This is pure cover: it pays your family if something happens during the term, and there is no amount paid back at the end. Sanima Reliance Life 1-year Micro Term Assurance (single premium). Death benefit: Sum Assured. No maturity benefit.
What's included
Key highlights
- 1-year term protection
- Single premium payment
- Sum Assured paid on death
Features
- Minimum Sum Assured NPR 10,000
- Policy Term: 1 year
- Premium Mode: Single (one-time)
- Death Benefit: Sum Assured
- No Maturity Benefit
- Optional raiders availiable
What happens in each case
Each plan pays out differently depending on what happens during the term. These are the situations that matter for this kind of plan.
If the insured passes away during the term
This plan states: Sum Assured
If the policy runs to maturity
This plan states: Nil
If death is caused by an accident
This plan states: Additional amount equal to Sum Assured or 10000000 (whichever is lower)
Optional riders
Accidental Death Benefit (ADB)
Additional amount equal to Sum Assured or NPR 10,000,000 whichever is lower.
Permanent Total Disability (PTD)
Sum Assured or NPR 10,000,000 whichever is lower, payable in 120 monthly installments (or balance lump sum if remaining term <120 months).
Funeral Benefit
Up to 40% of Sum Assured or maximum NPR 25,000.
Loan & liquidity
- Policy loan
- Not available
- Paid-up value
- No
- Partial withdrawal
- No
Questions about this plan
What kind of plan is Micro Term Assurance?
Micro Term Assurance from Sanima Reliance Life Insurance is a term plan that is pure life cover for a fixed period, with no savings element, and suits people protecting family income or a loan.
Who can buy Micro Term Assurance?
The entry age for Micro Term Assurance is 18 – 60 years.
How long does Micro Term Assurance run?
The policy term for Micro Term Assurance is 1 – 1 years.
How much cover can I take on Micro Term Assurance?
The sum assured available on Micro Term Assurance is From Rs 10,000.
What is paid if the insured passes away during the term?
Sum Assured
What is paid when Micro Term Assurance matures?
Nil
Which riders can be added to Micro Term Assurance?
Micro Term Assurance can be taken with the following optional riders: Accidental death (ADB), PTD / PWB. Each rider carries its own premium.
Premium
Quote on request