This is pure cover: it pays your family if something happens during the term, and there is no amount paid back at the end. Compulsory term life policy for those going abroad for foreign employment. Provides sum assured on death and additional benefits for funeral, repatriation, income loss, disability, critical illness and medical reimbursement.
What's included
Key highlights
- Compulsory term life for foreign employment
- Fixed coverage amount
- Funeral and repatriation expenses included
- Short-term coverage
Features
- Compulsory for foreign employment
- Death benefit: NPR 1,000,000
- Funeral expense: NPR 100,000
- Repatriation expense: NPR 100,000 (with proof)
- Loss of income benefit: NPR 200,000
- Permanent total disability: NPR 1,000,000
- Temporary partial disability: up to NPR 500,000
- Critical illness benefit: NPR 500,000
- Medical reimbursement up to NPR 100,000 for traumatic events and critical illness treatment
- Additional NPR 400 on premium for critical illness coverage
Terms and conditions
- 1.The full sum assured amount will be paid upon the death of the life assured during the term of the policy.
- 2.A funeral expense of Rs. 1,00,000/- will be provided.
- 3.If the insured dies in a foreign country and proof of repatriation is provided, Rs. 1,00,000/- will be provided as a repatriation expense.
- 4.For loss of income, Rs. 2,00,000/- will be provided.
- 5.In the case of permanent total disability of the life assured during the policy term, Rs. 10,00,000/- will be provided.
- 6.In the case of temporary partial disability of the life assured during the policy term, a maximum of up to Rs. 5,00,000/- will be provided.
- 7.Upon being diagnosed with a critical illness, Rs. 5,00,000/- will be provided.
- 8.Medical reimbursement up to Rs. 100,000/- will be provided for incidents occurring due to traumatic events and for medical expenses incurred while treating critical illnesses.
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
The nominee receives the full sum assured. There is no savings element, so nothing else accrues.
Typical for term plans — confirm the exact terms in the brochure.
If the policy runs to maturity
There is no maturity payout. The premium buys cover for the term, not savings.
Typical for term plans — confirm the exact terms in the brochure.
If death is caused by an accident
With the accidental death rider, an additional amount is paid on top of the sum assured. The rider is optional and carries its own premium.
Typical for term plans — confirm the exact terms in the brochure.
Optional riders
Funeral Expense Benefit
Core policy funeral expense benefit
Accidental Death Benefit
Accidental death protection included in policy benefits
Permanent Total Disability Benefit
Permanent total disability benefit included
Partial Disability Benefit
Partial disability benefit included
Critical Illness Benefit
Critical illness coverage available with additional premium
Loan & liquidity
- Policy loan
- Not available
Questions about this plan
What kind of plan is Foreign Employment Plan?
Foreign Employment Plan from IME Life Insurance is a term plan that is pure life cover for a fixed period, with no savings element, and suits people protecting family income or a loan.
Who can buy Foreign Employment Plan?
The entry age for Foreign Employment Plan is 18 – 64 years.
How long does Foreign Employment Plan run?
The policy term for Foreign Employment Plan is 1 - 6.5 years.
How much cover can I take on Foreign Employment Plan?
The sum assured available on Foreign Employment Plan is From Rs 10,00,000.
Which riders can be added to Foreign Employment Plan?
Foreign Employment Plan can be taken with the following optional riders: Accidental death (ADB), PTD / PWB, Critical illness (CI). Each rider carries its own premium.
Premium
Quote on request