Nepal Life Ketaketi Sunaulo Bhawishya Jeevan Bemma Yojana
This plan is an ideal savings and protection plan for your children’s future. Apart from covering the risk, through periodic payments, funds built up over time can be used for a child’s higher education, marriage, social events or any other needs.
Basic Benefits:
At the time of Policy Maturity Sum Assured plus vested bonus will be paid to the Insured (Child).
In case of death of child before risk commencement, paid premium (except rider and extra premium) will be paid and the policy will be terminated.
In case of death of child after risk commencement, 25% of Sum Assured Plus vested Bonus or paid premium (except rider and extra premium) whichever is higher will be paid and the policy will be terminated.
Commencement of risk
Child risk under this plan will commence either two years after the date of commencement of the policy or from the policy anniversary falling immediately after the completion of five years of age, whichever is earlier. Proposer’s risk cover starts immediately after the policy commencement.
In case of death of proposer:
1% of Sum Assured will be paid till the policy maturity date as monthly income benefit
Premium will be waived till the maturity.
Sum Assured plus bonus will be paid at the time of policy maturity.
In case of death of Insured (Child) after proposer’s death:
25% of Sum Assured plus Bonus or paid premium (except rider and extra premium) whichever is higher will be paid and the policy will be terminated.
In case of death of proposer and child at same time
100% Sum Assured plus bonus will be paid as coverage of proposer and 25% of sum assured will be paid as coverage of insured (Child) and the policy will be terminated.
Comprehensive Additional Benefit
Option to choose (Proposer Only): Accidental Rider Benefit, Accidental Rider Benefit/Permanent Total Disability/Premium Waiver Benefit, Critical Illness
Eligibility:
Minimum Sum Assured: NPR 25,000
Maximum Sum Assured: As per the source and level of income.
Entry Age (Proposer): 21-65 Years
Entry Age (Child): 1 month to 17 Years
Rider (ADB, PTD/PWB, CI) Entry Age: 21
Rider (ADB, PTD/PWB, CI) Maturity Age: 70
Policy Term: 5-25Years
Maximum Maturity Age (Child): 25 Years
Maximum Maturity Age (Proposer): 70 Years
Premium Payment Mode: Yearly, Half-Yearly, Quarterly, Monthly , Single Mode
Policy loan is only applicable upon completion of three full policy years in case of regular / limited premium/Single premium. A policy loan is available up to 90% of Surrender Value or 25% of Sum assured plus accrued bonus whichever is lower . In the case of death of both, the child and the proposer, the loan amount will be deducted from the benefit payable.
