Decreasing Term Assurance (DTA)

This Plan is specially designed to fulfill the Bank's requirements against various types of loans i.e mortgage, personal, auto loans (cars) etc.

The major benefit is, in case of death, bnl will pay the loan outstanding amount to the Bank on your behalf. Besides, the Bank will not go back to your Family to claim the outstanding amount.

Other Features:
  • Premium can be paid annually or as a single payment.
  • The sum assured is linked to the Bank loans outstanding balance which ensures the cover is matched properly.
  • Joint life cover is possible.
  • A conversion option is available, meaning that you have the option to have this temporary insurance converted into a permanent life plan which is investment linked and will accumulate cash values.
  • T – 3 discount for Policies with a duration of more than 5 years. This means the last 3 years of cover are free.
  • Non-smoker rates are available.
 
DOCUMENTARY EVIDENCE REQUIRED TO PROCEED
WITH APPLICATION