Himalayan Life Offers Up to 100% Discount on Renewal of Expired Policies

Kathmandu — Himalayan Life Insurance Company Limited has announced a special discount scheme on the renewal of expired life insurance policies, including those issued by the former Prime Life, Union Life, and Gurans Life Insurance.

According to the company, the scheme has come into effect from Ashar 8 (June 22) and will remain valid until Ashar 22 (July 6). During this period, customers can receive up to 100 percent discount on the late fee while renewing lapsed insurance policies.

The company stated that insurance policies that expired up to 5 years ago are eligible for a full 100 percent waiver on late fees, while those expired more than 5 years ago will receive a 60 percent discount on the penalty amount.

This facility can be availed only once during the insurance term. However, the company has clarified that if policies renewed under this scheme are surrendered within 2 years, the previously waived fee will be deducted from the surrender value.