Yakal Sanjeevani Sabadhik Amrit
This is a single premium ,non-linked, with profits endownment plan which offers the policyholder a combination of protection and savings. The description of the plan is sated below.
On death of the policyholder, during the policy term, the Sum Assured on Death under the policy plus the Accured Reversionary Bonus as on the date of death will be payable to the Nominee / Beneficiary. The policy will terminate upon such payment.
The Sum Assured on Death is desfined as follows:
100% of Sum Assured during policy years 1 to 5
125% of Sum Assured during policy years 6 to 10
150% of Sum Assured during policy years 11 to 15
200% of Sum Assured during policy years 16 to 20
On survival of the policyholder till the end of the policy term, sum assured plus accrued reversionary bonus shall be payable. The Policy will terminate upon such payment.
The Policy shall have a surrender value after 30 days issue of policy. The amount of surrender value shall be determined on the basis of 80% of the Single Premium Paid(expecting additional fees/ charges) during the first year , 85% during the second year and 90% during the third year, together with accured bonus earned. Loan against policy can be obtained after 30 days of the issue of policy and shall not exceed 90% of the surrender value , as determined above.
The policy will participate in the profits of the company's participating fund on commencement of the policy. It gets a share of the profits emerging from the company's participating fund in the form of bonuses. Simple reversionary bonuses are declared as a percentage rate, which apply to the sum assured under the policy. They are declared annually at the end of each financial year based on the statutory valuation carried out under prevailing regulations. Once declared, they form a part of the guaranteed benefits of the Policy.
Minimum Sum Assured : NPR 200000
Maximum Sum Assured : As per the underwriting policy of the company
Minimum Age : 12 years (Last Birthday)
Maximum Age : 65 years (Last Birthday)
Maximum Age at Maturity : 70 years (Last Birthday)
Policy Term : 12 to 20 years
Method of Payment : Single