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Nepal Life iEnsure

Nepal Life iEnsure

Product Launch Date:15/02/2022

“Nepal Life – iEnsure” Jeevan Beema Yojana is a non – participating return of premium term plan. This plan provides coverage to the policyholder up to the expiry of the term.

This product offers the following benefits:

  • In the event of death before the commencement of risk, refund of premium will be paid to the beneficiary of the insured.
  • In the event of death prior to maturity of policy, the basic sum assured will be paid to the beneficiary of the insured.
  • At maturity of policy, the total premium paid will be returned to the insured

Features

Details

Entry age

18 years to 60 years next birthday

Maximum age at Expiry

65 years

Policy Term

5 years to 25 years, depending on maximum age at expiry

Premium Term

Same as policy term

Premium payment mode

Minimum Sum Assured: NRs. 100,000

 

Maximum Sum Assured: NRs. 10,000,000

Death Benefits Before Commencement of Risk

Refund of Premium

Death Benefits Before Maturity

Sum Assured

Maturity Benefits

Total Premium Paid

Risk Commencement

After one year of commencement of policy (except accidental death)

Early Surrender

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

 

Policy Term

Policy Term : 5 to 25 years, depending on maximum age at expiry

Premium Term : Same as policy term

Mode of payment : Single

Regular (Monthly, Quarterly, Half-yearly or Yearly)

Entry Age, Coverage Age and Commencement of Risk (Person Covered)

Minimum Entry Age

 

Maximum Entry Age

 

18 years old

 

60 years old

 

 

Maximum age at policy maturity is 65 years.

Age definition is age next birthday.

Risk commencement begins after one year of the commencement of policy.

4. Benefits

Death Benefit

In the event of Death of the Person Covered, the Death Benefit shall be the total sum assured. Prior to risk commencement, this is a refund of premium.

Surrender Benefit

Surrender value is only applicable upon completion of three policy years where three full annual premiums payments have been made.