Reliable Higher Education Life Insurance

Reliable Higher Education Plan

Reliable Higher Education Life Insurance is a best life insurance policy for children. Parents can plan for the higher education of the children by purchasing this plan. The maturity value received from this policy will be used for the higher education of the children. The parents can purchase the policy from the time of birth till age of 15 years. Premium can be paid in Yearly/Half Yearly/Quarterly/Monthly.

Risk date will start only when child attains age of 6 years or completion of 2 policy years whichever is later.

Benefits:

Death Benefits:

On death of the child during the policy term but before commencement of risk, the Return of Premium excluding extra premiums till the date of death will be payable to the nominee / beneficiary. The policy will terminate upon such payment.

On death of the child during the policy term but after commencement of risk, the Insured Amount under the policy plus the Accrued Bonus as on the date of death will be payable to the nominee / beneficiary. The policy will terminate upon such payment.

Maturity Benefits:
On the survival of the child to the end of the policy term, the Insured Amount plus the Accrued Bonus shall be payable.

Features:
Minimum Insured Amount : Nrs. 50,000
Minimum Age at Entry : 0 years (Last Birthday)
Maximum Age at Entry : 15 years (Last Birthday)
Minimum Age at Maturity : 10 years (Last Birthday)
Maximum Age at Maturity : 25 years (Last Birthday)
Policy Term : 10 to 25 years

Other Benefits:

Monthly Income Benefits:
By purchasing this child will be covered by additional benefit. On death of the proposer/parent during the policy term, a monthly benefit equal to 1% of the Insured Amount under the rider will be payable to the life assured (child) under the base policy on every monthly anniversary of the rider from the date of death of the proposer/parent upto the end of the rider term or the death of the life assured (child) whichever is earlier and the rider shall terminate thereafter.

Premium Waiver Benefits:
By purchasing this child will be covered by additional benefit. All future Premiums under the base policy to which the rider is attached shall be waived off on disability of the proposer/parent resulting from accident or sickness. On maturity child will receive Insured Amount plus additional bonus. Bonus will be given according to the latest bonus rate.

Critical Illness Benefit:

This benefit should be purchased along with another life insurance plan. This offers protection to policyholder in case of illness. If the policy holder is diagnosed with a specific critical illness during the policy term, a sum equal to the Insured Amount of this benefit will be paid to the policy holder. The amount will be paid only one time during the policy period.

Features:

Minimum Insured Amount: Nrs. 50,000 Maximum Insured Amount: Nrs. 50,00,000 Minimum Age at Entry : 18 year (Last Birthday) Maximum Age at Entry : 60 years (Last Birthday) Maximum Age at Maturity : 65 years (Last Birthday) Policy Term : 5 to 20 years

Waiting Period:

A waiting period of 90 days shall be applicable under this benefit from the date of inception or reinstatement. No claim shall be paid.

Survival Period:

A survival period of 30 days is applicable from the diagnosis of Critical Illness.

Payment Mode:

Yearly, Half Yearly, Quarterly and Monthly

Critical Illness covered:

  • Cancer (All Types of Cancer)
  • Kidney Failure (End Stage Renal Failure)
  • Primary Pulmonary Arterial Hypertension
  • Multiple Sclerosis
  • Major Organ Transplant
  • Coronary Artery By-Pass graft (with surgery to divide  the breastbone)
  • Surgery to Aorta
  • Heart Valve Surgery
  • Stroke
  • Myocardial infraction (First Heart Attack)
  • Coma
  • Total Blindness
  • Paralysis
  • Benign Brain Tumour
  • Mental Illness caused due to accident (Traumatic)

Underwriting Requirements:

For applicants above 50 years, following medical examinations are needed for the issuance of rider.

  • General Medical Examination
  • ECG with 12 leads
  • 6th PA view chest x ray
  • Urine test

Hospitalization Cash Benefit:

This benefit should be purchased along with another life insurance plan. This provides the cash benefit to the policy holder to cover hospitalization expense due to accident during the policy term.

Benefits:

The benefit is payable to the policy holder in the event of being hospitalized for surgery or admitted to an Intensive Care Unit (ICU) due to accident. The length of stay should be minimum 72 hours and hospitalization should be within 24 hours of accident causing bodily injury.

Cash benefit of  of Insured Amount per day of hospitalization will be provided to the policy holder subject to maximum of 365 days per accident.

Features:

Minimum Insured Amount: Nrs. 50,000 Maximum Insured Amount: Nrs. 1,00,00,000 Minimum Age at Entry : 18 year (Last Birthday) Maximum Age at Entry : 55 years (Last Birthday) Maximum Age at Maturity : 60 years (Last Birthday) Policy Term : 5 to 20 years

Payment Mode:

Yearly, Half Yearly, Quarterly and Monthly

Location of Hospitalization: Nepal

Premium:  Nrs. 6  for Insured Amount of Nrs. 100,000/-

First Policy Issue Date : 2074-06-31

Bonus Rate