ENDOWMENT AND WHOLE LIFE
Terms and Conditions
1. Minimum Age at Entry : 16 years2
2. Maximum Age at Entry : 65 years
3. Mininum Term : 5 years
4. Maximum Term : 54 years
5. Maximum Maturity Age : 70 years
6. Minimum Sum Assured : Rs.50000
7. Maximum Sum Assured : according to the financial condition of life to be assured
8. Premium Paying Modes : Yearly, Half-yearly, Quarterly
9. Large Sum Assured Rebate :
Rs. 201000 to 300000 : : Rs 1 on Premium
Rs. 301000 and above : Rs 2 on Premium
10. Mode Rebate :
Yearly : less 2%
Half-yearly : less 1%
Quarterly : No
11.Benefits :
a) Accident Benefits : Double Accident Benefits is available up to age 70. Irrespective of Premium paying term, by Payment of additional premium. Maximum ADB SumAssured is Rs.500000.
12. Death Benefits :
a) In case of LIfe Assured's death during the premium paying term, the basic sum assured plus vested bonus upto date of death is paid.
b) In case of Life Assured's death after the premium paying term then,an amount equal to sum Assured is Paid
13. Optional Benefits :
only ADB with additional Price
TERM ASSURANCE PLAN
Terms and Conditions
1. Minimum Age at Entry : 18 years
2. Maximum Age at Entry : 50 years
3. Minimum Term : 1 Year
4. Maximum Term : 5 Years
5. Fixed Sum Assured Rs : 500000+ Body Repartriation Expenses(Maximum Nrs.50000)
6. Premium Paying Mode : Single
7. Body Repatrition : Maximum of Rs.50000
8. Effective Date of Insurance : Date of Departure from Nepal.
9. Medical :
Compulsory at Proponents Cost 10. Benefits : * On Death Of Life Assured during the term of the Policy : FULL SUM ASSURED + BODY REPATRIATION CHARGES will be paid.
CHILD ASSURANCE PLAN
Terms and Conditions
1. Minimum Age at Entry : 0 years
2. Maximum Age at Entry : 15 years
3. Term : 30 minus age at entry
4. Minimum Sum Assured : Rs.50000
5. Maximum Sum Assured : Rs.2000000
6. Premium Paying Modes : Yearly, Half-yearly, Quarterly
7. Large Sum Assured Rebate :
NRs.250001 to 500000 : NRs.1
NRs.500001 and Above : NRs.2
8. Mode Rebate :
Yearly : less 2%
Half-yearly : less 1%
Quarterly : No
9.Commencement of Risk :
Risk of the Child will commence either 2 years after the date of commencement or from the policy anniversary falling immediately after the completion of age 6 of child, whichever is later. However, in case of child.s age at entry being 15 years risk will commence from one year after date of commencement.
10.Vesting of Policy
The Policy will vest in the Life Assured from the policy anniversary following his completing age of 16 years.
11. Maturity Benefit
The Sum Assured along with vested bonus is payable on Date of Maturity .
12. Death Benefit :
*In case the Life Assured (Child) dies any time after commencement of risk, full Sum assured with the vested bonuses will be paid.* In case of Life Assured (Child) dies before Commencement of Risk, all the premium paid excluding extra premiums will be refunded.
13. Optional Benefit:
Premium Waiver Benefit (PWB)By payment of an additional premium payable during the premium paying term or till the child attains age of 16 years or till the death or permanent and total disablement due to accident of the Proposer, if earlier, the proposer can secure the benefit of waiver of all future premiums from the date of death or disablement up to the Child attaining age of 16 years.b. Monthly Income Benefit (MIB)An amount equal 1% of the basic sum assured is payable from day of the month coinciding with the day of the date of commencement of policy, immediately following date of death of the proposer till the date of maturity of the policy or child attaining age of 16 years, whichever is earlier.Note : Monthly Income Benefit will be allowed only if Premium Waiver Benefit is opted.
POST by Bijay Thapa. bijay-lifeinsurance.blogspot.com
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