Mahalaxmi Insurance
Choose a structured savings & life protection plan tailored for Nepali citizens living and working in India. Zero hidden charges, 100% legal security, and guaranteed double maturity.
₹60,000 Total Deposit (5 Yrs)
₹90,000 Total Deposit (5 Yrs)
₹1,20,000 Total Deposit (5 Yrs)
₹1,50,000 Total Deposit (5 Yrs)
₹1,80,000 Total Deposit (5 Yrs)
₹3,00,000 Total Deposit (5 Yrs)
| Key Policy Feature | Essential (₹1,000) | Silver (₹1,500) | Golden (₹2,000) | Majestic (₹2,500) | Royal (₹3,000) | Imperial (₹5,000) |
|---|---|---|---|---|---|---|
| Annual Deposit Commitment | ₹12,000 | ₹18,000 | ₹24,000 | ₹30,000 | ₹36,000 | ₹60,000 |
| Total 5-Year Deposit | ₹60,000 | ₹90,000 | ₹1,20,000 | ₹1,50,000 | ₹1,80,000 | ₹3,00,000 |
| Guaranteed 12-Yr Maturity Payout | ₹1,20,000 (2x) | ₹1,80,000 (2x) | ₹2,40,000 (2x) | ₹3,00,000 (2x) | ₹3,60,000 (2x) | ₹6,00,000 (2x) |
| Year-End Loyalty Bonus | 3% Yearly | 5% Yearly | 7.5% Yearly | 10% Yearly | 12% Yearly | 15% Yearly |
| Emergency Liquidity Window | 6 Months Wait | 4 Months Wait | Immediate (No Penalty) | Immediate (No Penalty) | Immediate (No Penalty) | Immediate VIP Access |
| Accidental Coverage Level | Tier 1 Basic | Tier 2 Standard | Tier 3 Comprehensive | Tier 4 Elite Maximum | Tier 5 Executive Platinum | Tier 6 Royal Paramount |
| Hospital Daily Cash Relief | ₹500 / day | ₹1,000 / day | ₹1,750 / day | ₹2,500 / day | ₹3,500 / day | ₹5,000 / day |
Comprehensive actuarial benchmarks, entry ages, premium paying term ratios, and medical underwriting thresholds governing all Mahalaxmi policy tiers.
Regulated under IRDAI Actuarial Standards & Cross-Border Bilateral Protection Guidelines
| Actuarial Parameter | Silver Shield | Gold Secure | Diamond Elite | Platinum Supreme |
|---|---|---|---|---|
| person Minimum Entry Age | 18 Years (Last Birthday) | 18 Years (Last Birthday) | 18 Years (Last Birthday) | 18 Years (Last Birthday) |
| elderly Maximum Entry Age | 55 Years (Last Birthday) | 55 Years (Last Birthday) | 50 Years (Last Birthday) | 60 Years (Last Birthday) |
| hourglass_top Maximum Maturity Age | 70 Years | 70 Years | 75 Years | 75 Years (Whole Life Option) |
| date_range Policy Term (PT) | 10 to 20 Years | 10, 15, 20 Years | 15 to 25 Years | 10, 15, 20, 25 Years or to Age 85 |
| payments Premium Paying Term (PPT) | Equal to PT (Regular) | Regular / Limited (7, 10 Yrs) | Regular / Limited (5, 10 Yrs) | Regular, Limited (5 Yrs), Single Pay |
| currency_rupee Minimum Base Sum Assured | ₹2,50,000 | ₹5,00,000 | ₹10,00,000 | ₹25,00,000 |
| clinical_notes Non-Medical Tele-MER Limit | Up to ₹10 Lakhs (< 45 yrs) | Up to ₹15 Lakhs (< 45 yrs) | Up to ₹20 Lakhs (< 40 yrs) | Mandatory Full MER + Blood Profile |
| schedule Grace Period For Premiums | 30 Days (15 Days for Monthly) | 30 Days (15 Days for Monthly) | 30 Days (15 Days for Monthly) | 30 Days (15 Days for Monthly) |
| history_edu Free-Look Cancellation | 30 Days (Distance) / 15 Days (Physical) | 30 Days (Distance) / 15 Days (Physical) | 30 Days (Distance) / 15 Days (Physical) | 30 Days (Distance) / 15 Days (Physical) |
Tailor your base policy with statutory supplemental riders. Enhance catastrophic coverage, protect family income during critical illness, and guarantee policy continuation.
Provides an additional 100% of the Base Sum Assured immediately upon accidental death. Also covers permanent total or partial loss of limbs, speech, or sight per scheduled dismemberment scale.
Pays out an accelerated lump sum upon first diagnosis of any of the 36 covered life-threatening critical illnesses, including myocardial infarction, stroke, kidney failure, major organ transplant, and cancer.
Ensures your family's savings goal never defaults. In the event of total permanent disability or unfortunate demise of the earning proposer, all future premiums are waived while the policy matures with full bonuses.
Replaces monthly family earnings if an accident or illness results in permanent disability preventing professional work. Pays 1% of the rider Sum Assured every month for a continuous period of 10 years (120 months).
Provides a fixed non-reimbursement daily cash allowance for every 24 hours of hospitalization. Doubled automatically for Intensive Care Unit (ICU) admissions to offset attendant and wage loss expenses.
Exclusively engineered for the Nepalese diaspora residing or working in India. Covers mortal remains air/surface transit back to native municipal zones in Nepal with zero cross-border customs paperwork hurdles.
Full statutory transparency on cash surrender values, reduced paid-up adjustments, and instant policyholder liquidity loans without terminating your coverage.
A policy acquires a guaranteed surrender value after payment of 2 full consecutive years of premiums. Mahalaxmi guarantees the higher of GSV or SSV at the time of surrender.
GSV = (Factor × Total Premiums Paid*) + (Bonus Factor × Vested Bonuses)
*Excludes applicable taxes, underwriting extra premiums, and rider premiums.
If you cannot pay future premiums after 2 full years, your policy doesn't terminate. It automatically converts to a Reduced Paid-Up status with adjusted benefits.
Paid-Up SA = (Premiums Paid / Premiums Payable) × Original Base SA
No subsequent bonuses accrue once a policy enters Reduced Paid-Up mode.
Access liquidity without surrendering your family's financial protection. Avail up to 85% of your accrued surrender value within 24 hours directly into your bank account.
Interest is adjustable against maturity proceeds if not serviced during policy term.
| Policy Duration | Year 1 | Year 2 | Year 3 | Year 5 | Year 10 | Year 15 | Year 20 (Maturity) |
|---|---|---|---|---|---|---|---|
| GSV % of Basic Premiums | 0% (Nil) | 30.0% | 35.0% | 50.0% | 65.0% | 80.0% | 100.0% + Bonuses |
| Max Loan Availability | Not Eligible | 85% of GSV | 85% of GSV | 85% of GSV | 85% of GSV | 85% of GSV | Full Settlement |
All policies are fully structured under the Income Tax Act, 1961, and comply strictly with the Insurance Act, 1938 and IRDAI Policyholder Protection Regulations.
Government of India Income Tax Act, 1961
Premiums paid towards life insurance policies qualify for deduction from taxable gross total income under Section 80C for Individual and HUF tax filers.
All maturity proceeds, accrued loyalty bonuses, and death claim payouts are completely exempt from income tax, provided annual premium does not exceed 10% of the actual Sum Assured.
Premiums paid for Critical Illness and Hospital Cash riders are deductible under Section 80D (₹25,000 self/family + ₹50,000 senior citizen parents).
Insurance Act, 1938 (As Amended)
No policy of life insurance shall be called in question on any ground whatsoever after the expiry of 3 (three) years from the date of issuance or revival. Absolute peace of mind for your beneficiaries.
No person shall allow or offer to allow, either directly or indirectly, as an inducement to any person to take out or renew any policy, any rebate of commission payable or premium shown on the policy.
Policyholders can designate primary and alternate nominees. Policies can also be legally assigned to commercial banks as collateral for housing or business loans.
We hold ourselves to auditable operational timelines. Every policyholder transaction is governed by strict turnaround guarantees backed by automated penalty compensations.
Uncontested death and critical illness claims settled within 48 hours of complete documentation.
Digital policy kit with official e-signature issued via DigiLocker and WhatsApp within 10 minutes of payment.
Reactivate a lapsed policy anytime within 5 years from the first unpaid premium without losing vested bonuses.
Dedicated bilingual relationship managers resolve servicing and nominee updates within 1 business day.
Authoritative answers on cross-border transactions, payment modes, underwriting requirements, and claim protocols.
Yes, absolutely. Under Indo-Nepal bilateral friendship treaties and Mahalaxmi cross-border operating agreements, Nepalese citizens residing or employed in India are 100% eligible for all policy tiers. Accepted KYC documents include:
If an automated deduction fails due to insufficient balance or technical mandate decline, you receive immediate SMS and email alerts with an instant UPI/PayU payment link. You are protected by a statutory Grace Period of 30 days for quarterly/half-yearly/yearly modes, and 15 days for monthly NACH modes.
During this grace period, your life cover remains 100% active. If an unfortunate claim occurs during the grace period, the claim is paid out in full after deducting the unpaid modal premium.
Remittances to nominees residing in Nepal are executed under the Reserve Bank of India (RBI) and Nepal Rastra Bank (NRB) authorized Indo-Nepal Remittance Facility Scheme. Payouts can be credited directly into any commercial bank account across Nepal (in Nepalese Rupees at official banking exchange rates) or disbursed in Indian Rupees via authorized direct banking transfer.
Yes. Under Section 39 of the Insurance Act 1938, you can update your nomination at any point during the policy tenure completely free of charge. You can allocate custom percentage shares to multiple nominees (e.g., 50% to spouse, 25% each to two children). Changes can be initiated online via the Mahalaxmi Policyholder Portal or by submitting Form ML-NOM-01 at any branch.
Annual bonuses are declared based on the actuarial valuation of Mahalaxmi's Participating Life Fund conducted at the end of every financial year (March 31). Once declared and allocated to your policy, the bonus becomes Simple Reversionary Vested Bonus and is legally guaranteed to be paid on maturity or earlier demise. Vested bonuses cannot be revoked or diminished by future market movements.
Our community advisors will walk you through payment frequencies, nominee designations, and maturity timelines.