Prabhu Life Insurance launches Shree Budhi Jiban Bima scheme into market; scheme to produce 5% p.a. regular benefit while amount of premium remains same

Prabhu Life Insurance Company has launched its new life insurance product “Shree Jiban Bima” to the market on Poush 5, 2075. The product was made public by the company’s chairman Dr. Aatma Ram Ghimire. The event was also attended by Acting CEO of the bank Mr. Kishor Prashad Lamichane, BoDs and representatives from different organizations.

Under the new scheme, the insurance amount will produce benefits of 5% p.a. while the rate of insurance premium payable to the company will not exceed above the earlier fixed amount throughout the insurance period.

The life insurance company currently has a paid up value of Rs 1.40 arba that belongs to promoter shareholders. the insurance company therefore plans to issue IPO shares worth of Rs 60 crore to general public to meet Rs 2 arba paid up value mark.