Contact Number +977-1 4445740 / 4445741/ 4445742 Contact Email info@mahalaxmilife.com Location Kamalpokhari, Kathmandu
“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

    18 yrs
  • Minimum Sum Assured

    Rs. 50000
  • Maximum Sum Assured

    Rs. 250000000 (at interval of Rs. 10000)
  • Supplementary Benefits

    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.
  • Policy Type

    Participating Endowment cum Whole Life Plan
  • Policy Term

    5 yrs to 30 yrs
  • Maximum Age at Maturity

    70 yrs
  • 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.
    • The policy will gain paid-up value or surrender value upon payment of premiums for 2 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 2 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.

First Policy Issued Date: 17th August 2019