Bal Amrit 4 Endowment Policy
by National Life Insurance Company Limited
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. If you are ever unable to keep paying, the plan carries on by itself and your child still receives the full amount when the term ends. National Life's Bal Amrit 4 Endowment Policy — a child-focused endowment plan providing savings with life cover for children.
Maturity estimator
Estimated value at maturity
—
Declared bonus
Rate by policy term
Declared FY 2081/82
| Policy term | Rate / 1,000 | Prev. year |
|---|---|---|
| 5-14 | Rs 60 | — |
| 15-20 | Rs 60 | Rs 64 |
Recent years
- FY 2081/82
- Rs 60/ 1,000
- FY 2080/81
- Rs 64–85/ 1,000
- FY 2079/80
- Rs 64–85/ 1,000
- FY 2078/79
- Rs 64–85/ 1,000
- FY 2077/78
- Rs 64–85/ 1,000
Source: National Life Insurance Company Limited 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
- Child targeted plan
- Participating (bonus) endowment
- Long-term savings + protection
Features
- Child-focused endowment plan
- Maturity benefit (expected) with life cover
- Participating plan (bonus expected) — typical of traditional endowments
- Paid-up / surrender / loan options subject to company terms
Terms and conditions
- 1. Commencement of Risk:
- Child Risk under this plan will commence either two years after the date of commencement of the policy or from the policy anniversary falling immediately after the completion of five years of age, whichever is later.
- The proposer's risk cover immediately starts at the policy commencement.
- 2.Maturity Benefit: On maturity if the child is alive, sum insured and accrued Bonus is paid.
- 3. Death of Proposer:On proposer's death, nothing is payable, but the policy continues, however no further premium is payable till the child policy’s maturity or death.
- Further 1% of the sum insured per month is payable till the maturity of the policy or child’s death for the child's needs.
- 4.Death of Child: On child's death, after commencement of risk only 25% of Sum Assured plus the accrued bonus or actual premium paid ((except rider premium and extra rated premium) whichever is higher is paid.
- However, if death happens before commencement of risk, premium (except rider premium and extra rated premium) paid is refunded.
- 5. Simultaneous Death:
- a. If there is a simultaneous death of both the proposer and child, 125% of sum insured plus accrued Bonus is paid to the nominee.
- b. Policy stands terminated on child's death.
- c. If the proposer survives till maturity of the policy nothing is payable to the proposer.
National Life Insurance Company Limited’s page for this plan
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, and the policy ends. Most child plans are written on the parent's life, so see the next case for how the child is protected.
Typical for child plans — confirm the exact terms in the brochure.
If the parent or guardian passes away
Future premiums are waived and the policy continues on its own. The child still receives the full maturity amount at the set age. Many child plans also pay the child a regular income until then — the brochure states the rate.
Typical for child plans — confirm the exact terms in the brochure.
If the policy runs to maturity
The child receives the sum assured plus the bonus built up to that date, timed to the age set when the policy was taken out.
Typical for child 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 child plans — confirm the exact terms in the brochure.
Optional riders
Accidental Death Benefit
Accidental Death Benefit is available up to NPR 2,500,000.
Waiver of Premium
Waiver of Premium benefit is available.
Questions about this plan
What kind of plan is Bal Amrit 4 Endowment Policy?
Bal Amrit 4 Endowment Policy from National Life Insurance Company Limited is a child plan that is taken out by a parent or guardian to fund a child's education and future.
Who can buy Bal Amrit 4 Endowment Policy?
The entry age for Bal Amrit 4 Endowment Policy is 20 – 50 years.
How long does Bal Amrit 4 Endowment Policy run?
The policy term for Bal Amrit 4 Endowment Policy is 5-20.
How much cover can I take on Bal Amrit 4 Endowment Policy?
The sum assured available on Bal Amrit 4 Endowment Policy is Rs 1,00,000 – Rs 50,00,000.
What bonus rate does Bal Amrit 4 Endowment Policy earn?
For FY 2081/82, National Life Insurance Company Limited declared Rs 60–60 / 1,000 of sum assured on Bal Amrit 4 Endowment Policy. Bonus rates are set each year and are not guaranteed.
Which riders can be added to Bal Amrit 4 Endowment Policy?
Bal Amrit 4 Endowment Policy can be taken with the following optional riders: Accidental death (ADB). Each rider carries its own premium.
Premium
Quote on request