Mahalaxmi Dhandhanya Beema

02 Mar 21

“Mahalaxmi Dhandhanya Beema” is a with-profit (participating) Anticipated Endowment Policy. The policy provides Sum Assured plus vested bonus on death of the life assured during the policy term, a fixed percentage of Sum assured as survival benefit in form structured payments, and a maturity benefit on survival of the policyholder till the end of the policy term. This product shares the profits of the company during the policy term if surplus arises after actuarial valuation, by allocation in the form of simple reversionary bonus. The product offers two policy terms: 15 years and 20 years.

Name of the plan

Mahalaxmi Dhandhanya Beema

Participating/Non-Participating

Participating, Simple Reversionary Bonus

Maximum Age at Maturity

70 years nearest birthday

Minimum Sum Assured

Rs. 50,000 (Fifty thousand)

Rider Available

ADB, TPD, PWB and CI

Premium Payment Term

Equal to Policy Term

Policy Benefits

On Death
In Case of assured’s death during the policy term, following benefit will be payable 100% Sum Assured + Vested Bonus declared and vested till the time of death
Moneyback
Subject to survival of the assured and policy being in force, two payments of 20% of Sum Assured will be made to the life assured at the interval of 5 years as illustrated below. The Survival Benefit (Money-back) payment shall be made only after receiving the due premiums.
Policy Year / Term 15 yrs 20 yrs
5   20% –
10   20% 20%
15   – 20%
On maturity
On survival of the assured till Maturity, following benefits will be paid: 60% of Sum Assured (i.e. 100% Sum Assured – Total Moneyback payments made) + Vested Bonus will be paid
Surrender Value
The surrender value will be payable on surrender, as prescribed by Beema Samiti, subject to premium having been paid at least for 3 years.

Benefits (Paid UP)
If Premium payment ceases after at least 2 years, a paid-up value is secured payable on death/ maturity

09 December 2022

Endowment Plan