MetLife Nepal launched LifeCare, a new term insurance policy that provides comprehensive financial protection against loss of life, unanticipated incidents and diagnosis of 24 serious diseases. The first-of-its-kind insurance plan in Nepal includes packages specifically designed for women as well as a general package fit for all.
“We are proud to introduce this product in Nepal after identifying a protection gap in the insurance market for people in Nepal who suffer from these diseases,” said Nirmal Kajee Shrestha, Vice President and General Manager, MetLife Nepal.
The 24 diseases covered by the plan are divided into two packages. The first package LifeCare Beautiful is specially designed for women and includes coverage for loss of life and ten female-centric diseases, including: female carcinoma, skin grafting, facial reconstructive surgery due to accident, breast cancer, uterus cancer and other female specific cancers. The second package, LifeCare Brave includes coverage for loss of life and 14 serious diseases that commonly affect all genders, including: major cancers, stroke, heart attack, hypertension, end stage liver and lung disease, kidney failure, coma, anemia, major organ/bone marrow transplantation and benign tumor.
LifeCare enables individuals to access a lump sum payout to cover the cost of treatment and care required for the diagnosed illness, replace lost income due to the disease and treatment, including covering mortgage or personal loan repayments until they are able to go back to work. People aged 18-60 years can apply for policy terms 1, 5, 10, 15 and 20 years with quarterly, semi-annual and annual premium payment modes.