Endowment/Investment Plan

An endowment plan is a type of life insurance policy designed to pay lump sum amount on maturity or on death. It offers financial security for the family,
in the event of any unanticipated circumstances and also serves as the safety net for the insured’s family.

Why Endowment?
The face value received at maturity can be used to meet various short term and long-term financial goals and needs, such as child’s education, savings for retirement and many more. One can also build or boost their financial pool with regular savings.

NAULO SURAKSHIT JEEVAN BEEMA YOJANA

It is a participating/ with-profits endowment plan. It provides annual simple reversionary bonuses, which are vested once declared.

This product offers the following benefits:

•  At maturity of policy, Basic Sum assured with accrued bonus will be paid to the insured.

•  In case of death immediately after policy commencement but before maturity basic sum assured plus accrued bonus will be paid to the beneficiary of the insured.

Features

Details

Age at entry

18 years to 70 years

Maximum age at maturity

75 years

Policy Term

5 years to 55 years

Sum Assured

Minimum Sum Assured: NRs.25,000

Maximum Sum Assured:  Based on the source of income

Premium payment mode

Monthly, Quarterly, Half-Yearly and Yearly

Death Benefits

Sum Assured plus Accrued Bonus

Maturity  Benefits

Sum Assured plus Accrued Bonus

Early Surrender/Loan

A loan/ surrender value is payable after the completion of the 3 full policy year and 3 full annual premiums payments

Additional Riders available in this products are:

The following additional riders are offered to policyholders with additional premiums under this plan:

  • Accidental Death Benefit (ADB) Only.

  • Accidental Death Benefit, Accidental Total Permanent Disability, Premium Waiver Benefit    (ADB, TPD & PWB).

For Example : 

A person aged 30 years going in for insurance under this plan for 21 years for Sum Assured 10,00,000 (Ten Lakh) will have to pay Annual Premium of Rs. 51173/- and Total Premium Rs. 10,74,633/-. After Maturity of the Policy he/she will get Sum Assured Rs.10,00,000/- plus Bonus 15,12,000/- (@72/1000 of SA) Total 25,12,000/- at the end of the term. In case of earlier death his/her nominee will get Sum Assured  Rs. 10 lakh plus Bonus there on subject to all premiums having been paid.

Date : 2021-04-16

JEEVAN LAXMI

TRIPLE BENEFIT SCHEME WITH BONUS

This product targets for those willing to get maximum life risk coverage at reasonable premium. This product has unique feature of triple benefit. At the time of policy maturity, insured gets Sum Assured with Bonus as single benefit, on the death of insured within the policy term, nominee gets two times the Sum Assured and Bonus till the time as double benefit and in case of accidental death of policy holder, nominee gets three as triple benefit. CI facility is available.

The plan is the Triple Benefit Endowment Plan with Bonus payable on the following terms:

 SALIENT FEATURES:

Entry Age:

16 to 50 years

Maximum Maturity Age:

60 years

Terms of Policy:

7 to 25 years

Minimum SumAssured:

NRs. 10,000

Maximum SumAssured:

NRs. 1,00,000

Medical Requirement:

As per Company Rule.

Payment Mode:

Yearly, Half-Yearly,  Quarterly & Monthly basis.

Accidental Benefit:

ADB/PWB/PTD Available up to Max. 2,00,000/-.

Loan Facility:

Upto 90% of the surrender value after payment of 2nd yearly premium.

First Policy Issue Date : 2006-09-08

RURAL ENDOWMENT PLAN

Life insurance is a security which everyone deserve to have. However, due to financial constraints, many individuals cannot buy insurance for themselves and their families. Rural Endowment Plan, specially designed to address social security needs of rural areas.

This plan is a regular premium endowment with profit plan with built in accident benefit.

This plan, unlike a typical social commercial life insurance policy, offer assistance to families with lower income and lesser savings and has following key features.

  1. Simplified policy issue procedure

  2. Inbuilt Accidental death benefit without extra cost

  3. Grace period of 60 days to cater rural needs

  4. Good Investment Plan with Death Risk Coverage

  5. Simplified and Hassle-free claim procedure

 KEY BENEFITS:

  1. a)      Death Benefit:

  2. i)       Death during 1st year of the policy:

(1)     Double sum assured only in case of accidental death.

(2)     Refund of premium in case of natural death excluding all extra /additional premiums.

  1. ii)      Death after completion of one year till date of Maturity:

(1)     Double Sum Assured along with vested bonuses in case of accidental death.

(2)     Full Sum Assured along with vested bonuses in case of natural death.

  1. b)      Maturity Benefit: On survival to maturity date sum assured plus bonus declared and vested in the policy.

  2. c)      Premiums are payable during the term of the policy or till death, if it occurs, during the term of the policy.

 OTHER FEATURES:

  1. Grace Period:The grace period of 60 days is given for premium payment to make sure that policies are not lapsed unless absolutely necessary.

  2. Reinstatement: Possible up to five years from the last unpaid premium. Penalty charged at 10% p.a. In case of reinstatements after 6-months a health declaration has to be signed

  3. Surrender: Zero surrender values for the first two years. Surrender value will be as per Beema Samiti guidelines.

  4. Loan: Policy loan shall be available after the policy acquires paid-up/surrender value. Policy Loan shall be maximum of 90% of the surrender value.

  5. Lapses: Non-payment of premium beyond the grace period results in lapse of policy.

  6. Paid up value: If payment of premiums is discontinued after at least two years’ premiums have been paid, a paid up policy for an amount bearing the same proportion to the sum assured as the number of premiums actually paid bears to the number stipulated for in the policy,will be automatically secured. Such reduced paid up policy will not be entitled to participate in the profits declared thereafter.

 SALIENT FEATURES:

Entry Age:

16 to 60 years

Maximum Maturity Age:

65 years

Terms of Policy:

5 to 49 years

Minimum SumAssured:

NRs. 10,000

Maximum SumAssured:

NRs. 2,00,000

Accidental Benefit:

ADB/PWB/PTD Available up to Max. 2,00,000/-.

Payment Mode:

Yearly, Half-Yearly,  Quarterly & Monthly basis.

Loan Facility:

Upto 90% of the surrender value after payment of 2nd yearly premium.

First Policy Issue Date : 2016-07-12

+ NAULO SURAKSHIT

NAULO SURAKSHIT JEEVAN BEEMA YOJANA

It is a participating/ with-profits endowment plan. It provides annual simple reversionary bonuses, which are vested once declared.

This product offers the following benefits:

•  At maturity of policy, Basic Sum assured with accrued bonus will be paid to the insured.

•  In case of death immediately after policy commencement but before maturity basic sum assured plus accrued bonus will be paid to the beneficiary of the insured.

Features

Details

Age at entry

18 years to 70 years

Maximum age at maturity

75 years

Policy Term

5 years to 55 years

Sum Assured

Minimum Sum Assured: NRs.25,000

Maximum Sum Assured:  Based on the source of income

Premium payment mode

Monthly, Quarterly, Half-Yearly and Yearly

Death Benefits

Sum Assured plus Accrued Bonus

Maturity  Benefits

Sum Assured plus Accrued Bonus

Early Surrender/Loan

A loan/ surrender value is payable after the completion of the 3 full policy year and 3 full annual premiums payments

Additional Riders available in this products are:

The following additional riders are offered to policyholders with additional premiums under this plan:

  • Accidental Death Benefit (ADB) Only.

  • Accidental Death Benefit, Accidental Total Permanent Disability, Premium Waiver Benefit    (ADB, TPD & PWB).

For Example : 

A person aged 30 years going in for insurance under this plan for 21 years for Sum Assured 10,00,000 (Ten Lakh) will have to pay Annual Premium of Rs. 51173/- and Total Premium Rs. 10,74,633/-. After Maturity of the Policy he/she will get Sum Assured Rs.10,00,000/- plus Bonus 15,12,000/- (@72/1000 of SA) Total 25,12,000/- at the end of the term. In case of earlier death his/her nominee will get Sum Assured  Rs. 10 lakh plus Bonus there on subject to all premiums having been paid.

Date : 2021-04-16

+ JEEVAN LAXMI

JEEVAN LAXMI

TRIPLE BENEFIT SCHEME WITH BONUS

This product targets for those willing to get maximum life risk coverage at reasonable premium. This product has unique feature of triple benefit. At the time of policy maturity, insured gets Sum Assured with Bonus as single benefit, on the death of insured within the policy term, nominee gets two times the Sum Assured and Bonus till the time as double benefit and in case of accidental death of policy holder, nominee gets three as triple benefit. CI facility is available.

The plan is the Triple Benefit Endowment Plan with Bonus payable on the following terms:

 SALIENT FEATURES:

Entry Age:

16 to 50 years

Maximum Maturity Age:

60 years

Terms of Policy:

7 to 25 years

Minimum SumAssured:

NRs. 10,000

Maximum SumAssured:

NRs. 1,00,000

Medical Requirement:

As per Company Rule.

Payment Mode:

Yearly, Half-Yearly,  Quarterly & Monthly basis.

Accidental Benefit:

ADB/PWB/PTD Available up to Max. 2,00,000/-.

Loan Facility:

Upto 90% of the surrender value after payment of 2nd yearly premium.

First Policy Issue Date : 2006-09-08

+ RURAL ENDOWMENT

RURAL ENDOWMENT PLAN

Life insurance is a security which everyone deserve to have. However, due to financial constraints, many individuals cannot buy insurance for themselves and their families. Rural Endowment Plan, specially designed to address social security needs of rural areas.

This plan is a regular premium endowment with profit plan with built in accident benefit.

This plan, unlike a typical social commercial life insurance policy, offer assistance to families with lower income and lesser savings and has following key features.

  1. Simplified policy issue procedure

  2. Inbuilt Accidental death benefit without extra cost

  3. Grace period of 60 days to cater rural needs

  4. Good Investment Plan with Death Risk Coverage

  5. Simplified and Hassle-free claim procedure

 KEY BENEFITS:

  1. a)      Death Benefit:

  2. i)       Death during 1st year of the policy:

(1)     Double sum assured only in case of accidental death.

(2)     Refund of premium in case of natural death excluding all extra /additional premiums.

  1. ii)      Death after completion of one year till date of Maturity:

(1)     Double Sum Assured along with vested bonuses in case of accidental death.

(2)     Full Sum Assured along with vested bonuses in case of natural death.

  1. b)      Maturity Benefit: On survival to maturity date sum assured plus bonus declared and vested in the policy.

  2. c)      Premiums are payable during the term of the policy or till death, if it occurs, during the term of the policy.

 OTHER FEATURES:

  1. Grace Period:The grace period of 60 days is given for premium payment to make sure that policies are not lapsed unless absolutely necessary.

  2. Reinstatement: Possible up to five years from the last unpaid premium. Penalty charged at 10% p.a. In case of reinstatements after 6-months a health declaration has to be signed

  3. Surrender: Zero surrender values for the first two years. Surrender value will be as per Beema Samiti guidelines.

  4. Loan: Policy loan shall be available after the policy acquires paid-up/surrender value. Policy Loan shall be maximum of 90% of the surrender value.

  5. Lapses: Non-payment of premium beyond the grace period results in lapse of policy.

  6. Paid up value: If payment of premiums is discontinued after at least two years’ premiums have been paid, a paid up policy for an amount bearing the same proportion to the sum assured as the number of premiums actually paid bears to the number stipulated for in the policy,will be automatically secured. Such reduced paid up policy will not be entitled to participate in the profits declared thereafter.

 SALIENT FEATURES:

Entry Age:

16 to 60 years

Maximum Maturity Age:

65 years

Terms of Policy:

5 to 49 years

Minimum SumAssured:

NRs. 10,000

Maximum SumAssured:

NRs. 2,00,000

Accidental Benefit:

ADB/PWB/PTD Available up to Max. 2,00,000/-.

Payment Mode:

Yearly, Half-Yearly,  Quarterly & Monthly basis.

Loan Facility:

Upto 90% of the surrender value after payment of 2nd yearly premium.

First Policy Issue Date : 2016-07-12