JEEVAN SARATHI BEEMA YOJANA
NepalLife has introduced a new kind of policy in Nepali market. It is a joint life policy. Under this plan risk of both husband and wife is covered by a single policy. Upon the death of spouse, insured amount is paid to alive husband or wife and remaining premium (installment) which has to be paid by the alive patner to the company will be waived. Again the insured amount along with bonus is paid on maturity.
Features of Jeevan Sarathi Beema Yojana:
- It can be taken by anyone in the age group between the age of 18 years to 50 years.
- Maximum age on maturity is 65 years.
- Under this plan loan upto 90% of the surrender value after the policy has completed two years term.
- Minimum Sum Assured is Rs. 50,000/- and Maximum Sum Assured depends upon the income sources of lives to be assured.
- Minimum Premium paying term is 15 years and maximium premium paying term is 30 years
- Premium can be paid Yearly, Half-Yearly and Quarterly basis.
Accidental Benefit :
Accidental Benefit is available to both the partners on payment of Rs. 1/- per thousand. This covers the accidental death risk. If a insured partner dies in accident additional sum equal to insured Amount (Sum Assured) will be paid to the living partner. At present total maximum Accidental Benefit coverage amount is Rs. 4,00,000/-.
Payment on Maturity :
Insured Amount (Sum Assured) along with Bonus will be paid at the time of maturity.
Payment on Death:
- In case of death of one partner before the maturity date, Sum Assured will be paid to the living insured partner. Policy will continue till maturity without paying the remaining premium (installment) by the living partner, and finallly Sum Assured along with Bonus will be paid to the living partner at the time of maturity. This plan has the benefit of providing Insured Amount (Sum Assured) two times.
- In case of death of both the insured partners before maturity the Insured Amount (Sum Assured) along with Bonus will be paid to the nominee.