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Kamana is a savings/protection plan with multiple benefits exclusively designed to cater to the short term and long term financial needs of women. The plan pays biennial cash benefits and provides a valuable cover against critical illness and untimely death.
What are the benefits?
5% of the sum assured is accumulated every two years till maturity, starting
from the end of the second year. This amount can be withdrawn in case
of an emergency.
This will help you accumulate a fund for short term needs like loss/switch
of jobs, loss of pay due to extension of maternity leave and other such unforeseen
situations.
Balance amount after deducting the withdrawals from the emergency fund is paid on maturity along with accumulated bonus calculated on the full sum assured.
In an event of the unfortunate demise of the life assured, Kamana pays 150% of the sum assured to the beneficiary without deducting the withdrawals from the emergency fund. Accumulated bonus calculated on 100% sum assured is also paid.
Optional Benefits:
The plan also pays 50% or 100% of the sum assured on diagnosis of any critical illnesses specified in the policy schedule. This will help you meet your immediate financial responsibilities. Future premiums are waived and benefits continue as per policy schedule.
In case of total permanent disability due to accident during term of policy an amount equal to the sum assured is paid as TPD and future premiums are waived.
In case of death due to accident during term of policy an amount equal to sum assured is paid as DAB.
Flexible Terms
The following terms can be chosen as per your preference.
| 12 | 14 | 16 | 18 | 20 | 22 | 24 |
Eligibility Conditions:
| Minimum Age at Entry | 18 to 48 Years |
| Maximum Maturity Age | 65 years old |
| Minimum Sum Assured | MVR 500,000 |
Discounts Available:
| Frequency | |
|---|---|
| Yearly | 2% |
| Half Yearly | 1% |
| Sum Assured | |
|---|---|
| MVR 150,000 to 249,999 | 0.1% |
| MVR 250,000 & above | 0.2% |
Illustrative Example:
Female Proposer | Sum Assured: 100,000 | Term: 20 Years
| Age | Basic Premium | C.I +Walver Benefit | TPD | DAB | Total Premium |
|---|---|---|---|---|---|
| 25 | 638 | 25 | 25 | 17 | 705 |
| 30 | 650 | 25 | 25 | 17 | 717 |
| 35 | 670 | 25 | 25 | 17 | 737 |
| 40 | 705 | 37 | 25 | 17 | 784 |
Death Benefit: MVR 150,000 (150% of sum assured) + bonus
Critical Illness: MVR 50,000 (50% of sum assured) + further premiums will be waived
TPD: MVR 100,000 (amount equal to the sum assured) + further premiums will be waived
DAB: MVR 100,000 (amount equal to the sum assured)
Premium can be paid in cash or BML’s BillPay.
Required Documents:
