Baibhav Jeevan Beema Money Back Plan
by Prabhu Mahalaxmi Life Insurance
In simple terms: you pay a fixed amount each year, and at the end of the term you get your cover amount back together with the bonus the insurer adds along the way. You also receive part of the cover amount at set points during the term, not only at the end. Baibhav Jeevan Beema Money Back Plan from Prabhu Mahalaxmi Insurance — a traditional participating money-back life insurance offering periodic survival payments, death benefit and maturity benefit.
Maturity estimator
Estimated value at maturity
—
Declared bonus
Rate by policy term
Declared FY 2081/82
| Policy term | Rate / 1,000 | Prev. year |
|---|---|---|
| 0-9 | Rs 35 | Rs 33 |
| 10-14 | Rs 35 | Rs 33 |
| 15-19 | Rs 40 | Rs 40 |
| 20-24 | Rs 51 | Rs 51 |
Recent years
- FY 2081/82
- Rs 35–51/ 1,000
- FY 2080/81
- Rs 33–70/ 1,000
- FY 2079/80
- Rs 35–51/ 1,000
- FY 2078/79
- Rs 35–51/ 1,000
- FY 2077/78
- Rs 35–51/ 1,000
Source: Prabhu Mahalaxmi Life Insurance declaration for FY 2081/82
Bonus rates are declared annually and are not guaranteed. Past rates do not guarantee future rates.
What's included
Key highlights
- Periodic money-back payouts
- Participating (bonus) plan
- Both death and maturity benefits
Features
- Periodic money-back (survival) payouts
- Death benefit for nominee
- Maturity benefit at end of term
- Policy loan facility against surrender value
- Potential tax benefits as per local laws
- Optional riders (accidental death, critical illness, waiver)
Terms and conditions
- 1)Death Benefit: Full Sum Assured and vested bonus is paid without deducting the money back that have already been paid out if any.
- 2)Survival benefits: Benefit as a % of Sum assured on survival to subject to the in-forcement of the policy
- 3)Surrender Value and Loan: The policy is eligible for loan or surrender upon payment of premiums for 3 full years and completion of 3 years. The paid-up calculation for calculating surrender value is done as per the approved method prescribed by Beema Pradhikaran. Loan up to 90% of the surrender value can be availed.
What happens in each case
Each plan pays out differently depending on what happens during the term. These are the situations that matter for this kind of plan.
If the insured passes away during the term
The nominee receives the sum assured plus the bonus built up to that date. Instalments already paid out along the way are not deducted from this amount.
Typical for money-back plans — confirm the exact terms in the brochure.
Along the way, while the policy is in force
A set share of the sum assured is paid at fixed points during the term. The schedule on this page shows when each instalment falls due.
Typical for money-back plans — confirm the exact terms in the brochure.
If the policy runs to maturity
You receive the balance of the sum assured plus the bonus built up to that date — the part not already paid as instalments.
Typical for money-back plans — confirm the exact terms in the brochure.
If death is caused by an accident
With the accidental death rider, an additional amount is paid on top of the sum assured. The rider is optional and carries its own premium.
Typical for money-back plans — confirm the exact terms in the brochure.
Optional riders
Accidental Death Benefit (ADB)
Additional accidental death benefit according to rider terms.
Critical Illness Benefit (CI)
Critical illness benefit for covered illnesses according to rider conditions.
Loan & liquidity
- Policy loan
- Available
- Loan facility
- Up to 90% of surrender value
Questions about this plan
What kind of plan is Baibhav Jeevan Beema Money Back Plan?
Baibhav Jeevan Beema Money Back Plan from Prabhu Mahalaxmi Life Insurance is a money-back plan that releases part of the sum assured at set points during the term instead of only at the end.
Who can buy Baibhav Jeevan Beema Money Back Plan?
The entry age for Baibhav Jeevan Beema Money Back Plan is 18 – 58 years.
How long does Baibhav Jeevan Beema Money Back Plan run?
The policy term for Baibhav Jeevan Beema Money Back Plan is 12, 15, 18, 21, 24 Yrs.
How much cover can I take on Baibhav Jeevan Beema Money Back Plan?
The sum assured available on Baibhav Jeevan Beema Money Back Plan is From Rs 50,000.
What bonus rate does Baibhav Jeevan Beema Money Back Plan earn?
For FY 2081/82, Prabhu Mahalaxmi Life Insurance declared Rs 35–51 / 1,000 of sum assured on Baibhav Jeevan Beema Money Back Plan. Bonus rates are set each year and are not guaranteed.
Which riders can be added to Baibhav Jeevan Beema Money Back Plan?
Baibhav Jeevan Beema Money Back Plan can be taken with the following optional riders: Accidental death (ADB), Critical illness (CI). Each rider carries its own premium.
Premium
Quote on request