Asian Life Insurance Offers Up to 100% Discount on Interest for Expired Policy Renewals

Kathmandu – In a bid to encourage policyholders to renew their lapsed insurance plans, Asian Life Insurance Company Limited has announced a special discount scheme, offering up to 100 percent waiver on the interest charged for expired policy renewals.

The company stated that this offer is valid for insurance policies that had been fully paid by the end of Chaitra (mid-April) month but remained unpaid for more than six months. Eligible policyholders can renew their expired policies under the discounted scheme from today (April 25) until Ashar 20 (August 5).

Under the scheme, the company will provide a 100 percent interest waiver on policies with more than 10 years of remaining maturity. Similarly, a 50 percent discount will be applied to policies with 5 to less than 10 years of maturity left, and a 25 percent discount will be offered on those with 2 to less than 5 years of remaining maturity.

However, the company clarified that policies with less than 2 years of remaining maturity, and those who have already availed a previous discount facility, will not be eligible for this scheme. Additionally, if a policy renewed under the 100 percent discount category is surrendered, the discount amount will be deducted from the surrender value.