Contact Number +977-1 4545740 | 4545741 | 4545742 Contact Email Location Kamalpokhari, Kathmandu

“Mahalaxmi Bal Bachat Beema” is a participatory Endowment Plan targeted for children of age above 1 month and not exceeding 18 years. The plan aims to ensure saving with benefit along with security for children. The plan has special feature of waiver of premium amount at minimal rate in case of death of proposer to ensure better future of children.

  • Name of the plan

    Mahalaxmi Bal Bachat Beema
  • Age at Entry

    After completion of 1 month and not exceeding 18 years
  • Minimum Age at Maturity

    18 years
  • Risk Coverage Date

    2 years from the date of insurance or 18 years of insured whichever is earlier
  • Minimum Sum Assured

    Rs. 50,000 (Fifty thousand)
  • Payment Mode

    Yearly, Half-yearly, Quarterly, and Monthly
  • Benefits Under This Policy

    • Maturity Benefit:
      Full SA and accrued bonus for the whole policy term is payable on maturity if the policy remains in force and the insured survives till maturity date.
    • Death Benefit:
      –>If the insured dies before the risk coverage date, the premium amount paid till that date is only payable
      –>After risk coverage date, 25% of SA is payable immediately and the remaining 75% along with bonus till the date of death along with interest is payable upon maturity.
    • Paid-up value, Surrender Value and Loan:
      The policy will gain paid-up value or surrender value upon payment of premiums for 3 full years. The paid-up calculation is done as per the approved method prescribed by Beema Samiti. Loan up to 90 % of the surrender value can be availed. The policy can be surrendered during the policy term only after completion of 3 years.

First Policy Issued Date: 10th August 2021

  • Type of Insurance Plan

    Participatory Endowment Plan
  • Policy Term

    5 to 25 years
  • Maximum Age at Maturity

    35 years
  • Age of Proposer

    20 years to 60 years
  • Maximum Sum Assured

    Rs. 5,00,00,000 (Five crores at an interval of 10,000)
  • Grace Period

    30 days in case of Yearly, Half-yearly, and Quarterly mode and 15 days in case of Monthly mode