LIC Nepal’s new “Baal Unnati Life Insurance” plan announced, What are its features?

Kathmandu : Life Insurance Corporation (LIC) Nepal has announced the ‘Baal Unnati Jeevan Beema’ (Child Development Life Insurance) policy. The company has announced the “Bal Unnati Insurance policy” with 60 per thousand guaranteed addition, which automatically covers the risk of the proposer along with the children.

In this plan, the company provides accident benefits and permanent disability benefits in case of death of the proposed person, and 1 percent of the additional insurance will be paid as monthly income, and all other insurance charges will be waived and the insurance policy will remain the same and will continue.

During an event organized at the corporate office of LIC Nepal in Kathmandu, the current director and chief executive officer of the company Pranay Kumar, deputy executive director A. Datta, chief information technology officer Rohit Budiyal, company secretary Sudarshan Giri, head of marketing department Prakashbhakt Upadhayay, head of underwriting department Sabina Shrestha including other departmental heads and other employees jointly launched this policy on 18th of December, 2023 A.D.

Speaking at the inauguration program, the director and chief executive officer of the company, Pranay Kumar, clarified that this insurance plan is completely new from the perspective of Nepal and has been introduced in accordance with the guidelines of the Nepal Insurance Authority.