Kathmandu. Sanima Reliance Life Insurance has introduced various types of insurance schemes. The company is selling various attractive schemes to the customers. One of them is the ‘Limited Payment Term Life Insurance’ scheme.
This plan seems suitable for people who want to save and want to prepare for future emergencies. Flexible premium payments and increase in risk cover every 5 years. It also provides additional protection to riders. Which provides protection to the insured in accidental death benefit, complete permanent disability, insurance exemption facility and fatal stop protection.
The insured can get insurance for a period of 10, 15, 20 and 25 years. The company can choose the payment period of 8, 12, 16 and 20 years respectively.
To participate in this scheme, the age of the insured should be at least 18 years and maximum 65 years. According to the company, the insured can buy a minimum sum assured of Rs 25,000 in this scheme, but the sum assured will be determined on the basis of the source of income of the insured.
Features are :
Save for future
The insured will get the insurance and bonus after the completion of the insurance term. This will ease future economic crises.
Similarly, if the insurer’s death insurance period is not over, then the family will get the full amount of the sum assured i.e. the amount equal to the insured and bonus.
Alternative rider benefit
Under this scheme, the insured will get up to double the sum assured in case of accidental death of the insured.
Under the full permanent disability facility, the insured will be paid in 120 monthly installments up to the sum assured. According to the company, this plan will provide ease to the insured even in uncomfortable situations. Apart from this, the facility of exemption of insurance fee will also be available. If the insured has complete permanent disability after an accident, his insurance fee will be waived.
The scheme also offers prevention of deadly diseases. If one of the 18 insured is suffering from a deadly disease, he will get a lump sum payment of up to Rs 5 million. It provides financial support on health problems.
Flexible payment
In this scheme, there is a flexible arrangement for premium payment. The insured can pay the premium annually, half-yearly and quarterly. The premium payment period for each period is also different. The insured who wants to have 10-year term insurance can choose a payment period of 8 years. With a tenure of 15 years, you can choose 8 years and 12 years premium payment option. In case of 20 years, they can choose the payment period of 8, 12 and 16 years.
Similarly, the insured who chooses 25 years insurance period can choose 8, 12, 16 and 20 years of payment. Flexible payments provide appropriate payment facilities according to your budget and needs.
Why choose ?
This plan is not only life insurance but also a way to save for future emergencies and important expenses. The lump sum payment that comes with bonuses after the end of the insurance period provides great financial security in the future.
It is beneficial for all types of people as the short-term insurance premium is paid up to 325 percent of the entire insurance policy and attractive bonus payment even at the end of the life insurance period.
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