Nepal Life Insurance Offers Late Fee Discount on Policy Renewals

Kathmandu – Nepal Life Insurance Company Limited has announced a special discount on late fees for the renewal of expired insurance policies, effective from Poush 1 to Magh 15.

According to a notice issued by the company, the facility applies to insurance policies that have remained expired for more than 180 days due to non-payment of renewal premiums. Eligible policyholders renewing their policies within the specified period will receive a discount on the applicable late fee.

As per the company, a 20 percent discount will be provided for policies expired for more than five years, a 25 percent discount for policies expired for more than three years and up to five years, and up to a 30 percent discount on late fees for policies expired for up to three years.

Nepal Life Insurance has clarified that this facility can be availed only once during the insurance period. Additionally, if a policy renewed under this scheme is surrendered within one year, the previously discounted late fee amount will be deducted.