Rural Term Insurance
Ensure your borrowers and accountholders are financially secure in the event of loss of life or disability.
About Rural Term Insurance
Rural Term Insurance is a combination of life and accident coverage with limited underwriting. In addition, the policy pays a lump sum amount to cover Funeral Expenses in case of death.
The plan is issued through Micro Financial Institutions & Financial Cooperatives. The product aims at covering borrowers and accountholders of Micro Financial Institution & Cooperatives and these organizations cater to low-income group. The plan also caters to customers segment who are self-employed or Small and Medium Enterprise (SME) owners. Those are the owners of small scale proprietorship-shops or tradesmen.
Overview:
The product features are as follows:
Issues age: 18 -70 Years
Policy Term: 1 to 6 Years
Benefits: (i) Loss of Life; (ii) Accidental Death, Permanent Total disability (iii) Funeral expenses.
Minimum and maximum coverage amount in Nepalese Rupee:
| Benefits: | Minimum Coverage Amount
(in NPR) |
Maximum Coverage
Amount (in NPR) |
| (i) Loss of Life;
(ii) Accidental Death, Permanent Total disability (iii) Funeral expenses. |
(i) 5,000
(ii) 5,000 (iii) 500 |
(i) 2,000,000 including funeral expense benefit
(ii) 2,000,000 (iii) 40% of (i) Loss of Life
|
Premium rate: Will be provided based on census.