Asian Pension (Deferred & Annuity Options)
In simple terms: you pay a fixed amount each year, and at the end of the term you get your cover amount back together with the bonus the insurer adds along the way. Long-term pension (annuity) plan with entry age 18–60 and maturity/termination age 40–70. Minimum sum assured starts from NPR 10,000. Multiple annuity options available (5/10/15/20) years respectively.
Maturity estimator
Estimated value at maturity
—
Declared bonus
Rate by policy term
Declared FY 2081/82
| Policy term | Rate / 1,000 | Prev. year |
|---|---|---|
| 0-14 | Rs 42 | Rs 61 |
| 15-19 | Rs 42 | Rs 62 |
| 20-24 | Rs 44 | Rs 64 |
| 25+ | Rs 50 | Rs 75 |
Recent years
- FY 2081/82
- Rs 42–50/ 1,000
- FY 2080/81
- Rs 61–75/ 1,000
- FY 2079/80
- Rs 61–75/ 1,000
- FY 2078/79
- Rs 45–60/ 1,000
- FY 2077/78
- Rs 40–60/ 1,000
Source: Asian Life Insurance declaration for FY 2081/82
Bonus rates are declared annually and are not guaranteed. Past rates do not guarantee future rates.
What's included
Key highlights
- Entry age 18–60
- Min sum assured NPR 10,000
- Multiple annuity options
- Optional PWB / PTD / ADB riders
Features
- Entry age 18–60 years
- Maturity/termination age 40–70 years
- Premium payment period 5 to 54 years
- Sum assured from NPR 10,000 (max based on income)
- Premium payment modes: yearly, half-yearly, quarterly
- Multiple annuity options: guaranteed (5/10/15/20 years) then lifelong, lifelong only, return of purchase price, 3% annual increase
- Optional riders: Premium waiver (PWB), PTD (disability), Accidental death benefit (ADB)
- Annuity payment modes: monthly/quarterly/half-yearly/annual
- Minimum annuity instalments: monthly NPR 250, quarterly NPR 750, half-yearly NPR 1,500, annual NPR 3,000
Terms and conditions
- Option 1: Lifetime Annuity Facility.
- a)The life annuity payment will be made to the insured from the annuity commencement date as mentioned in the schedule of the policy.
- b)No amount will be paid after the death of the insured.
- Option 2: Guaranteed for 5 years and then lifetime annuity facility.
- a) The insured will be paid a lifetime annuity from the annuity commencement date .
- b) Annuity payment is guaranteed for 5 years.
- c) If the insured dies before the 5-year assured period of the annuity is completed, the remaining amount is paid to beneficiary as per annuity payment method.
- Option 3: Guaranteed for 10 years and then lifetime annuity facility.
- a) Starting from the annuity commencement date a lifetime annuity will be paid to the insured.
- b) Annuity payment is guaranteed for up to 10 years.
- c)If the insured dies before the 10-year assured period of the annuity has been completed, the annuity amount remaining for the 10 years will be paid to the beneficiary accordingly.
- Option 4: Guaranteed for 15 years and then lifetime annuity facility.
- a) A lifetime annuity will be paid to the insured starting from the annuity commencement date a
- b) Annuity payment is guaranteed for up to 15 years.
- c) If the insured dies before the 15-year assured period of the annuity has been completed, the annuity amount remaining for the 15 years will be paid to beneficiary accordingly
- Option 5: Guaranteed for 20 years and then lifetime annuity facility.
- a)Starting from the annuity commencement date , a lifetime annuity will be paid to the insured.
- b)Annuity payment is guaranteed for 20 years.
- c)If the insured dies before the 20-year assured period of the annuity has been completed, the annuity amount remaining for the 20 years will be paid to beneficiary accordingly.
- Option 6:Purchase Price Refund Facility.
- A lifetime annuity will be paid to the insured starting from the annuity commencement date
- After the death of the insured, the purchase value used in the purchase of the annuity will be paid to the beneficiary as mentioned in the schedule of this policy.
- Option 7: Annuity facility increasing by 3 percent (normal interest rate) per annum.
- a) A lifetime annuity will be paid to the insured starting from the annuity commencement date
- b) Such annuity amount will be paid by increasing by three percent (normal interest rate) every year.
- c)No amount will be paid after the death of the insured.
- Option 8: Lifetime Annuity Benefit to Spouse after the Death of the Insured.
- a) The Insured will receive a lifetime annuity starting from the annuity commencement date.
- b) After the death of the Insured, 100% of the annuity will be paid to his/her spouse for the rest of his/her life.
- c)In case the annuity amount starts and the spouse is less than 40 years of age at the time of the death of the spouse; the annuity amount will be paid only after the completion of 40 years.
What happens in each case
Each plan pays out differently depending on what happens during the term. These are the situations that matter for this kind of plan.
If the insured passes away during the term
This plan states: Sum Assured + applicable bonus
If the policy runs to maturity
This plan states: Option to receive annuity as per chosen annuity option or use maturity amount (Sum Assured + Bonus) to purchase annuity
If death is caused by an accident
This plan states: Payable as per terms if applicable
Optional riders
Accidental Death Benefit
Optional accidental death benefit.
Permanent Total Disability Benefit
Optional permanent disability benefit.
Premium Waiver Benefit
Optional premium waiver benefit.
Annuity Options
Eight annuity options are provided at the end of the insurance period.
Loan & liquidity
- Policy loan
- Available
Questions about this plan
Who can buy Asian Pension (Deferred & Annuity Options)?
The entry age for Asian Pension (Deferred & Annuity Options) is 18 – 60 years.
How long does Asian Pension (Deferred & Annuity Options) run?
The policy term for Asian Pension (Deferred & Annuity Options) is 5 – 54 years.
How much cover can I take on Asian Pension (Deferred & Annuity Options)?
The sum assured available on Asian Pension (Deferred & Annuity Options) is From Rs 10,000.
What bonus rate does Asian Pension (Deferred & Annuity Options) earn?
For FY 2081/82, Asian Life Insurance declared Rs 42–50 / 1,000 of sum assured on Asian Pension (Deferred & Annuity Options). Bonus rates are set each year and are not guaranteed.
What is paid if the insured passes away during the term?
Sum Assured + applicable bonus
What is paid when Asian Pension (Deferred & Annuity Options) matures?
Option to receive annuity as per chosen annuity option or use maturity amount (Sum Assured + Bonus) to purchase annuity
Which riders can be added to Asian Pension (Deferred & Annuity Options)?
Asian Pension (Deferred & Annuity Options) can be taken with the following optional riders: Accidental death (ADB), PTD / PWB. Each rider carries its own premium.
Premium
Quote on request