Sun Nepal Life Rampur Branch Pays NPR 2 Million Insurance Claim

26th December 2025, Kathmandu

In a notable demonstration of the social security provided by life insurance, Sun Nepal Life Insurance Company Limited, through its Rampur branch, has successfully settled a death insurance claim amounting to 2 million rupees. The payment was made following the untimely demise of Hum Bahadur BK, a resident of Rampur Municipality Ward Number 5.

Sun Nepal Insurance Claim

This settlement highlights the critical role that insurance plays in mitigating financial risks associated with loans and credit facilities in the Nepalese economy. The transaction was finalized during a formal ceremony in Rampur, where the funds were handed over to the concerned parties in the presence of local government officials and representatives from the cooperative sector.

CHRONOLOGY OF THE INSURANCE CLAIM AND LOAN PROTECTION

The insurance claim originated from a Suraksha Term Life Insurance policy, which had been taken out to secure a loan. Hum Bahadur Bik had obtained a credit facility of 2 million rupees through the Suraksha Savings and Credit Cooperative Institution. To protect the cooperative from the risk of default in the event of the borrower’s death, the loan was insured with Sun Nepal Life Insurance. Following the unfortunate passing of the borrower, the insurance company fulfilled its contractual obligation by paying the full loan amount of 2 million rupees directly to the cooperative institution. This payment ensures that the debt is settled and does not become a financial burden on the surviving family members of the deceased.

ADDITIONAL SUPPORT PROVIDED TO THE BEREAVED FAMILY

In addition to the primary claim payment of 2 million rupees made to the cooperative, Sun Nepal Life Insurance also provided a sum of 10,000 rupees to the family for funeral expenses. This amount was personally handed over to Radha Bik, the wife of the late Hum Bahadur Bik. While the larger sum went toward clearing the outstanding debt, the funeral expense grant is designed to provide immediate relief for the cultural and ritual costs associated with the passing of a loved one. The company emphasized that such provisions are part of their commitment to being a companion to citizens during their most difficult times.

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THE FORMAL HANDOVER CEREMONY AND NOTABLE ATTENDEES

The official handover of the insurance cheque was conducted by the Chief Executive Officer of Sun Nepal Life Insurance, Mr. Raj Kumar Aryal. The ceremony was witnessed by several prominent figures, including the Ward Chairperson of Rampur Municipality Ward Number 5, Durga Prasad Pokharel. From the insurance company, the event was attended by Chief Market Officer Ganesh Chaulagain and other regional staff. Representing the Suraksha Savings and Credit Cooperative were Advisor Lekhnath Regmi, Chairperson Manju Bhatt, and Manager Indraraj Sigdel. The presence of these high-level representatives underscores the importance that both the insurance and cooperative sectors place on timely claim settlements.

STRATEGIC ROLE OF INSURANCE IN MODERN RISK MANAGEMENT

During the program, CEO Raj Kumar Aryal addressed the gathering and spoke about the broader significance of life insurance. He stated that insurance should be viewed as a reliable companion in times of hardship and an essential tool for protecting personal and business assets. He noted that insurance not only reduces individual risks but also contributes to women’s empowerment by providing financial security to widows and families. According to the CEO, approximately 4,000 cooperative institutions across Nepal are currently affiliated with Sun Nepal Life Insurance. This extensive network allows the company to reach rural populations and provide credit life insurance that protects both the lenders and the borrowers.

IMPACT ON THE COOPERATIVE AND MICROFINANCE SECTOR

The successful settlement of this 2 million rupee claim is a positive signal for the cooperative sector in Nepal, which has recently faced challenges with loan recovery. When cooperatives ensure that their loans are backed by term life insurance policies, they safeguard their capital and ensure the sustainability of their lending operations. For the borrower, insurance acts as a safety net that prevents their heirs from losing ancestral property or falling into a cycle of debt. As seen in the case of the Rampur branch, the synergy between insurance companies and cooperatives is a vital component of the rural financial ecosystem in Nepal.

CONCLUSION AND FUTURE COMMITMENT TO CLAIMANTS

In conclusion, the payment of the 2 million rupee death claim by Sun Nepal Life Insurance in Rampur is a clear example of how insurance serves the public interest. By settling the debt of the deceased borrower, the company has protected a cooperative institution and provided peace of mind to a grieving family. As Sun Nepal Life Insurance continues to expand its reach through thousands of affiliated cooperatives, it remains focused on making insurance accessible and reliable for all Nepalese citizens. The company reiterated its commitment to quick and hassle-free claim processing to maintain public trust in the life insurance industry.

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