Nigheban Plan by Single Premium (Table-25)
Nigheban Plan by Single Premium (Table-25)
Why State Life
State Life offers complete satisfaction to our valued policyholders from issuance of policy, providing after sales service and optimizing return on Life Fund through a quality culture and to maintain ourselves leading life insurer in Pakistan. The sum assured and declared bonuses payable on maturity or death (God Forbid) are guaranteed by the Government of Pakistan.
What is Nigehban Plan by Single Premium (Table 25)?
As the name suggests this plan is meant to provide protection during the term of the policy i.e.; sum assured is payable on death if it occurs during the term insurance while the policy is in force. The plan does not carry any survival benefits, maturity benefits, surrender values, loan values etc. The policy will be without profits.
Why Buy and what needs does this fulfill?
- To ensure that your immediate family has some financial support in the event of your demise
- To finance your children’s education and other needs
The benefits under the plan can be further increased by attaching supplementary contract.
State Life Plans and Features
Plans & Features
| Plan Features | Description |
| Plan Type | Term Insurance Plan |
| Minimum/Maximum Age at Entry | 20-60 Years |
| Minimum/Maximum term | 5-10 Years, Max maturity age = 70 |
| Bonus participation | Term Insurance Plan |
| Where are the funds invested | Term Insurance Plan |
| Death Benefit | Basic Sum Assured payable on death (God forbid) of the life assured under this plan |
| Surrender/ Early Withdrawal | No Surrender Value |
| Loan Facility | No Loan Value |
| Free-Look Period | The policy can be cancelled at the option of the policyholder within (14) fourteen days of its commencement date. |
| Grace period: | Policyholders can pay the premium to state life within a grace period of 31 days after it falls due. |
| Underwriting Requirements | Normal Non-Medical Scheme and Underwriting requirements will be applicable as per standard practice of State Life. |
| Add-Ons | Description |
| Accidental Death Benefit (ADB) | If this supplementary contract is availed, then on his/her accidental death (God forbid) during the term of policy, an amount equal to basic sum assured becomes payable. |
| Term Insurance Rider (TIR) | If this supplementary contract is availed, then on his/her death (God forbid) during the term of contract, an amount equal to basic sum assured becomes payable. |
| Accidental Indemnity Benefit (AIB) | If this supplementary contract is availed, then on his/her accidental death (God forbid) during the term of policy, an amount equal to basic sum assured becomes payable. Proportionate amount of sum assured is payable in the event of loss of two or more limbs or loss of sight in both eyes. For other injuries, weekly indemnities for total or partial disability are paid. Thereafter, an annuity will be payable upto maximum of 10 years. |