Project Description

Last updated on September 16th, 2021 at 09:40 am

First Date of Issuance: 2017-10-17

Endowment Plan

Perfect for your savings.

DOWNLOAD BROCHURE
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)

Optional Benefits

Critical Illness Benefit (CI):

On insured being diagnosed with onset of any of the listed Critical Illness during the term of the policy, an additional sum equal to Sum Assured under the basic policy or NPR 50 Lakhs, whichever is less, is payable subject to survival of insured and continuity of the said illness for 30 days from the date of diagnosis.

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.

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.