8. Reliable life insurance company:
Reliable Nepal Life Insurance Limited is one of the leading company of the country affiliated with reputed, economist, banker, businessman. This company has taken the goal of selling various new life insurance schemes in the masses and targeting its presence in the country.
Reliable Nepal Life Insurance Limited has arranged the operation from 2074.05.15. The company has established the goal to be the first choice of Nepalese people in the field of life insurance for their financial security and prosperity.
And to win the confidence of people by providing easy accessibility to insurance with wide range of life insurance products, friendly staffs, use of modern technology and presence at strategic locations.
The company has reinsurance agreement with one of the world’s leading reinsurance company “Hannover Re Life Reinsurance Company”, Germany. Company has also made agreement with Nepal Reinsurance Company Limited for the reinsurance coverage of the policies.
Like other companies, it also has introduced many schemes and policies in the market for the general public. Such as Reliable Life Insurance Scheme which has the key features like Minimum bonus rate Rs. 50 per thousand, Optional facility will include features provided by disability and disability due to the illness.
Minimum admission age: 16 years, Maximum admission age: 65 years, Minimum Insurance Term: 5 years. Maximum insurance period: 54 years. Insurance paid payment method: Annual / Semi-annual / Quarterly. Minimum Insurance: Rs. 50,000 and Maximum Insurance depending on insuring client income, occupation, dependency on health.
Due to the direct reason of the accident or the full disability due to the cause of the illness. The client would not have to pay the premium according to the insured and the supplemental agreement. Permanent discharge facility equal to the sum insured amount will be paid.
The full disability and disabled facilities will be received only after the ineffective conditions of the insured after 183 days. In case of the sudden or accidental death of the client, the insured amount will be paid to the beneficiary. If the client wants to obtain the loan, the company also provide this facility.
The loan amount should be within 90% of the total insured value. Reliable Higher Education Life Insurance Scheme is the child’s life-saving life insurance for an excellent type of profits. Parents can buy this plan for the future of their children and higher education at home and abroad. This life insurance plan will be useful for children with up to 15 years of age to buy.
The company has set up an initial bonus rate of Rs. 50 per thousand under the scheme. Insurance fee will be charged on the basis of payment method half yearly, quarterly and monthly.
The payment of the insurance amount depends upon the conditions like if the insured client is alive till the maturation of the policy. Then the insured amount and bonus as per the rules of the company will be given to the client.
In case of the expiration of the client before the completion of the policy, the insured amount with bonus will be paid to the beneficiary. If the child that is the insured child have undergone certain accident, disability due to illneas and accident, the company allows the facility of non payment option of the premium till the child reaches 16 years of age.
And in case of sudden demise of the guardian of the child, 1% of the insured amount will be given each month for childs education till he reaches the age of 16. Reliable advance payment policy include of the insurance plan with the continuous payment of regular insurance.
It is a scheme that has a mixed benefit of the insurance and the return of insurance backed by insured amount. The insured will be able to get advance payments from time to time by the insured as per the arrangement.
Under the scheme, you will be able to choose the plan for the duration of the appropriate time insured in various advance payment periods. In the case of the premature expiration of the client, the premium tthat has been paid up to the death of expiration with the bonus as per the rules will be given to the legal nominee.
After the payment of the premium up to 4 years and the client has been alive, the insured amount will be refunded every two years. After the maturation of the policy, the client has survived , remaining amount with bonus will be paid.
This scheme will allow the insured to participate in the company’s profit. This will be charged by the insured based on the bonus rate announced by the company at the end of the financial year. Initially, the initial bonus rate declared by the company for this insurance plan was Rs. 50 per thousand. Relilable Dhanpati Life Insurance Scheme is Such a plan which fulfills a dream of becoming a millionaire of a person.
This scheme is a plan to provide high returns, security, and savings simultaneously under a fixed life insurance plan. The minimum insured amount that can be insured by the client is Rs. 50 lakhs. Any maturity will be selected and insurance fee will be calculated on the same basis.
This will be insured by choosing the maturity cost, as much as the amount you want, such as 50 million rupees, one million, or more, will be insured and the amount will be paid. Relilable Nepal Life Insurance Limited, targeted to every Nepalese who wishes to be a millionaire by saving small amount time to time.
The benefits of this scheme is one is death benefit. In the case of insured demise in the stated period of time, the person who is nominated will be paid equal to the maturity equivalent. The other one is the Maturity Benefit. In the case of insurance termination, if the insured survives, the company will have to pay the maturity equal to the amount chosen.
Insurance Payment Methods for Payment is Yearly / Half Yearly / Quarterly / Monthly. If the payment is done every month in the case of the employees, they have to present the salary sheet proving they have received the salary of the month. The insurance charge will be calculated based on minimum admission age and maximum insurance period.
The other benefits of this scheme are Millionaire can be made from small savings. Min. 50,000,000 can be insured On the basis of income sources, whichever maturity can be selected and can be insured. In the insurance period, if the insured dies or the insured survived in the termination term, the maturity value mentioned in the insurer has been guaranteed.
9. Citizen life insurance company:
Citizen Life insurance company is the fastest developing life insurance companies in Nepal. It commences it functions on October 19, 2017 (Kartik 02, 2074) after obtaining the permission from Beema Samiti, the Insurance Regulatory Authority of Nepal on August 23, 2017 (Bhadra 07, 2074).
CitizenLife is a public limited company with a capital of NPR 3,000 million, issued capital of NPR 2,500 million. And is promoted by Kantipur Media Group, Shikhar Insurance, reputed Aviation industries, successful bankers, manufacturing industrialists.
CEOs from different Insurance Companies, pharmaceutical companies, finance and investment firms, hospitality and tourism companies, real estate companies and several other reputed representatives from different industries.
The company is serving its clients through 62 branches in different parts of the country and through service centres for foreign employment insurance. Its service network is stronger and diversified to distribute a range of various products.
Complying with regulatory laws, Citizen Life has reinsurance arrangement with foreign reinsurance company and Nepal Reinsurance Co. as well as Consulting Actuary based in overseas. It focuses on implementing the international global practices of successful companies in the local market as per the local needs, based on the concept of Globalization.
With the use of the latest technology, it has the objective of reaching the grass root level and support the families in case of financial difficulty that might occur after the loss of the one earning for the living. It is completely focused on working towards customer satisfaction and delivering value to its clients/shareholders through creative and different insurance plans designed according to societal needs.
The company has introduced a wide range of insurance solutions to help secure your family’s future. Its products are designed to provide economic support for child’s education, property with protection solutions, health and wellness solutions, retirement plans and savings.
Thereby helping it’s valued customers to stay financially secure and independent in the future. The company has set it’s vision to be established as the most trustworthy life insurance company in the country, be people’s first choice in the insurance and to create the most perfect employee friendly environment.
The company has always worked since it’s formation to better understand customers needs and providing the best choice. It has always strived to become the leader in providing financial protection for all ages. Some people friendly policies that it has introduced in the market are the Citizen Annual Money Back Insurance Plan.
It is designed for people who need cash in hand for their businesses, walks of life and to the people who have taken loans from different financial institutions. According to the policy, the insured is provided with 5% amount of the Sum assured annually. The insurance coverage is given equal to the sum insured in spite of the money back received yearly by the insured during the term period.
At the maturation of the policy, the remaining Sum assured after deducting the Survival Benefit Installments and the bonus will be then given to the insured. In case of sudden demise before the maturation of the policy, the whole sum assured and bonus will be provided to the beneficiary without deducting the previously paid Survival Benefit Installments.
Citizen Samuhik Myadi Jeevan Beema Yojana is another beneficiary plan for the public. It is a Group Insurance Plan. This plan can also be issued to Micro Finance Institutions and Cooperatives. This plan can be used for insuring the savings account holders and the loan borrowers of these organizations.
A single Master Policy is issued in the name of organization and the insured client will get an insurance certificate. The certificate state that the policy has been issued in the client’s name as the proof of their insurance. Citizen Group Term Insurance Plan is a one year plan which can be renewed frequently up to the age of 64 years.
This plan can be offered to those who have employee and employer relationship. A single plan is issued to the group through which entire member in the group is then insured. If new members have to be added, it can be done by paying the premium.
Critical Illness Rider is the insurance plan that has been introduced by the company to unburden the load of critical sickness expenses. Since with time, the lifestyle and the environment of people have been changing. More and more people are prone to the chronic diseases such as renal disease, heart disease,cancer, diabetes etc.
These diseases not only make people sick, but also place a huge burden of finance on family. This is where this plan comes in handy. It offers financial support required to pay the costs associated with the life changing critical illnesses. If the client is diagnosed with critical illnesses that are mentioned in the plan, then the client will receive a considerable amount to start the treatment.
This plan can be a reliable assistance to reduce the financial burden while the client cope with his illness. It helps in maintaining the standard of living, paying your children’s educational fees and divert for the best medical treatment options. Foreign Employment Term Life Policy is compulsory for those who are going abroad for for foreign employment.
This policy provode the insured amount to the beneficiary in case if anything happens to the one going abroad. So that some financial burden can be lessened of the family. In Citizen Regular Pay Money Back Insurance Plan, the client has to pay periodic amount of sum in specific intervals to meet financial need of life.
Citizen Regular Pay Endowment Insurance Plan is another profit oriented policy which provide sum insured with bonus at the maturation of the policy. I case of the demise of the client, the total amount is paid to the beneficiary before the maturation of the policy.
Citizen Jeevan Sarathi Yojana is an insurance plan to provide long term protection to you and your family. This plan has been formed to meet the changing socio-culture of Nepal. Nowadays, many youngsters are leaving the nation for jobs and education.
Likewise, youngsters are not looking after their parents at their old age. Specially, when they are retired and have no source of income, this plan can be the Sarathi that you need. This plan offers protection to you and your life partner by providing considerable amount at maturity.
Bal Bhabisya Jeevan Beema Yojana is also a profit plan to assist parents in making provision of funds required for meeting expenses for higher education and marriage of children. It covers the educational fees required for the children and ensuring their future.
It also sees for their marriage and establishing themselves in any profession or business they want to engage in. In case of sudden demise of parents, it pays for the educational expenses of the children and the total amount along with the bonus will be paid to the beneficiary. So it completely justifies it’s purpose.
10. Sanima life insurance company:
Sanima Life Insurance company Limited was formed under the Companies Act, 2063 on 2064/08/13. It obtain the permission from Beema Samiti on 2074/05/07. This company is being promoted by Non Residents Nepalese (NRN), who have investment in Finance, Banking, Hydropower and Tourism etc in Nepal.
It was the main goal of becoming the trusted name in the Life Insurance Sector of Nepal. Sanima Bank of Nepal is the major promoter of Sanima Life Insurance Limited. It is formed with the aim of providing completely new experience to the general public in Nepal. It focuses on utilising new modern technology and variety of new options in respect of products.
It provides the strong financial security to the child, parents, youngsters, retired elderly so they can become financially independent and provide the financial security to their family.
They make their operation as transparent as they can so as to win the confidence of it’s customers. Because of these qualities and interested tions of the company, it has been emerging as the leading insurance company in Nepal. The company has reinsurance agreement with the national reinsuring company the Nepal Reinsurance Company.
Variuos new plans that it has introduced for the public in the market are sanima saral life insurance plan. The benefits of this plan are the accidental death benefits and permanent total disability benefit. If the client dies due to accident before the maturation of the policy, the company shall pay additional basic sum assured but not exceeding maximum NPR 30 lakh.
In the second benefit, if the client suffers from the permanent disability due to accident, remaining premium payment will be waived and disability benefit will be paid in 120 equal installment of sum assured.
Sanima term life insurance is a non-participating term insurance plan which provides pre-decided amount insured to the beneficiary on death of the client during the payment of the premium. If there is sudden demise of the client, the amount insured will be paid to the nominee / beneficiary. It will then terminate the policy after the payment.
However, there is no maturity benefit on this plan. Sanima jeevan shree life insurance policy provides sum insured along with guaranteed bonus at the end of maturity of the policy. Incase of accidental death of the client,the total amount is paid to the no inee included in the policy.
This policy guarantees Rs 70 per thousand per year return. Sanima dirghayu life insurance policy provides the total amount that has been insured with bonus to the client after the end of the policy.
If sudden demise of the client occur, then all amount is payable to the beneficiary mentioned in the policy. After maturity, risk coverage equal to basic sum insured continues up to 100 years of age of the client. In case of death of the client after maturity, additional sum assured will be paid to beneficiary.
In case, insured is alive up to age of 100, sum insured will be paid to the client. In event of death of client, due to accident during the maturation of the policy, the company shall pay additional amount insured (Maximum sum assured for the rider is NRs. 30,00,000/- or basic sum assured whichever is lower) to the nominee mentioned.
In case of permanent total disability of insured due to accident during the maturation of the policy, remaining premium will be waived and disability benefit will be paid up to 10 years. Myadi life insurance policy is a non-participating term insurance plan. It provides pre-decided sum to the beneficiary on death of the client during the policy period.
Sanima dhanpati life insurance policy is the plan created to meet the financial needs of the client during the payment of the premium. It allows the client to receive certain percentage of the amount insured during specific interval of time. Sanima shubhalaxmi insurance policy provides amount insured along with specific bonus at the end of the policy.
Maximum amount that can be insured is NPR 1 Million. In case of the sudden demise of the client, the amount is then paid to the beneficiary.The major feature of this policy is that the amount insured and vested bonus is paid to the client after maturation of the policy.
And in the natural death of the client, double the amount that is insured with the bonus is paid to the beneficiary. And in sudden accidental death of the client, triple the amount of the sum insured with bonus is paid to the beneficiary. Sanima Bal saugat insurance policy is formed to provide the Higher education and secure the golden future for the child.
It helps the parents to cover the expenses required for the education of the child. The policy pays certain percentage of the insured amount at certain interval to the client for the education of the child. Then the specified bonus is paid to the client after the maturation offhe policy.
In case of sudden death of the client, remaining premium will be relinquished. And in the sudden demise of the client during the maturation of the policy, the amount is paid to the nominee.
11. Prabhu life insurance company:
Prabhu Life Insurance Ltd. Which was star life insurance company before was established on 2074 Mangsir 28 (December 14, 2017). It has been providing numerous insurance policies to the public through it’s network all over the nation. It has been promoted by Prabhu Group of Companies, a renowned business group in the nation.
This developing group has providing wide range of services through various customer service platforms that have been improving the Nepalese lives every day in various aspects. This life insurance company has been mainly promoted by Prabhu Bank Limited and Shangrila Development Bank.
It has been established to serve the Nepalese citizens through it’s life insurance services according to their needs and capabilities. It has 200 million capital fund that secures the financial strength of the insurer and it’s customers as well.
The company has the reinsurance agreement with the renowned re-insurer Hannover Re, Malaysia which defines their ability to settle any sort of claims instantly. The major objectives of the company are to deliver affordable and customized Life Insurance plans to the general people by using modern information technology in a customer friendly environment.
The company intends to be the top and the most trusted and valued insurance company of the nation. For which they follow strong work ethics, efficient workforce and un-paralleled customer experience. They are guided thus to achieve their goal by Professionalism, Corporate Governance, Team Work and Reliability.
They have spread their branch all over the nation such as in Itahari, Damak, Biratnagar, Dharan, Illam, Dhankuta, Phidim, Mirchaya, Hariwon, Birgunj, Kalaiya, Pokhariya, Garuda, Lahan, Janakpur. It’s Corporate Office is at Ameer Bhawan, 3rd Floor, Kamaladi Ganeshsthan.
It also has it’s extension at Bhaktapur and Sindhuli. This company has introduced many new policies in the market for general people. Such as Baibhav Jeevan Beema (Money Back Plan) which offers survival benefit in three installment.
The installment is paid with specified percentage of total amount insured during the period of maturation of the policy. Shubha Griha Jeevan Beema fulfills the dream of the people to have their own home.
It covers both the EMI of the Bank as well as premium of Prabhu Life under one category. In this policy, banks can provide the home loan with insurance protection bundled in one package. Therefore, this policy not only secures the client but also the bank which provides the loan.This is a product which provides financial return to the costumers after the pay out of the total loan.
The policy allows the clients to be secured during the loan period and ensure the money back facility in a loan product. It provides Tax benefits on their income and gives peace of mind thinking that the loved ones will never be homeless. Amulya Jeevan Beema is another product of the company that values the life of it’s dear customers.
It provides the financial security up to 100 years of your age. The insured client can enjoy life insurance benefit at maturity of the policy with the payment of total amount insured with bonus specified. Some of the feature of this policy are that it provides the lifelong protection to the client. It gives security to fulfill financial obligation of life.
Sambridhha Jeevan Beema is the policy that ensures the safe and secure financial condition of it’s insured clients. It help to create financial Independence at older age and serves financial protection to the dependent of the client.
It also provides the accidental death benefits and disability benefits like any other policies. It also shares the profit of the company with the client with added bonus. It also provide the insurance policy for the better future of the child.
12. The Oriental insurance company:
This Oriental Insurance Company, established as a public institution of the Government of India, has been providing Nepal service as an integral part of Nepal as a continuous insurance company since 1956. In the beginning, this company has started its service as a branch office in Kathmandu.
In that time, Nepal Insurance and Transport Corporation (NITC) was only insurance company which was operating insurance for Nepal Bank Limited. The company is a pioneer in determining the methods for operating smoothly and professionally.
The company’s strength lies in its ultimately trained and motivated workforce which provides insurance protection to different areas and has a large expertise. Specialization of special insurance cover for Oriental projects such as power plants, petrochemicals, steuels and chemical planners etc. is specially developed.
The company has developed different types of insurance protection to meet the requirements of both the urban and rural population of Nepal. The company has a highly qualified and competent team of professionals to provide excellence in customer service.
The head office of the Oriental is in New Delhi and there are 31 Regional Offices in different areas of the country and operating offices of more than 1800+. The company has extended it’s branches in Nepal, Kuwait and Dubai. The premium which was less than 1 lakh rupees at the beginning of the year, in 1973, it reached Rs. 58 crores and during the year 2015-16 this increased to Rs. 10791.92 crores.
Initially, the main business of this oriental company was direct insurance holding and reimbursement of the insurance issued by the NITC. In addition to the increase in insurance fees, the company has completed the operational branches in Biratnagar, Birgunj, Pokhara and Nepalgunj / Butwal for operations in the respective years respectively.
As a result of increase in the insurance fee, two branch operations have been operated in Kathmandu. Apart from this, a market administrator has been appointed in Bhairahawa and the sub-section has been opened in connection with the expansion of insurance business and also to benefit areas.
The main office of this company based in Nepal is called the Country Office, which is located in the First Floor-Sun Rise Biz Park, Charkal Dailbazar, Kathmandu, Nepal. Oriental insurance is the oldest life insurance company in the history of the company that deals with insurance in Nepal.
The main power of this company is that it has dedicated, work-driven, and skilled employees who have been working efficiently for the insurance business.
The skilled, experienced professional and technical knowledge of the employees appointed by the company’s central office provide excellent service to their customers. The main purpose of the company is Customer Per Service which is a tradition set by the company.
This company started from a simple startup and in 2073-74, the total insured deposit amount was Rs.7740 lakhs. At the end of 2073-74 fiscal year, 159 million has been invested. There is no concrete system to evaluate insurance companies in Nepal, but Oriental Insurance Company is a firmly owned company holding trustworthy of people of Nepal.
There is no joint investment in Oriental Insurance Company in Nepal and also shares no business. This is operating here as a foreign branch of the Oriental Insurance Company Limited, registered office in India. The main aim of the company is to contribute to the socio-economic development of the country by providing service to the people.
And to meet with increasing demand for insurance among the people. In addition, they are always striving for the effective management of the operations. Since the establishment of the company, it has been working to provide the right type of policy to all the necessary demand of the people. It was been making customer service even more standard and more customer-friendly.
It is making insurance business profitable, managing financial funds regularly and displacing investment funds in profitable areas. It has been developing claim management programs working in the field of claim reduction and working as a strong and dynamic non-life insurance company.
The insurance policies that it has been providing are fire insurance, aviation, vehicle, engineering, marine insurances, accidental insurance, business insurance, fidelity guarantee insurance, home insurance, insurance against theft and several other miscellaneous insurance.
13. Himalayan general insurance company:
Himalayan General Insurance Company Limited has been providing cost-effective services since it’s establishment. It is determined to provide effective insurance services. They are giving high quality service and giving proper return to their investors and giving employees of this company their opportunities for development.
This has started it’s operations as the non life insurance company from December,1993 by obtaining a license from Nepal Insurance Committee. For the first five years, the company has made agreement with sware blanch Asia, Singapore, the most reputed reinsurance company internationally.
In the past 21 years of this company, they have given the security of trust and stability to the clients, to their shareholders. They provide an exclusive service to the customers, personal service and technology centered networks. Their clients are satisfied with such valuable services and these services are available in insurance business.
It provides great and various types of insurance to it’s customer. Their clients are of all sections of the society, such as business institutions, development organizations and personal customers etc. Their value and recognition are based on providing susceptible and experienced services for the evaluation of risk and its neutralisation, empowering organizational groups to provide personal, strategic, and valuable services.
Complying with the zeal, enthusiasm, commitment and hard work and developing new technologies in the new way of service. Their committed employee practically provides services to every customer’s needs. Their employees provide accurate insurance advice, reasonable risk advise for business insurance, health insurance, travel insurance and personal insurance.
They have been able to provide their best services to the customers in collaboration with the reputable companies of the World Insurance Market. From 1993, they are providing clients with different types of insurance policies and proper services of insurance claims.
They are the leader in travel insurance and are working in front of the hydropower project in the current insurance market in Nepal. They provide their clients with the right policies with reasonable service at their home time. Their goal is to provide customers with excellent service. So they provide a high-efficiency service in the insurance claim.
The unique and specialized policies they have introduced in the market are numerous. Such as Full risk insurance is the policy that focuses on lessening or eliminating the risks of loss or damage on the products. It is a comprehensive insurance insurance deficit of risk-loss or damage.
This insurance protects the risk of loss or damage caused by unexpected and exacerbated accidents on assets such as laptops, cameras, ornaments, and property while transporting them from.one place to another. However, the geographical limits are specified in the policy.
Aviation insurance try to provide reliable risk protective and easily claiming service for each potential liability which may occur. They make arrangements for the security of each type of business flight and the security of the related infrastructure. They prepare a brief plan to analyze the risks of an internal flight to international and protect those risks.
This policy protects total risk of aircraft damage, damage from Strike, Malicious Work, Terrorism, War etc. They also cover the legal liability for passengers and cargo, flight staff accident, Pilot licenses damage damage and bear Third party liability. Banker’s indemnity insurance is specifically targeted towards the Commerce and Development Bank.
This insurance protects the damage caused by fraudulent in the bank premises and transporting and the damage caused by non-loyal employees to the bank. Business Machine Insurance protects all types of electrical appliances, the accidents that may happen in the fixed office premises. Burglary insurance protects the risks of theft, robbery, and burglary.
This type of incidents can happen anywhere anytime and full protection cannot be ensured all the time. So whenever these type of incidents occur, this insurance policy cover all the damage and the loss. Engineering insurance policy protects the risk of unexpected and accidental damage of the equipment used during construction.
It also covers the damage or loss of machinery used in the construction, in the industries etc. Recently, this company has secured the risk of more than ten hydropower projects in Nepal. That means the customers of this company are producing 165.50 megawatts of electricity.
There is no question of not giving employees the responsibility to keep the money in cash and the property with trust. However, if the employee does dishonest and fraudulent, this loyalty insurance protects the risk of harm or damage and help cover the investment.
Fire insurance cover the risk of damage caused by fire, earthquake, hurricane, wind, storm, floods, or damage to computers and accessories. This plan covers the risk caused by Terrorism, strike, disadvantage of malicious work, explosion, airport, Terrorism etc.
Communal hospital income insurance provides the expenses that are required when the insured patient is admitted in the hospital for his operation, surgery or any other medical expenditure.
Home is the safest place for everyone. It is full of emotions and assets that are very important to us. These properties and our home can be damaged by fire, current, robbery, any other expense burden etc. The home insurance is the one which provides the protection and security against these threats.
If any of these accidents happen and your house suffer from the damage or the loss. This insurance policy cover all those expenses. There is a lot of potential damage during your cargo. There are potential risks that can be caused during transportation of your goods by accidents, water or fire. Even the distributor may misplace the goods, or the goods may be damaged by theft or burglary.
This cargo insurance preserves the entire risk of your goods delivered. Cargo insurance protects the sea cargo or cargo from the airplane. Communal medicine treatment insurance covers the specified expenses in the policy for the insured patients who have suffered from any sickness, accidents or injuries.
The expenses that it covers are Doctor and expert fee, Medicines related to treatment, X-ray, ECG, Pathology Taste, Physiotherapy, Acquisition Expense etc. Most businesses will have high risk of cash whether they are deposited in bank or on a daily basis to be paid for cash or at the organization’s premises.
Cash insurances are designed specifically for the purpose of protecting these risks on cash. Motor vehicle insurance covers the risk of any damage to your or third party vehicle, the damage or accidents caused by your vehicle, or any deaths happened by your vehicle.
Motor insurance is a very important part of it’s business. This insurance has occupied one-third of all businesses. Himalayan General Insurance Co. Ltd in the fiscal year 2013/14, has paid the total amount of Rs. 42,415,6 98 in 847 motor claims.
From a personalized motorcycle to entire company’s vehicles, they provide appropriate and comprehensive insurance. Motorcycles, private vehicles, commercial vehicles, vehicles used in agriculture and construction areas are protected by this plan if the losses happen due to the causes like Fire & Lighting, Exterior accident, Externally occurring explosives, Theft or Bomber, damage from the Divine Outbreak, Strike, Malicious Work and Terrorism.
Himalayan General Insurance Company provides you sole and reliable protection while you travel in any of the countries of the world. While traveling abroad, if you are suddenly, unexpectedly ill or injured, the Himalayan General Insurance Company. Ltd., will provide you with the best protection as possible. Special Assistant is the UK-based Office raises claim for the Himalayan General Insurance Co. Ltd.
It provides effective health care every 24 hours in the world. This insurance provides the benefits in cases of personal accident, medical and sudden treatment costs, benefits of the hospital, if the bags are lost, in loss of the passport, personal liability, in flight delay and abduction.
Agricultural crop and livestock insurance provide financial relief to in farmers during their various losses due to various reasons. The following insurances can be done under this: Livestock insurance, bird insurance, crop insurance and fish insurance.
In livestock insurance, the insuring items are animal milk, cattle, bulls, yak, sheep, goat, goats and the animals used for wollen products. The policy pays the clients if animals died of various kinds of diseases, accident and natural disasters etc. Under the bird insurance, the hens, chickens and ducks are insured which are breeded for meat and eggs.
A 90 percent claim of the insured amount is paid on the right of death due to the harm caused by the disease, due to accident, flooding, drowning, flood or debris, storm, etc. Under the crop insurance, insurance for paddy farming, vegetable farming, potato farming, and fruit farming is insured for private and business purposes. Under fish insurance, fish is insured for the meat and eggs production.
14. United insurance company:
United Insurance Co. Limited is an ISO 9001:2000 certified insurance company of Nepal which has started functioning from December 1, 1993 (Mangsir 16, 2050). It has obtained the permission from the insurance committee to operate as the insurance company. The company is promoted by leading industrialists and reputed trading and commercial industries of Nepal.
The Authorised Capital of the Company is Rs. 50 crores. The goal of the company is to contribute to the development of the National Economy by ensuring immediate insurance services for non-life insurance.
It’s mission is to provide the appropriate insurance at the appropriate price according to the needs of customer groups in all possible ways. And to introduce new products in the market according to the international standard. The company has extended it’s branches all over the country. It’s main corporate office is located at thapathali, Kathmandu.
It’s branches are at durbar marga, Baudhha, bhaktapur, lalitpur, new road, banepa. Outside Kathmandu valley, the branches are at hetauda, Birgunj, Pokhara, sarlahi, janakpur, lahan, biratnagar, birtamod, itahari, achham, dang, charikot, dhangadi, nepalgunj, butwal, bhairawa, narayangadh, arghakhanchi, surkhet, beshishahar, khandbari, Bajura and Beni.
The insurance policies that it gives to it’s customers are fire, home, vehicle, marine, engineering insurances. The micro insurance that it provides include the insurance for animals, birds, crops, fruits, potato agriculture, vegetables, mushrooms, beea, ostrich. It also provide the micro households, health and personal insurances.
15. Sun Life insurance company:
Sun Nepal Life Insurance Company Limited is registered under the Company Act 2063. It has obtained it’s permission to operate as life insuring company from insurance committee on 2074.4.18. It is a fast growing life insurance company which has managed to make it’s name as one of the leading and trustworthy Insurance provider in the country in a very short span of time.
The capital structure of the company is 200 Crores. Out of which 140 Crores is already paid from the promoters. The aim of this company is to provide the safety and security of education and prosperity to all. It has been providing the best of best services to it’s customers according to their needs and capability and regardless of any geographical limitations.
Therefore, it has opened it’s branches of 20 and 55 sub branches. The company has the excellent skilled team of professional who are dedicated to obtain the goal of the company. They understand the requirements of the clients, provide them with the suitable advice regarding the accurate insurance plan.
The company has been promoted by industrialists, bankers, academicians and professionals like chartered accountants, lawyers etc. The needs of the society has been changing constantly. Therefore, the traditional plans and products may not be useful. The company is precisely doing the same, it has been understanding the changing needs of the society.
Thus, introducing new modern technology friendly insurance policies. It has given the financial security to clients, adopt policies and procedures to ensure high standards of corporate governance. And the operation has been made as transparent as possible to maintain the vigilance in communicating openly with regulators.
Resulting into a company of choice for insurance and other financial products maintaining superior financial strength. The new innovative product that it has begun is just pay RS.5 per day to get the benefits of ten lakhs. In 18 Critical and chronic diseases, Treatment cost of 5 lakhs plus 5 lakhs Term Insurance is paid to the clients after the maturation of the term.
Dhana Laxmi jeevan beema is a Limited Payment and Money-back plan for limited term of years. The Policy term is either 10, 14 or 18 years which the client can choose according to their preference. The Term Assurance Products is the policy for all individual where the risk of life is covered for minimum of 5 years to 25 years.
However, the policy don’t share any profits. The Group Term Assurance is the policy for Group in an organization with minimum of 25 members. However the Policy can be issued for the group containing below 25 members but not less than 10 members. But extra premium have to be paid for the purpose. The span of the policy is for 1 year which can be renewed after end of the policy.
You are recommended to see also:
- Name list of life insurance companies in Nepal
- name list of non life insurance companies in Nepal
- Name list of health insurance companies in Nepal
- Banking in Nepal: History of Banking System in Nepal
Name List of All the Insurance Companies in Nepal
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