Group Endowment cum Term Life Plan
- Eligibility Criteria
- Minimum Sum Assured: 10,000/- for initial policy and 5,000/- for additional
- Maximum Sum Assured: As per the Group underwriting policy
- Minimum Entry Age (Nearest Birthday): 18 years
- Maximum Entry Age (Nearest Birthday): 55 years
- Maximum Maturity Age: 60 years
- Minimum Policy Term: 5 years
- Maximum Policy Term for Endowment: 20 Years
- Maximum Policy Term for term beyond End: 22 Year
- Members can be offered as policy term = Retirement Age- Entry Age
- Minimum group size: 10 or 75% of eligible members, whichever is higher
- Guaranteed Additions (GA): NPR 62 per 1000 SA
- Benefits/Special Features
- Death Benefit:
- During Premium Paying Term (PPT): Sum Assured along with accrued guaranteed Additions will be payable to nominee/beneficiary.
- During extended term: Sum Assured will be payable to nominee/beneficiary.
- Survival Benefit: On end of PPT, Sum Assured along with GA is payable
- Rider Benefits (Optional)
- Accidental Death Benefit (ADB): During PPT, Additional amount equal to ADB Rider sum assured or 10,000,000
- Permanent Total Disability (PTD): During PPT,
- Option I: 60 % of Rider SA is paid as lumpsum at time of incident and remaining is payable in 119 equal monthly installments. Further, future premiums, if any, will be waived.
- Option II: 100 % of Rider SA is payable in 120 equal monthly installments. Further, future premiums, if any, will be waived.
- Under both options, upon early death or end of policy term, remaining SA will be payable in lumpsum.
- CI: Benefits will be provided as per CI benefit TN.
- Premium Payment Mode/Structure
- Mode: Yearly/Half-Yearly/Qtrly
- Premium Rates: Fixed Premium Rates
