Eight Life Insurance Companies Announce Bonus Rates for FY 2080/81

Kathmandu – Out of the 14 life insurance companies currently operating in Nepal, eight have announced bonus rates for the fiscal year 2080/81. These companies have disclosed policyholder bonuses based on actuarial valuation and financial performance, following approval from the Nepal Insurance Authority. The bonus rates apply to a wide range of life insurance policies and are determined per thousand rupees of the sum assured.

The companies that have announced their bonus rates so far include Nepal Life Insurance, Suryajyoti Life Insurance, Citizen Life Insurance, IME Life Insurance, Sanima Reliance Life Insurance, MetLife, Reliable Nepal Life Insurance, and LIC Nepal. The remaining six companies are yet to declare their bonus rates.

These bonuses will apply to death claims, surrender value, paid-up value, maturity claims, and ongoing policies. The rates will remain in effect until the next actuarial valuation is approved by the authority.

1. Nepal Life Insurance

Nepal Life has offered bonuses ranging from Rs 60 to Rs 82 per thousand in term life insurance plans like Suraksha Jeevan, Jeevan Jyoti, Gramin Term Life, and others. Jeevan Samunnat Beema Yojana will offer Rs 56 to Rs 70, while Sunaulo Bhabisaya Jeevan Beema (Options 1 & 2) offers Rs 60 to Rs 65. Advance payment policies carry a uniform bonus of Rs 56, and Jeevan Sarathi Yojana ranges from Rs 62 to Rs 85.

2. Suryajyoti Life Insurance

Suryajyoti announced bonuses between Rs 40 to Rs 75 for term and whole life policies. Advance payment plans offer Rs 42 to Rs 60, while Chaurasi Puja policies carry Rs 45 to Rs 90. The company became the first to complete a successful merger in the insurance sector and remains compliant with the authority’s guidelines.

3. Citizen Life Insurance

Citizen Life’s bonuses vary by policy and term. Advance payment (regular) policies range from Rs 44 to Rs 55, while annual advance payment policies are set between Rs 25 to Rs 28. Citizen Shubharambha Yojana offers Rs 39 to Rs 75. Term policies offer Rs 38 to Rs 73, and child policies like Bal Bhavishya Yojana and Bal Bhavishya Plus offer up to Rs 67. Jeevan Sarathi Yojana offers Rs 38 to Rs 80.

4. IME Life Insurance

IME Life is offering Rs 32 to Rs 80 per thousand based on plan and term. Group term plans offer up to Rs 75, while term and lifetime plans go up to Rs 80. Advance payment plans such as Kalpadhan offer Rs 32 to Rs 63. Child-specific plans like Bal Umang and Bal Kiran range from Rs 30 to Rs 65 and Rs 30 to Rs 60, respectively. The Dhan Sarita plan offers a fixed Rs 22.

5. Sanima Reliance Life Insurance

Sanima Reliance has announced bonuses ranging from Rs 19 to Rs 70. Regular term plans offer Rs 35 to Rs 70, while triple and couple term plans offer Rs 20 to Rs 30. Advance payment plans range from Rs 32 to Rs 42, and annual advance payment plans offer Rs 19 to Rs 21. The 15-year and 20-year plans offer Rs 41 and Rs 45 respectively. The group term policy offers Rs 19. Child term plans range from Rs 19 to Rs 34.

6. MetLife

MetLife’s three-payment advance plans offer Rs 45 to Rs 65 depending on term duration. Midterm Growth Plans range from Rs 45 to Rs 55. Term life insurance bonuses vary from Rs 55 to Rs 75. Education Protection Insurance also offers Rs 55 to Rs 75 depending on term.

7. Reliable Nepal Life Insurance

Reliable Nepal offers Rs 50 to Rs 75 in term policies. Sulaav Jeevan and Sulav Bal Jeevan Plus plans range from Rs 25 to Rs 41. Sajilo Life offers Rs 25 to Rs 26, and short-term policies offer Rs 31 to Rs 35. Term and whole life policies offer Rs 30 to Rs 50, and advance payment plans offer Rs 50 to Rs 55. Samunnati Jeevan Bima offers Rs 20 to Rs 23, and the Higher Education Plan offers Rs 60 to Rs 65.

8. LIC Nepal

LIC Nepal has set bonus rates of Rs 51 to Rs 53 for Jeevan, Jeevan Sathi, and Jeevan Shree policies. Term policies offer Rs 51 to Rs 65, and Life Ananda ranges from Rs 50 to Rs 60. Child plans such as Baal Mamata and Baal Sneha policies offer bonuses up to Rs 64. Dhan Bristi, Dhan Firta, and Jeevan Tarang plans have bonuses between Rs 50 to Rs 60. The Short Term Insurance Plan offers a flat Rs 41 across all terms.