NIA Product Code
NIA/LI002/2066/067/TEP/0009
NIA Approved Date
2067-01-27
This is a single premium plan designed to cover life risk at nominal cost under policy term of 3, 5, 10 and 15 years with double benefit in case of accidental death. However if there is no claim during the period then the premium paid is refunded with specified rate of interest. This is specifically suitable for micro finance insurance.
Policy Benefits:
Maturity Benefit:
· 3 Year Policy Term: Paid Premium will be refunded
· 5 Year Policy Term: Paid Premium plus 5% Interest of premium on maturity
· 10 Year Policy Term: Paid Premium plus 25% Interest of premium on maturity
· 15 Year Policy Term: Paid Premium plus 50% Interest of Premium on maturity
Death Benefit:
· In case of Normal death : Sum Assured
· In case of accidental death : Sum Assured Plus ADB Coverage
Additional Benefits:
· Tax Benefit
· Surrender after 1 year
· Loan facility
· Ownership can be handed over to any Bank or Financial institution
