Kathmandu: Reliance Life Insurance has introduced money back plan ‘Barsik Dhan Barsa’. Under this insurance plan, the insured has the facility to receive an annual money back of 5 percent of the sum assured every year.
The company has introduced this life insurance plan for a period of 15 and 20 years only. The company has informed that the money-back will be paid at the rate of 5 per cent of SA every year after the completion of first one year from the date of policy commencement. For the 15-year term plan, after the maturity period, remaining portion of annual money back plus vested bonus will be payable.
Similarly, in addition to the money back and vested bonus additional 10 percent of SA will be payable at maturity for 20 years’ plan.
Reliance Life Insurance has informed that in case of death of the insured within the policy term, the sum assured and vested bonus will be paid to the nominee.
The minimum SA is NPR 1 lakh and entry age is 18 to 55 years. In this insurance plan, the insured has the option to include additional benefits like accidental death benefits , permanent disability benefits, insurance premium waiver benefits.
