Mahalaxmi Life Unveils New Child Plan

Kathmandu: Mahalakshmi Life Insurance Company has unveiled a new insurance plan for children.The company has introduced ‘Mahalakshmi Child Savings Insurance Scheme’.

Every parents want to make their child’s dream come true from today’s savings for a bright future. Keeping the same belief in mind, Mahalakshmi has brought this insurance plan.

Chairman of the insurance company Manoranjan Raman Sharma has inaugurated this insurance plan. The insurance plan also includes savings, return on savings and risk-taking facility for the child, the company said.

This insurance plan can be taken from 1 month of age until the child reaches 18 years of age, while the choice of insurance period can be made for 5 to 25 years after the child reaches 18 years of age and until the age of 35 years. Also, after the child becomes an adult, the authority of the insurance policy will be fully transferred to him/her.

Under this plan, sum assured and vested bonus will be provided for the future of the child at the end of the insurance term. In case of death of the insured due to any reason, 25 per cent sum assured will be paid immediately and the remaining 75 per cent sum assured along with earned bonus and interest will be provided after the maturity period. The company has brought this policy as per the ‘Life Insurance Policy Directives 2021’ issued by the Insurance Board.

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