The plan is a non-participating single premium one year term assurance plan. It provides pre-decided sum assured on death of the life assured during the policy period. Term insurance would also be suitable for a person with low income but requiring a large cover to protect his family's financial future in case of his demise. For similar reasons, this type of insurance would also suit a person who is the sole breadwinner in the family and has moderate income. Keeping in mind company has introduced Smart Life Insurance Term plan .
Minimum Age at Entry : 16 years
Maximum Age at Entry: 60 years
Policy Term:1 year
Premium Payment Term: Single Premium
Minimum Sum Assured: NRs. 250,000
Maximum Sum Assured: No limit, subject to medical and financial underwriting. Sum Assured more than 20 lakhs requires other conventional policies
- In the event of unfortunate death of the life assured during the policy term, the Sum assured will be paid to the nominee / beneficiary.
- The policy will terminate on payment of the death benefit and nothing will be payable thereafter.
- Maturity Benefit: No maturity benefit will be payable under this plan.