Life Insurance Company is dedicated to maintaining the highest level of professional integrity, regulatory compliance and corporate governance. Since its inception, the company has focused on policy- holder’s satisfaction.
The company is equipped with modern technology to conduct the insurance business in a professional manner and is in the position to properly deal with all types of clients and is ready to provide excellent service.
Choosing Life Insurance Company Plans
Life Insurance Company has a strong and diversified sales network to distribute an extensive range of products,
- Money Back,
- Whole Life,
- Joint Life,
- Term Life,
- Micro Life products etc.
The company has also individual face-to-face sales channels for its traditional products. The ambition of the company is to be the most trusted life insurance company in the Nepalese insurance market.
1. A Life Insurance Company should develop excellent human resources who can contribute to flawless service.
2. Life Insurance Company shall endeavour to inform and educate every Nepali citizen about the importance of Life Insurance for their future safety and security and the benefit to their life and their offspring.
3. They shall promote equality and transparency in both customer service and company management.
To develop and promote a Life Insurance company as a brand leader in the life insurance industry it should offer flawless products and services that exceed customer satisfaction.
Major Features of Limited Payment Endowment Life Insurance Policy
1. Name of Life Insurance: Nava Ratna(Limited Payment Endowment) Life Insurance Policy
2. Participating/Non participating in Profit: This policy will participate in profit
3. Minimum Entry Age: 11 Years(Single premium paying Life Insurance Policy will not be issued for teenagers below 16 years)
4. Maximum Entry Age: 65 Years
5. Maximum Age of Maturity: 70 Years
6.Policy Term : 5,10,15,20,25 or 30 Years
7. Minimum Sum Assured: Rs.50,000/-
8. Maximum Sum Assured: Based on the earning/financial condition of the proposer
9. Premium Paying Term :
|Insurance Term||Premium Paying Term|
|10 Years||1 or 5 Years|
|15 Years||1,5, or 10 Years|
|20 Years||1,5, 10, or 15 Years|
|25 Years||1,5, 10,15 or 20 Years|
|30 Years||1,5, 10,15, 20 or 25 Years|
10. Premium paying mode: Yearly, Half Yearly, Quarterly, Salary Saving Scheme(SSS) /Monthly
11. Rebate on the basis of Sum Assured:Rebate on Large Sum Assured
|From Rs. 1,00,000/- to Rs. 1,99,000/-||Re. 1 per thousand|
|Rs. 200,000 and above||Rs. 2 per thousand|
12. Rebate on the basis of premium payment method:
|Yearly Payment||2 per cent|
|Half Yearly Payment||1 per cent|
|Quarterly or Salary Saving Scheme(SSS)||No discount|
|Monthly Premium Payment||5 Per cent Additional|
13. Terms and Conditions of Payment :Either survival of the life insured till the maturity period or death of the life insured before the maturity period, Sum assured and bonus will be paid.
14. The below mentioned Optional Rider is available with this policy:
a) Accidental Death Benefit(ADB)
b) Accidental Death Benefit(ADB)+Permanent Total Disable(PTD)
c)Accidental Death Benefit(ADB)+Permanent Total Disabled(PTD) and Premium Waiver
Family Income Benefit:
Salient Features of Family Income Benefit: This policy will not participate in profits Minimum age at entry: 18 years Maximum age at entry: 53 years
1. Pension Plan
This policy will acquire paid-up value or surrender value. This policy will be eligible for a loan and this Policy will have maturity value.
2. Endowment Plan
This policy will acquire paid-up value or surrender value. This policy will be eligible for a loan This Policy will have maturity value.
3. Child Assurance Plans:
Child Assurance Plus must have a minimum age at entry: 0 years Maximum age at entry: 17 years Minimum Term: 5 Years to Maturity age not.
4. Limited Payment Anticipated Endowment Plan
This policy will acquire paid-up value or surrender value This policy will be eligible for a loan and this Policy will have maturity value.