Kathmandu. Prime Life Insurance Company has launched a new insurance product on the occasion of its 13th anniversary. The company has launched ‘Prime Subh Labh’ insurance plan with minimum guaranteed bonus.
Bonus upto Rs.60 per thousand is guaranteed for regular premium payment and Rs.40 per thousand is guaranteed for single premium payment option.
The he premium payment options available with this plans are single payment and regular(annual and semi-annual) payment. The insured can even get a loan after paying a regular 2 years premium.
Nepali citizens in the age group of minimum 18 years to maximum 60 years can purchase this policy. The maximum insurance termination age is 75 years. This policy can be taken for a minimum of 12 years and maximum 15 years.
The claim is payable In case of natural death, accidental death. permanent disability or maturity of insurance, The company has stated that additional benefits will be available in case of death due to accident or permanent disability due to accident.
Condition for payment of sum assured
If the insured survives till maturity, subject to the terms of the policy, the sum assured plus guaranteed bonus and additional bonus amount will be paid in lump sum.
The company has already guaranteed the annual bonus. The company has ensured a bonus rate of Rs 60 per thousand if regular annual and half-yearly insurance premiums are paid. Similarly, Rs. 40 per thousand has been ensured for single premium payment option.
In case of additional bonus amount, the insured will pay an additional amount equal to 25 percent of the original sum insured in case of 12 years of insurance only if the policy is inforce till the insurance term and the policy is mature.
Similarly, the company has announced that an additional amount equal to 30 percent of the Sum Assured will be payable for the 15 years term.