12th June 2025, Kathmandu
Liberty Micro Life Insurance has teamed up with multiple cooperatives in Bagmati Province. The company will now provide low-cost micro life insurance to thousands of borrowers and members. The move aims to protect both individuals and the cooperatives’ investments.
Liberty Micro Life Partners Bagmati
New Insurance Deals Signed
Liberty Micro Life recently signed agreements with several cooperatives across the region. These include:
Exotic Saving and Credit Cooperative, Kalopul-5
Paleswan Saving and Credit Cooperative, Teku
Jai Ma Ajima Saving and Credit Cooperative, Hadigaun
Click Saving and Credit Cooperative, Ratopul
Pratibha Multipurpose Cooperative, Lalitpur
Uttarbahini Multipurpose Cooperative, Gokarneshwor
Jyoti Mirmire Samuhik Saving and Credit Cooperative, Panauti
All seven cooperatives agreed to enroll their borrowers and members in Liberty’s insurance plan.
Focus On Low-Income Groups
The main goal is to support low-income groups. Many of these people are outside the formal insurance system. Liberty Micro Life aims to change that. The company offers simple, affordable coverage that helps during emergencies. These plans also protect the cooperatives from financial loss due to unpaid loans caused by unfortunate events.
The insurance will offer peace of mind. In case of accidental death or disability, the coverage provides financial relief to families. It also secures the loans cooperatives provide to members.
Services Now Fully Online
The company has made its services accessible through a fully online platform. This step ensures faster and easier access for all members. Cooperative representatives praised this feature during the agreement events.
They said online processing is quick and user-friendly. It removes paperwork and saves time for both cooperatives and their members.
Nationwide Awareness Campaign
Liberty Micro Life is also running awareness programs across Nepal. The focus is to educate cooperative members about life insurance. Many people, especially those with low income, are unaware of the benefits.
Currently, about 60% of Nepalese lack insurance. Liberty wants to change that. It is calling on local governments, cooperatives, and microfinance institutions to join the movement. The goal is to make insurance available to everyone.
According to company officials, more cooperatives have shown interest in the program. Liberty believes awareness and collaboration will lead to greater coverage.
Liberty’s Long-Term Vision
The company is working to become a key player in Nepal’s micro-insurance market. It has built services tailored for the needs of financially vulnerable people. Its vision includes reaching rural communities and supporting social protection through insurance.
By targeting the unserved, Liberty also helps the broader economy. Insured people are more financially stable. That security reduces pressure on government aid programs.
Strong Cooperative Partnerships
The recent agreements were completed in the presence of Liberty officials and cooperative leaders. These partnerships show strong trust between both parties. Cooperative heads welcomed the collaboration.
They highlighted that such insurance protects their institutions from loan defaults due to tragic events. They also emphasized the value for their members, who often lack a safety net.
These agreements mark a new step in combining community-level finance with social protection tools.
Encouraging Other Institutions To Join
After the agreement, Liberty Micro Life encouraged other cooperatives and financial institutions to explore this service. Representatives said that the service is:
Affordable
Online-based
Easy to understand
Designed for low-income groups
They hope that more institutions will follow the example set in Bagmati Province.
Conclusion
Liberty Micro Life Insurance is helping bring change to Nepal’s insurance landscape. Through its partnerships with cooperatives, it is making insurance more accessible. It is also working to close the gap for the 60% of Nepalese who still don’t have coverage.
With its online model, low pricing, and focus on awareness, Liberty is expanding fast. It now invites more cooperatives, local governments, and organizations to work together. The goal is clear—ensure financial protection for all.
For more: Liberty Micro Life Partners Bagmati