Group Term Assurance Plan for Affinity Groups
This is pure cover: it pays your family if something happens during the term, and there is no amount paid back at the end. Group term assurance for affinity groups — a group term life policy paying the member's sum assured to the nominee on death. No maturity benefit.
What's included
Key highlights
- Min SA: NPR 10,000
- Max SA: NPR 5,000,000
- Entry age: 18–70 yrs
- Minimum group size: 10
- Riders available
- Yearly premium mode
Features
- Death benefit: member's sum assured payable to nominee
- No maturity benefit
- Optional riders: Accidental Death Benefit, Permanent Total Disability, Permanent Partial Disability, Funeral benefit
- Minimum group size: 10 members
- Sum assured range NPR 10,000 to NPR 5,000,000
- Entry age 18–70 years
- Policy term 1 month to 30 months
- Premium payment mode: Yearly
What happens in each case
Each plan pays out differently depending on what happens during the term. These are the situations that matter for this kind of plan.
If the insured passes away during the term
This plan states: Sum Assured payable to nominee/beneficiary
If the policy runs to maturity
This plan states: Not applicable
If death is caused by an accident
This plan states: Optional up to NPR 5,000,000
Optional riders
Accidental Death Benefit (ADB)
Optional accidental death sum as opted, subject to maximum NPR 5,000,000
Permanent Total Disability (PTD)
Optional PTD sum as opted, subject to maximum NPR 5,000,000
Permanent Partial Disability (PPD)
Optional PPD sum as opted, subject to maximum NPR 5,000,000
Funeral Benefit
Up to 40% of member SA subject to maximum NPR 50,000
Loan & liquidity
- Policy loan
- Not available
- Surrender allowed
- After 0 years
- Paid-up value
- No
- Partial withdrawal
- No
Questions about this plan
What kind of plan is Group Term Assurance Plan for Affinity Groups?
Group Term Assurance Plan for Affinity Groups from Sanima Reliance Life Insurance is a term plan that is pure life cover for a fixed period, with no savings element, and suits people protecting family income or a loan.
Who can buy Group Term Assurance Plan for Affinity Groups?
The entry age for Group Term Assurance Plan for Affinity Groups is 18 – 70 years.
How long does Group Term Assurance Plan for Affinity Groups run?
The policy term for Group Term Assurance Plan for Affinity Groups is Minimum: 1 month, Maximum: 30 months.
How much cover can I take on Group Term Assurance Plan for Affinity Groups?
The sum assured available on Group Term Assurance Plan for Affinity Groups is Rs 10,000 – Rs 50,00,000.
What is paid if the insured passes away during the term?
Sum Assured payable to nominee/beneficiary
What is paid when Group Term Assurance Plan for Affinity Groups matures?
Not applicable
Which riders can be added to Group Term Assurance Plan for Affinity Groups?
Group Term Assurance Plan for Affinity Groups can be taken with the following optional riders: Accidental death (ADB), PTD / PWB. Each rider carries its own premium.
Premium
Quote on request