These terms and conditions (“Insurance Ts & Cs”) apply to the making available by Mahila Money to you, via the Platform, of the Insurance Product, such Insurance Product continuing to be governed entirely by the Policy.

It is clarified that the Insurance Product shall only be made available to such Users who have been sanctioned loans via the Platform and to whom such loans are successfully disbursed on or after 04 November 2022. 

You represent and agree that you have the capacity and authority to bind yourself to the terms of these Insurance Ts & Cs and agree to be bound by the terms mentioned herewith.

You accept these Terms when You visit the Platform, sign up for, access, or use any of our Services, including but not limited to features, technologies or functions offered on our Platform including products and services (collectively referred to as “Services”). For the avoidance of doubt, Services excludes products, services offered by and/or on behalf of third-party service providers, via the Platform. 

You understand and agree that Mahila Money will treat Your use of the Services as acceptance of the Terms from such point of usage. You shall not use the Services, visit the Platform if You do not accept the Terms. 


Insurance Product ”means the general health insurance product issued by the Insurer, governed by the Policy, and made available to you via the Platform subject to these Insurance Ts & Cs.

Insurer” means Magma HDI General Insurance Company Private Limited, being the provider of the Insurance Product.

Mahila Money", we”, “us”, “our” shall mean Mahila Money Private Limited “which expression(s)shall include its subsidiaries, affiliates, and its holding company, as the case maybe.

"Platform” shall mean the website and/or application of Mahila Money, via which the Insurance Product has been made available to you, and via which you have successfully applied for a loan.

Policy”means the insurance policy governing the Insurance Product, as amended from time to time at the discretion of the Insurer, and available he‍

"User ”,"you” or “your” shall mean you as a customer of the Platform to whom a loan via the Platform has been successfully sanctioned and disbursed on or after 04 November 2022, and to whom the Insurance Product has been offered by Mahila Money as a free add-on to the loan product. .


  1. The Insurance Product is not available to persons under the age of 18 (eighteen) and above 60 (sixty).
  2. You must already be sanctioned a loan via the Platform on or after 04 November 2022, and have been successfully disbursed such loan.
  3. You shall not impersonate any person or entity, or falsely state or otherwise misrepresent your identity, age, details or affiliation with any person or entity.
  4. In the event any disclosure is required under the Policy prior to making a claim under the Insurance Product, if you fail to comply with your duty of disclosure, the Insurer may be entitled to repudiate or reduce its liability under the contract in respect of a claim or may cancel the contract. If your non-disclosure was fraudulent, the Insurer may also have the option of voiding the contract from the beginning (i.e., treating it as if it never existed).
  5. Information regarding the full extent of your duty of disclosure is contained in your Policy wording and should be read carefully at any point in your insurance transaction including when the Policy is renewed, extended, varied or reinstated. The Policy is available for your information here.
  6. Every contract of insurance is subject to the doctrine of utmost good faith, which requires that the parties to the contract should act toward each other with the utmost good faith. Failure to do so on your part may prejudice any claim or the continuation of cover provided by Insurers.

Details of Insurance Product:

TheInsurance Product shall be made available for no additional cost to every User towhom a loan from the Platform is successfully disbursed. It is clarified thatthis Product shall not be made available to any User to whom a loan has notbeen successfully disbursed via the Platform, regardless, of whether such loanhas been sanctioned or not.

Insurance Product: Hospicash + EMI Protection + Personal Accident + Child Education + Loss ofIncome

As of November 2022, this Insurance Product covers the following:

  1. Hospicash - daily expense of INR 1,000 (Indian Rupees One Thousand) for 30 (thirty) days;
  2. EMI Protection - INR 10,000(Indian Rupees Ten Thousand) in case of 5 (five) days or more hospitalisation;
  3. EMI Protection - INR 10,000(Indian Rupees Ten Thousand) in case of 5 (five) days or more hospitalisation;
  4. Child Education for INR 50,000 (Indian Rupees Fifty Thousand) for 1(one) child in case of accidental death of the Insured.
  5. Loss of Income - 3 (three) months income(upto INR 20,000 per month) in case of loss of income due to medical condition a rising out of permanent total disablement.
The above summary is indicative only and remains subject to the Policy and any changes made thereto by the Insurer. Please be aware that the Policy may be updated inline with the Insurer’s requirements and applicable law from time to time. Please refer to the Policy for the complete terms and conditions of the Insurance Product and all conditions relating to making a claim there under.
  1. To make a claim under the Insurance Product and / or for further information around the claim process, please write to us at claimsops@mahila.money.
  2. The User agrees and understands that Mahila Money shall only support the Users to submit an insurance claim by helping to share with the Insurer all necessary supporting documentation provided by the User. However, the Insurer retains complete discretion over all decisions pertaining to the insurance claim. The Insurer shall approve or reject a claim, as may be the case, within 30 (thirty) days from the date of receipt of the last necessary document, or such period as the Insurer may specify in itsPolicy availablehila Money shall bear no liability with respect to the Insurance Product and/or anyclaim made thereunder by any User.

Other Terms and Conditions

  1. The validity for the Insurance Product shall be of 1 (one) year from the date of disbursal of loan to you via the Platform.
  2.  All terms of the Insurance Product, including relating to claims, waiting period, exclusions, and deductibles are covered in the Policy here.
  3.  The Insurance Product and any claims made there under shall be subject to these Insurance Ts & Cs and the Policy document provided to the Users, along with the terms and conditions and Privacy Policy available on the Platform.
  4.  These Insurance Ts & Cs shall also remain subject to Mahila Money’s Terms and Conditions and Privacy Policy available on the Platform.

Communication Policy

By accepting the Insurance Ts & Cs, you accept the following:

  1. You agree that Mahila Money and the Insurer may contact you via phone call, SMS, or email as and when required.
  2. You are and shall be personally bound and liable under the terms of these Insurance Ts & Cs and you agree to indemnify Mahila Money with respect to any claims, losses, expenses (including, without limitation, legal expenses), damages or other liability (collectively, “Liability Claims”) arising or resulting from violation of these Insurance Ts & Cs. Mahila Money shall not have any liability for any Liability Claims arising or resulting from reliance on any representation, warranty, agreement, instruction, notice or communication received from you whether on your own behalf or on behalf of such entity.
  3.  Mahila Money and the Insurer shall each have access to such data as arises out of your use of the Insurance Product and you explicitly consent to the collection, storage and handling of such data by Mahila Money and the Insurer in line with applicable law.


  1. Mahila Money may upon notice and without liability to any party:
    i         Mahila Money may upon notice and without liability to any party:
    ii        substitute, withdraw, modify or cancel any Insurance Product without disclosing any reason and without any payment or compensation to any User whatsoever.
  2.  Mahila Money makes no warranty or representation as to the quality or merchant ability for the purpose of the Insurer’s Insurance Product. Any dispute about the same must be resolved directly with the Insurer.
  3. In the event there is any conflict between the terms set out in Insurance Ts &Cs, the Privacy Policy, and your Policy, the following order of prevalence shall apply: (i) the Policy document, (ii) Insurance Ts &Cs, and (iii) the Privacy Policy.