Prabhu Mahalaxmi Life Offers Up to 75% Discount on Late Fees for Lapsed Policy Renewals

Kathmandu — Prabhu Mahalaxmi Life Insurance Limited has announced a special limited-time offer, providing up to 75 percent discount on late fees for the renewal of lapsed insurance policies. This initiative will be in effect from Ashad 4 to Ashad 15 (June 16 – 29).

According to the company, the discount structure is based on the duration of the policy lapse: policies lapsed for less than two years will receive a 75 percent discount on the late fee, those lapsed for more than two years but less than three years will receive a 50 percent discount, and policies lapsed for over three years will be eligible for a 25 percent discount.

However, the company clarified that this offer does not apply to policyholders of the Samunnati Jeevan Beema Yojana and Double Dhamaka Beema Yojana policy schemes.

Additionally, Prabhu Mahalaxmi Life has informed that this discount can only be availed once during the policy term. If the policyholder chooses to surrender the renewed policy within two years of availing the discount, the previously granted discount will be withdrawn.