National Life Insurance Company Launches ‘Bal Amrit Endowment Policy-4’

Kathmandu – National Life Insurance Company Limited has introduced a new insurance policy, ‘Bal Amrit Endowment Policy-4’, aimed at providing maximum protection at a minimal premium. The company’s Chief Executive Officer, Suresh Prasad Khatri, unveiled the plan during a special ceremony held in Kathmandu on January 15.

This comprehensive insurance policy not only offers financial security to policyholders but also provides risk protection for proposers. The eligibility criteria for proposers require a minimum age of 20 years and a maximum age of 50 years, with the policy’s termination age capped at 70 years. To make premium payments flexible and convenient, the company has introduced four payment modes: annual, semi-annual, quarterly, and monthly.

In accordance with company regulations, insured individuals purchasing this policy will be required to undergo a mandatory health check-up. The policy also includes certain premium-related provisions, such as a three percent additional charge for those opting to pay semi-annually instead of annually. Additionally, discounts are available based on the sum assured. For example, policyholders insuring between Rs. 500,000 and Rs. 1,000,000 will receive a discount of Rs. 1 per thousand, with larger discounts offered for higher sums assured.

The policy comes with added benefits, including rider service facilities that can be availed for an additional premium. Furthermore, risk protection for policyholders begins two years after the policy is purchased. Upon maturity, the total premium and accrued bonus will be calculated and provided as a lump sum payment.