Education Protection Plan

Criteria Description
Eligibility Minimum Age (proposed insured)- 1 Month; Maximum Age- 15 Years
Payer’s Age - Minimum 21 years - Maximum 55 years
Face Amount Minimum Amount- Rs. 50,000 Maximum Amount- Rs. 2 Million
Policy Term Minimum 10 years to Maximum 25 years. However, plan term plus the age of the child should not exceed 25 years.
Mode of Payment Annual, Semi- Annual, or Quarterly

Benefits Description
Dual Coverage The policy provides Insurance coverage for both Applicant and Child
Premium Waiver In case of death of Applicant, all future premiums are waived and policy will continue till maturity
Education fund In case of death of Applicant, 1% of insured amount will be deposited every month on child’s account till Maturity
Disability Protection Rider (DPR) With a relatively small additional premium, Applicant can add a Disability Protection Rider. In case Applicant becomes totally & permanently disabled due to sickness or accident during the policy term, the child will receive premium waiver and education fund benefits (1% of insured amount) till maturity
Maturity Benefit The Child* will receive Insured Amount Plus the Accrued Bonus at the end of policy term

*Child will be the owner of the Insurance Policy when he/she becomes major and maturity benefit will be paid accordingly.


Disclaimer:

Standard Chartered Bank Nepal Limited is a licensed Corporate Agent of MetLife (American Life Insurance Company) for life insurance products.

The insurance plans of MetLife are underwritten and issued by MetLife & claims will also be settled by MetLife as per the terms and conditions of the policy.

For more details or risk factors, terms and conditions, exclusions please read the terms and conditions carefully, before buying any products. Please refer policy document for exact terms and conditions and specific details applicable to the Insurance Policy. Standard Chartered Bank Nepal Limited does not accept any responsibility nor gives any warranty, express or implied, as to the accuracy, reliability and completeness of any statement made in or the omission of any provisions of the contract of Insurance and the Bank does not accept any liability for loss or damage of whatsoever nature, which may be attributable to your application, its receipt, payment of claims under it or the contract of Insurance. Your participation in this insurance product is purely on a voluntary basis. We advise you to take your own professional advice before you participate.

Insurance is the subject matter of solicitation.

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Speaking Up

Standard Chartered Bank (the “Bank”) is committed to maintaining a culture of the highest ethics and integrity, and in compliance with all applicable law, regulation and internal policy. As part of this commitment, the Bank has a ‘Speaking Up’ programme through which genuine concerns in this regard can be raised. Members of the public can securely raise Speaking Up concerns through this hyperlink, which is hosted on behalf of the Bank by a third party ‘InTouch’. Examples of concerns that can be raised through this website are concerns that relate to accounting, internal accounting controls or auditing matters and concerns relating to bribery or banking and financial crime. Concerns received will be forwarded to the Bank’s investigations team for review. Complaints relating to SCB banking services should not be raised through this site in the first instance, but through the SCB branch network, contact centres, Relationship Managers or the ‘Contact Us’ webpage.

Disclaimer

Please note that this hyperlink will bring to you to another website on the Internet, which is operated by InTouch, an independent company appointed by the Bank to support its Speaking Up programme. Please be mindful that when you click on the link and open a new window in your browser, you will be subject to the additional terms of use of the website that you are going to visit.

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