Last updated on September 16th, 2021 at 09:37 am
First Date of Issuance: 2020-09-27
Limited Endowment Plan
Full coverage at limited premium payment.
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.
Premium Paying Term
Sum Assured+ Vested Bonus (Simple Reversionary +Terminal, if any).
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.
|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|
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
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.