Mahalaxmi Sawadhik-Aajeevan Beema
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. 50,000
Maximum Sum Assured
Rs. 250,000,000 (at interval of Rs. 10,000)
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
- Maturity Benefit:
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. - Death Benefit:
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.
- Maturity Benefit:
First Policy Issued Date: 17th August 2019