New Bonus Rates Announced by Six Life Insurance Companies in Nepal

Kathmandu – Six out of the 14 life insurance companies operating in Nepal have announced their bonus rates for the fiscal year 2080/81. The companies have released these rates for various insurance policies based on their financial evaluation and actuarial valuation of liabilities. These newly announced rates will be applicable to policyholders accordingly.

As of now, Nepal Life Insurance, SuryaJyoti Life Insurance, Citizen Life Insurance, IME Life Insurance, Sanima Reliance Life Insurance, and MetLife have disclosed their new bonus rates. The remaining nine life insurance companies are yet to announce their rates.

The bonus rates have been determined by assessing the financial performance of the previous fiscal year and conducting an actuarial valuation. Once approved by the Nepal Insurance Authority, these rates will be applicable to various claims, including death claims, full or partial maturity settlements, surrender value claims, paid-up value claims, and active insurance policies. These rates will remain in effect until the next actuarial valuation is conducted.

Nepal Life Insurance
Nepal Life Insurance has set new bonus rates ranging from NPR 60 to NPR 82 per thousand rupees, depending on the policy term. These rates apply to several insurance plans, including Surakshit Jeevan, Ketaketi Sunaulo Bhawishya policies, and Sikshya Jeevan Beema policies. Additionally, the company has introduced different rates for its various insurance schemes.

SuryaJyoti Life Insurance
SuryaJyoti Life Insurance has determined its bonus rates based on its actuarial valuation report, with rates ranging from NPR 40 to NPR 95 per thousand rupees. These rates apply to Sawadhik Jeevan endowment and lifetime insurance policies, as well as advance payment insurance plans.

Citizen Life Insurance
Citizen Life Insurance has announced bonus rates between NPR 25 and NPR 80 per thousand rupees for different insurance policies. The rates are applicable to advance payment regular life policies, annual advance payment policies, and Bal Bhabishya plans.

IME Life Insurance
IME Life Insurance has published its new bonus rates, which range from NPR 30 to NPR 80 per thousand rupees. These rates apply to various policies, including limited-term payment insurance and child endowment insurance plans.

Sanima Reliance Life Insurance

Sanima Reliance Life Insurance has set its bonus rates between NPR 19 and NPR 70 per thousand rupees. These rates will be applied to policies such as regular term life insurance and limited-payment life insurance policies.

MetLife Insurance
MetLife has also revealed its bonus rates, ranging from NPR 45 to NPR 75 per thousand rupees. The company has set these rates for multiple policies, including its children education protection plan and various life insurance schemes.