I.M.E Surakchya Myadi Jeevan Beema Yojana (Term Assurance Plan)
Term life insurance provides financial security for the insured’s family in case of an untimely death. It offers high coverage amounts at lower premiums compared to other life insurance products. However, it’s a non-participating plan, so the policyholder doesn’t share in the company’s profits.
Minimum Face Amount/Basic Sum Assured: NRs.5,000/-
Maximum Face Amount/Basic Sum Assured: NRs.25,00,000/-
Minimum Entry Age: 18 Years
Maximum Entry Age: 75 Years
Maximum Maturity Age: 76 Years
Minimum Policy Term: 1 Years
Maximum Policy Term: 30 Years
Premium Payment Mode: Yearly/ Single
Benefits
Death Benefits:
On Death of the Policy holder during the policy term, Full Sum Assured will be paid to the nominee/beneficiary.
The policy will terminate on such payment.
Maturity Benefit:
Not Applicable.
Riders (Optional)
Funeral Expense Rider
On death of the life assured during the term of the policy, up to 40% of the base Sum Assured subject to maximum of NPR 50,000 is payable as funeral expense.
Accidental Death Benefit Rider
On death of the life assured due to accident during the policy term an additional sum assured up to 100% of the base plan sum assured as opted by the life assured is payable subject to maximum of NPR 25,00,000.
Accidental Total Permanent Disability Benefit Rider
Rider Sum Assured up to 100% of base plan Sum Assured as opted by the life assured subject to the maximum of NPR 2500,000 will be payable to the policyholder on Total Permanent Disability resulting from accident.
Accidental Partial Permanent Disability Rider
Rider Sum Assured up to 50% of base plan Sum Assured subject to the maximum of NPR 12,50,000 will be payable to the life assured on Partial Permanent disability resulting from accident of the life assured.
* Terms and conditions apply.
The benefits and coverage provided under this plan are determined by the terms and conditions outlined in the policy and rider documents. In the event of any dispute arising under this policy, resolution will be in accordance with the provisions of the Insurance Act of 2079.
