May 05, Kathmandu - Asian Life has launched the ‘Asian Jeevan Mangal (Term) Life Insurance Plan’ targeting customers seeking high financial security along with savings.

The company, which launched the plan at a program organized at its head office on Tuesday, said that after the completion of the insurance period, annual income facility, premium waiver and funeral expenses facility along with sum assured and bonus are included in the basic insurance. The company says that the insured will not have to pay additional premium for these facilities.

The plan provides for a waiver of premium for the remaining period in case of permanent disfigurement due to an accident during the insurance period, and an annual income of 10 percent of the sum assured will be paid on each anniversary for livelihood. After the insurance period, the insured will receive the sum assured and accumulated bonus in a lump sum.

Similarly, there is a facility to include accidental death benefit by paying additional premium. The company has stated that people in the age group of 18 to 60 years can insure for a minimum period of 5 to 15 years from Rs. 50,000.