Asian Life Insurance Nepal, What everyone must know?

Asian life insurance Nepal is one of the oldest and leading insurance companies established on 27 February 2008 (Falgun 15, 2064) after obtaining an operating license from Nepal Bima Samiti (Nepal Insurance Board).

Although the company’s authorized capital is Rs. 5 billion the paid capital is Rs. 2.01 billion and has made the government requirement in terms of paid-up capital for insurance companies in Nepal.

Only 30% of the company’s share has been held by the general public, while 70% is held by the promoters. The company has two major promoters which are popular financial institutions;

  • Mahalaxmi Development Bank Limited, Kathmandu
  • Guheshwori Merchant Banking & Finance Ltd., Lalitpur.

National life insurance has operated full-fledged branches in 36 districts an additional 90 sub-branches across the country. There is not any district in Nepal where national life has not presented yet.

What are the products of Asian Life insurance Nepal?

The company offers a wide range of products through a strong and diversified sales network as follows;

    • Nava Ratna
    • Dhan Sambriddhi (Limited Payment Anticipated Endowment Plan)
    • Asian Child Endowment (BAL UMANGA)
    • Asian Endowment Plan
    • Child Insurance
    • Pension Plan
    • Asian Limited Payment Endowment Plan (Jeevan Ratna)
    • Joint Life (Dampati Surachha Plus)
    • Saral Surachha (Term)
  3. Asian Endowment & Whole Life (SUKHI JIVAN)
    • Jivan Sanjivani

Most of the insurance companies in Nepal offer similar products, but Asian life insurance provides more benefits for each product than others.

Where has the Asian life has reinsured?

Every insurance company in the world reinsures itself with other insurance companies. If the insurance firm bank-craft and unable to pay the amount it owes to the insured, the reinsurance company will be responsible for the settlement of all the insurance policies in compliance with the arrangement between the policyholders and the insurance firms.

National life insurance has re-insured itself with three companies which are as follows;

  1. Hannover Rück SE,Hannover, German
  2. Scor SE, France
  3. Nepal Reinsurance, Nepal

What is the bonus rate of National life insurance?

National life insurance is one of the insurance companies in Nepal which provides a competitive bonus rate on the premium that has been assured. The current rate of the NLIC is;

  1. Fixed-term and group insurance
    • 5 to 15 years: Rs. 61 per thousand
    • 16 to 20 years: Rs. 61 per thousand
    • 21 to 25 years: Rs. 62 per thousand
    • Above 26yrs:  Rs. 80 per thousand
  2. In advance payment insurance (Money back plan)
    •  15 years: Rs. 60  per thousand
    • 20 years: Rs. 60 per thousand
    • 25 years: Rs. 61 per thousand
  3. Lifetime term insurance
    • 5 to 15 years: Rs. 61 per thousand
    • 16 to 20 years: Rs. 61 per thousand
    • 21 to 25 years: Rs. 62 per thousand
    • Above 26yrs:  Rs. 80 per thousand

What are the shareholder benefits of National life insurance?

In the fiscal year 2018/19, the company provided the 12% dividend and a 2.5% bonus share to the investors. It is also one of the insurance companies whose share value always performs very strongly in the market.

What is the commission rate of the National life insurance company for the agent?

It provides the commission to the agent or the agency base on the policies they have given to the organization. The bonus rate can influence the types of policies and terms of the insurance plan. However, as a national life insurance agent, you will have a commission until the end of every policy you have made.

Conclusion: National life insurance is the first insurance company in Nepal and has received the highest level of trust from the general public.

The company’s share rate is higher than the similar organization in Nepal to the insured and shares bonus also comparatively higher than the new insurance firm in the country. The company has reinsured with the most diversified international insurance firm in the world, so, it is safe to have an instance plan with this organization.

Best insurance companies in Nepal

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