Crest Micro Life Insurance Introduces Innovative Micro Insurance Plan to Support Marginalized Communities

Crest Micro Life Insurance Limited, approved by the Nepal Insurance Authority, is leading the micro life insurance sector, targeting marginalized communities, low-income groups, and residents of remote areas in Nepal. The company launched its "Prosperity Advance Devotional Small Life Insurance Plan" on Mangsir 5, 2081.

Key Features of the Plan:
i. Sum Assured: Ranges from NPR 50,000 to NPR 500,000.
ii. Eligibility: Entry age is 18–50 years, with a maximum maturity age of 70 years.
iii. Policy Period: Options of 15, 20, or 25 years.
iv. Premium Payment: Flexible modes – annual, semi-annual, and quarterly.

Benefits:
i. Partial payouts every 5 years to assist with expenses like education, marriage, and business operations.
ii. Full sum assured and additional benefits at policy maturity.
iii. Features include low premiums, tax benefits, and financial security for dependents and old age.
iv. Accident-related benefits include 100% additional sum assured, dismemberment compensation, and premium discounts for disabilities.

The scheme emphasizes insurance literacy, offering life protection alongside savings and investment opportunities, contributing significantly to financial security and social welfare in Nepal.