IME Life Insurance’s IME Sabal Jeevan Beema Yojana: A Limited Payment Endowment Plan
1st October 2026, Kathmandu
IME Life Insurance has detailed the structure and key coverage features of its IME Sabal Jeevan Beema Yojana (IME Limited Payment Endowment Plan).
IME Sabal Jeevan Beema Yojana
The plan allows policyholders to choose a premium payment term that is shorter than the total policy duration.
Key Parameters and Eligibility Criteria
- Minimum Basic Sum Assured: NPR 50,000.
- Maximum Basic Sum Assured: No upper limit, subject to medical and financial underwriting.
- Entry Age Range: Minimum 18 years to maximum 60 years.
- Policy Term Limits: Minimum 5 years to maximum 20 years.
- Maximum Maturity Age: 70 years.
Premium Payment Frequency: Flexible options including Yearly, Half-Yearly, Quarterly, Monthly, or Single Premium Payment.
Premium Paying Term Options: Policyholders selecting a 10, 15, or 20-year policy term can opt for Single, 2, 3, 4, or 5-year premium payment durations.
Primary Policy Benefits
Death Benefit: In the event of the insured person’s death during the policy term, the full Sum Assured along with all vested bonuses is payable to the designated nominee.
Maturity Benefit: Upon surviving the policy term to the maturity date, the policyholder receives the full Sum Assured plus total vested bonuses accrued.
Loan & Tax Incentives: Policyholders can access policy loan facilities once the policy acquires a surrender value, alongside tax benefits as per current regulatory framework.
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Optional Rider Benefits
Accidental Death Benefit: Pays an additional sum equal to the Rider Sum Assured in the event of accidental death before age 70.
Income Benefit: Provides monthly (1.0%, 1.5%, 2.0%, or 3.0%) or quarterly (3.0%, 4.5%, 6.0%, or 9.0%) payouts of the Rider Sum Assured until maturity following permanent total disability.
Lump-Sum Disability Benefit: Disburses a lump-sum payment equal to the Rider Sum Assured upon permanent total disability caused by sickness or accident.
Premium Waiver Benefit: Waives all future base policy premiums equal to the Rider Sum Assured upon permanent total disability.
Funeral Expenses: Disburses 25 percent of the Sum Assured or NPR 200,000, whichever is lower, immediately upon the death of the insured.
Critical Illness Rider: Pays a lump sum equal to the Rider Sum Assured upon diagnosis of any of the 21 specified critical illnesses, capped at NPR 5,000,000 or the Basic Sum Assured.
Regulatory and Product Registration Specifications
- NIA Product Code: NIA/LI010/2074/075/EP/0057.
- Approval and Launch Dates: Approved by Nepal Insurance Authority on October 18, 2017 (Kartik 1, 2074 BS), with first policy issuance commencing November 16, 2017.
- Dispute Resolution: Governed under the provisions of the Insurance Act 2079.
For More: IME Sabal Jeevan Beema Yojana
