/ Product / Reliance Endowment Assurance Cum Whole Life Plan
Reliance Endowment Assurance Cum Whole Life Plan( First issued on: 2017-10-17 )
Need Analysis – suitable if you are more concerned towards protecting your family. Saving component is also there.

Reliance Sukhmaya Jeevan Beema Yojana (Reliance Endowment Assurance Cum Whole Life Plan)

This plan guarantees you lifelong protection. Even after the premium paying term, the coverage will continue till the insured attain an age of 100 years. It is also an ideal way of creating an asset while also protecting your family against financial loss that can happen after your death at any point of time.

Survival Benefits

On survival of the insured till the end of the policy term, the insured will receive full Sum Assured along with Vested Bonus (Survival Benefits = Sum Assured + Vested Bonus). Moreover, on survival of the insured up to 100 years, the insured will again receive an amount equivalent to full Sum Assured.

Death Benefits

Before Maturity: On death of the insured during the policy term, beneficiary will receive a lump sum amount equivalent to full Sum Assured along with Vested Bonus (Death Benefits = Sum Assured + Vested Bonus).

After Maturity: On death of the insured before attaining an age of 100 years and after maturity of the policy, beneficiary will receive an amount equivalent to full Sum Assured in addition to the survival benefits already paid.

Eligibility Criteria:

Minimum Sum Assured                                 NPR 100,000

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)

First Date of Issuance: 1st Mangshir 2074. 

Optional Benefits

Premium Waiver Benefit (PWB)

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)

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.


Total Permanent Disability (TPD)

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 Benefit (ADB)

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


7,11 and 18 Critical Illness Coverage

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)


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