ENG
NEP“Guaranteed Return Endowment Plan”
The plan is a non-participating guaranteed return limited payment endowment assurance plan. The policy holders receives guaranteed sum of double the sum assured amount at the maturity of the policy.
Double Endowment Plan
BENEFITS
Death Benefit: In the event of unfortunate death of the life assured during the policy term, the Sum assured as per following or 110% of paid premium (excluding health, occupation extra & rider premium) which ever the higher will be paid to the nominee / beneficiary provided policy is in enforced.
Up to 5th Year 100% of Sum Assured 6th Year to 10th Year 150% of Sum Assured 11th Year onwards 200% of Sum Assured The policy will terminate on payment of the death benefit and nothing will be payable thereafter.
Maturity Benefit
Double of the Sum Assured will be paid at Maturity of policy provided policy is enforced till maturity.
Paid-up Value
Policy shall acquire the Paid-up value after paying at-least 2 years full premium. If the premium if discontinued after policy acquires Paid-up value, such paid-up value shall be paid on policy maturity date or death whichever occurs earlier.
Surrender Value
Policy can be surrendered any time after the policy acquiring Paid-up Value as per Beema Samiti guidelines.
Supplementary benefits
ADB and PTD (Accidental Death Benefit and Permanent Total Disability Benefit) and PWB(Premium Waiver Benefit) is available for full policy term, equal to sum assured but not more than Rs. 1,00,00,000 upon payment of additional premium.
ELIGIBILITY CRITERIA
Minimum Age at Entry: 18 years (Nearest Birthday)
Maximum Age at Entry: 55 years (Nearest Birthday)
Policy Term: Minimum 10 Years and Maximum 30
Years in the interval of 2 yearsPremium Paying Term: Half (i.e. 50%) of the policy term
Premium Payment Term: Yearly, Half-Yearly, Quarterly and Monthly
Minimum Sum Assured: Rs.50,000
Maximum Sum Assured: Rs. 5,00,00,000, (in intervals of 10,000)
First Policy Issued Date: 10th February 2019