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Life Insurance Corporation (Nepal) (LIC):

MBL facilitates three best products of LIC i.e. Jeevan Ananda Life Insurance Plan (Whole Life Endowment), Jeevan Taranga Life Insurance Plan (Pension Plan), Child Endowment Plan. The features of these product are described below:

A. Jeevan Ananda Life Insurance Plan (Whole Life Endowment)

This plan is a combination of endowment with profit plan and deferred whole life without profit plan. It provides the pre-decided sum assured along with vested bonuses at the end of the premium paying term, but the risk cover on the life continues till death of the Life assured.

"Jeevan Rahada Pani, Jeevan Prashyat Pani"

Age 16 to 65 Years
Term 5 to 25 Years
Mode of Payment Quarterly/Semi Annually/Annually
Minimum Term 5 Years
Maximum Term 25 Years
Minimum Sum Assured NRs. 100,000 (policies will be issued in multiples of NRs. 10,000)
Maximum Sum Assured No Limitations

B. Jeevan Taranga Life Insurance Plan -Pension Plan

This plan provides annual survival benefits at 5% of the sum assured every year after the chosen accumulation period. The vested bonuses in a lump-sum are payable on survival to the end of the accumulation period or on death, if earlier. Further the sum assured is payable on survival to age 100 years or on death, if earlier. Policy loans and surrender value are available under this plan.

Age 15 to 60 Years
Term 10, 15 and 20 Years
Mode of Payment Quarterly/Semi Annually/Annually
Minimum Sum Assured NRs. 100,000
Maximum Sum Assured No Limitations

C. Child Endowment Plan

Child Endowment Plan is an insurance policy with profits endowment assurance plan available for children of 10 years or less. Sum assured plus vested bonus is payable on survival to the end of the term. In case of the death of the life assured before the commencement of risk, the policy shall stand cancelled and premiums paid (excluding the premiums for PWB) till death, under the policy will be refunded in full.

"Comparatively less premium"

Coverage Both for child & guardian
Age of child 0-10 Years
Term till the age of 20 years of child
(E.g. For 0 years-20 years term, 2 years-18 years term, 5 years-15 years term). The term can be done for 45 years of age of child.
Mode of Payment Quarterly/Semi Annually/Annually
Minimum Term 15 Years
Maximum Term 35 Years
Minimum Sum Assured NRs. 50,000
Maximum Sum Assured NRs. 1,00,00,000 (policies will be issued in multiples of NRs. 5000)

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