Kathmandu. Liberty Micro Life Insurance Limited has introduced a new insurance scheme “Guaranteed Growth Plan” for the low and middle income group keeping in mind the market demand and customer needs. This scheme currently saves a small amount and helps the insured to achieve his financial goals by getting a lump sum amount when the policy matures. In case of the death of the insured while the policy is in operation, the company will provide financial security to the insured’s family.
A person from 18 years to 65 years can buy this policy for a minimum period of 8 years and a maximum period of 25 years. Under this insurance plan, the minimum sum assured will be Rs 10,000 and the maximum sum assured will be up to Rs 5 00,000. Under this insurance plan, customers will be able to pay annual, half-yearly, quarterly and lump sum insurance fees as per their needs and desires. Apart from this, ADB and ATPD facility can also be availed by paying an additional small amount along with this plan.
The main feature of this insurance plan is that on the basis of the term payment of the policy and the term of the policy, a guarantee return of Rs 25 per year will be given for a period of 10 years, Rs 35 for a period of 10-14 years, Rs 45 for a period of 15-19 years and Rs 50 per thousand per year for a period of 20 years or more.
In this scheme, in the event of the death of the insured before the expiry of the term, a lump sum payment will be made by adding the assured income to the sum assured on the basis of the period of the policy in the original sum assured.
In addition, if the insurance premium has been paid for the full three years under the policy and has completed 3 years from the date of commencement of the insurance, the loan or insurance can be surrendered up to 90 percent of the surrender value under the policy according to the method implemented by the Nepal Insurance Authority.
In order to take advantage of this innovative policy, the company has urged all the customers to purchase this insurance policy and contact the employees and agents of the company and get detailed information.
