In order to earn a monthly premium from low income people and try to save them, Monthly savings plan has been formulated by NRB Global Life Insurance co. in line with the prevailing banking sector of the country. It is this plan which combines a small amount of cash savings with a onetime insurance payout at the end of a special period and also provide financial guarantee to the policy holder’s nominee on premature death. The age of the policy holders is from 18 to the maximum of 50 years at the beginning of the policy. The term of the policy is 10 years and 12 years.
1. The policy holder will receive full sum assured together with accrued bonuses on maturity at the end of the term.
2.The nominee of the policy holder will receive full sum assured on death within the term of the policy together with bonuses accrued up to the date of his/her death.
3. Supplementary Benefit:
# Double Sum assured will be provided for accidental death under accidental coverage that is double sum assured will be paid as compensation for the accidental death.
# Generally providing accidental disability and accidental collateral insurance for physical injury or death or disability due to accident, that is the insured nominee will be receive the full sum assured for death or physical injury due to accident or death.
4. It is a document based scheme and has a month ripe receipt in this plan.
5. This scheme has the facilities of depositing a premium monthly.
6. Life insurance facilities can be taken for a small amount of money.
7. It is easy to deposit premium money directly to the bank.
8. Having the benefit of onetime money at the end of the term, which brings back the financial stability of the end of life.