SajiloBima

Bal Samriddha Laghu Beema Yojana

by गार्डियन माइक्रो लाइफ इन्स्योरेन्स नेपाल

Endowment
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A non-linked, non-participating regular premium child endowment plan providing savings and life cover for a child (life assured) with compulsory cover for the proposer.

What's included

Key highlights

  • बाल केन्द्रित एन्डाउन्मेन्ट योजना
  • प्रस्तावक मृत्युमा प्रिमियम माफी र मासिक भुक्तानी सुविधा
  • बाल जोखिम आरम्भ मापदण्ड (<6 वर्षका लागि 2 वर्ष पर्खने अवधि)

Features

  • बालकका लागि बीमा र बचत सुविधा
  • प्रस्तावक(प्रोपोजर)लाई अनिवार्य सुरक्षा समावेश
  • न्यूनतम बीमाङ्क रकम रु. 10,000, अधिकतम रु. 500,000
  • बीमा अवधि: न्यूनतम 8 वर्ष, अधिकतम 25 वर्ष
  • वार्षिक सुनिश्चित अतिरिक्त (guaranteed addition) बीमा अवधिनुसार NPR 25/35/45 प्रति रु.1000
Terms and conditions
  1. Death Benefits:
  2. 1) Death of the Child (life assured) before Risk Commencement Date:
  3. During the policy term if the child (life assured) dies before the risk commencement date, all the premiums pertaining to the child benefits paid up to the date of death excluding extra premium, rider premium if any will be paid to the proposer. The contract terminates upon payment of death benefit.
  4. 2) Death of the Child (life assured) after Risk Commencement Date: During the policy term if the child (life assured) dies after the risk commencement date, higher of (25% of sum assured or premiums paid up to the date of death excluding extra and rider premium if any) plus accrued guaranteed additions will be paid to the proposer. The contract terminates upon payment of death benefit.
  5. 3) Death of the Proposer during policy term: During the policy term, if the proposer dies and the child (life assured) is alive, then the following benefits shall be payable: All the future premiums of the child benefit will be Waived. 1.5% of the sum assured per month will be paid from the immediate anniversary date starting from the following month of death of the proposer till the end of the policy term or death of the child (life assured), whichever is sooner.
  6. 4)Death of the Child (life assured) after the death of the proposer during the policy term: During the policy term if the child (life assured) death occurs after the proposer’s death, then benefits stated under (I) or (II) depending on Risk Commencement Date will be payable to the nominee or legal heir of the proposer. On payment of the death benefit, the contract terminates.
  7. 5)Both Child (life assured) and Proposer die simultaneously: During the policy term, if both the life assured (child) and proposer die simultaneously, then the following benefits will be payable to the legal heir or nominee of the proposer. 100% of the sum assured. Benefits on child as stated under (I) or (II) depending on Risk Commencement Date. On payment the contract terminates immediately.
  8. Maturity Benefits:
  9. On survival of the Child (the life assured) to the end of policy term, 100% of the sum assured plus accrued guaranteed addition will be payable. The contract terminates upon payment of maturity benefits

गार्डियन माइक्रो लाइफ इन्स्योरेन्स नेपाल’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.

  1. If the insured passes away during the term

    The nominee receives the sum assured, and the policy ends.

    Typical for endowment plans — confirm the exact terms in the brochure.

  2. If the policy runs to maturity

    You receive the sum assured as a lump sum on the maturity date.

    Typical for endowment plans — confirm the exact terms in the brochure.

  3. 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 endowment plans — confirm the exact terms in the brochure.

Optional riders

Accidental death (ADB)PTD / PWBCritical illness (CI)

Premium

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