Project Description

Last updated on June 6th, 2021 at 07:02 am

Reliance Limited Endowment Plan

First Date of Issuance:
2020-09-27

Under this plan, insured can choose flexible premium payment term from various payment options available as illustrated below and may avail increase in risk coverage in every 5 years.
Policy Term Premium Paying Term
10 8      
15 8 12    
20 8 12 16  
25 8 12 16 20

Maturity Benefits:

Sum Assured+ Vested Bonus (Simple Reversionary +Terminal, if any).

Death Benefits:

On death of the insured during the policy term, beneficiary will receive claim payout along with accrued bonus (Simple Reversionary + Terminal Bonus, if any) as illustrated below.

Term Claim Payout
1 to 5 Years 100% of Sum Assured
Above 5 Years to 10 Years 125% of Sum Assured
Above 10 Years to 15 Years 150% of Sum Assured
Above 15 Years to 20 Years 200% of Sum Assured
Above 20 Years to 25 Years 225% of Sum Assured

Eligibility Criteria:

Minimum Face Amount:                 NPR. 50,000/-

Maximum Face Amount:                As per the underwriting policy of the Company

Minimum Entry Age:                       16 Years

Maximum Entry Age:                      65 Years

Maximum Maturity Age:                75 Years

Policy Term:                                       10, 15, 20, 25 years

Minimum Policy Term:                   10 Years

Premium Paying Term:                   8, 12, 16, 20 years

Premium Payment Mode:        Annually/Semi-Annually/Quarterly

Optional Benefits

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.

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.

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.