Sukhamaya bima yojana (Endowment/Whole Life Insurance Plan)
by Sanima Reliance Life Insurance
In simple terms: you pay a fixed amount each year, and at the end of the term you get your cover amount back together with the bonus the insurer adds along the way. 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.
Declared bonus
Rate by policy term
Declared FY 2081/82
| Policy term | Rate / 1,000 | Prev. year |
|---|---|---|
| 0-9 | Rs 30 | Rs 30 |
| 10-14 | Rs 35 | Rs 35 |
| 15-19 | Rs 40 | Rs 40 |
| 20-24 | Rs 45 | Rs 45 |
| 25 and above | Rs 60 | Rs 60 |
Recent years
- FY 2081/82
- Rs 30–60/ 1,000
- FY 2080/81
- Rs 30–60/ 1,000
- FY 2079/80
- Rs 30–60/ 1,000
- FY 2078/79
- Rs 61–75/ 1,000
- FY 2077/78
- Rs 35–70/ 1,000
Source: Sanima Reliance Life Insurance declaration for FY 2081/82
Bonus rates are declared annually and are not guaranteed. Past rates do not guarantee future rates.
Maturity estimator
Estimated value at maturity
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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
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 + Declared & Vested Bonus (during premium paying term); Sum Assured (post premium term)
After the premium-paying term ends
This plan states: On survival to end of premium paying term: Sum Assured + Declared & Vested Bonus and fully paid-up whole life assurance
If death is caused by an accident
With the accidental death rider, an additional amount is paid on top of the sum assured. The rider is optional and carries its own premium.
Typical for whole life plans — confirm the exact terms in the brochure.
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
Questions about this plan
What kind of plan is Sukhamaya bima yojana (Endowment/Whole Life Insurance Plan)?
Sukhamaya bima yojana (Endowment/Whole Life Insurance Plan) from Sanima Reliance Life Insurance is a whole life plan that covers the insured for life rather than a set number of years, and suits people who want to leave money behind for their family.
Who can buy Sukhamaya bima yojana (Endowment/Whole Life Insurance Plan)?
The entry age for Sukhamaya bima yojana (Endowment/Whole Life Insurance Plan) is 18 – 65 years.
How long does Sukhamaya bima yojana (Endowment/Whole Life Insurance Plan) run?
The policy term for Sukhamaya bima yojana (Endowment/Whole Life Insurance Plan) is 5 – 52 years.
How much cover can I take on Sukhamaya bima yojana (Endowment/Whole Life Insurance Plan)?
The sum assured available on Sukhamaya bima yojana (Endowment/Whole Life Insurance Plan) is From Rs 1,00,000.
What bonus rate does Sukhamaya bima yojana (Endowment/Whole Life Insurance Plan) earn?
For FY 2081/82, Sanima Reliance Life Insurance declared Rs 19–75 / 1,000 of sum assured on Sukhamaya bima yojana (Endowment/Whole Life Insurance Plan). Bonus rates are set each year and are not guaranteed.
What is paid if the insured passes away during the term?
Sum Assured + Declared & Vested Bonus (during premium paying term); Sum Assured (post premium term)
What is paid when Sukhamaya bima yojana (Endowment/Whole Life Insurance Plan) matures?
On survival to end of premium paying term: Sum Assured + Declared & Vested Bonus and fully paid-up whole life assurance
Which riders can be added to Sukhamaya bima yojana (Endowment/Whole Life Insurance Plan)?
Sukhamaya bima yojana (Endowment/Whole Life Insurance Plan) can be taken with the following optional riders: Accidental death (ADB), PTD / PWB, Critical illness (CI). Each rider carries its own premium.
Premium
Quote on request