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 |
Monthly, Quarterly, Half-Yearly and Yearly |
Sum Assured |
Minimum Sum Assured: NRs. 100,000 Maximum Sum Assured: Based on the source of income |
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.