Project Description

Last updated on September 16th, 2021 at 09:12 am

First Date of Issuance: 2011-01-12

Fixed Deposit Protection Plan

Savings and security with one time  premium payment.

DOWNLOAD BROCHURE
This plan gives you the benefits of risk coverage as well as annual returns. Under this plan, insured gets cashback equivalent to 5% of the sum assured annually as survival benefit to meet the regular cash flow needs while maintaining the risk coverage of the full sum assured during the term of the policy irrespective of the survival benefits paid.  At maturity, the balance amount is paid along with vested bonus which is calculated on the full sum assured.
 
Survival Benefits:

On survival of the insured till the end of the policy term, insured will get yearly cashback equivalent to 5% of the sum assured and the remaining percentage of sum assured along with vested bonus at maturity.

Death Benefits:

Regular Premium Payment Mode: 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) without deducting any of the survival benefit amounts already paid.

Single Premium Payment Mode: On death of the insured during the policy term, beneficiary will receive Full Sum Assured or Double the Sum Assured depending upon the plan chosen along with Vested Bonus (Death Benefit = Sum Assured or Double the Sum Assured + Vested Bonus) without deducting any of the survival benefit amounts 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                                   20 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 (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.

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.

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.