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 tofamilies 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


a)      Death Benefit:

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.

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

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

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

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

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


  1. Grace Period:The grace period of 60 days is given for premium payment to make sure that policiesare 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 BeemaSamiti 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 beenpaid, a paid up policy for an amount bearing the same proportion to the sum assured asthe 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 toparticipate in the profits declared thereafter.


  1. Age at Entry : 16 years to 60 years
  2. Maximum Maturity Age : 65 years
  3. Terms of Policy : 5 years to 49 years
  4. Minimum Sum Assured: NRs. 10,000
  5. Maximum Sum Assured: NRs. 200,000
  6. Premium Payment Mode: Monthly, Quarterly, Half-Yearly and Yearly

First Policy Issue Date : 2016-07-12

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