“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 under the plan?

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 This amount can be withdrawn in case of an emergency.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 beneficiary without deducting the withdrawals from the emergency fund. Accumulated bonus calculated on 100% sum assured is also paid.

Optional benefits available under the Plan: By paying a small additional premium the Life Assured can gain the following rider 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 Allied Insurance Company will pay an amount equal to the “Sum Assured” as TPD and the future premiums are waived.

 Double Accident Benefit (DAB):  In case of death due to accident during term of policy Allied Insurance Company will pay an amount equal to sum assured as DAB and the future premiums are waived.

Flexible Terms: The following terms can be chosen as per your preference.

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Eligibility Conditions

Minimum Age at Entry: 18 to 48 Years            
Maximum Maturity Age: 60 Years                  
Minimum Sum Assured: MVR50,000                

Discounts Available

Payment                    Sum Assured         
2%                 MVR 150,000 to 249,999 – 0.1%    
Half-yearly: 1%        MVR 250,000 and above – 0.2%


What are the documents required?

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


Illustrative Example

·         Female proposer

·         Sum Assured: 100,000.00

·         Term: 20 Years

Age Normal Premium C.I. + Waiver 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 150,000.00 (150% of sum assured)

Critical Illness: MVR 50,000.00(50% of Sum assured) + further premiums will be waived.

TPD: MVR 100,000.00(amount equal to the sum assured) + further premiums will be waived.

DAB: MVR100,000.00(amount equal to the sum assured)



1)What is KAMANA “Women Empower”?

It is a life insurance plan, designed exclusively for women, to help them save for their short-term and long-term financial needs, and protection.

2)What are the terms available under the plan?

The proposer can choose a term of 12/14/16/18/20/22/24 years as per her preference. However the maximum maturity age (the age of the LA when the policy matures) should not exceed 60.

Example: A 48 year old can only choose a 12 year term as she will reach the age of 60 in the 12th year of the term; Whereas, a 30-year-old can choose any of the 7 available terms.

3)s there a minimum age required to purchase the plan?

Yes, the proposer should be at least 18 years of age and should not be older than 48 years old at the time of purchasing the policy. 

4)What is the lowest and the highest “Sum Assured” a customer can choose?

The “Sum Assured” should not be less than MVR 50,000.00. However, the customer can choose any amount as “Sum Assured” (if it is above MVR 50,000 .00), as per her financial capabilities.

5)How much does the plan cost?

There is no fixed price for the plan as the premium is calculated based on the “Sum Assured” chosen, the term, age of the proposer etc.

6)How do I decide the Sum Assured?

The “Sum Assured” should be chosen as per the need and financial capability of the proposer. An easy way to do that is by calculating how much she can afford to pay as a premium. Once it is decided she can go for a “Sum Assured” that falls within the range.

7)What are the options available if I want to cancel the plan?

Given that the “Life Assured” has completed 2 years (the lock-in period), she is provided with two options if she wants to discontinue the plan before it matures. One is to surrender the policy and withdraw the surrender value. The other option is to convert it into a reduced paid-up policy and withdraw the money when the plan matures.

If the LA wants to cancel the policy before the lock-in period, nothing will be paid to her.

8)What is policy surrendering?

It is when the LA wants to surrender the policy before the maturity (only after she has completed the lock-in period of two years). In the event of the policy surrender, Allied will calculate the surrender value based on number of premiums paid, balance term of policy and accumulated bonus. Furthermore, the life insurance cover will be terminated.

Survival benefits already paid (if any) will be deducted from the surrender value

9)What is a paid-up policy?

If the LA wants to discontinue the premium payment, but wishes to have a reduced life insurance cover till maturity, she is given the option to convert the policy into a paid-up policy. It is when the “Sum Assured” is reduced proportionately as per the premiums paid to total premiums payable.

At the time of maturity or in the event of death of the LA, the reduced Paid-up value and bonus accumulated on the policy before it was converted into a paid-up is paid.

Survival benefits already paid (if any) will be deducted from the paid – up value.

Paid – up policy is free from payment of further premiums.

However bonus accumulation stops.

Future survival benefits will not be paid.

A paid – up policy also loses all additional benefits like critical illness, total permanent disability due to accident, double accident death benefit if they have been opted by the life assured.

10)Can a lapsed / paid up policy be revived?

Yes a lapsed / paid up policy can be revived by paying premium instalments which are in arrears along with financial charges as applicable and subject to satisfactory health condition.  On revival all benefits are restored.

11)Is there a waiting period for Critical Illness Cover?

Yes, the LA has to wait for 1 year (from the commencement date) before the cover comes into effect.

Example: If the life Assured opts for the cover at the time of purchasing the policy, and is diagnosed with a critical illness during the 6th month, she will not be given the Critical Illness benefit as she has not completed the waiting period of 1 year. 

12)What are the critical illnesses covered under the plan?

  • Cancer of specified severity: (Malignant Tumor) 
  • Open chest CABG (Coronary Artery Bypass Graft) surgery
  • First heart attack – of specified severity
  • Kidney failure requiring regular dialysis
  • Major organ or bone marrow transplant (as recipient)
  • Stroke resulting in permanent symptoms
  • Heart valve surgery
  • Permanent paralysis of limbs
  • Third degree burns
  • Benign brain tumor

13)What are the exclusive features available under KAMANA?

a) Emergency fund allows you to draw 5% of sum assured after completion of every two year period.  This amount can be used in circumstances such as sudden unemployment or emergency situations such as a no-pay leave.  

b) Enhanced death benefit of 150% of sum assured will ensure that surviving family members do not face undue difficulties in your absence.

c) Critical illness benefit is paid in lump sum and will help you in speedy recovery. It can also come in handy to pay for your immediate needs like loan repayment, monthly expenses, rehabilitation, physiotherapy, childcare etc

 Above mentioned exclusive features of 5% biennial emergency fund, 150% enhanced death cover and critical illness cover are available only in KAMANA.

14)How is critical illness cover different from health policy?

Health policy reimburses expenses incurred on treatment covered under the policy subject to limits and conditions specified therein. Production of medical bills and reports is necessary. Whereas in critical illness diagnosis by the specialist doctor has to be produced along with relevant lab reports. An amount equal to sum assured will be paid after 30 days from diagnosis. Thus while health policy pays for treatment cost critical illness pays for additional costs not necessarily covered under health policy and helps in speedy recovery.

15)What are optional benefits?

Critical illness, Total permanent disability ( TPD ) due to double accident benefit ( DAB ) are available as optional benefits under KAMANA since they are not compulsory and can be availed by paying small additional premiums. If the policy lapses due to premium default optional benefits will be lost. Hence it is very important to pay premiums without fail as and when they fall due. When a lapsed policy is revived optional benefits are restored.

Note: Our Life Insurance Customers can pay thier premiums through BML BillPAY Service. The service is currently available only for Life Insurance Customers. But we have future plans to make it easy for our general insurance customers to pay their premiums online.

Next Steps?

News and Updates

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    Allied Islamic window; Ayady Takaful holds a press briefing session regarding “Distribution of Surplus” for the year 2017. As announced at Allied Special Event 2019, Ayady customers can submit claim forms till 31st March 2019, 4pm. Surplus application forms will be available online from Ayady website; www.ayady.mv as well as from Ayady Customer front office located in H.Orchid (In front of Velaanaage)

    February 11th, 2019
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    State Trading Organization plc appoints Mr. Mohamed Shafaz as the new Managing Director of Allied Insurance Company of the Maldives, effective from 31st January 2019. The appointment was made following the resignation of former Managing Director Mr. Ahmed Ameel, owing to familial responsibilities.

    January 31st, 2019
  • Allied Insurance Company marks 34th Anniversary in Special Event 2019

    The leading insurer of the Maldives; Allied Insurance Company holds the 3rd edition of Special Event to celebrate their 34 years of dedicative service. This ceremony held in Dharubaaruge on the 30th of January 2019 was honored by the Chief Guest; Governor of Maldives Monetary Authority Mr.Ahmed Naseer, other high level dignitaries/ government officials, Agents/ Brokers and corporate clients of Allied Insurance Company.

    January 30th, 2019