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Naulo Jeewan Sambriddhi Jeevan Beema Yojana

Nepal Life “Naulo Jeewan Sambrddhi Beema Yojana” How to participate? What are the features?

 

Nepal Life Insurance, which has come forward with the original slogan of “आजको बचत र लगानी भोलिको समृद्ध जिन्दगानी”, another of the various life insurance plans made public by the company is the Naulo Jeewan Sambrddhi Beema Yojana '.

Mr. Umapati Pokharel, Deputy General Manager of Nepal Life, said that the scheme was targeted at the business community. It is also a money back plan. Pokharel said that the insured amount (insured amount) will be refunded automatically within a certain period.

The business community in particular does not want to invest all at once and seeks quick investment returns, he argues, adding that the scheme is very beneficial for such groups. Pokharel said that the benefits can be reaped by joining the scheme as it can be paid in small installments and returned within a limited period.

He claims that the scheme is fruitful as the sum assured will be refunded at intervals of 4-4 years before the end of the insurance period (contract). This will cover the risk of the limited year premium payment during the insurance period. In case of death within the insurance period, the entire sum insured and the earned bonus will be lump sum.

In addition, the company has also provided disability facilities. The company has stated that there is a facility to get loan within one year on insurance policy. The loan can be availed by investing in other sectors.

Features of ‘Naulo Jeewan Sambrddhi Beema Yojana’

This life insurance plan covers people between the ages of 16 and 60. The completion age of this scheme is fixed at 70 years. As it can be insured for 10, 15, 20 and 25 years, it is linked to prosperity, the company said. Umapati Pokharel, deputy general manager of the company, said that the scheme is a very simple and profitable scheme as paying the premium for a limited period will carry the risk throughout the insurance period.

In this plan, the entire sum insured can be refunded at an interval of 4-4 years before the end of the insurance period. A lump sum bonus amount will also be available at the end of the insurance period. The scheme also provides loan facility. Pokharel said that one can easily take a loan by pledging an insurance policy within a year of starting insurance. He also said that in case of death of the insured during the insurance period, the sum assured and application bonus amount will be provided without deducting the periodic payment made in various installments.

Term of payment of premium

In ‘Naulo Jeewan Sambrddhi Beema Yojana’, if the insured is alive, the company will pay a certain percentage of the sum assured to the insured before the end of the insurance term and if the insured dies before the end of the insurance period, the full amount will be paid to the dependent family. The company has stated.

Under this scheme, the company will start making advance payment to the insured from 4 years of commencement of insurance as per the contract period of the insured. Accordingly, the company will pay a maximum of 40 percent of the insurance at the end of the first four years to the insured who has purchased a minimum 10-year insurance policy and the remaining 60 percent in the second eight years.

Similarly, an insured with a 15-year insurance contract will receive 30 percent at the end of the first 4 years, 30 percent at the end of 8 years and the remaining 40 percent at 12 years. Similarly, the insured with a contract period of 20 years will get 20 percent at the end of the first 4 months of insurance, 20 percent at the end of 8 years, 20 percent at the end of 12 years and the remaining 40 percent at the end of 16 years.

At the end of the first 4 years of insurance, 15 per cent, 15 per cent in 12 years, 15 per cent in 16 years, 15 per cent in 15 years and the remaining 40 per cent in 20 years will be paid in full.

According to the rules, if the policy is in force and the insured survives till the expiration date of the insurance period, the sum assured will be paid in installments as mentioned in the terms and the bonus earned will be paid in lump sum at the end of the policy term. However, the company says that the amount of 2.5 times the sum assured and the earned bonus will be paid to the insured in a single insurance fee payment method.

The company says that the amount paid for the term payment will not be deducted while making such payment. In such a scheme, persons between the age of minimum 16 years and maximum 60 years will be able to participate in the insurance scheme and the maximum age of termination of insurance is up to 70 years. The company has stated that one can buy insurance policy for 10 to 25 years under this scheme.

Arrangement of discount on the basis of sum insured

Under this scheme, the minimum sum assured can be fixed from Rs 50,000 to the maximum depending on your source of income. The company has also arranged a discount.

There is a 5 percent discount on monthly premium payment based on the method of payment. The company has also stated that you will get 2 percent annual and 1 percent discount on semi-annual premium payment. Similarly, the company has stated that there is no discount in quarterly premium payment.

Nepal Life has also given a discount on the basis of the sum insured under this scheme.