IME Child Money Back Plan (IME Bal Umanga) - IME Life Insurance Co. Ltd.

IME Bal Umanga

IME Child Money Back Plan

Key Features

Minimum / Maximum Entry Age (Assured) :0 to 15 Years
Minimum / Maximum Entry Age (Proposer) :18 to 65 Years
Minimum / Maximum Policy Term :10 to 25 Years
Minimum / Maximum Maturity Age(Assured) :16 to 25 Years
Maximum Maturity Age (Proposer) :70 Years
Minimum Sum Assured :Rs. 50,000
Premium Payment Term: Regular (Yearly/Half Yearly/Quarterly)

*Maximum Sum Assured will be limited the following regulations:

The maximum total cumulative Sum Assured (SA) of all insurable minor children of the proposer is limited to NPR. 5,000,000.
If proposer intended to do child’s insurance beyond NPR. 5,000,000, the maximum total cumulative Sum Assured of all insurable children is equal to the Sum Assured of proposer’s life insurance is required.

Policy Requirements

Survival Benefit:

On Survival of Life Assured to Maturity Date:

Survival to	Benefit payable
4th Anniversary prior to Date of Maturity	20% of Sum Assured
3rd Anniversary prior to Date of Maturity	20% of Sum Assured
2nd Anniversary prior to Date of Maturity	20% of Sum Assured
1st Anniversary prior to Date of Maturity	20% of Sum Assured
On Date of Maturity	20% of Sum Assured Plus Vested Bonus

Death Benefit:

After Commencement of Risk:

In case of death of the Life Assured (Child) after the risk has been covered, 25% of the Basic Sum Assured will be paid immediately and remaining 75% of Basic SA and bonus earned till death will be paid in a lump sum at maturity of insurance policy.

Before Commencement of Risk:

If the Life Assured (Child) dies before risk commencement date, all the premium received for the basic insurance policy will be refunded. If the Life Assured (Child) dies before risk commencement date, all the premium received for the basic insurance policy will be refunded.

Loan / Surrender Facility : Available

Tax Benefit: Available

Riders

Additional Benefits:

On death or Total Permanent Disability of Proposer due to accident or sickness while the policy is active, following benefit will be provided:

Lump-Sum Benefit: A lump-sum amount equal to Rider Sum Assured will be paid.
Premium Waiver Benefit: All future premiums under the base policy equal to Sum Assured of this rider shall be waived off.
Educational Income Benefit: A regular Monthly Income Benefit of 1.0% or 1.5% or 2.0% or 3.0% of Rider Sum Assured of policy taken, and as per choice of Proposer, or Quarterly Income Benefit (QIB) 3.0% or 4.5% or 6.0% or 9.0% of Rider Sum Assured of policy taken, and as per choice of Proposer will be paid every monthly/quarterly anniversary of the rider from the death/disability date of the proposer up to the end of the rider term (policy maturity) or the death of the life assured (child) whichever is earlier.

Optional Rider Benefits:

Funeral Expense Rider: For additional premium, on death of all cause of proposer during the rider policy term, an additional sum equal to Rider Sum Assured of this rider will be paid.
Accidental Death Benefit Rider: For additional premium, on death of the proposer during the rider policy term due to accident before age 70 years, an additional sum equal to the Rider Sum Assured of this rider will be paid.
Critical Illness Rider: On Proposer, being diagnosed with onset of any of the listed 21 Critical Illness during the rider policy term, a lump sum equal to the Rider Sum Assured of this rider will be paid.

*Terms and Conditions Apply

First Policy Issue Date: 2017-11-16