BAL SHIKSHA BEEMA YOJNA

Nepal Life Sunischit Bhawishya tatha Siksha Sawadhik Jeevan Beema

Eligibility Conditions:

Entry Age
Child Age

From birth till 18 yrs

Proposer Age 20 – 65 yrs

Policy Term: 5 to 30 years (By the end of the term the age of the child should not exceed 30 years and the age of the proposer should not exceed 70 yrs)
Sum Assured:    Proposer – NPR. 50 thousand to 1 Crore
Child – NPR. 50 thousand to NPR. 25 Lakhs
Risk Coverage Fee: NPR. 1/- per thousand of child’s sum assured
Discount and extra charges on premium amount


Discount on Premium

5.01 – 10 lakhs

NPR. 1/-  per thousand of premium amount

Above 10 lakhs

NPR. 2/-  per thousand of premium amount

 

Extra Charges on Premium (According to Payment Option)

Annual

No extra charge

Half Yearly

Extra 1% on premium

Quarterly

Extra 2% on premium

Monthly

Extra 3% on premium

Special Features:

  1. Proposer's sum assured and respective bonus shall be paid to the proposer in case of maturity of the plan and if the proposer is alive*.
  2. In case of the demise of the proposer within the policy term
    1. Bonus calculated till the time of the proposers death and premium waiver after that till the end of term.
    2. After the demise of the proposer, 10% of the sum assured shall be paid on an annual basis till the end of the term. If any amount remains after the payment of 10% sum assured annually till the end of the term then that amount shall be paid to the child / nominee.
  3. In case of the demise of the insured child after the start of the policy term#, the sum assured of the child shall be paid and the policy shall remain enforced for the proposer. Regular premium will have to be paid till the end of the term.
  4. Loan facility shall be available after 1 year of policy enforcement.

* In case of the end of the policy term with or without the demise of the proposer and if the child is alive by that time then no amount of the child’s sum assured will be paid.
# Risk coverage of child shall start from 2 years after the enforcement of the policy or by the time the child is 5 yrs old (whichever comes first).

Product's Special Features
- Entry Age - From birth till 18 yrs
- One policy, double risk coverage (Proposer & Child)
- Maturity amount received can be utilized for child's education
- In case of death of the proposer, regular fixed income will be provided to the child to ensure the child's education till maturity
- Loan facility available after 1 year of policy enforcement

First Policy Issue Date : 2013-11-21

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