This is a Whole Life Endowment plan. It is specially designed Endowment product to cover the wide range of risk for our social communities of Nepal. Keeping in mind to coverage the risk of their whole life, company has launched JEEVAN SAHARA whole life plan. The insured amount (sum assured) together with bonus is payable on maturity date and full insured amount (sum assured) again payable on death of life assured after maturity.
- Age at Entry : 16 years to 65 years
- Maximum Maturity Age : 70 years
- Terms of Policy : 5 years to 54 years
- Minimum Sum Assured: NRs. 5,000
- Maximum Sum Assured: Depends upon income
- Premium Payment Mode: Quarterly, Half-Yearly and Yearly
- Policy loan shall be available after the policy acquires paid-up/surrender value. Policy Loan shall be maximum of 90% of the surrender value.
- In case of survival of policyholder at the end of the policy term Sum Assured + Bonus will be paid as a Maturity benefit .
- In case of Life Assured’s death during the term (before maturity) of the policy Basic Sum Assured + Bonus will be paid .
- In case of Life Assured’s death after the policy term then, an amount equal to Sum Assured will be paid .
- In case of Life Assured’s death after policy term up to age 70 caused by an accident , Full Basic Sum Assured + Accidental Death Benefit (ADB) amount will be paid .
Optional Benefits (Rider Benefits):
With payment of additional premium, following additional benefits can be taken:
1. Accidental Death Benefit (ADB) Only
This is a rider benefit which offers protection on occurrence of death of the policyholder due to accident . It can be taken with payment of additional Rs. 1 per thousand. In case of death due to accident, additional benefit equal to basic sum assured or maximum Rs. 1,00,00,000 whichever is less is payable to the beneficiary of assured.
2. Accidental Death Benefit, Accidental Total Permanent Disability, Premium Waiver Benefit – ADB, TPD & PWB:
This is a rider benefit which offers protection on occurrence of death or disability of the policyholder due to accident . This rider is to be offered as a package along with premium waiver rider . It can be taken with payment of an additional premium. Total coverage amount under this benefits will be equal to basic sum assured or Maximum Rs. 100,00,000/- whichever is less. In case of permanent and total disability of the policyholder during the policy term caused by an accident the Rider Sum Assured will be paid to the policyholder in 120 equal monthly instalments and all future payable premium will be waived.
3. Critical Illness Benefit:
This is a Rider benefit . If the life assured is diagnosed with specific illness defined under this plan during the policy term, lump sum amount equal to basic sum assured or maximum up to Rs. 50,00,000 will be paid to the insured. Undermentioned conditions should be followed to have Critical Illness ;
Entry age: Minimum 18, Maximum : 65, Policy maturity age: 70, Coverage: Minimum Rs.50, 000 ,Maximum : Rs. 50,00,000 , Policy Term : Minimum 5 Years to Maximum 20 years .