Prabhu Mahalaxmi Life Announces New Bonus Rates Across Insurance Plans

Kathmandu – Prabhu Mahalaxmi Life Insurance Limited has officially announced the new bonus rates for its various insurance plans, following the approval of its actuarial valuation report by the Nepal Insurance Authority on Chaitra 27 (April 9). The new rates are based on the company’s financial statements and liability assessments for the previous fiscal year.

According to the company, policyholders under different plans will now receive revised bonuses per thousand rupees of insurance, depending on the type and term of the policy. For the standard ‘Term Insurance’ plan, the bonus will range from a minimum of Rs 33 to a maximum of Rs 70 per thousand, based on the duration of the insurance coverage. Likewise, policyholders under the ‘Term and Lifetime’ plan will receive a bonus between Rs 38 and Rs 73.

In the ‘Advance Payment Term’ plan, the bonus has been fixed between Rs 35 and Rs 51, while the ‘Advance Payment Term (Samunnati Annual)’ plan will offer a bonus ranging from Rs 23 to Rs 27. The ‘Mahalaxmi Term Life Insurance’ plan offers a bonus between Rs 45 and Rs 52 per thousand rupees of coverage.

The company has also declared bonus rates for other popular insurance schemes. The ‘Mahalaxmi Saral Jeevan Beema’ plan will yield a bonus between Rs 52 and Rs 55 depending on the policy period. Similarly, ‘Mahalaxmi Jeevan Herchah Beema’ will provide a bonus of Rs 50 to Rs 51, while the ‘Mahalaxmi Baal Bachat’ insurance plan offers bonuses between Rs 32 and Rs 39.

Fixed bonuses have been set for some plans irrespective of policy duration. The ‘Mahalaxmi Barsik Dhanfirta Beema’ will offer a flat bonus of Rs 35, while the ‘Mahalaxmi Dhandhanya Beema’ plan provides a constant bonus of Rs 45. Additionally, the ‘Mahalaxmi Endowment Life Insurance’ plan will provide a steady Rs 38 per thousand across all policy periods.

Prabhu Mahalaxmi Life has confirmed that these revised bonus rates will be applicable not only to regular policy maturities but also to death claims, surrender values, periodic claims, and other ongoing policies. The rates will remain effective until a new actuarial valuation is conducted and approved.