MetLife Insurance Company Announces Bonus Rates for Fiscal Year 2080/81

Kathmandu – Met Life Insurance Company has unveiled its new bonus rates for the fiscal year 2080/81, effective for all insurance policies that will participate in profits according to the actuarial valuation. The newly announced bonus rates will apply to various life insurance plans, including advance payment plans, term life insurance, and education protection insurance.

The bonus rates are calculated per thousand insured amounts, with different rates for various Insurance plans. Under the advance payment insurance plan (Three Payment Plan), policyholders will receive a bonus ranging from Rs 45 to Rs 65, depending on the insurance period. Specifically, policies with an insurance period of 1 to 15 years will receive a bonus of Rs 45, while policies with a period of 16 to 20 years will receive Rs 55. For policies with an insurance period of 21 years or more, the bonus will increase to Rs 65.

Similarly, the Advance Payment Plan (Midterm Growth Plan) will provide a bonus of Rs 45 for policies held for 1 to 15 years, Rs 50 for policies held for 16 to 20 years, and Rs 55 for policies held for 21 years or more.

For Endowment Plan, the company has set a maximum bonus rate of Rs 55 for policies of 1 to 15 years, Rs 65 for policies of 16 to 20 years, and Rs 75 for policies of 21 years or more.

In the Education Protection Insurance plan, Met Life will provide a maximum bonus of Rs 75. The bonus for policies with an insurance period of 1 to 15 years will be Rs 55, for 16 to 20 years it will be Rs 65, and for policies of 21 years or more, the bonus will be Rs 75.

These new bonus rates will be applicable for death claims, surrender value claims, paid-up value claims, term payment claims, and ongoing insurance policies. Met Life Insurance also clarified that these rates will remain in effect until a new bonus rate is approved by the Nepal Insurance Authority based on another actuarial evaluation.