Policyholders of Himalayan Life Insurance Can Now Take Loans up to One Lakh Online

Kathmandu — Policyholders of Himalayan Life Insurance Limited can now apply for and receive loans of up to NPR 100,000 online. This service has been introduced in collaboration with the Khalti app with the aim of providing easier access to loans for the company’s policyholders.

Policyholders who have purchased insurance from the company can apply online for a loan if they are eligible under their insurance policy. After submitting the online application, the company will provide the loan.

According to the directive issued by Nepal’s insurance regulatory body, the Nepal Insurance Authority, policyholders are eligible to take a loan after completing three years of their insurance policy.

Since the company has enabled policy loans through the Khalti app, policyholders no longer need to visit the company’s office to take a loan of up to NPR 100,000. They can receive the loan from anywhere.

To take a policy loan, policyholders must first go to the HLI Digital Loan option in the Khalti app. They must then enter their policy number in the field provided. After that, they can apply for a loan within the limit of NPR 100,000. Once they verify using the OTP, the requested policy loan will be credited to their Khalti wallet/account.

The company has stated that to receive the online policy loan facility, the KYC details and mobile number used when purchasing the insurance and when opening the Khalti app must match; otherwise, the loan will not be granted.

Chief Executive Officer Kapil Kumar Dahal urged all policyholders to make maximum use of this facility, which has been introduced to provide quick and convenient access to policy loans. The company also stated that it plans to expand such services in the future after reviewing the effectiveness of this online loan facility.