“Mahalaxmi Sawadhik-Aajeevan Beema” is a unique plan that combines features of both Endowment as well as Whole Life Insurance Plan. This plan has features of saving as well as risk coverage during the term of the policy and it pays back a lump sum amount of sum assured and bonus declared and vested in the policy after completion of the policy term (i.e. upon maturity) or upon death of the insured person. Further, the policy remains in force for the Basic Sum Assured till completion of 84 years of the insured.
Name of the plan
Mahalaxmi Sawadhik-Aajeevan Beema
Age at Entry
18 yrs to 65 yrs
Minimum Age at Maturity
Minimum Sum Assured
Maximum Sum Assured
Rs. 250,000,000 (at interval of Rs. 10,000)
Accidental Death Benefit(ADB), Permanent Total Disability Benefit (PTD) and Premium Waiver Benefit (PWB) is available for full policy term, equal to sum assured but not more than Rs. 1,00,00,000 upon payment of additional premium.
Participating Endowment cum Whole Life Plan
5 yrs to 30 yrs
Maximum Age at Maturity
Mode of Payment
Single, Yearly, Half-Yearly, Quarterly or Monthly
Benefits under this policy
Full sum assured and accrued bonus is payable on maturity if the policy remains in force and the insured survives till maturity date. In addition, the insured will again receive sum assured if he/she survives till completion of 84 years of age.
Full sum assured and accrued bonus is payable to the nominee upon death of insured within the policy term provided that the policy is in force. Further, full sum assured will be paid to the nominee if the insured surviving till policy maturity unfortunately dies before completion of 84 years of age.
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. Loan and surrender value can be provided to the policyholder even after maturity of the policy till his/her completing 84 years of age, provided that the policy remains in-force till the end of the policy term.