Sun Nepal Life Launches Golden Child Endowment Assurance Policy: A Comprehensive Financial Safety Net for Children's Futures

Sun Nepal Life Insurance Company has announced the introduction of a new insurance plan designed to provide extensive benefits, ensuring the financial security of Proposers (Father/Mother) and their children. This innovative plan incorporates various features tailored to meet the needs of families, offering both immediate and long-term support.

Golden Child Endowment Assurance Policy:

The Golden Child Endowment Assurance Policy from Sun Nepal Life Insurance Company is a life insurance plan aimed at ensuring security for children along with the proposer. This policy is designed for those who wish to regularly pay premiums or make a one-time premium payment for peace of mind and financial freedom. One unique feature of this plan is that it provides coverage for both the child and a parent (Father/Mother) under a single policy.

Key Service Features of the Insurance Plan

1. Risk Start Period:For children, the risk coverage begins two years after the policy start date or after the child turns a certain age, depending on which event occurs later. For children aged 9 years and above, the risk coverage will start from the date the life insurance commences. For the proposer, the risk coverage begins immediately from the policy start date.
2. Lumpsum Death Benefit:If the proposer passes away at any time while the policy is active, the full sum assured will be provided as per the policy terms.
3. Monthly Income and Premium Waiver Benefits:If the proposer dies while the policy is active, the premium payments will be waived, and from that date onwards, the insured child will receive a monthly income benefit of up to 2% of the sum assured for the remainder of the policy term.
4. Death Benefit:
5. a) In Case of Proposer’s Death:If the proposer dies while the policy is in effect, the lumpsum death benefit will be paid out as the full sum assured. Following this, the remaining premiums will be waived, and the insured child will receive a monthly income benefit of 2% of the sum assured until the policy's end date.
6. b) In Case of the Insured Child’s Death:If the insured child passes away before the risk coverage starts, all paid premiums (excluding rider premiums) will be refunded, and the policy will be automatically cancelled. If the insured child dies after the risk coverage has started, 25% of the sum assured will be paid along with any accrued bonuses or the total premiums paid (whichever is higher), and the policy will be automatically cancelled.
7. c) In Case of Simultaneous Death:If both the insured child and the proposer die within the policy period, the beneficiary will receive the lumpsum death benefit of the full sum assured for the proposer’s death and 25% of the sum assured for the insured child’s death along with any accrued bonuses.
8. d) If the Insured Child Dies After the Proposer’s Death:If the insured child passes away after the proposer, the beneficiary will receive the lumpsum amount equivalent to 25% of the sum assured, any accrued bonuses, or the total premiums paid (whichever is higher), and the policy will be automatically cancelled.
9. Maturity Benefit:At the end of the policy term, if the insured child is alive, they will receive the full sum assured along with any bonuses accrued during the policy period.

Additional Benefits:

Accidental Death Benefit (ADB): For an additional premium, this optional benefit allows the insured to receive an accidental death benefit. If the proposer dies due to an accident while the policy is active, the insured will receive the accident death benefit amount (up to a maximum of Rs. 50 lakhs).

Critical Illness Benefit (CI): For an additional premium, this optional benefit covers treatment expenses for specific critical illnesses. If the proposer is diagnosed with any of the listed critical illnesses while the policy is active, they will receive up to Rs. 50 lakhs to cover treatment costs.

Conclusion

The Golden Child Endowment Assurance Policy from Sun Nepal Life Insurance Company not only ensures double security by protecting both the proposer and the child, but it also serves as a lifelong gift of financial freedom for your child. By securing their future today, you provide them with a reliable financial cushion that will support their higher education, marriage expenses, and even seed capital for starting their own business. With this policy, you're not just safeguarding their present, but also empowering them for a prosperous future—making it the best investment in your child’s journey toward success. Invest in their future today!