Prabhu Mahalaxmi Life Insurance was formed by the merger of Prabhu Life and Mahalaxmi Life. Today it holds one of the strongest claim records in the market – 98.33% on our derived measure for FY 2081/82, ranking #3 of 14, with a very clean claims pipeline. This review covers its plans, how reliably it pays, and who it suits.
Quick Facts
| Detail | Information |
|---|---|
| Full name | Prabhu Mahalaxmi Life Insurance Limited |
| NEPSE symbol | PMLI |
| Type | Private, Nepali-owned (merger of Prabhu Life + Mahalaxmi Life) |
| Regulator | Nepal Beema Pradhikaran (NIA) |
| Market share (premium) | 2.96% |
| Life fund | NPR 13.83 arba |
| Claim ratio FY 2081/82 (derived) | 98.33% (rank #3 of 14) |
| Claim ratio FY 2080/81 (derived) | 98.56% (broadly steady) |
| Total claims paid FY 2081/82 | NPR 1.15 billion (Rs. 115.08 crore) |
| Entry age | 18 – 65 years (adult plans) |
| Policy terms | 5 – 30 years |
Claim Settlement Ratio: A Clean #3
An honest note on the number first. The NIA does not publish a per-company “claim settlement ratio.” It publishes claims paid and claims outstanding for each insurer, and the 98.33% here is a ratio we derive from those (claims paid divided by claims paid plus outstanding). It is amount-based and excludes rejected claims.
Prabhu Mahalaxmi’s record is genuinely strong. In FY 2081/82 it paid Rs. 115.08 crore (about NPR 1.15 billion) in claims against only about Rs. 2 crore left outstanding at year-end – one of the cleanest paid-to-outstanding balances in the market, which is what puts it at #3. The figure is essentially flat year on year (98.56% to 98.33%, a rounding-level move) – steady, top-tier performance, held through the integration of the two merged companies. As always, an amount-based ratio cannot show settlement speed, so it is still fair to ask about timelines.
Plans Available (FY 2081/82)
Endowment: Super Surakshit Beema (flagship)
Prabhu Mahalaxmi’s best-selling savings-plus-protection plan, and one of a broad menu of endowment plans it sells (others include Samriddha Jeevan, Chamatkarik Herchah, Nirdhakka Jeevan, and Bumper Shreebridhhi). It pays the sum assured plus accumulated bonus at maturity, or the full sum assured to your nominee on death during the term.
- Endowment bonus (FY 2081/82): Rs. 33 to Rs. 70 per 1,000 sum assured per year
- Riders available: Accident, Critical Illness, Disability (also PremiumThe regular payment you make to keep your insurance policy active. Full definition → Waiver and disability benefits)
- Policy loan: Yes, after 3 years | Surrender: Yes
Term: Dhukkako Myadi Jeevan (flagship)
Pure life protection – the highest cover for the lowest premium. Prabhu Mahalaxmi also offers several term and premium-return options (Lagani Firta, Jeevan Surakshya, Smart Plus, Gajjabko Lagani Firta).
Whole Life: Sarbashrestha Aajeevan (flagship)
An endowment-cum-whole-life plan: long-term cover that also builds a maturity benefit with bonus. Suited to buyers who want lasting protection plus savings.
Don't buy based on reviews alone. Compare claim ratios and IRR instantly.
Compare All PlansMoney Back: Lokpriya Dhanfirta (flagship)
An anticipated-endowment / money-back plan that returns part of the sum assured at fixed intervals during the term. Prabhu Mahalaxmi also offers the Baibhav Jeevan anticipated plan.
A Note on Bonus Rates
Prabhu Mahalaxmi’s declared endowment bonus for FY 2081/82 is Rs. 33 to Rs. 70 per 1,000 sum assured (sourced from Beemapost). That is a modest-to-mid range by market standards, so its appeal is claim reliability rather than peak bonus. Its other plans carry their own declared rates, so confirm the bonus for the specific plan and term you are buying. To weigh insurers side by side, see our comparison of all 14 companies.
Who Should Choose Prabhu Mahalaxmi Life?
Choose Prabhu Mahalaxmi if:
- You put claim reliability first – it ranks #3 (98.33%), steady, with a very clean paid-to-outstanding balance
- You want a Critical Illness rider (along with accident, disability, and premium-waiver options)
- You need entry up to age 65 or a 30-year term
- You want a broad menu of savings, term, and money-back plans
Consider alternatives if:
- You want the highest possible bonus – National Life (up to Rs. 85) and Nepal Life (up to Rs. 82) declare higher endowment ranges
- You prefer a single long-established brand over a recently merged company
See Your Own Numbers
Premiums depend on your age, sum assured, and term, so a single sample figure can mislead. Use the Premium Calculator to compare Prabhu Mahalaxmi’s estimated premium against all 13 other insurers for your exact inputs.
Data source: NIA Annual Report FY 2081/82 (Schedules 14 and 15) for financials and claim amounts; plan names from Prabhu Mahalaxmi’s own product list; bonus rates from Beemapost. The claim “ratio” is our amount-based derivation (claims paid over paid plus outstanding, in NPR crore); the NIA does not publish a per-company settlement ratio. Any premium shown by our calculator is an estimate, not a quote. Full disclaimer.