Mahalaxmi Dhandhanya Beema
“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, Simple Reversionary Bonus
Maximum Age at Maturity
70 years nearest birthday
Minimum Sum Assured
Rs. 50,000 (Fifty thousand)
ADB, TPD, PWB and CI
Premium Payment Term
Equal to Policy Term
- 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
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
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