Reliance Samuhik Myadi Jeevan Beema Yojana (Reliance Group Term Life Plan)
This plan is designed to offer life insurance coverage by employer to its employees. This plan will give financial assistance and stability to the beneficiaries of the employees in case of eventuality.
By offering this plan, the organization is being responsible towards its employees which creates strong bonding and assists in their retention.
Benefits:
- High risk coverage to employees at affordable price
- On death of an employee, beneficiary of concerned employee will receive a lump sum amount equivalent to full Sum Assured.
- Employee can be added or removed from the group at any point of time.
- Additional financial security can be offered to employees by adding rider benefits to cover critical illness, accidental death benefits and permanent total disability.
Maturity Benefits: Nil
Eligibility Criteria:
Minimum Group Size 10
Minimum Sum Assured NPR 50,000
Maximum Sum Assured NPR 20,000,000
Minimum Entry Age 16 Years
Maximum Entry Age 64 Years
Minimum Policy Term 1 Year
Maximum Policy Term 1 Year
Maximum Maturity Age 65 Years
Death Benefits
On death of the life assured during the policy term, beneficiary will receive a lump sum amount equivalent to full Sum Assured (Death Benefits = Sum Assured).
Premium Payment Mode: Annual Basis
Micro Insurance
This plan is designed to offer insurance coverage to the members of micro insurance companies & co-operatives who are mainly low-income people who do not have access to adequate risk management tools and are vulnerable to fall back to poverty in times of hardship and require low insurance coverage. This plan will give financial assistance and stability to the beneficiaries of the members in case of eventuality. Besides this, additional benefits like Accidental Death Benet (ADB), Total Permanent Disability (TPD), & Funeral Expense can also be availed as per request.
One Year Renewable Group Term Assurance Plan for Affinity Groups (non-par)
This plan is designed to offer life insurance coverage to the non-employer’s employee groups such as members of co-operatives, self-help groups, member of association, members of lending institutions and others. This plan will give financial assistance and stability to beneficiary of the members in case of eventuality. Besides this, additional benefits like Accidental Death Benefit (ADB), Total Permanent Disability (TPD) & Funeral Expense can also be availed as per request.
Minimum Sum Assured NPR 10,000
Maximum Sum Assured NPR 50,00,000
Minimum Entry Age 16 Years
Maximum Entry Age 69 Years
Minimum Policy Term 1 Year (To be renewed every year)
Maximum Maturity Age 70 Years