Surya Jyoti Life Insurance Offers Up to 35% Discount on Late Fees for Lapsed Policies

7 July 2024, Kathmandu

Surya Jyoti Life Insurance Company has announced an attractive offer for its policyholders with lapsed insurance policies.

The company is providing a 35 percent discount on late fees for renewing expired insurance policies until July 2, 2024.

This initiative aims to encourage policyholders to reinstate their policies and continue enjoying the benefits of life insurance coverage.

Originally, this discount facility was set to be available until July 5, 2024. Policyholders can renew their insurance policies by visiting the nearest branch office or conveniently paying the insurance fee through their mobile banking or online wallets.

Surya Jyoti Life Insurance clarified that the late fee discount is a one-time benefit during the insurance period.

Additionally, if a policy is surrendered within one year of reinstatement, the discount amount will be deducted from the surrender value.

The company also noted that this discount will not be applicable to policies maturing on or before July 5, 2025.

This limited-time offer reflects Surya Jyoti Life Insurance’s commitment to supporting their policyholders in maintaining continuous life insurance coverage and securing their financial future.

Policyholders are encouraged to take advantage of this discount and renew their lapsed policies promptly.

For further information, customers can contact their nearest Surya Jyoti Life Insurance branch or utilize the company’s mobile banking and online payment facilities.

About SuryaJyoti Life Insurance

SuryaJyoti Life Insurance emerged from Nepal’s first historic merger between Surya Life Insurance Co. Ltd. and Jyoti Life Insurance Co. Ltd, commencing joint operations on December 22, 2022. This merger has transformed SuryaJyoti Life into one of Nepal’s largest life insurers, significantly enhancing its capital base, total investments, life fund, branch outlets, agency network, and policyholder base. Surya Life, with over 15 years of successful operations, had aggressively expanded its distribution channels and market share, while Jyoti Life, despite only five years in the market, had rapidly established itself with unique product offerings and a robust operational foundation.

SuryaJyoti now boasts over 200 fully-fledged branches providing a comprehensive range of services to policyholders and agents. The company, ISO 9001:2015 certified, adheres to international best practices for prudent management and offers unique products, including extensive Critical Illness Coverage for up to Rs. 5 million, covering 35 critical illnesses. With reinsurance partners like NepalRe, Himalayan Re, and HannoverRe, SuryaJyoti effectively diversifies risk and secures strong reinsurance support.

The company’s operations are underpinned by SiddhiLife software, complemented by various peripheral services such as a feature-rich mobile app, comprehensive reporting tools, online payment integrations, and an AI-powered chatbot for query management. SuryaJyoti also maintains a comprehensive call center service to enhance customer engagement. Its diverse list of promoters from manufacturing, trading, and financial sectors, along with institutions with strong brand value, further solidifies the company’s robust foundation and market presence.

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