Joint Life Endowment
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. One policy covers both partners, instead of buying two separate ones. An endowment plan for married couples providing joint cover for two lives. Offers death benefit, maturity benefit with declared bonuses and optional riders are availiable.
Declared bonus
Rate by policy term
Declared FY 2081/82
| Policy term | Rate / 1,000 | Prev. year |
|---|---|---|
| 15-19 | Rs 20 | Rs 20 |
| 20-24 | Rs 25 | Rs 25 |
| 25 and above | Rs 30 | Rs 30 |
Recent years
- FY 2081/82
- Rs 20–30/ 1,000
- FY 2080/81
- Rs 20–30/ 1,000
- FY 2079/80
- Rs 20–30/ 1,000
- FY 2078/79
- Rs 45–60/ 1,000
- FY 2077/78
- Rs 20–30/ 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
- Minimum Sum Assured: NPR 50,000
- Policy term: 15–30 years
- Maximum maturity age: 70 years
Features
- Joint cover for two lives
- Maturity benefit: Sum Assured + declared bonus
- Optional riders: ADB, PTD, Premium Waiver, Critical Illness
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 either partner passes away during the term
This plan states: Sum Assured
If the policy runs to maturity
This plan states: Sum Assured + Bonus Declared and Vested
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 couple plans — confirm the exact terms in the brochure.
Optional riders
Accidental Death Benefit (ADB)
Additional sum equal to Sum Assured or NPR 10,000,000 whichever is lower on accidental death of either life (subject to conditions).
Permanent Total Disability (PTD)
On PTD of either life: Sum Assured or NPR 10,000,000 payable in up to 120 monthly installments (subject to conditions).
Premium Waiver Benefit (PWB)
Future premiums waived on death or PTD of either of the lives assured.
Critical Illness (CI)
On diagnosis of covered critical illness: Additional amount equal to Sum Assured or NPR 5,000,000 whichever is lower.
What's not covered
- Suicide as per standard waiting period
- War, invasion, nuclear risks and similar perils
- Claims arising from illegal acts or intoxication
- Pre-existing conditions not disclosed
Questions about this plan
What kind of plan is Joint Life Endowment?
Joint Life Endowment from Sanima Reliance Life Insurance is a couple plan that covers both spouses under one policy, usually for less than two separate policies would cost.
Who can buy Joint Life Endowment?
The entry age for Joint Life Endowment is 21 – 50 years.
How long does Joint Life Endowment run?
The policy term for Joint Life Endowment is 15 – 30 years.
How much cover can I take on Joint Life Endowment?
The sum assured available on Joint Life Endowment is From Rs 50,000.
What bonus rate does Joint Life Endowment earn?
For FY 2081/82, Sanima Reliance Life Insurance declared Rs 19–75 / 1,000 of sum assured on Joint Life Endowment. Bonus rates are set each year and are not guaranteed.
What is paid if the insured passes away during the term?
Sum Assured
What is paid when Joint Life Endowment matures?
Sum Assured + Bonus Declared and Vested
Which riders can be added to Joint Life Endowment?
Joint Life Endowment 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