FAQs

Jeevan Surakshya Bachat Khata


This plan covers all new NPR saving accountholders who are natural person with good health and age 16 years completed and not reached 59 years, who maintain minimum daily balance of Rs. XX,000 in whole month, who signs “Health Declaration”<Click Link>. The critical illness coverage for eligible saving accountholders commences only after the Waiting Period of 60 days from the effective date of individual coverage commencement.

All eligible new saving deposit account holders - after the Policy is in effect – can enroll himself or herself into this insurance scheme commencing the coverage from the first day of the following month (Bikram Sambat) of account opening month subject to meeting above criteria or requirements.

Please contact or visit our branch offices for detail of this scheme.

Critical Illness coverage shall not be effective for the first 60 days from the effective date of individual coverage commencement. However, such waiting period does not apply to Accidental Death, Dismemberment, Permanent Total Disability and Term Life.

  1. This covered Critical Illnesses under this plan are :- Major Cancers, Strokes, First Heart Attack, Serious Coronary Artery Disease, Heart Valve Surgery, Primary Pulmonary Hypertension. (Coverage amount equal to Rs. 100,000)

    The covered Critical Illnesses under this plan are listed and defined in the Policy "Definition of Critical Illness".
  2. Accidental Death, Dismemberment & Permanent Total Disability (AD, D, & PTD) (Coverage amount equal to Rs. 100,000)
  3. Term Life (Coverage amount equal to Rs. 50,000)

Pre-existing medical conditions related to critical illnesses are excluded in addition to other exclusions stated in the policy. For detail of the insurance coverage and exclusions, please refer to "Summary of Coverage"

Yes. The coverage under this scheme provides 24 hours a day and 365 days a year Worldwide protection.

No bills are required. Only diagnosis document and physician statement are required for claim. It’s simple. Claim payment is lump sum 100% of insured amount for Critical Illness treatment.

No. Eligible Account holder should not pay any cost.The Bank itself will pay the premium for insurance coverage on behalf of eligible Account holders.

No. Joint account holders are not eligible for the Insurance coverage.

No. Family members are not eligible. The family members who are eligible as mentioned above (1) can participate under this scheme opening separate new saving account on their names.

Critical Illness coverage is for only one time in insured’s life.

Yes. Term Life will continue for one year only from the date of his or her individual coverage effective date.

In case of death of insured account holder, the insured amount under Term Life shall be paid in lump-sum to insured’s legal heir.

The valid claims per the Critical Illness definition mentioned in Policy "Definition of Critical Illness". Shall be paid if the claimant provides all documents with proof of diagnosis to the Insurance Company within one (1) year from the date of diagnosis of Critical Illness or loss of life.

Critical Illness Claim is paid if the Insured account holder is diagnosed to be suffering from a critical illness listed and defined in Policy "Definition of Critical Illness", while insured is still living at the time of diagnosis, such Illness diagnosis is not within the waiting period and is not Pre-existing condition. In case of death of such insured after the diagnosis, the insured amount under Term Life shall also be paid in lump-sum to insured’s beneficiary or legal heir.

Claim process is mentioned in "Claim Requirements", Claim Form Death, Claim Form CI, Disability, Physician Statement CI, Disability Please contact our branch office for assistance.

The claim process and list of required documents for claim is mentioned in "Claim Requirement -HBL". Please contact our branch office for assistance.

Claim payment in normal course, except exceptions will be 10 - 15 working days for valid Death and Critical Illness claims from the date of complete claim documents receipt from the claimant.

The Death claim amount is not taxable, however as per the Nepal Income Tax Act, the TDS tax 5% is applicable on Critical illness claim amount currently and such tax rate is subject to change as per amendments of such act by Nepal Government.