Kamana

Designed for the short term and long term financial needs of women with biennial cash benefits and a valuable cover against critical illness and untimely death.

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?

Emergency Fund
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 This amount can be withdrawn in case of an emergency.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.
Maturity Benefit
Balance amount after deducting the withdrawals from the emergency fund is paid on maturity along with accumulated bonus calculated on the full sum assured.
Death Benefit
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:

Critical Illness Benefit
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.
Total Permanent Disability (TPD)
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.
Double Accident Benefit (DAB)
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:

ID card copy of life to be assured and beneficiary
3 Months’ premium (for monthly policies)
Medical reports (If required)

Related Documents

Proposal Form