Tuesday, May 17, 2022

Term Life Insurance Plans for Old People of Aged 50+

Term Life Insurance: The plan is a non-participating term assurance plan. It provides a pre-decided sum assured to the beneficiary on the death of the life assured during the policy period.

To cover high risk at a low premium is the speciality of this product. Salient Features:

Term Life Insurance

  • Minimum Age at Entry: 16 years (Nearer Birthday)
  • Maximum Age at Entry: 65 Years (Nearer Birthday)
  • Minimum Premium Paying Term: 5 years
  • Maximum Premium Paying Term: 25 years
  • Maximum maturity Age: 70 years
  • Minimum Sum Assured: NRs.2,50,000/-
  • Maximum Sum Assured: Unlimited
  • Mode of Premium Payment: Yearly/Half-yearly/Quarterly

Benefits of Term Life Insurance Plans:

Death Benefit: 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.
Maturity Benefit: No maturity benefit will be payable under this plan.

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