Crest Micro-Life launches Samriddhi Advance Payment Micro Life Insurance Plan

KATHMANDU:Crest Micro Life Insurance Limited has launched the Crest Micro Life Insurance Plan on Wednesday, November 20.

In the Samriddhi Advance Payment Micro Life Insurance Plan, a certain percentage of the sum assured will be returned in advance at regular intervals of 5/5 years after the insurance is taken out, and the remaining sum assured and assured additional amount will also be provided at the end of the insurance period, the company said.

The company said in a statement that the amount received at regular intervals aims to provide financial assistance for various activities such as education, marriage, and business operations during the life of the person.

Similarly, the company said that the insurance plan will have a minimum of 50 thousand to a maximum of 500,000 rupees. Similarly, the entry age of the insured should be from a minimum of 18 years to a maximum of 50 years. The maximum insurance expiry age is 70 years and the insurance period is 15-20-25 years, the company said.

The aim of this plan is to return the advance amount, low insurance premiums, best savings, reliable investment, exemption from income tax, welfare for dependents, old age support, and a secure future for children. Similarly, the company claims that this plan, which has features such as the assurance of future income while insuring, will play an important role in promoting insurance literacy to a great extent.

Life insurance will be ensured at the time of purchasing the insurance policy by paying a low amount for insurance premium. Even if the fixed sum assured is returned, life insurance equal to the full sum assured will remain.

Similarly, there is a maximum maturity payment, death benefit, additional 100 percent sum assured in case of death due to an accident, and a limb loss benefit of up to 100 percent of the sum assured in case of limb loss due to an accident. It seems that insurance premium waiver facility will be ensured in case of disability due to an accident.