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. New Jeevan Tarang is a limited premium, with-profit limited premium whole life plan. It provides an annual survival benefit of 5.50% of the Sum Assured every year after the premium payment term.
Maturity estimator
Estimated value at maturity
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Declared bonus
Rate by policy term
Declared FY 2080/81
| Policy term | Rate / 1,000 | Prev. year |
|---|---|---|
| 10 | Rs 50 | Rs 50 |
| 15 | Rs 51 | Rs 51 |
| 20 | Rs 55 | Rs 55 |
Recent years
- FY 2081/82
- Rs 41–62/ 1,000
- FY 2080/81
- Rs 50–55/ 1,000
- FY 2079/80
- Rs 50–55/ 1,000
- FY 2078/79
- Rs 50–55/ 1,000
- FY 2077/78
- Rs 52–62/ 1,000
* Company-wide declared range — the plan's own term bands were not published that year.
Bonus rates are declared annually and are not guaranteed. Past rates do not guarantee future rates.
What's included
Key highlights
- Limited premium whole life
- 5.50% annual survival benefit (after premium term)
- Sum Assured payable on death or at age 100
Features
- Limited premium whole life plan
- Annual survival benefit of 5.50% of Sum Assured after premium payment term
- Policy continues after premium term with yearly survival benefits
- Participating plan with reversionary bonuses
Terms and conditions
- Death Benefit:
- On death of the life assured during the premium payment term Sum Assured under the policy plus the Accrued Reversionary Bonus as on the date of death shall be payable. The policy will terminate upon such payment.
- On death of the life assured after the premium payment term, the Sum Assured under the policy shall be payable. The policy will terminate upon such payment.
- •Survival Benefits:
- On survival of the life assured to the end of each policy year after the premium payment term, a survival benefit equal to 5.50% of the Sum Assured shall be payable. This benefit shall be available to the life assured till attainment of age 99 years.
- •Maturity Benefit:
- On the survival of the life assured to the end of the premium payment term, the Accrued Reversionary Bonus shall be payable. The policy will continue upon such payment with yearly survival benefits and death benefit as described above. On survival of the life assured to age 100, a maturity benefit equal to the Sum Assured shall be payable. The policy shall terminate thereafter.
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 sum assured plus the bonus built up to that date, whenever the claim arises — there is no end date on the cover.
Typical for whole life plans — confirm the exact terms in the brochure.
After the premium-paying term ends
There is no maturity date. Once the premium-paying term ends, no further premiums are due and the cover stays in force for the rest of the insured's life.
Typical for whole life plans — confirm the exact terms in the brochure.
Optional riders
Premium Waiver Benefit
In-built premium waiver benefit for the proposer/child protection structure.
Questions about this plan
What kind of plan is New Jeevan Tarang?
New Jeevan Tarang from LIC Nepal is a whole life plan that covers the insured for life rather than a set number of years, and suits people who want to leave money behind for their family.
Who can buy New Jeevan Tarang?
The entry age for New Jeevan Tarang is 18 – 60 years.
How long does New Jeevan Tarang run?
The policy term for New Jeevan Tarang is 10 – 20 years.
How much cover can I take on New Jeevan Tarang?
The sum assured available on New Jeevan Tarang is From Rs 2,00,000.
What bonus rate does New Jeevan Tarang earn?
For FY 2080/81, LIC Nepal declared Rs 50–55 / 1,000 of sum assured on New Jeevan Tarang. Bonus rates are set each year and are not guaranteed.
Which riders can be added to New Jeevan Tarang?
New Jeevan Tarang can be taken with the following optional riders: PTD / PWB. Each rider carries its own premium.
Premium
Quote on request