Nepal Life Insurance Announces Up to 30 Percent Fee Waiver on Lapsed Policy Renewals
27th October 2026, Kathmandu
Nepal Life Insurance Company Limited has introduced a special late fee waiver scheme of up to 30 percent for policyholders whose life insurance policies have lapsed due to non-payment of renewal premiums.
Nepal Life Fee Waiver Announced
Renewal Campaign Details and Waiver Tier Structure
The late fee waiver scheme is designed to help policyholders reactivate lapsed policies across varying delay durations.
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- Campaign Validity Period: The limited-time revival offer is operational from Kartik 10, 2083 to Mangsir 24, 2083.
- Target Policyholder Eligibility: The waiver applies exclusively to insurance policies where renewal premium payments have been overdue for more than 180 days.
- Up to 3 Years Lapse Waiver: Policies remaining unpaid for up to 3 years qualify for a 30 percent discount on accrued late payment charges.
- 3 to 5 Years Lapse Waiver: Policies overdue for more than 3 years and up to 5 years receive a 25 percent late fee waiver.
- Above 5 Years Lapse Waiver: Policies overdue for more than 5 years receive a 20 percent discount on accumulated late fees.
- Applicability Scope: The discount applies strictly to late penalty fees and does not reduce the base overdue premium amounts.
Terms, Conditions, and Surrender Restrictions
Nepal Life Insurance Company Limited outlined specific regulatory conditions to govern policy reactivations under this campaign.
- One-Year Surrender Penalty Clause: If a policyholder surrenders a revived policy within one year of reinstatement under this scheme, the total waived late fee amount will be deducted from the surrender value.
- Single-Use Restriction: Policyholders who utilize this late fee waiver can only receive the benefit once per policy throughout its entire tenure.
- Customer Service Integration: Overdue policyholders can complete the policy reinstatement process across all physical branch outlets and digital payment portals of Nepal Life Insurance.
For More: Nepal Life Fee Waiver Announced
