GRAMIN SAMUHIK MYADI BEEMA YOJANA

Proposer DOB

Plan Description & Overview

This is a non-linked, non-participating, One Year Group Renewable Micro Term Insurance plan that provides insurance cover to affinity groups.

Eligible groups include:

  • Co-operative credit society members
  • NGO members
  • Self-help groups
  • Microfinance loanee members
  • Non-employer–employee organizations

One Master Policy is issued to the Nodal Agency covering all members. Designed for people without formal insurance, especially in microfinance sector.

Death Benefit

On death during policy term, Sum Assured is paid to Master Policy Holder, who transfers it to nominee/beneficiary.

Additional & Funeral Benefits

  • Up to 50% SA additional cover
  • Funeral benefit up to 15% SA or Rs. 15,000
  • Accidental Death & Disability riders available

Other Details

  • Master Policy issued to Nodal Agency
  • Premium paid by Nodal Agency
  • Minimum 75% members must join
  • All new members must be covered
  • DGH required at entry
  • Sum Assured based on loan/membership
NIA Approval Date: 2081-03-31
NIA Amendment Date: 2082-02-20