Contact Number +977-1 4445740 | 4445741 | 4445742 Contact Email info@mahalaxmilife.com Location Kamalpokhari, Kathmandu
S.NoServices provided by the CompanyFee
Required Documents
Procedures
Service Time
Authorized 1stContact Official
Authorized 2nd Contact Official
Authorized 3rd Contact Official
1Providing Information related to Life Insurance
FreeN.AInformation from Authorized agent of company or from the nearest office of the company
Immediately
Marketing representative and authorized agents of Company
Branch Manager / Sub branch In charge
Regional Manager
2Policy Issue





Premium amount approved by Insurance Board calculate based on the age / term / occupation etc. of assured.









Completely filled following documents:
1.   Proposal form
2.   Personal Health Declaration Form
3.   Agent Report
4.   Medical Report
5.   Receipt of amount paid for Medical Examination
6.   KYC (Know Your Customer)
7.   Copy of Citizenship Certificate and/or Birth Registration Certificate
8.   1/1 piece of photograph of proposer/assured
9.  Other required documents.
Contact nearest Branch or Sub Branch office of the company









Immediately
(within 1 hour after submission of all required documents)








Sub Branch Manager / Operation Incharge









Branch Manager









Regional Manager









3Policy Endorsement
Free

1.    Application of assured
2.    Original policy bond
3.    Other Related documents.
Contact nearest office of the company with required documents.
1 DaySub-Branch Incharge/ Operation Incharge


Branch Manager


Head Underwriter


4Revival of lapsed policy
Free (medical fee to be borne by policyholder self if medical required)


1.  Application of assured
2.  Personal Health Declaration Form
 3.   Medical Report
Contact nearest office of the company with required documents.


Maximum 1 Day


Sub Branch Incharge / Branch Operation Incharge


Branch Manager / Regional Manager


Head Underwriter


5Policy loan against policy bond.



Postal ticket as per government rule.  Rs 2 per thousand  + 1. For eg. if the loan is Rs 10,000.00 postal ticket = 10x2+1 =21
1.  Application of assured
2.  Original Policy Bond.
3.  Last premium paid receipt.
4.  Copy of citizenship certificate.
Contact nearest office of the company with required documents.



1 Day



Operation Incharge



Branch Manager



Head Underwriter



6Duplicate policy if lost or destroyed.


1.    Rs 200
2.    Actual expense for notice in newspaper.
1.    Application of assured
2.   Original of 35 days’ notice.
3.   Deposit Bank voucher of Rs200 deposited in Company’s Account.
Contact nearest office of the company with required documents.


Maximum 5 days after the 35 days’ notice period.


Operation Incharge / Branch Manager


Underwriting Officers at Head Office
Head Underwriter


7Death Claim payment









Free









1.  Intimation letter from the nominee or the claimant of the policy holder (Note: the intimation should include date / time / place and cause of death.)
2.  Original Policy Bond
3.  Last premium paid receipt.
4.  Details of claimant
5.  Copy of citizenship or passport of claimant
 6.   Death Registration Certificate
 7.   Relationship proof certificate.
 8.   Postmortem report or police report with accident site and dead body position. (if the death is accidental)
 9.   Documents of medical treatment (if death is in course of treatment)
10. Other documents asked by company if additional information is required.
Maximum 7 days after submission of the complete documents.








Operation Incharge / Sub Branch Incharge/ Branch Manager








Branch Manager / Regional Manager



















Claim Head










8Payment of Survival Benefit
Free


1.   Application of assured
2.   Copy of Citizenship Certificate
Bank Account No. of policyholder
Contact nearest office of the company with required documents.


1 Day


Operation Incharge / Sub Branch Incharge / Branch Manager


Branch Manager / Regional Manager


Claim Head


9Maturity Claim Payment.
Free



1.  Application of assured
2.  Original Policy bond
3.   Last premium paid receipt.
Copy of citizenship Certificate.
Contact nearest office of the company with required documents.



1 Day



Operation Incharge  / Sub Branch Incharge



Branch Manager / Regional Manager



Claim Head



10Surrender/Paid up Value payment




Free




1.   Application of assured
2.   Original Policy bond
3.   Last premium paid receipt.
4.   Copy of citizenship Certificate.
Contact nearest office of the company with required documents.




Maximum 3 Days.




Operation Incharge / Sub Branch Incharge / Branch Manager




Underwriting Officers at Head Office




Head Underwriter




11Agent Training and Appointment





1. Rs. 500 for Beema Samiti’s license
Training fee as decided by the company.




1.   Copy of Citizenship certificate.
2.   Copy of Character Certificate of SLC/SEE
3.   Copy of Mark sheet of SLC/SEE
4.    (All copy of documents must be notarized)
PP sized photograph 4.
Please contact the nearest office of this company with required documents




19 Hours’ training





Sub Branch Incharge / Branch Manager





Regional Manager





Head Marketing





12Supporting to renew the Agent license





As per the Insurance Act and Regulation





1.    Application of assured
2.    Agent License
For reapply:
1.    Copy of Nepali citizenship certificate
2.   Copy of certificate of training taken.
3.  PP Sized photo 4 pieces.
Please contact the nearest office of this company with required documents
As per the Insurance Act and Regulation





Sub Branch Incharge / Branch Manager





Regional Manager





Agency Service Department





13Various Information regarding Company
Free
N.A.
Head Office of the Company /website of the company
Immediately
Information Officer