Group Endowment Assurance Policy
- Eligibility Criteria
- Minimum Sum Assured: 100,000/-
- Maximum Sum Assured: No Limit
- Minimum Entry Age (Nearest Birthday): 18 years
- Maximum Entry Age (Nearest Birthday): 60 years
- Maximum Maturity Age: 65 years or normal retirement age
- Minimum Policy Term: 5 years
- Maximum Policy Term: 42 years
- Minimum group size: 10
- Benefits/Special Features
- Death Benefit: Sum Assured plus Bonus Declared and Vested.
- Survival till Maturity Benefit: Sum Assured plus Bonus Declared and Vested.
- Rider Benefits (Optional)
- Accidental Death Benefit (ADB): Additional amount equal to sum assured or 1,00,00,000/-, whichever is lower.
- Permanent Total Disability (PTD): Sum assured or 1,00,00,000/-, whichever is lower payable in 120 monthly installments; Should the remaining term to maturity be less than 120 months, the balance installment will be paid in lump sum on maturity or at death, if earlier.
- Premium Waiver Benefit (PWB): All the future premiums after the date of PTD due to accident will be waived.
- Premium Payment Mode/Structure
- Mode: Yearly/Half-Yearly/Quarterly
- Discounts/Rebate
- Discount on Sum Assured
|
Sum Assured Band |
Premium Rebate (per thousand) |
|
150,000 to 500,000 |
NRs 1 |
|
500,001 onwards |
NRs 2 |
|
Group Size |
Rebate (per thousand) |
|
250 to 500 |
0.5 |
|
Above 500 |
1 |
- Premium Conversion Factor
|
Frequency of Payment |
Premium Adjustment |
|
Half yearly |
0.505 |
|
Quarterly |
0.255 |
|
Monthly |
0.085 |
