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:
Table of Contents
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.
