Sukhamaya bima yojana (Endowment/Whole Life Insurance Plan)
About this plan
This plan guarantees lifetime protection and also serves as an estate-planning vehicle. Coverage continues until the insured attains age 100 even after the premium paying term. Death benefit includes Sum Assured plus declared and vested bonuses (during premium paying term). Survival benefits and a fully paid-up whole life assurance apply at the end of the premium paying term.
What's included
Key highlights
- Lifetime protection (to age 100)
- Min Sum Assured NPR 100,000
- Participating plan with declared bonuses
Features
- Lifetime cover up to age 100
- Minimum Sum Assured NPR 100,000; No maximum limit
- Death benefit: Sum Assured plus declared & vested bonuses during premium paying term; Sum Assured after premium term
- Survival benefit: Sum Assured + Bonus at end of premium paying term and a fully paid-up whole life assurance
- Optional riders availiable
- Premium payment modes: discounts/rebates
Eligibility & term
- Entry age
- 18 – 65 years
- Policy term
- 5 – 52 years
- Sum assured
- From Rs 1,00,000
- Premium modes
- Yearly, Half-yearly, Quarterly, Monthly
Benefits payout
- Death benefit
- Sum Assured + Declared & Vested Bonus (during premium paying term); Sum Assured (post premium term)
- Maturity benefit
- On survival to end of premium paying term: Sum Assured + Declared & Vested Bonus and fully paid-up whole life assurance
Declared bonus
Term-wise Breakdown
FY 2080/81
| Tenure (Years) | Rate (per '000) |
|---|---|
| 0-9 | Rs. 30 |
| 10-14 | Rs. 35 |
| 15-19 | Rs. 40 |
| 20-24 | Rs. 45 |
| 25 and above | Rs. 60 |
Reversionary bonus rates declared for the latest fiscal year based on policy term. Rates are revised annually and are not guaranteed for future years.
Optional riders
Accidental Death Benefit (ADB)
Up to age 70: additional amount equal to Sum Assured or NPR 10,000,000 whichever is lower.
Permanent Total Disability (PTD)
Up to age 70: Sum Assured or NPR 10,000,000 whichever is lower payable in 120 monthly installments (or lump sum if remaining term <120 months).
Critical Illness (CI)
On diagnosis of covered critical illness: additional amount equal to Sum Assured or NPR 5,000,000 whichever is lower.
Loan & liquidity
- Paid-up value
- Yes
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