26th November 2022, Kathmandu
11 Life insurance companies have announced new bonus rates for the fiscal year 2077/78. After the insurance committee approved the actuarial valuation of these companies, these companies announced new bonus rates.
Eight more insurance companies are yet to announce the bonus rate for the financial year 2077/78. So far, Nepal Life, National Life, Jyoti Life, Met Life, Asian Life, Surya Life, Prime Life, Reliable Nepal Life, IME Life, Citizen Life Insurance, and Sun Nepal Life have announced new bonus rates.
What is the bonus rate of different companies?
Nepal Life Insurance Company
For the financial year 2077/78, the company will give its policyholders a maximum bonus rate of Rs 82.
Prime Life Insurance Company
For term life insurance, the bonus rate is Rs 35 for up to 9 years, Rs 40 for 10 to 14 years, Rs 45 for 15 to 19 years, Rs 50 for 20 to 24 years, and Rs 70 for 25 years and above.
Reliable Nepal Life Insurance Company
In Reliable Term Life Insurance Scheme, the bonus rate is Rs 50 for a period of 5 to 9 years, Rs 55 for a period of 10 to 14 years, Rs 62 for a period of 15 to 19 years, and Rs 75 for 20 years or more.
National Life Insurance Company
In term life insurance policies, for 0 to 9 years, 10 to 14 years, and 15 to 20 years, the bonus rate is Rs 64 each. For other periods it is Rs 70 for 21 to 25 years, Rs 85 for 26 to 29 years, and Rs 85 for 30 years and above. Also, the company will give a bonus rate of Rs.
Met Life Insurance (Nepal)
In term life insurance (endowment plan), the bonus rate has been fixed at 60 rupees for a period of 1 to 15 years, 70 rupees for a period of 16 to 20 years, and 80 rupees for 21 years or more.
IME Life Insurance Company
In term life insurance policies of the company up to 9 years, 30 rupees for 10 to 14 years, 35 rupees for 15 to 19 years, 48 rupees for 20 to 24 years, 63 rupees for 25 to 29 years, and 30 or more It has been fixed at 70 rupees per thousand.
Jyoti Life Insurance Company
Jyoti Life has announced a minimum premium of Rs 20 to Rs 75 in various insurance policies. In terms of term life insurance, the bonus rate has been fixed at Rs 43 for a period of up to 9 years, Rs 45 for a period of 10 to 14 years, Rs 50 for a period of 15 to 19 years, Rs 55 for a period of 20 to 24 years and Rs 75 for 25 years or more.
Asian Life Insurance Company
The company has fixed a bonus rate of 50 rupees for a period of 14 years, 55 rupees for a period of 15 to 19 years, 60 rupees for a period of 20 to 24 years, and 75 rupees for a period of 25 or more under the term and life insurance. The bonus rate for children’s and other term life insurance plans has been fixed at Rs 50 to Rs 60.
Surya Life Insurance Company
The company has fixed Rs 42 for 10 to 14 years and 15 to 19 years, Rs 52 for 20 to 24 years, and Rs 60 for 25 to 29 years in the company’s advance payment term life insurance policy. Term life insurance policy is Rs 40 for a term of 9 years, Rs 41 for a period of 10 to 14 years, Rs 45 for a term of 15 to 19 years, Rs 54 for a term of 20 to 24 years, Rs 60 for a period of 15 to 29 years and Rs 60 for a time of 30 years or more The bonus rate has been fixed up to 70 rupees for the above period.
Citizen Life
Citizen Life Insurance Company has fixed the bonus rate from 25 rupees to a maximum of 73 rupees in various policies.
In advance payment (temporary regular life insurance) bonus rate has been fixed at 44 rupees for 10 to 14 years, 49 rupees for 15 to 19 years, and 55 rupees for 20 to 24 years.
Sun Nepal Life
The company has fixed the bonus rate from a minimum of 20 rupees to a maximum of 75 rupees. The bonus for Sunlife term life insurance policy is Rs 30 for a term of up to 9 years, Rs 30 for a period of 10 to 14 years, Rs 35 for a term of 15 to 19 years, Rs 60 for a time of 20 to 24 years, and Rs 75 for 25 years or more.
