Group Endowment Assurance Policy
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. Group Endowment Assurance policy for affinity or employer groups. Provides Sum Assured plus declared and vested bonus on death and on maturity. Optional riders are available.
Declared bonus
Rate by policy term
Declared FY 2081/82
| Policy term | Rate / 1,000 | Prev. year |
|---|---|---|
| 0-9 | Rs 20 | Rs 19 |
| 10-14 | Rs 20 | Rs 19 |
| 15-19 | Rs 20 | Rs 19 |
| 20-24 | Rs 20 | Rs 19 |
| 25 and above | Rs 20 | Rs 19 |
Recent years
- FY 2081/82
- Rs 20/ 1,000
- FY 2080/81
- Rs 19/ 1,000
- FY 2079/80
- Rs 19/ 1,000
- FY 2078/79
- Rs 45–60/ 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
- Min Sum Assured: NPR 100,000
- Minimum group size: 10
- Maximum maturity age: 65 years
- Riders: ADB, PTD, PWB
Features
- Death benefit: Sum Assured + declared & vested bonus
- Maturity benefit: Sum Assured + declared & vested bonus
- Optional riders
- Group-size and sum-assured rebates available
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 and vested bonus
If the policy runs to maturity
This plan states: Sum Assured + declared and vested bonus
If death is caused by an accident
This plan states: Additional amount equal to Sum Assured or NPR 10,000,000 whichever is lower
Optional riders
Accidental Death Benefit (ADB)
Additional benefit equal to Sum Assured or NPR 10,000,000 whichever is lower.
Permanent Total Disability (PTD)
Sum Assured or NPR 10,000,000 whichever is lower payable in 120 monthly instalments; if remaining term <120 months, balance paid in lump sum on maturity or earlier death.
Premium Waiver Benefit (PWB)
Waiver of future premiums after PTD due to accident.
Questions about this plan
What kind of plan is Group Endowment Assurance Policy?
Group Endowment Assurance Policy from Sanima Reliance Life Insurance is an endowment plan that pairs savings with life cover for a single adult, and suits people who want a guaranteed amount on a fixed future date.
Who can buy Group Endowment Assurance Policy?
The entry age for Group Endowment Assurance Policy is 18 – 60 years.
How long does Group Endowment Assurance Policy run?
The policy term for Group Endowment Assurance Policy is 5 – 42 years.
How much cover can I take on Group Endowment Assurance Policy?
The sum assured available on Group Endowment Assurance Policy is From Rs 1,00,000.
What bonus rate does Group Endowment Assurance Policy earn?
For FY 2081/82, Sanima Reliance Life Insurance declared Rs 19–75 / 1,000 of sum assured on Group Endowment Assurance Policy. Bonus rates are set each year and are not guaranteed.
What is paid if the insured passes away during the term?
Sum Assured + declared and vested bonus
What is paid when Group Endowment Assurance Policy matures?
Sum Assured + declared and vested bonus
Which riders can be added to Group Endowment Assurance Policy?
Group Endowment Assurance Policy can be taken with the following optional riders: Accidental death (ADB), PTD / PWB. Each rider carries its own premium.
Premium
Quote on request