Name List of All the Insurance Companies in Nepal
Here is name list of all the Insurance Companies in Nepal. Insurance Companies in Nepal are playing vital roles to provide the life and non life security to customer in the state. Nepal has many nationalized and private Insurance Companies. There are 27 Insurance Companies of Nepal. There are enlisted 27 lists of licensed Insurance Companies of Nepal.
Insurance is a means to cover risks when transferring them to an insurer that will be responsible for guaranteeing or compensating all or part of the damage caused by the appearance of certain accidental situations.
It is an effective formula for coverage that involves paying a certain amount for a benefit or future compensation in case of an adverse situation, which in some cases, can be extreme (for example, if a car burns).
In Nepal, insurance is not common or popular like in other western countries. Partly because people are unaware of the benefits of insurance. Or, because people economic status doesn’t permit them to insure their life or their properties.
However, slowly people are realising about why insurance is important. Let’s discuss why we should do insurance in our life.
Life insurance is a benefit that you get for your family and loved ones and that will allow you to achieve some, several or all of the following objectives:
- Replace the income that you produce in case of your death.
- Have funds for unexpected funeral expenses or similar arrangements.
- Create an inheritance for your loved ones.
- Make a considerable contribution to the charity of your choice.
- Pay inheritance taxes (inheritance/estate taxes).
- Have a financial instrument that facilitates saving, investing or having collateral for loans.
- Financially cover the insured against the risk of personal accidents and/or health.
- Protect loved ones and family assets.
- Pay credits in case the insured has contracted a financial debt.
- Pay members or creditors of the insured (in case of a commercial company, for example).
- Guarantee an income for the insured or his beneficiaries.
These are top Insurance Companies of Nepal. These are not only the top ten Insurance Companies of Nepal. It may include best Insurance Companies of Nepal.
These are Alliance company limited, American life insurance company limited (Alico), Asian life insurance company, Deposit insurance and credit guarantee corporation, Everest insurance company limited., Gurans life insurance company limited., Himalyan general insurance company limited. Life insurance corporation (Nepal) limited.
Lumbini general insurance company limited. National insurance company limited. National life & General insurance company limited. National life insurance company limited. NB insurance company limited. Neco insurance limited. Nepal insurance company limited.
Nepal life Insurance Company limited. NLG insurance company limited. Premier insurance company (Nepal) limited. Prime life insurance company limited. Prudential insurance company limited. Rastriya Beema Sansthan Sagarmatha insurance company limited. Shikhar insurance companylimited. Siddhartha insurance company limited.
Surya life insurance company limited. The oriental insurance company limited. United insurance company(Nepal) limited. All the detail of Insurance Companies in Nepal on the basis of name, year established, head office, fax no. phone no. links etc are given below:
Name list of All The Insurance Companies in Nepal
1. Alliance company limited.
Head Office:- Tinkune
Phone:- ( 977 1) 44999220/4499226
Fax:- (977 1) 4499647
2. American life insurance company limited (Alico)
Head Office:- Pulchowk
Phone:- ( 977 1) 5555166
Fax:- (977 1) 5555176
3. Asian life insurance company
Head Office:- Newplaza
Phone:- ( 977 1) 4442047/4430270
Fax:- (977 1) 4442183
4. Deposit insurance and credit guarantee corporation
Head Office:- Tangal
Phone:- ( 977 1) 4410659/417602/4421241
Fax:- (977 1) 4410127
5. Everest insurance company limited.
Head Office:- Hattisar
Phone:- ( 977 1) 4425758/4445090
Fax:- (977 1) 4444366
6. Gurans life insurance company limited.
Head Office:- Lal colony marg, Kathmandu
Phone:- ( 977 1) 4441617/4441521
Fax:- (977 1) 4441525
7. Himalyan general insurance company limited.
Phone:- ( 977 1) 4231788/4213014
Fax:- (977 1)4241517
8. Life insurance corporation (Nepal) limited.
Head Office:- Kamaladi
Phone:- ( 977 1) 4168540/4168541/4168537/4168539
Fax:- (977 1)4168538
9. Lumbini general insurance company limited.
Head Office:- Thamel
Phone:- ( 977 1) 4411707/4433199
Fax:- (977 1) 4411692
10. National insurance company limited
Head Office:- Tripureshwor
Phone:- ( 977 1) 4260366/4250710
Fax:- (977 1) 4261289
11. National life & General insurance company limited.
Head Office:- Lazimpat
Phone:- ( 977 1) 4442646/4250710
Fax:- (977 1) 4416427
12. National life insurance company limited.
Phone:- ( 977 1) 4416556/4435636
Fax:- (977 1) 4416427
13. NB insurance company limited.
Head Office:- Lal Durbar
Phone:- ( 977 1) 4442457/4418862
Fax:- (977 1) 4425398
14. Neco insurance limited.
Head Office:- Putalisadak
Phone:- ( 977 1) 4427354/4421465
Fax:- (977 1)4418761
15. Nepal insurance company limited
Head Office:- Kamaladi
Phone:- ( 977 1) 4221353/4245565
Fax:- (977 1) 4225446
16. Nepal life insurance company limited.
Head Office:- Heritage Plaza Kamladi
Phone:- ( 977 1) 4223440/4241212/4223189
Fax:- (977 1) 4240143
17. NLG insurance company limited.
Head Office:- Panipokhari
Phone:- ( 977 1) 4442646/4418113
Fax:- (977 1) 4416427
18. Premier insurance company (Nepal) limited.
Head Office:- Tripureswor
Phone:- ( 977 1)4259567/4252872
Fax:- (977 1)4249708
19. Prime life insurance company limited.
Phone:- ( 977 1)4441778/4441664
Fax:- (977 1) 4441436
20. Prudential insurance company limited.
Head Office:- Putalisadak
Phone:- ( 977 1) 4212940/4212939
Fax:- (977 1)4441436
21. Rastriya Beema Sansthan
Head Office:- Ramshahpath
Phone:- ( 977 1) 4262520/4262564
Fax:- (977 1)4262610
22. Sagarmatha insurance company limited.
Phone:- ( 977 1)4412367
Fax:- (977 1)4412378
23. Shikhar insurance company limited.
Head Office:- Thapathali
Phone:- ( 977 1) 4246101/4246102
Fax:- (977 1) 4246103
24. Siddhartha insurance company limited.
Head Office:- Tripureshwor
Phone:- ( 977 1) 4257766/4254547
Fax:- (977 1) 4257776
25. Surya life insurance company limited.
Head Office:- Gairidhara
Phone:- ( 977 1) 4423742/4419565
Fax:- (977 1)4004583
26. The oriental insurance company limited.
Head Office:- Jamal
Phone:- ( 977 1) 4221448/4250137
Fax:- (977 1) 4223419
27. United insurance company(Nepal) limited.
Head Office:- Trade Tower Thapathali
Phone:- ( 977 1) 5111111
Fax:- (977 1) 5111112
Name List of All the Insurance Companies in Nepal
List of insurance companies in Nepal
Here are popular life insurance companies of Nepal.
1. Nepal Life Insurance Company Limited:
The Nepal Life Insurance Company Limited has been established under the Companies Act, 2053 and the Insurance Act, 2049 in 2058 B. A. Baisakh 21. The company was registered on 2056 Paush 11 at insurance committee. This company is Nepal’s first life insurance company established by the investment of Nepalese citizens only in the private sector.
The company’s capital is 1,73,40,00,000 and the authorized capital is 5 billion. The company jas the agreement with worlds renowned insurance companies like Hanover Life Re Germany and Score and Global Life Se France.
According to the company, the current insurance schemes in the market are: Safe Life Insurance Scheme, Jiban Sahara( life assistance) Life Insurance Scheme, Child Education and Marriage Affiliate Life Insurance Scheme, Life Laxmi Life Insurance Scheme, Life Spouse Life Insurance Scheme, Life Jyoti Life Insurance Scheme, Madi Life Insurance Scheme.
Other schemes it has introduced in the market are Child Education Scheme, New Life Insurance Insurance Scheme, New Dhanbharsha Life Insurance Scheme, Life Upgrading Life Insurance Scheme, and Foreign employment Madi life insurance scheme.
Conducted from a group of well-known business and family groups of Nepal, this company has succeeded in maintaining a record of the best business within the seventeen years of its establishment. That is why the company’s place has become extremely safer. Similarly, Nepal Life Insurance Company Limited has also been doing business by selling life insurance as other companies are working in the life insurance business.
However, Nepal Life Insurance Company is operating by forming its own foundation and purpose. This company has been working closely with the aim of relating financially to the country by giving information about the importance of life insurance relative to every home and country.
Furthermore, the company has expanded the branch throughout the country and has given proper training and consultation to the participants and it has been successful to keep their importance in insurance market business. Since life insurance is a service provider, the company has been working closely to provide service according to the international level.
The company has spread its extension throughout the country. Such as in the Middle zone it has Kathmandu branch located in Heritage Plaza, Kamaladi, Kathmandu, Nepal, Foreign Employment Life Insurance Office in Tahachal, Kathmandu, Banepa Branch in Banepa, Kavre in front of Telecom office, Nuwakot Branch in Widur-3, Nuwakot, Lalitpur Branch in Jawalakhel, Baneswor Branch in New Baneswor, Balaju Branch at balaju, Naxal Branch at Naxal.
Likewise Dharan Branch at Bhanuchok, Mahendrapath, Dharan, Pokhara Branch in New-road, Pokhara-9, Kaski. The company has its branch in the Eastern Development Zone such as Biratnagar Branch at Main road, Biratnagar (near the bus park), Birtamod Branch at Anarmani, Shanischare Road, Birtmod, Jhapa, Urlabari Branch at Urlabari-3, Morang, Urlabari. Fidim Branch at Nagarmukh, Lakhan Marg Panchthar, Rajbiraj branch at Rajbiraj. In the far western region, the company has opened its branches at Mahendranagar Branch in Mahendranagar-4, Kanchanpur, Nepal, Dhangadi Branch at Dhangadi-4, Kailali, Nepalgunj Branch at Surkhet Road, Nepalgunj-13, Banke. Surkhet Branch at Virendra Nagar -6, Surkhet, Tikapur Branch at Tikapur Ward no. 9.
In the midwestern region, the company has extended its branches at Hetauda Branch, Azar Amar-4, Hetauda, Birgunj Branch at Main road, Birgunj, Parsa, Lahan Branch at Marwadi tole, Lahan-7, Siraha, and Janakpur Branch at Sharma Bhawan, Bhanu Chok, Janakpur, Dhanusa.
In the western region, it has the Bhairahwa Branch in Siddharth Ward no. 7, Bhairahawa, Butwal Branch at Butwal 8, Dang Branch at Sabjimandi Ghorahi Dang, Palpa Branch at Silkhan Tole, Palpa, Nepal and Narayanghat Branch at Sangam Market, Sahid Chok-4, Narayanghat-9, Chitwan.
2. Rashtriya Bima Sansthan( National Insurance Institute):
Rashtriya Bima Sansthan was established as the Private Limited Company under the company act in Paush 1 2024 B. S. It was then converted into an institute in 2025 B. S. Paush 1. It has first started its function by ensuring the Renault Car of Late King Mahendra.
I began insuring for life in Falgun 9, 2029 B. S. This institute has been formed with the major objective of operating internal resources and capital for the economic development of the country and stopping foreign exchange expenses.
The scheme with which it has been serving its clients are Sawadhik insurance, Child education and marriage life-long life insurance, Advance payment life insurance, Long life insurance, ‘Life Safety’ Life Insurance, Child life insurance called Vatsalya, Husband wife joint life insurance named ‘life partner’, Myadi life insurance, Jiwan Bandhu Double Profit Life Insurance and Group life insurance.
This institution has been able to work and provide a high return to the goals and objectives taken by the Government of Nepal until today. The institute has got skilled manpower in Nepali insurance market. National Insurance Institute has become a synonymous future for preserving Nepali life. Man’s life is priceless and can not be compared.
But accidental disability or death of a person can disturb his family. Life insurance helps in facilitating the lives of a dependent family by the death of a family member. Not always we would be able to earn our living. So this institute helps us in saving some of our earning by insuring our life.
The insured money would be of great assistance at the time of our elderly life. Likewise, life insurance can be important for the future of the child. Even when the employee takes a loan from his working entity, he can be assured of a future life by keeping his life under insurance protection.
Due to life insurance, Income tax exemptions up to Rs. 20,000 is awarded. The main branch or the head office of the institute is at RBS Bhawan, Ramshpath Kathmandu. The other Branch offices of this company are Biratnagar Branch at Biratnagar, Gudri. Bhairahawa Branch at Lumbini Chok, Siddharthnagar. Birgunj Branch at Adarshanagar Birgunj. Pokhara and Branch at Chipledhunga Pokhara.
3. MetLife insurance company:
Founded in 1868, Metlife is a worldwide service provider of insurance, employee benefits, and merchant management, through its affiliate establishments and affiliate organizations. There is a head office in New York, MetLife operated in more than 50 countries of the world.
The company has its extension in Latin America, the Middle East, Europe, and Asia insurance markets and is serving around 1 billion customers around the world. MetLife Nepal is a branch of MetLife Corporate, which is operated from December 5, 2001, in Nepal.
Since the first foreign company to obtain insurance allowance in Nepal, Metlife is a leading organization of the country to insure life insurance, accident and health insurance, and employee benefits.
It has been providing accessible services to attractive insurance conservation plans and benefits. Their businesses are targeting the centre of the local community, their medical service providers, systematic care facilities and banking partners’ networks are working to understand the customers’ needs and provide them with the help of large networks.
There are 4000 agents in Nepal, which work hard to ensure that their customers find a suitable plan specifically. Metlife has been working as a worldwide industry since its establishment. Aided by a coordinated community, they encourage their staff’s career to be sensible. They believe in bringing unity in integrity, a multitude of perspective.
They are focused and dedicated to bringing the difference between their customers. MetLife helps customers their goals and provide the necessary routes and solutions in difficult situations and modes of life. They believe that their customers need a group to understand the diverse meaningful economy of Nepal.
It is their policy to help their clients with experts, who understand the community with a deeper understanding. They have highly trained groups who are willing to discuss with their clients what their needs are. Their Nepal-based management group has presented it by developing various measures along with the need for the local market and the customers’ expectations.
Including the deepest disputes of the insurance business. If you want to discuss your financial situation with personal interest, say one of their personal advisers will be glad to meet you in a favourable place to discuss your needs. For the sake of their client’s convenience, they also enjoy talking to you by phone.
Their customer service group staff will give you a fair solution to your inquiries and will suggest you a close and highly qualified personal adviser to you. All their personal advisors and customer service agents are trained by strength training.
Such training gives them the potential and knowledge experience to provide you with the right support by choosing the appropriate product to reflect on your needs. This insurance company has been providing several schemes to its millions of customers. Group Life, Group Personal Accident (GPA) and Chronic Diseases is one of the important schemes.
It is pure protection and periodic renewable policy that can be renewed every year. Metlife acknowledges that life is uncertain and that the employees need to be provided protection against the financial burden of falling on account of the accident.
Metlife Group Life, Group Personal Accident, and chronic Disease Insurance Policy provides protection to the employee against the economic condition, 24 hours of the day and 365 days of the year. Group periodic life Scheme covers your employees if they die due to accident or illness or if they are disabled. Group life (death due to accident and disease)
In case of insured or illness, if the insured employee is in any place of the world, a maximum amount of money will be given to him and his family. But, if the insured client has been killed during the war and as an active participant in the war and suicide, the compensation will be not be given. If any Insured Person is physically injured due to accident or illness and he is completely and permanently disabled.
And he is completely unsupported to adopt earnings or profits. If such insured clients age is less than 60 years, the benefits under this will be payable for a period of 60 months by following a one-year stay period. If he wants to increase the benefits of death when additional charges are not charged.
If the insured employee dies after paying a premium for 12 consecutive months and before his 60th birthday and in the next 12 months, due to accident or illness, the insured amount will be paid to his beneficiaries.
If the injured person is physically injured due to accident or illness, if he is permanently disabled, and when he is less than 60 years of age and after 6 months of insurance under the scheme, this benefit plan will be payable.
If the insured employee is injured by the accident, then such insured amount will be paid to him and his beneficiaries. If, the insured employee has been completely disabled due to accidents and such state continues for twelve months (12 months).
If the Insured Person is unable to gain profitable employment or employment throughout life, the insured amount is paid to him and his beneficiaries. Accidental Medical Recovery (AMR) is paid to those insured clients who had to get medical attention and treatment due to his illness and accident.
If, due to the injury caused by the accident, the treatment of the doctors, the treatment by the doctor is needed, the use of the hospital, or the maintenance of the bachelor’s nurse during the hospital. Then the amount will.be paid in the condition that 52 weeks have been crossed after he had attained the insurance.
In addition to that, the sum assured will be given to the extent mentioned in the policy. If, as a result of the injury, the insured employee has been completely disabled and the duration of the withdrawal period – i.e. 1 week (7 days) will continue for a longer period.
Weekly Accident Disability compensation will be applicable to the rights of such an insured employee. Such compensation shall be followed by the withdrawal period, and the payment will be initiated for a continuous period of time till the first day, but such payment will not exceed the maximum (52) weeks.
When, due to injury caused by accidents, the employee will continue to be kept in constant supervision for at least 24 hours after getting admitted to the hospital for treatment and weekly benefits will be paid in the policy. Under intensive disease, an insured amount will be paid when the insured employee is certified with the chronic illness defined and listed in the policy.
Insured employees and their clients can cover any of the three (3) schemes such as Excessive Cancer Only: Or Excessive cancer, stroke, first heart attack, severe coronary artery disease, surgery of heart valves, primary pulmonary hypertension.
Or, Excessive cancer, stroke, first heart attack, severe coronary artery disease, Primary pulmonary hypertension, last-phase Lung disease, last stage liver failure, Hepatitis, kidney failure, coma, aplastic anaemia, bone marrow transplant, and heart valve surgery.
Metlife started the concept of short insurance for the first time in Nepal in 2009. Today, their remote credit insurance has provided protection to debtors of more than 6 lakhs of cooperatives and small financial institutions of 77 districts of the country.
The debtors should not be worried about the repayment of their loan due to some incident. The Metlife will pay the remaining loan amount and also provide financial support to your family. It covers the debt of a small financial institution. This will pay the loan amount taken from the small financial institution if the debtor dies before paying the loan.
Remote credit short term insurance is a group insurance scheme, which can be distributed financially through the financial institutions which are flowing to the poor. This periodic insurance plan covers for those who got disabled accidentally and permanently due to the accident.
The scheme also covers the definite expenditure of the last rites. Education Protection Scheme is such a strong foundation, with which you can build your children’s future and career. In today’s growing competitive age, you want to give your children a better start by providing higher education.
Here, this education conservation plan fits your needs. The flexibility that you can maintain the age of your child according to your will, according to the scheme, is the same as flexibility for this scheme. You can choose any age within 10 to 25 years.
After the age of the child is matured, the insured amount in the policy and bonus amount will also be paid. The amount received so far can be spent for higher education studies.
If your children have got an education, say that they can be used to start their career or for their auspicious work like marriage. In case of death of preserved guardians, All the remaining premiums under the policy will be excused and the policy will be running the same.
Also, 1% of the insured amount will be given every month for the child’s education until he comes up to age. After maturity, the policy insured amount plus bonus money will be provided. In case of death of the insured child before coming off the insured age, the insurer amount with a bonus would be paid.
Payment on the disability of the Guardian: When adding a few premiums, you can add other important benefits-Disability protection management. Due to the fact that you have been completely and permanently disabled because of a disease or accident, all other premiums will be excused. 1% of the insured amount will.be paid monthly for child education till he comes to the age.
After maturity, the insured amount of the policy plus bonus amount will be paid to the family. Qualification needed for this type of scheme is that the child should be from the age of 1 month to 15 years, and the guardian must be 21 to 55 years old. Insurance amount should be at least From 50,000 to 50 lakhs.
The other scheme that this company has introduced in the market is called the Future Care DPS. Such savings and conservation plans that provide attractive maturity and substantial benefits. There are 2 types of schemes under the Future Care DPS scheme.
The first one is the Gold Plan in which in case of death, future care DPS and benefits will be paid. The benefits of this plan give you Maturity Value: Very attractive maturity unit that will generate reasonable returns to meet your financial needs.
Life Coverage – 100 per cent of insured amount: If the insured dies, the amount of under the scheme or the amount in the account, which is more, will be paid the same amount. 200% of insured money will be paid as an additional benefit if the life is lost due to the accident.
Accident Coverage – 200% of Insured Amoun will be given if the death due to accidents, hearing, speaking power is lost or the accident causes permanently disabled.
The other scheme is called the silver plan which gives you benefits such as Maturity Value: Very attractive maturity unit that will generate reasonable returns to meet your financial needs. Accident coverage – 200 per cent of insured money: Due to death by accidents or if the client has been disabled forever, two times the insured amount will be paid.
And the amount of the account will be paid on the day of the incident. If there is an accident, 2 times the payment of the amount will be given to losing sight, hearing, and speaking power. Such benefits will be based on the type and situation of the damage.
The company has brought the scheme for the elderly after their retirement age. So they can enjoy their retirement without any worries. The scheme is called the good future insurance which provides you with five options for your relaxation.
From which you can choose one, and get regular revenues per month. You will be able to select the necessary premiums that are available to you for any of the premium payment periods 10 or 15 or 20 or 25 or 30 years. If there is an unusual demise of insured, the amount will be provided with the bonus specified to the beneficiary.
Life Care scheme is beneficial at the sudden demise due to unexpected events and 24 listed which provide the financial security to the family. Various studies have shown that the number of people suffering from dangerous diseases is increasing.
These diseases have become a financial burden for family members as well as sensitive. Anyone who has an insurance plan will be able to secure himself financially and face such challenges. Life Shield offers a variety of packages of so that you can choose something that is appropriate to your needs.
4. Gurans life insurance company limited:
Gauras Life Insurance Company Limited is a big insurance company in Nepal. If you are ready for foreign employment, foreign employment insurance can be done by saving lives and keeping your family safe. While going for foreign employment, foreign employment myadi insurance must be done.
For this, you can contact the Gurans Life Insurance Company. This insurance company is providing service from 58 centres in Nepal. Insurance can be made from any of its branch offices. There is a facility to get the insurance money in the case of the payment of insurance fee specified by the Government of Nepal, and if the incident occurs.
This company has various types of life insurance plans for the convenience of customers. Such as gurans periodic insurance scheme, Gurus advance payment term life insurance plan, Gauras Life (Periodic and lifetime) insurance scheme, Gunras Child Safety Life Insurance Scheme, Gurans Sanjeevani Advance Payment Life Insurance Scheme, and Gurans Life Guard (Limited Payment periodic Life Insurance Scheme).
Gurans Life Insurance Co .Ltd. has been established and registered under the Company Act 2063 B.S. and Insurance Act 2049 as a Public Limited Company of Nepal. It was permitted to operate Life Insurance Business on 2064/12/18. Gurans Life Insurance Co. Ltd. is financed by T.M Dugar Group, Sunrise Bank Ltd. along with a group of diverse and renowned Businessmen, Industrialist and Legal professionals.
Documents required by the one who wants to insure are Health tested documents, Copy of certificate or passport of Nepali citizenship, Passport number and Details of the beneficiary (copy of citizenship). Depending on the age of insurer and the duration of the insurance, you may have to pay Rs 1025 to 10000.
If you are ready for foreign employment, you should pay attention when insurance is done: you should be at least 18 years of age and you cannot present any fake documents.
There are branches of this company throughout Nepal. Birtamod Region at Anarmani – 4, Jhapa, Birgunj Region at Ghantaghar, Birgunj, Nepalgunj region at Nepalgunj, Dhangadhi Region, Dhangadhi. Butwal Region at Butwal, Pokhara Region at New Road, Pokhara, Lalitpur Region at Jawalakhel, Lalitpur.
And many other branches all over the nation. Gurans sawadhik insurance scheme of this company includes provision for the family of the insured in the event of early death. The amount if not paid by reason of earlier death becomes payable at the end of the term.
Premiums are payable for a term of years specified or until death if it occurs within this period. If payment of premiums is discontinued for some reason after at least two years premiums have been paid.
A paid-up policy for an amount bearing the same proportion to the amount insured the number of premiums actually paid bears to the number stipulated for in the policy, will be automatically secured. Such a paid-up policy will not be entitled to participate in the profits declared thereafter.
Gurans advance payment term life insurance plan is of special interest to persons who, besides desiring to provide for their own old age and family, feel the need for benefits at periodical intervals. However, in the event of death at any time within the selected term, the full sum insured is payable without any deduction or adjustment to the beneficiary.
Premiums can be paid for the second term years or till death if it occurs within this period. The bonus will be paid on the full sum insured and are payable at the end of the selected term or at the life assured’s death. Gurans child safety insurance scheme allows making provision for Children’s Education or Marriage.
Although, under this policy, the amount insured along with a bonus is payable only at the end of the selected term. But in case of sudden demise, the life assured 1% of sum assured is payable monthly from death to the date of maturity of the child. Premium under this policy is to be paid for the selected term of the policy or till the death of Life Assured if occurs before the date of maturity.
However, a bonus will accure up to the end of the term, even after stoppage of the premiums on death. By paying an extra premium, Accident and Disability Benefit(due to the accident) can be covered. If this benefit is availed, the benefits are paid at once on the date of the death/Disability by accident.
However, the basic amount that is insured with bonuses is payable at the end of the term. Gurans Sanjeevani advance payment life insurance scheme is the scheme in which 5% of the amount insured is divided by 12 and will be returned to the client after completing 5 years from the date of commencement in every month.
Same payment will be continued till the maturity of policy or death of an insured client. And, after completing 15 years, 50% of the sum insured with bonus will be returned to the client. If there is a sudden death of the client before the maturity of the policy. Then, the full/partial amount plus bonus will be returned according to the insurance act.
Gurans life safety insurance scheme makes provision for the family of the insured in the event of early death, as also promised a lump sum amount at the desired age.
The amount insured if not paid by reason of earlier death, becomes payable at the end of the term. Premiums are to be paid for a limited period of the chosen term or until death if it occurs within this period. If payment of premiums is discontinued after at least two years of the premiums have been paid.
A paid-up policy for an amount bearing the same proportion to the sum insured as the number of premiums actually paid bears to the number stipulated for in the will be automatically secured. Gurans Baideshik Rogjar Myadi Jeevan has been yojana is formed for covering natural as well as accidental insurance for citizens living and working out of Nepal.
Gurans Annual Cash Back Life Insurance Policy is introduced with the focus on those clients who have to make repayment of loans or to individual needs. In this policy, 4% of the sum insured is returned to the assured at the completion of every year.
On maturity of the policy date, the remaining sum insured plus earned bonus will be returned to the policyholder. In case of death of an insured client before the maturity of the policy, the full sum insured plus earned bonus will be returned to the nominee.
5. Asian life insurance company:
The Asian life insurance company has been established under the insurance act 2049, permitted the license to function as the insurance company from the insurance committee on Falgun 15 2064. It commences its operation from Chaitra 21 2064.
Asian Life Insurance Company is the first life insurance company to obtain a license to work as an insurance company from the insurance committee after 6 years of operation. Company’s authorized capital is Rs. 200 crore. Out of which, Rs.1arab 25 crore 67 lakhs has been disbursed.
Out of which, 70% have been collected from the founders of the company, 30% from the general public and employees. Among the 93 founding shareholders, 2 are the institutional founder and 91 are the personal founding partners.
Institutional Founder Shareholders are Mahalakshmi Development Bank and Guesheshwari Merchants Bank and Finance Limited, Lalitpur. Members of the Board of Directors and other personal investors have other professionals and businesses such as banks who have been able to lead, financial institutions, private entities, etc..
Some shareholders have been working at high levels in government services. This company, which has been paying attention to the satisfaction of the clients professionally use modern technology to conduct insurance business. And to treat all types of customer groups properly and to provide the highest service.
Asian Life Insurance Company Limited has been established with the mission of providing service oriented insurance plans and insurance services to satisfy the customer. It is focused to develop and promote excellent names in the life insurance market.
Their vision is to develop efficient manpower to serve, educate each Nepali citizen about the importance of the insurance to ensure the future of themselves and their children. And to bring equality and transparency in customer service and company management.
In order to insure a large amount, minimize the risk disaster and obtain a lot of insurance business, every life insurance company needs the reinsurance company. For this purpose, this company has been reinsuring from the Hannover insurance company of Malaysia branch. Hannover company is the third largest reinsuring company in the world.
The company has its branches in all parts of the country. It has a branch in Kathmandu at New Plaza, Putalisadak. Banepa Branch at Banepa N.P. Chardobato, Kavre, Narayanagarh Branch at Bharatpur N.P. (Pulchok, Narayanagarh), Butwal branch at Butwal N.P. 10, Milan Chok, Surkhet Branch at Virendra Nagar N.P. Birendra Chok. Doty Branch at Dipayal Siligadhi N. P. Doti, Mahendranagar Branch at Bhimadutt N.P. Street no 5, Campus Road, Damak branch at Mangaldeep market Damak 10.
Birtamod branch at Bhadrapur Road, Annapurna Chowk, Jhapa, Dharan Branch at Dharan NP12, Chhatachok, Sunsari. Biratnagar branch at Hanumandas Road -7, Biratnagar, Morang, Birgunj Branch at Birgunj suburban, ghantaghar Parsa. Dang Branch at Tulsi NP-5B Line, Dang.
Nepalganj branch at Nepalgunj Sub Metropolitan Municipality 16, Surkhet Road, Banke, Pokhara Branch at Pokhara, MahendraPul Kaski. Janakpur Branch at Janakpur Sub Metropolis- Murarka Bhawan, Bhanu Chok. Lahan Branch at Lahan N.P. loktantrik chok Siraha, Dhandhadi branch at Dhangadhi Sub Metropolitan-4, Kailali, Nuwakot Branch at Vidur-4, Nuwakot (near Himalayan Bank), Hetauda branch at School Road-4, Hetauda, Balaju Branch at Kathmandu Metropolitan 16, machhapokhari.
Tikapur Branch at Tikapur Municipality 9, Kailali, Javalakhel Branch at Manbhavan, Javalakhel, 13, Lalitpur. Palpa Branch at Tansen N.P. 4, Palpa, Dang branch at Ghorahi-15, Dang, Jumla branch at Chandan Nath NP 5, Jumla, Illam branch at Illam, Baglung Branch at Baglung NP-2, Baglung, Kohalpur Branch at New road, Kohalpur 11 Banke. Bardibas branch at Mahottari, kalaiya branch at Bara.
The company has introduced multiple schemes in the market for the benefit of its customers from varied ages, occupation, and purposes. Sawadhik short term life insurance is a useful life insurance scheme, designed to target low-income earners.
The main characteristics of this life insurance scheme are Low insurance can be insured, A few savings will be required to pay the insurance fee, Claim payment will be of a simple form and simple process to insure. There is no need to pay a high insurance premium for short life insurance.
For example, if a 30-year-old man wants to insure Rs.25,000 for 15 years. Then he has to pay Rs. 1875 annually as the insurance fee. That means Rs. 5 per day. If the insured client is alive until the maturation of the insurance policy, then the total insured amount plus the bonus amount accrued by the insured will be given at the end of the insured period.
In the case of the sudden demise of the client, the sum insured and the insured bonus money will be paid for a single payment. Happy life insurance (lifetime and periodic) insurance scheme is another profitable scheme for the clients which gives the customer the facility of the insured amount with bonus payment, a Credit arrangement, Period Payment and share in the profit of the company.
There are other schemes of the company such as the advance payment insurance policy and many others which the customer can choose according to their preference.
6. Prime life insurance company:
The insurance needs and desires of a person are different from each other. In the prime life insurance company, after intensive study of all these things, they recommend suggesting the relevant insurance service as per the customer, which is appropriate and economically sustainable.
The Prime Life Insurance Company Limited has been established under the Companies Act, 2063, for the purpose of collecting social resources and economic resources across the country as life insurance fees and enhancing the national economy.
It has been registered as an insurance business with the permission of the insurance committee under Insurance Act, 2049. And has started business turnover from 2065.2.22. According to the criteria set by the insurance committee, the authorized capital of this company is 2 billion, issuance and holding capital rupees 1,785 million.
The survival of the insurance company is reinsurance. The company has completed the reinsurance agreement with the world’s leading reinsurance companies such as Germany’s Hannover company and Score Global Life insurance company of France.
The schemes that this company has introduced in the market are quite different from the schemes of other companies. The important schemes of this company include Prime Foreign Employment Madi Life Insurance. Foreign employment has given significant importance to the Nepali economy.
By the unusual circumstances that can come from this general employment, they have presented Primary Foreign Employment (Madi) Life Insurance Scheme. This policy gives the financial security to the insured and its family in case of the sudden demise of the insurer or disability due to accidents.
Keeping in mind the difficulties in which the money is spent on foreign employment, they have provided the insurance fee very little. PrimeLife Insurance Company has introduced an innovative new product as “Prime Jeevan Upahar Plan”. The product is formed to cover the high net worth people who are out of the ring of life insurance.
The product offers immense return at the time of Maturity of the policy and covers high death benefit during the policy period. The benefit of this product is that a policyholder gets an equal sum endowment policy at the first policy anniversary data of master policy without any cost, as “Upahar” the gift.
Prime life Myadi life insurance is for those This insurance plan is more utilized for those who are required to have life insurance only for a certain time period. It can insure from Minimum 5-year period to 35 years. Prime accessible (advance payment time) life insurance is the new type of money back policy. In this policy, during the maturation period, a certain amount of money is paid to the client.
So at the time of need, the customer doesn’t have to take loans. Likewise, 100% insured amount is also given to the client when in need. At the completion of the maturation of the policy, an attractive bonus is also given to the clients. Prime Life Safe Housing Life Insurance makes your dream to own your house real.
The characteristics of this policy are Your home loan will now change to 0% interest, Including insurance security in home loans, Life insurance will be insured throughout the loan period, Economic benefits according to the speciality of life insurance, Sometimes your loved ones will not be forced home and income Tax Profit.
Prime Dhanasagar life Insurance policy allows the client to obtain 25% of the insured amount every five years three times during the 20 years of the maturation period. After the completion of the maturation of the policy, 40% of the insured amount with bonus is paid to the client.
Prime life protection insurance has the characteristic features of Insurance term to be determined as per requirement, Premium payment frequency to be chosen as per convenience and Sum insured to be chosen as per customer’s need. PrimeLife women like an insurance policy is another unique feature introduced by the company in the market.
Insurance term which can be determined as per the requirement of the client, Premium payment time which can be chosen as per convenience and Sum insured which can be chosen as per customer’s need are the key features of this policy.
Prime simple and future-oriented (pension plan) life insurance is for those who want their retired life to be independent and carefree. You definitely make a difference in your financial freedom, with the savings collected by your hard work. By insuring, you can satisfy all the financial needs of your leisure life.
The answer to the question is the Prime Pension Plan. Prime Simple Life Insurance policy allows you to insure some amount of your earning for your future. Thus, during the insurance period, the amount deposited in the instalment is paid after the maturation of the policy with a bonus.
This allows the insurer and his family to have a comfortable life in the future. In case of the sudden demise of the insurer, the total amount of the insurance with bonus is paid to the legal nominee of the insurer. Education of the child and marriage are two important rituals of any family.
One of these important tasks of life requires a large amount of money. For this, if a parent plans a plan for a while, these activities will change in the festival. This is the plan that is included in the primary gold insurance. This gives your children a high degree of comfort, start a business life and make arrangements for getting married easily.
Insurance paid payment method are Yearly, half-yearly, quarterly and monthly. These are some of the policies that you can choose according to your needs and convenience.
7. IME life insurance company:
IME life insurance company has been registered in the year 2065 B.S. Asoj 15 but came into full function only in the year 2074 B. S. Bhadra 1. Since then, the company has been focused on providing various personal and collective insurance schemes related to various needs of clients including security, savings and investment.
The EME Life Insurance Company’s Capital is 1.4 billion rupees. Nepal reinsurance company has been engaged as the reinsurance company of this company. Their goal is to provide their services to the public easily, excellent inscriptions, free easy claims and solutions to business.
They have been working to Increase public awareness about life insurance, promote livelihoods of customers through life insurance and contribute to the development of the nation. This company has been influenced by the IME Group, which has wide access to the local remittances agencies including the EME Group’s offices in Nepalbari and also more than 6000 IME centres.
IME Life Insurance is trying to establish a strong customer service through their agencies and strategy partner, corporate agency, bank assurance and their direct media. Through the strategic partners around the country, the IME Life Insurance has set a goal to build and expand it’s the strong and reliable network of branches.
They have always been able to upgrade the skills of these partners through regular training to provide excellent service to their customers. It is important for them to achieve market share and to expand the trusted moral business network.
The company is focused on providing international quality services. They provide customer service with the use of information technology which has been improving constantly. They are committed to providing safe and fast customer service.
If the market of life insurance is promising, the arrival of new Life Insurance companies has made this market more competitive. But IME is more than these. It has made them more specific to focus on the efficiency of their business, in their work and to focus on increasing the reach of insurance to more people.
IME has introduced many new schemes to the general public. IME Annual Cash Back Plan(5%) allows Payment to be paid for the insured and according to the rules subject to the terms of the insured if the insured is suddenly demised before the end of the insurance maturation date.
Likewise, there are IME Annual Cash Back Plan(6%) and IME Annual Cash Back Plan(7%). IME Child Illumination Life Insurance Scheme permits the bonus amount to be paid in accordance with the insured amount and the rules of the company.
If the insured client is able to pay all the premium until the maturation of the policy. In case of the sudden demise of the insured client before the maturation of the policy. In accordance with the rules o the company, all the insured amount with bonis will be returned to the beneficiary.
There are other schemes such as IME Bal Umanga life insurance, IME Dhanwardhan life insurance policy, IME lifetime life insurance policy, IME Sabal insurance policy, IME limited payment money back plan, IME Money Back Cum Whole Life Plan and IME simple life insurance plan.