Bachat Amrit Sawadhik Jeevan Beema Yojana

Special features:
·         Policy issued under Endowment Life Assurance with profit plan
·         Limited Premium paying term
·         Fewer premiums charged with comparison to other endowment policies
·         Bonus is provided for full term year
·         Tax exemption facility as per Nepal Government rule
·         Rebate on mode of payment which is not available in other plans
·         Rs. 2 per thousand is provided for high sum assured
 
Policy Requirements
·         Minimum entry age                      : 11 year
·         Maximum entry age                     : 55 year
·         Maximum maturity age                : 70 year
·         Age computation                         : Age Next Birthday
·         Term year                                   : 10 year, 15 year and 20 year
·         Premium paying term year: 

  • For 10 years only 8 year to be paid
  • For 15 years only 12 year to be paid
  • For 20 years only 16 year to be paid

·         Minimum Sum Assured                : Rs. 50,000.00
·         Maximum Sum Assured               : As per income source
·         Premium Payment Frequency     : Yearly, Half-yearly and Quarterly
·         Accidental Death Benefit             : Sum Assured or maximum up to Rs. 2,500,000.00
·         Waiver of Premium                      : can be included
·         Rebate on mode of payment: 

  • 2% on Annual payment
  • 1% on Half Yearly payment
  • 5% loading on Quarterly (Additional)

·  Rebate on Sum Assured:

  • Rs. 1 per thousand from Rs. 100,000.00 to Rs. 300,000.00
  • Rs. 2 per thousand above Rs. 300,000.00

Benefits:
·         On maturity: Sum assured and accumulated bonuses are paid
·         In case of death: Sum Assured and accumulated bonuses are paid in case of unfortunate death of the assured during policy period before maturity date
Other benefits:
·  Surrender value  : After completion of 2 years and as least 2 full years premium should have been paid from the date of commencement
·  Loan                   : Maximum 90% of the Surrender value (Present Value)
Rider benefits: 
There will be options to add Accidental Double Benefits (up to Rs. 2,500,000.00 Sum Assured) and Waiver of Premium (WOP) riders of customize the policy as per actual needs.

 


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