23rd April 2025, Kathmandu
Liberty Micro Life Insurance has introduced a new insurance product called the Guaranteed Growth Plan. The plan focuses on low and middle-income individuals. It promotes small savings with a promise of a guaranteed return and financial security.
Secure Financial Future in Nepal
Focus on Savings and Protection
The company believes this plan will help customers save small amounts over time. At maturity, policyholders will receive a lump sum. This can support their long-term financial goals. In case of death during the policy term, the nominee will receive the sum assured along with guaranteed returns.
Flexible Eligibility and Policy Term
People between 18 and 65 years of age can purchase this plan. The policy term ranges from 8 to 25 years. Customers can choose the duration that best suits their financial needs.
Affordable Sum Assured Options
The minimum sum assured is NPR 10,000. The maximum limit is NPR 500,000. This wide range allows flexibility for different income levels.
Convenient Premium Payment Choices
Customers can pay premiums annually, semi-annually, quarterly, or as a one-time payment. This flexibility makes it easier for people to join and stay insured.
Additional Protection Options
Policyholders can add Accidental Death Benefit (ADB) and Accidental Total Permanent Disability (ATPD) coverage. These options require a small extra payment. However, they offer additional security in times of crisis.
Guaranteed Annual Return
The plan guarantees a fixed return each year, based on the policy term:
Up to 10 years: NPR 25 per thousand per year
11 to 14 years: NPR 35 per thousand per year
15 to 19 years: NPR 45 per thousand per year
20 years or more: NPR 50 per thousand per year
These returns are paid along with the sum assured when the policy matures.
Lump Sum Payout on Death
If the policyholder dies while the plan is active, the nominee gets a lump sum. This includes the sum assured and the guaranteed return earned till that point. It ensures the family remains financially supported.
Loan and Surrender Options
After three full years of premium payments, policyholders can either take a loan or surrender the policy. This is possible after the third year from the policy start date. They can borrow up to 90% of the surrender value, as per the rules of the Nepal Insurance Authority.
Designed for Inclusion
The company designed this plan to reach underserved populations. Many in Nepal still lack access to proper insurance. Liberty Micro Life hopes this plan will fill that gap.
Call to Action
Liberty urges customers to learn more. People can contact agents or visit company representatives for full details. The company aims to make life insurance more inclusive, simple, and secure for all.
For more: Secure Financial Future in Nepal