Jyoti Sunaulo Bhawishya Baal Jeevan Beema (Child Endowment Plan) is aimed to protect your child’s future and career. It is important to prepare and arrange funds for a child’s education and other social necessities of life today. Jyoti Sunaulo Bhawishya Baal Jeevan Beema fits your needs if you ensure your child’s life today. You can select the period of the plan to suit the age of the Child at which you want the policy proceeds to be paid.
Plan Features: Criteria
| Minimum Sum Assured | NPR 100,000 | ||
| Maximum Sum Assured | NPR 20,00,000 | ||
| Minimum Policy Term | 10 Yrs | ||
| Maximum Policy Term | 25 Yrs | ||
| Minimum Entry Age | 0 Yr | ||
| Maximum Entry Age | 15 Yrs | ||
| Maximum Maturity Age | 25 Yrs | ||
| Premium Payment Frequency | Yearly, Half Yearly & Quarterly | ||
Basic Benefits:
- At the time of maturity of the policy, the basic sum assured with Bonus will be paid to the insured.
- In case of unfortunate death of insured (Child) after the risk commencement date, 25% of basic sum assured will be paid to the proposer/beneficiary on death and remaining 75% of basic sum assured with Bonus will be paid on maturity.
- In case of unfortunate death of insured (Child) before the risk commencement date, all premium paid under this policy except rider premium will be refunded to the proposer/beneficiary.
Optional Benefits (Rider Benefits):
With the payment of extra premium, the following additional benefits can be added in this policy for insurance coverage of proposer (Child’s Father or Mother) of age 18 to 55 years:
1. Premium Waiver Rider Benefit:
In case of death or accidental disability of the proposer, all future payable premiums will be waived.
2. Monthly Income Benefit:
In the case of death proposer, 1% of the basic sum assured will be paid to the insured on a monthly basis till the maturity of the policy.
3. Proposer’s Term Life Insurance with Accidental Death Rider Benefit and 18 Diseases CI Rider Benefit:
With additional premium payment, the proposer can opt to take Separate Term Life Insurance coverage.
Benefits under Term Life Insurance:
- Death Benefit: In case of Death of Proposer, Sum Assured will be paid in a Lump sum to the beneficiary.
- Accidental Death Benefit Rider: In the case of Accidental Death of Proposer, an additional amount equal to basic sum assured (maximum up to Rs. 500,000) will be paid to the beneficiary.
- 18 Diseases Critical Illness Rider: In case Prosper is diagnosed with mentioned 18 defined critical illness, a lump-sum amount equal to basic sum assured or maximum up to Rs. 20, 00,000 will be paid to the insured.
Proposer’s Term Life Insurance can be granted along with Jyoti Sunaulo Bhawishya Baal Jeevan Beema (Child Endowment Plan) only in case the basic sum assured under child endowment plan is Rs. 350,000 and above.
