This plan is an ideal savings and protection plan for your children’s future. Apart from covering the risk, through periodic payments, funds built up over time can be used for a child’s higher education, marriage, social events or any other needs.

Basic Benefits:

• At the time of Policy Maturity Sum Assured plus vested bonus will be paid to the Insured (Child).
• In case of death of child before risk commencement, paid premium (except rider and extra premium) will be paid and the policy will be terminated.
• In case of death of child after risk commencement, 25% of Sum Assured Plus vested Bonus or paid premium (except rider and extra premium) whichever is higher will be paid and the policy will be terminated.

Commencement of risk

Child risk under this plan will commence either two years after the date of commencement of the policy or from the policy anniversary falling immediately after the completion of five years of age, whichever is earlier.  proposer’s risk cover starts immediately after the  policy commencement.

In case of death of proposer:

• 1% of Sum Assured will be paid till the policy maturity date as  monthly income benefit
• Premium will be waived till the maturity.
• Sum Assured plus bonus will be paid at the time of policy maturity.

In case of death of Insured (Child) after proposer’s death:

• 25% of Sum Assured plus Bonus or paid premium (except rider and extra premium) whichever is higher will be paid and the policy will be terminated.

In case of death of proposer and child at same time

• 100% Sum Assured plus bonus will be paid as coverage of proposer and 25% of sum assured will be paid as coverage of insured (Child) and the policy will be terminated.

Comprehensive Additional Benefit

Option to choose (Proposer Only): Accidental Rider Benefit, Accidental Rider Benefit/Permanent Total Disability/Premium Waiver Benefit, Critical Illness
Eligibility:

• Minimum Sum Assured: NPR 25,000
• Maximum Sum Assured: As per the source and level of income.
• Entry Age (Proposer): 21-65 Years
• Entry Age (Child): 1 month to 17 Years
• Rider (ADB, PTD/PWB, CI) Entry Age: 21
• Rider (ADB, PTD/PWB, CI) Maturity Age: 70
• Policy Term: 5-25Years
• Maximum Maturity Age (Child): 25 Years
• Maximum Maturity Age (Proposer): 70 Years
• Premium Payment Mode: Yearly, Half-Yearly, Quarterly, Monthly , Single Mode

Surrender Value

Surrender value is only applicable upon completion of three full policy years, if the premiums are paid for a minimum period of 3 years and post completion of 3 years from the date of commencement of policy. The surrender value calculation is consistent with the Nepal Insurance Authority’s guideline.
Policy Loan

Policy loan is only applicable upon completion of three full policy years in case of regular / limited premium/Single premium. A policy loan is available up to 90% of Surrender Value or 25% of Sum assured plus accrued bonus whichever is lower . In the case of death of both, the child and the proposer, the loan amount will be deducted from the benefit payable.