Nepal Life – Group Affinity is a regular premium non-participating term plan. It provides benefits in the event of death.
This product offers the following benefits:
- In the event of death prior to maturity of policy, the basic sum assured will be paid to the beneficiary of the insured.
- Funeral expenses will also be paid to the beneficiary of the insurance in the event of death prior to maturity of policy.
| Features | Details |
| Entry age | 18 years to 70 years next birthday |
| Maximum age at Expiry | 71 years |
| Policy Term | 1 month to 30 years |
| Premium Term | Same as policy term |
| Premium payable up to date of maturity or up to death, if earlier | |
| Sum Assured | Minimum Sum Assured: NPR. 10,000 |
| Maximum Sum Assured: NPR. 10,000,000 | |
| Premium payment mode | Monthly, Quarterly, Half-yearly, Yearly |
| Payment mode Rebate/Loading | Yearly: 1% of premium discount |
| Half yearly: no rebate, no discount | |
| Quarterly: 1% loading | |
| Monthly: 3% loading | |
| Death Benefits | Sum Assured |
| Funeral Expenses | NPR. 50,000 or 10% of Sum Assured, whichever is lower |
| Maturity Benefits | N/A |
| Risk Commencement | At the date of commencement of policy |
| Early Surrender | N/A |
Large Size Discount & Group Discount
Large size discount is given for policies with a sum assured of greater than NPR. 1,000,000.
The discount rate is based on the following scale according to entry age:
Large SA discount (above NPR. 1,000,000)
| Entry Age | Discount Rate |
| 18 – 35 | 15% |
| 36 - 50 | 5% |
| > 50 | 1% |
Group discount is given based on the number of lives assured as follows:
| Number of lives assured | Discount Rate |
| 0 – 1,000 | 0% |
| 1,001 – 5,000 | 1% |
| 5,001 – 10,000 | 2% |
| 10,001 – 25,000 | 3% |
| 25,001 – 50,000 | 4% |
| > 50,000 | 5% |
Rider: ADB, ADB/PTD/PWB, CI
