Kathmandu, Nov. 20
Crest Micro Life Insurance Limited has
launched a new product Samriddhi Advance Payment Micro Life Insurance Plan on
Wednesday, November 20.
The new plan offers periodic advance
payments at five-year intervals during the policy term, with the remaining sum
assured and additional guaranteed benefits paid upon maturity, the company said
in a statement.
The periodic payments to the insured can
assist with various life needs, including education, weddings, cultural and
religious events, or even business ventures.
Individuals aged between 18 and 50 years can buy this product with Rs.
50,000 to Rs. 500,000 sum assured. The maximum maturity of this product is 70
years of age. It comes with 15, 20 and 25 years of policy terms and payment of
premium can be made on an annual, semi-annual or quarterly basis.
According to the company, benefits of
the plan include periodic advance payouts, low premium rates, secure savings
and reliable investment options, income tax benefits, financial support for
dependents and security in old age and assurance of a good future for children
"This plan ensures financial
protection from the moment the policy is purchased, even as portions of the sum
assured are returned in advance. Despite the advance payouts, full life
coverage remains intact, along with additional benefits, including maximum
maturity benefits, death benefits, 100 per cent of the sum assured for
accidental death," read the statement.
Other benefits of the product include
up to 100 per cent coverage for disability due to accidents, and a premium
waiver in case of permanent disability.
Published in The Rising Nepal daily on 21 November 2024.
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