This is pure cover: it pays your family if something happens during the term, and there is no amount paid back at the end. A non-participating single premium one-year term assurance plan that pays a pre-decided sum assured on death during the policy period. No maturity benefit.
What's included
Key highlights
- 1-year term
- Single premium
- Min Sum assured NPR 250,000
- Death benefit only
Features
- 1-year term assurance
- Single premium payment
- Pays pre-decided sum assured on death during policy period
- No maturity/money-back benefit
Terms and conditions
- Maximum Sum Assured: No limit, subject to medical and financial underwriting.
- Sum Assured: More than 20 lakhs requires other conventional policies
- In the event of unfortunate death of the life assured during the policy term, the Sum assured will be paid to the nominee / beneficiary.
- The policy will terminate on payment of the death benefit and nothing will be payable 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 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.
Optional riders
No optional riders are attached to this plan.
Questions about this plan
What kind of plan is Smart Jeevan Beema Yojana?
Smart Jeevan Beema Yojana from Nepal 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 Smart Jeevan Beema Yojana?
The entry age for Smart Jeevan Beema Yojana is 18 – 60 years.
How long does Smart Jeevan Beema Yojana run?
The policy term for Smart Jeevan Beema Yojana is 1 Year.
How much cover can I take on Smart Jeevan Beema Yojana?
The sum assured available on Smart Jeevan Beema Yojana is Rs 2,50,000 – Rs 20,00,000.
Premium
Quote on request