Reliance Surakshit Jeevan Beema Yojana (Reliance Endowment Assurance Plan)
This plan is an ideal savings and protection oriented plan at an affordable price. Apart from covering the risk, helps the policyholder save regularly over the term of the policy.
This plan will support financial needs in occasions such as securing your children’s education, auspicious family functions, going on a dream vacation, living comfortably after retirement, etc.
Maturity Benefits
On survival of the insured till the end of the policy term, the insured will receive full Sum Assured along with Vested Bonus (Maturity Benefits = Sum Assured + Vested Bonus).
Death Benefits
On death of the insured during the policy term, beneficiary will receive full Sum Assured along with Vested Bonus (Death Benefits = Sum Assured + Vested Bonus). This amount ensures that even in your absence, your loved ones gets the financial support and are able to live the life you planned for them.
Eligibility Criteria:
Minimum Sum Assured NPR 25,000 or NPR 100,000 in case of Single Premium
Maximum Sum Assured No Limit (Based on Income)
Minimum Entry Age 11 Years
Maximum Entry Age 65 Years
Minimum Policy Term 5 Years
Maximum Policy Term 59 Years
Maximum Maturity Age 70 Years
Note: For minor’s life insurance coverage above sum assured NPR 20 lakhs, proposer (parent) must have the life coverage equivalent to proposed sum assured of the minor.
Premium Payment Mode: Regular (Annually/Semi-Annually/Quarterly) or Single (One Time Payment)
First Date of Issuance: 1st Mangshir 2074.
Optional Benefits
Premium Waiver Benefits (PWB):
On Permanent Total Disability of the insured due to accident, the entire future premiums due subsequent to the date of Total Permanent Disability will be waived.
In case of life insurance of minor, on death of the Proposer during the policy term, the future premium due subsequent to the date of death will be waived till child attains an age of 16 years.
Monthly Income Benefit (MIB):
This benefit is applicable for child insurance of an age 11 to 14 years. In case of death of the Proposer, monthly 1% of Sum Assured is payable till the child attains an age of 16 years.
Permanent Total Disability (PTD):
On Permanent Total Disability of the insured due to accident, an additional amount equal to Sum Assured or NPR 1 Crore, whichever is less, is payable in monthly installment spread over 120 months. If the remaining term to maturity is less than 120 months, the balance installments is payable in lump sum on maturity or at death, whichever is earlier. This benefit is available only on insured attaining an age of 16 years.
Eligibility Criteria:
Minimum Sum Assured As per Basic Plan of Insurance
Maximum Sum Assured As per Basic Plan of Insurance or NPR 1 Crore, whichever is less
Minimum Entry Age 16 Years
Maximum Entry Age 65 Years
Minimum Policy Term 5 Years
Maximum Policy Term 54 Years
Maximum Maturity Age 70 Years
Accidental Death Benefits (ADB):
On death of the insured due to accident, an additional amount equal to Sum Assured or NPR 1 Crore, whichever is less, is payable to the beneficiary. This benefit is available only on insured attaining an age of 16 years.
Eligibility Criteria:
Minimum Sum Assured As per Basic Plan of Insurance
Maximum Sum Assured As per Basic Plan of Insurance or NPR 1 Crore, whichever is less
Minimum Entry Age 16 Years
Maximum Entry Age 65 Years
Minimum Policy Term 5 Years
Maximum Policy Term 54 Years
Maximum Maturity Age 70 Years
Critical Illness Benefit (CI): 7-11-18 Critical illness optional benefit can be taken by the insured. Under this facility a lump sum of up to Rs.50 Lakhs will be provided to the insured in case any one of the illness is medically verified. (Not applicable under the child plan)