Nepal Life Insurance Announces Special Waiver on Late Fees to Mark 25th Anniversary

Nepal Life Insurance has announced a plan to offer up to a 100 percent waiver on late fees to reactivate overdue insurance policies in celebration of its 25th anniversary. This initiative, effective from Baishakh 7 to Jestha 5, aims to strengthen the financial security of policyholders. The company noted this is the first time it has introduced such a substantial waiver. Currently, Nepal Life holds about 30 percent of the market share.

Kathmandu, Baishakh 8 – On the occasion of its 25th anniversary, Nepal Life Insurance has unveiled a special discount plan on late fees to revive dormant insurance policies. In light of the current economic challenges causing delays in policy renewals, the company has introduced an easy renewal payment mechanism to provide financial protection to policyholders reactivating their policies.

This scheme, effective from Baishakh 7 and continuing until Jestha 5, allows up to a 100 percent waiver on late payment charges when overdue policies are reactivated under the 2082/83 renewal program. According to the company, “This is the first time such a significant special discount has been introduced on the silver jubilee occasion.” It added, “The 30-day facility is available to all policyholders with overdue policies.” Nepal Life, being the country’s leading life insurance company, currently commands approximately 30 percent of the market share.