LIFE INSURANCE PRODUCTS IN NEPAL

TAKEN FROM NEPAL LIFE INSURANCE COMPANY

ENDOWMENT
CHILDREN
KETA-KETI JEEVAN BEEMA
BAL SHIKSHA BEEMA YOJNA

SAVING
SURAKSHIT JEEVAN BEEMA YOJANA
RURAL ENDOWMENT PLAN

PROTECTION
JEEVAN LAXMI - TRIPLE BENEFIT SCHEME WITH BONUS

JEEVAN JYOTI

ANTICIPATED
JEEVAN UNNATI PLAN
NAULO DHANBARSHA PLAN
NAULO JEEVAN SAMBRIDDHI

WHOLE LIFE
JEEVAN SAHARA

TERM INSURANCE

GROUP INSURANCE PLAN

NEW TERM LIFE INSURANCE

SMART LIFE INSURANCE

ENDOWMENT
CHILDREN
KETA-KETI JEEVAN BEEMA
Every parent spuns dreams for better education marriage and successful life for their off springs.
In this context, Nepal Life Insurance Company for the first time in the Insurance Industry of the
country, launched a product with the sole aim of providing a tool of having risk coverage of life
of child and making future provision for the education, marriage and financial support for the
wards of aspiring parents. The salient features of plan are:
1. Policy can be issued on the life of just-born child till age of eleven, proposed by either of
the parent.
2. The risk on the life of child to start after completion of 7 years of age of child, if his her
age is below 7.
3. In case of child who has completed his age 8 or 9 the risk shall commence from age 10.
4. Minimum Sum Assured Rs. 100,000 and maximum Rs. 50,00,000.
5. The term of this policy is 19 minus age of child at commencement of policy.
6. Maturty age 19 year of child(fixed)
7. The policy vests in the child at 18 years of age.
8. Policy premium frequency: Either yearly, Half Yearly or quarterly with certain
conditions.
9. Premium waiver Benefit available on the life of proposer (either of parent only)with extra
payment.
10. Surrender as per condition but no loan available.
11. No accident benefit available on the life of child.
12. Policy participates in profits.

BAL SHIKSHA BEEMA YOJNA

Nepal Life Sunischit Bhawishya tatha Siksha Sawadhik Jeevan Beema
Eligibility Conditions:

Entry Age

Child Age From birth till 18 yrs

Proposer Age 20 – 65 yrs

Policy Term: 5 to 30 years (By the end of the term the age of the child should not exceed 30
years and the age of the proposer should not exceed 70 yrs)
Sum Assured:    Proposer – NPR. 50 thousand to 1 Crore
Child – NPR. 50 thousand to NPR. 25 Lakhs
Risk Coverage Fee: NPR. 1/- per thousand of child’s sum assured
Discount and extra charges on premium amount

Discount on Premium

5.01 – 10 NPR. 1/-  per thousand of

lakhs premium amount

Above 10 NPR. 2/-  per thousand of

lakhs premium amount

Extra Charges on Premium (According to

Payment Option)

Annual No extra charge

Half Yearly Extra 1% on premium

Quarterly Extra 2% on premium

Monthly Extra 3% on premium

Special Features:
1. Proposer's sum assured and respective bonus shall be paid to the proposer in case of
maturity of the plan and if the proposer is alive*.
2. In case of the demise of the proposer within the policy term
1. Bonus calculated till the time of the proposers death and premium waiver after
that till the end of term.
2. After the demise of the proposer, 10% of the sum assured shall be paid on an
annual basis till the end of the term. If any amount remains after the payment of
10% sum assured annually till the end of the term then that amount shall be paid
to the child / nominee.
3. In case of the demise of the insured child after the start of the policy term#, the sum
assured of the child shall be paid and the policy shall remain enforced for the proposer.
Regular premium will have to be paid till the end of the term.
4. Loan facility shall be available after 1 year of policy enforcement.
* In case of the end of the policy term with or without the demise of the proposer and if the child
is alive by that time then no amount of the child’s sum assured will be paid.
# Risk coverage of child shall start from 2 years after the enforcement of the policy or by the
time the child is 5 yrs old (whichever comes first).
Product's Special Features
- Entry Age - From birth till 18 yrs
- One policy, double risk coverage (Proposer & Child)
- Maturity amount received can be utilized for child's education
- In case of death of the proposer, regular fixed income will be provided to the child to ensure the
child's education till maturity
- Loan facility available after 1 year of policy enforcement

SAVING
SURAKSHIT JEEVAN BEEMA YOJANA
It is an endowment plan. It can be taken by anyone in the age group between the age of 11 years
to 60 years. The maximum age on maturity is 65 years. Under this plan the insured amount (Sum
Assured) with bonus is payable at the end of the specified period or on death of the life assured
before expiry of the term. This is the most popular insurance plan. By selecting the term
judiciously, one can provide for old age and get risk cover for the selected term.
Features of Surakshit Jeevan Beema Yojana:
1. It can be taken by anyone in the age group between the age of 11 years to 60 years.
2. Maximum age on maturity is 65 years.
3. Under this plan loan upto 90% of the surrender value after the policy has completed two
years term.
4. Minimum Sum Assured is Rs.25,000/- and Maximum Sum Assured depends upon the
income source of life to be assured.
5. Premium can be paid Yearly, Half-Yearly and Quarterly basis.
For example a person aged 30 years going in for insurance under this plan for 20 years for Sum
Assured 1 lakh will have to pay annual premium of Rs. 4,896/-. He will get Rs.1 lakh plus bonus
at the end of the term. In case of earlier death his nominee will get Rs. 1 lakh plus bonus thereon
subject to all premiums having been paid.

RURAL ENDOWMENT PLAN

Life insurance is a security which everyone deserve to have. However, due to financial
constraints, many individuals cannot buy insurance for themselves and their families. Rural
Endowment Plan, specially designed to address social security needs of rural areas.
This plan is a regular premium endowment with profit plan with built in accident benefit.
This plan, unlike a typical social commercial life insurance policy, offer assistance to families
with lower income and lesser savings and has following key features.
1. Simplified policy issue procedure
2. Inbuilt Accidental death benefit without extra cost
3. Grace period of 60 days to cater rural needs
4. Good Investment Plan with Death Risk Coverage
5. Simplified and Hassle-free claim procedure
KEY BENEFITS:
a)      Death Benefit:
i)       Death during 1st year of the policy:
(1)     Double sum assured only in case of accidental death.
(2)     Refund of premium in case of natural death excluding all extra /additional premiums.
ii)      Death after completion of one year till date of Maturity:
(1)     Double Sum Assured along with vested bonuses in case of accidental death.
(2)     Full Sum Assured along with vested bonuses in case of natural death.
b)      Maturity Benefit: On survival to maturity date sum assured plus bonus declared and
vested in the policy.
c)      Premiums are payable during the term of the policy or till death, if it occurs, during
theterm of the policy.
OTHER FEATURES:
1. Grace Period:The grace period of 60 days is given for premium payment to make sure
that policiesare not lapsed unless absolutely necessary.
2. Reinstatement: Possible up to five years from the last unpaid premium. Penalty charged
at 10% p.a.In case of reinstatements after 6-months a health declaration has to be signed
3. Surrender: Zero surrender values for the first two years. Surrender value will be as per
BeemaSamiti guidelines.
4. Loan: Policy loan shall be available after the policy acquires paid-up/surrender value.
Policy Loan shall be maximum of 90% of the surrender value.
5. Lapses: Non-payment of premium beyond the grace period results in lapse of policy.
6. Paid up value: If payment of premiums is discontinued after at least two years’
premiums have beenpaid, a paid up policy for an amount bearing the same proportion to
the sum assured asthe number of premiums actually paid bears to the number stipulated
for in the policy,will be automatically secured. Such reduced paid up policy will not be
entitled toparticipate in the profits declared thereafter.
SALIENT FEATURES:
1. Age at Entry : 16 years to 60 years
 2. Maximum Maturity Age : 65 years
3. Terms of Policy : 5 years to 49 years
4. Minimum Sum Assured: NRs. 10,000
5. Maximum Sum Assured: NRs. 200,000
6. Premium Payment Mode: Monthly, Quarterly, Half-Yearly and Yearly

PROTECTION
JEEVAN LAXMI - TRIPLE BENEFIT SCHEME WITH BONUS
The plan is the Triple Benefit Endowment Plan with Bonus payable on the following terms:
1. Basic Sum Assured with bonus payable on maturity
2. Two times of Basic Sum Assured with proportionate final bonus payable on normal death
under inforce policy within policy term.
3. Three times of Basic Sum Assured with proportionate bonus payable in case of accidental
death under inforce policy within policy term.
4. Minimum Sum Assured is Rs. 50,000 and maximum Rs. 100,000
5. Minimum entry age is 16 yrs and maxmimum entry age is 50 yrs
6. Minimum term is 7 yrs and maxium term is 25 yrs or maximum age of 60 yrs which ever
is earlier.
7. The mode of payment is either yearly or half yearly.

JEEVAN JYOTI
This plan is most popular form of life assurance. It makes provision for the family of the Assured
in the event of early death, as also assures a lump sum amount at a desired age. The amount
assured, if not paid by reason of earlier death, becomes payable at the end of the endowment
term.
If the payment of premiums is discontinued after at least three years’ premiums have been paid, a
paid up policy of an amount bearing the same proportion to the sum assured as the numbers of
premiums actually paid bears to the number stipulated for in the policy, will be automatically
secured. Such reduced paid up policy will not be entitled to participate in the profits declared
thereafter.
Features of Jeevan Jyoti:
Plan Name: Jeevan Jyoti Plan
Term Of returning of Sum Assured: After Maturity of the Policy or assurance early death.
Maximum Plan Term: 30 years
Minimum Plan Term: 10 Years
Entry Age Level : 11 Years
Maximum Age Level : 60 Years
Minimum Sum Assured: 50,000/-
Maximum Sum Assured : According to the imcome of the assurance.
Accidental Benefit : ADB/PWB/PTD Available for Age at entry 16 years and above.
Loan : Policy Being running for at least 1 year for Single Premium mode and after 2 yearly
premium payment for other mode.
 

Premium Paid Term

Terms Of Policy in Years:  10  15  20  25  30

Premium Paying Term in Years  1/5  1/5/10  1/5/10/15  1/5/10/15/20  1/5/10/15/20/25

ANTICIPATED
JEEVAN UNNATI PLAN
We all strive to provide “The Best” to our family to accomplish their dreams and aspirations and
to ensure happiness at every stage of life. Sometimes we may have to say “No” due to financial
constraints; wouldn’t it be great if we never had to say “No”?
To support you in achieving the dreams and aspirations of your family, Nepal Life Insurance
presents Limited payment Money back plan a savings and protection plan that provides lump
sum payouts at regular intervals to meet your interim financial requirements and provide the best
for your family, while maintaining full risk cover for the entire period.
Key Benefits:
 Money back at regular intervals.
 On maturity, only bonuses declared and vested in the policy plus 40% of Sum Assured
will be paid.
 In case of the death of the life insured before maturity, death benefit equal to 2.5 times of
basic Sum Assured in case of single payment mode, basic sum assured only in case of
other payment mode plus bonuses declared and vested in the policy as on the date of
death; without deduction of survival benefits already paid as per below Money Back
Schedule.
Money-back, Payment Schedule & Death Benefit:

Premiu
Policy m Maturity In case of death within
Survival Benefit (Money Back)
Term Paying Payment policy Term
Term

12 yrs 10 yrs or After 4 years 30% of Sum 40% of Sum In case of single premium
Single Assured Assured plus mode - 2.5 times of sum
 assured with bonus of basic
30% of Sum assured,
After 8 years Bonus
Assured Other payment option- Basic
sum assured with bonus

20% of Sum
After 4 years
Assured In case of single premium
mode - 2.5 times of sum
40% of Sum
14 yrs or 20% of Sum assured with bonus of basic
16yrs After 8 years Assured plus
Single Assured assured,
Bonus
Other payment option- Basic
After 12 20% of Sum sum assured with bonus
years Assured

15% of Sum
After 4 years
Assured
In case of single premium
15% of Sum
After 8 years mode - 2.5 times of sum
Assured 40% of Sum
18 yrs or assured with bonus of basic
20 yrs Assured plus
Single assured,
After 12 15% of Sum Bonus
Other payment option- Basic
years Assured
sum assured with bonus
After 16 15% of Sum
years Assured

Policy Eligibility:
1. Age at Entry : 16 years to 58 years
2. Maximum Maturity Age : 70 years
3. Minimum Sum Assured : Rs.50,000
4. Premium Payment mode: Single, Yearly, Half-Yearly, Quarterly and Monthly
5. ADB/PWB/TPD: [Accident only- Available for Age at entry 16 years and above].
Available for full policy term, equal to sum assured but not more than 50,000,000 by
payment of additional premium during premium paying term subject to maximum age of
70 years.

NAULO DHANBARSHA PLAN

6. Naulo Dhanbarsha is Limited Payment Money-back (Anticipated) Endowment Plan.
Company has launched this product after successful launching of previous anticipated
endowment plan keeping in mind the customer demands requiring more money-back
during the policy terms. During the policy terms there shall be 5 payments thus creating
more liquidity option during the policy periods as well as policy loan is available after
 one year after paying 2 yearly premiums. The risk of death of insured is covered through
the period and whereas premium payment are made for limited terms only.

Policy Premium Pre – payment (Money Bonus In case of death within

Term Payment Term Back) Payment Insurance Term

After 2 10% of Sum

years Assured
After 4 20% of Sum
years Assured After 10
10 yrs 8 yrs Sum Assured with bonus
After 6 30% of Sum years
years Assured
After 8 40% of Sum
Years Assured

After 3 10% of Sum

years Assured
After 6 20% of Sum
years Assured After 15
15 yrs 12 yrs Sum Assured with bonus
After 9 30% of Sum years
years Assured
After 12 40% of Sum
Years Assured

After 4 10% of Sum

years Assured
After 8 20% of Sum
years Assured After 20
20 yrs 16 yrs Sum Assured with bonus
After 12 30% of Sum years
years Assured
After 16 40% of Sum
years Assured

After 5 10% of Sum

years Assured
After 10 20% of Sum
years Assured After 25
25 yrs 20 yrs Sum Assured with bonus
After 15 30% of Sum years
years Assured
After 20 40% of Sum
years Assured

7. Premium Payment: Premium can be paid either monthly, quarterly, half-yearly or yearly
mode. If customer wishes to pay all premiums at once, he can choose single premium
mode too.
Death Risk: Sum Assured plus acquired bonus shall be payable to nominee or next kin of
insured as per Insurance Act without deducting any pre-payment (money back) made
 earlier if any. In case of single premium payment mode 2.5 of Sum Assured plus acquired
bonus shall be payable.
Rider: Combined Accidental Death Benefit (ADB), Permanent Total Disability (PTD)
and Premium Waiver Benefit (PWB) riders are available under this plan. If insured dies
within the policy terms due to accident, then additional amount equal to Sum Assured not
exceeding 5 million shall be paid to nominee or his/her next kin. If Insured becomes
permanent total disable as stated in policy bond due to accident then his/her future
premium of Sum Assured not exceeding 5 million shall be waived and insured shall get
an amount equal to Sum Assured not exceeding5 million shall be paid in 120 monthly
equal installments, as well as policy shall remain enforced. 
Entry Age: 16 Yrs to 60 Yrs 
Maximum Age at Exit: 70 Yrs

NAULO JEEVAN SAMBRIDDHI

Naulo Jeevan Sambridi is Limited Payment Money-back (Anticipated) Endowment Plan.
Company has launched this product after successful launching of previous anticipated
endowment plan (Jeevan Sambdirhi) keeping in mind the customer demands requiring more
money-back during the policy terms. This product has added features of single premium payment
option, policy loan availability after one year after paying 2 yearly premium, modified
ADB/PTD/PWB facilities and added policy tenure of 10 and 25 yrs. During the policy terms
there shall be sum assured payment before the policy maturity at the interval of 4 yrs from date
of policy issue.  The risk of death of insured is covered through the period and whereas premium
payment are made for limited terms only.

Policy Premium Pre – payment (Money Bonus In case of death within

Term Payment Term Back) Payment Insurance Term

After 4 40% of Sum

years Assured After 10
10 yrs 10 yrs Sum Assured with bonus
After 8 60% of Sum years
years Assured

After 4 30% of Sum

years Assured
After 8 30% of Sum After 15
15 yrs 12 yrs Sum Assured with bonus
years Assured years
After 12 40% of Sum
years Assured

20 yrs 16 yrs After 4 20% of Sum After 20 Sum Assured with bonus
years Assured years
After 8 20% of Sum
years Assured
After 12 20% of Sum
years Assured
 After 16 40% of Sum
years Assured

After 4 15% of Sum

years Assured
After 8 15% of Sum
years Assured
After 12 15% of Sum After 25
25 yrs 20 yrs Sum Assured with bonus
years Assured years
After 16 15% of Sum
years Assured
After 20 40% of Sum
years Assured

Premium Payment: Premium can be paid either monthly, quarterly, half-yearly or yearly mode.
If customer wishes to pay all premiums at once, he can choose single premium mode too.
Death Risk: Sum Assured plus acquired bonus shall be payable to nominee or next kin of
insured as per Insurance Act without deducting any pre-payment (money back) made earlier if
any. In case of single premium payment mode 2.5 of Sum Assured plus acquired bonus shall be
payable.

Rider: Combined Accidental Death Benefit (ADB), Permanent Total Disability (PTD) and
Premium Waiver Benefit (PWB) riders are available under this plan. If insured dies within the
policy terms due to accident, then additional amount equal to Sum Assured not exceeding 5
million shall be paid to nominee or his/her next kin. If Insured becomes permanent total disable
as stated in policy bond due to accident then his/her future premium of Sum Assured not
exceeding 5 million shall be waived and insured shall get an amount equal to Sum Assured not
exceeding 5 million shall be paid in 120 monthly equal installments, as well as policy shall
remain enforced. 
Entry Age: 16 Yrs to 60 Yrs 
Maximum Age at Exit: 70 Yrs

WHOLE LIFE
JEEVAN SAHARA
The plan is specially designed Endowment product to cover the wide range of risk for our social
communities of Nepal:

The insured amount (sum assured) together with bonus is payable on maturity date and full
insured amount (sum assured) again payable on death of life assured after maturity.
1. In case of death before maturity date under inforce policy, the insured amount (sum
assured) and whatever bonus declared is payable.
 2. insured amount (sum assured) is payable in case of death of the policy holder after
maturity of policy term.
3. Minimum insured amount (sum assured) is Rs. 100,000 and no limit for maximum
insured amount (sum assured) depending upon the income source of the proposer.
4. Minimum entry age is 16 yrs and maximum entry age is 65 yrs.
5. Minimum term is 5 yrs and maximum term is 54 yrs or maximum age of 70 yrs which
ever is earlier.
6. The mode of payment is either yearly, half yearly or quarterly.

TERM INSURANCE
GROUP INSURANCE PLAN
This plan enables employers to provide life insurance benefit to their employees at low rate of
premium. It is a hassle free plan wherein risk coverage is given up to the normal retirement date
without any health requirements up to age 45 and with only declaration of good health thereafter.
The savings made through the simple scheme of administration is passed on to the employees by
substantial reduction in premium.
The minimum age at entry is 18 years and maximum age at entry is 55 years. The S.A. allowed
varies from Rs. 50,000 to Rs. 3,50,000 depending upon the category. The group size of 50
employees, contribution of minimum of 50% of premium by the employer, joining of the scheme
by a minimum of 75% of confirmed employees on introduction and compulsory joining by
employees recruited thereafter are some of the binding features of the scheme. Variations in the
scheme and its benefits are possible depending on the size and composition of the group and
participation of the employer.
The company is trying to sell the above products in large scale so as to fulfill its mission of
providing social security to every eligible citizen and also for spreading and creating awareness
about the need of insurance. With increase in insurance awareness among the general public and
specific target groups the company plans to bring in new products having greater risk/term
insurance components. It also plans to bring in products providing pensions, health care and
plans with multiple add on/optional advantages and risk covers.

NEW TERM LIFE INSURANCE

New Term Life Insurance is one of the unique products which make provision for the family of
the Assured in the event of early death .To cover high risk in low premium is the specialty of this
product. If a person has taken loan from Bank/Finance and insured under this plan the liability
against his loan would be borne by the related insurance company.
Features of New Term Life Insurance:
1. In this plan we have 5,10,15,20,25 and 30 years of Term.
2. Minimum S.A is 1,00,000/- and maximum S.A depends upon the income source of the
life to be assured.
 3. Minimum entry age is 18 yrs and maximum entry age is 60 yrs.
4. The mode of payment is either yearly or half yearly .
5. 5% rebates on premium for above 1000000 Sum Assured .
6. Riders are not applicable in this plan.
*. Under this Plan Full S.A. payable in case of Death of Life to be assured on Inforce policy.

SMART LIFE INSURANCE

The plan is a non-participating single premium one year term assurance plan. It provides pre-
decided sum assured on death of the life assured during the policy period.
BENEFITS:
Death Benefit: In the event of unfortunate death of the life assured during the policy term, the
Sum assured will be paid to the nominee / beneficiary.The policy will terminate on payment of
the death benefit and nothing will be payable thereafter.
Maturity Benefit: No maturity benefit will be payable under this plan.
ELIGIBILITY CRITERIA:
Minimum Age at Entry:     16 years (Last Birthday)
Maximum Age at Entry:     60 years (Last Birthday)
Policy Term:                        1 year
Premium Payment Term:    Single Premium
Minimum Sum Assured:      NRs. 250,000
Maximum Sum Assured:     No limit, subject to medical and financial underwriting. Sum
Assured more than 20 lakhs requires other conventional policies equal to desired sum assured.