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Insurance
in Nepal |
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Life Insurance Corporation
American Life Insurance Company
Nepal Life Insurance Company
Prudential
Insurance Company
Himalayan Gen. insurance
GPO Box 148
Durbar Marg, Kathmandu
Tel: 226634
Premier insurance
Sagarmatha Insurance Company
GPO Box 12211
Thapathali, Kathmandu
Tel: 240896
Nepal Insurance Co. Ltd.
GPO Box 3623
Kamaladi, Kathmandu
Tel: 221353
National Insurance Co. Ltd.
GPO Box 376
Tripureswor, Kathmandu
Tel: 221182
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News item 14-3-2007 |
The decision of three major
insurance companies
to lower their committed
returns on premium has
shattered the dream of
thousands of policy holders
of doubling their savings
through a 15 year insurance
policy. The latest rate of
return, which has sliced off Rs 33,000 worth of returns
in a 15-year policy
amounting to Rs 100,000 has
already been opposed
fiercely by insurance agents
who sold thousands of
polices with the promise of
doubling the returns in 15
years. Life Insurance
Corporation (Nepal),
American Life Insurance
Company (Alico) and Nepal
Life Insurance Company (NLIC)
that entered the Nepali
market over three years ago,
had promised a 6.5 percent
annual rate of return,
meaning that overall return
after 15 years of annual
investment would be doubled.
However, contrary to the
promise with which they
marketed their products,
companies have scaled down
the rate to as low as 2.5
percent, citing low return
on investment due to a
sluggish economy. Alico has
announced a bonus of 2.5
percent in case a client
chooses to withdraw the
policy, and will pay
additional 2.5 percent in
case they continue the
policy till maturity. LIC
Nepal has declared bonus of
4.3 percent for policy
lasting up to 15 years, 4.7
for policy of 20 years, 5.3
for policy of 25 years and
6.5 percent for policy
exceeding 25 years.
Likewise, NLIC has announced
bonus from 3.9 to 6.5
percent for life insurance
products of different
variations, said a senior
official at Insurance Board
(IB).
Other insurance news and
articles:
Rastriya Beema Sansthan
(Insurance company) asked to
innovate (25-2-2007)
Imperial Finance to
issue shares
(6-2-2007)
Insurance a basic need
car
vehicle insurance prices go up
best information
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