The Surakshit Bal Bhavishya Yojana plan is designed to secure the future of children. This plan provides financial protection and support, ensuring children are taken care of even if something happens to their parents or guardians. This plan is helpful for families who want to ensure their children’s education, securing their child’s future needs with peace of mind.
Death of Child Before Risk Commencement Date: All the premiums paid up to the date of death will be paid to the proposer (Excluding Any Rider Premium). The policy terminates after the payment of death benefit. Death of Child After Risk Commencement Date: The higher of 25% of the Sum Assured or Premiums paid up to the date of death (Excluding Rider Premium) if any plus accrued guaranteed additions will be paid to the proposer. The policy terminates after the payment of death benefit. Death of Proposer During the Policy Term: During the policy term if the proposer dies and child (life assured) is alive then the following benefits shall be payable.
Death of child (life assured) after death of proposer during the policy term: During the policy term if the child (life assured) dies after the proposer death then benefits illustrated under (i) or (ii) depending on Risk Commencement Date will be payable to the nominee. Both child (life assured) and proposer dies simultaneously:
Benefits on child as stated under (i) or (ii) depending of Risk Commencement Date.
On the survival of child to the end of the policy term, Sum assured plus accrued guaranteed additions will be payable. The policy terminates upon payment of maturity benefits.
The policy can be surrendered after paying & completing 3 full years premiums. The surrender value will be calculated as per Nepal Beema Pradhikaran guidelines.
*Policyholder can avail up to 90% of Surrender Value as policy loan on interest as per decided by company
