Reliance Flexible Endowment Plan.
Under this plan, insured can choose flexible premium payment term from various payment options available as illustrated below and can enjoy full risk coverage throughout the policy term. In addition, sum assured will be increased by 25% in every 5 years, the increased sum assured shall be applicable in case of death only.
|
Policy Term |
Premium Paying Term |
|||
|
10 |
8 |
|
|
|
|
15 |
8 |
12 |
|
|
|
20 |
8 |
12 |
16 |
|
|
25 |
8 |
12 |
16 |
20 |
Maturity Benefits:
On survival of the insured till the end of the policy term, the insured will receive full Sum Assured along with Vested Bonus (Simple Reversionary + Terminal, if any).
Death Benefits:
On death of the insured during the policy term, beneficiary will receive full Sum Assured along with accrued reversionary bonus.
|
Term |
Claim Payout |
|
1 to 5 Years |
100% of Sum Assured |
|
Above 5 Years to 10 Years |
125% of Sum Assured |
|
Above 10 Years to 15 Years |
150% of Sum Assured |
|
Above 15 Years to 20 Years |
200% of Sum Assured |
|
Above 20 Years to 25 Years |
225% of Sum Assured |
Eligibility Criteria:
Minimum Face Amount NPR. 50,000/-
Maximum Face Amount: As per the underwriting policy of the Company
Minimum Entry Age: 16 Years
Maximum Entry Age: 65 Years
Maximum Maturity Age: 75 Years
Policy Term: 10, 15, 20, 25 years
Minimum Policy Term: 10 Years
Premium Paying Term: 8, 12, 16, 20 years
Premium Payment Mode: Annually/Semi-Annually/Quarterly
Optional Benefits
Premium Waiver Benefits (PWB):
On Permanent Total Disability of the insured due to accident, the entire future premiums due subsequent to the date of Total Permanent Disability will be waived.
In case of life insurance of minor, on death of the Proposer during the policy term, the future premium due subsequent to the date of death will be waived till child attains an age of 16 years.
Permanent Total Disability (PTD):
On Permanent Total Disability of the insured due to accident, an additional amount equal to Sum Assured or NPR 1 Crore, whichever is less, is payable in monthly installment spread over 120 months. If the remaining term to maturity is less than 120 months, the balance installments is payable in lump sum on maturity or at death, whichever is earlier. This benefit is available only on insured attaining an age of 16 years.
Eligibility Criteria:
Minimum Sum Assured As per Basic Plan of Insurance
Maximum Sum Assured As per Basic Plan of Insurance or NPR 1 Crore, whichever is less
Minimum Entry Age 16 Years
Maximum Entry Age 65 Years
Minimum Policy Term 5 Years
Maximum Policy Term 54 Years
Maximum Maturity Age 70 Years
Accidental Death Benefits (ADB):
On death of the insured due to accident, an additional amount equal to Sum Assured or NPR 1 Crore, whichever is less, is payable to the beneficiary. This benefit is available only on insured attaining an age of 16 years.
Eligibility Criteria:
Minimum Sum Assured As per Basic Plan of Insurance
Maximum Sum Assured As per Basic Plan of Insurance or NPR 1 Crore, whichever is less
Minimum Entry Age 16 Years
Maximum Entry Age 65 Years
Minimum Policy Term 5 Years
Maximum Policy Term 54 Years
Maximum Maturity Age 70 Years