Our list of Life Insurance company in Nepal has seven (7) companies. There are two types of Insurance companies in Nepal based on the working principles – Life Insurance companies and Non-Life insurance companies. Life Insurance companies have a focus on the lives of people (or an individual) where there is a contract between an insurance company (i.e. insurer or assurer) and insurance policyholder (i.e. individual). The insurer promises to pay a designated beneficiary a sum of money (the benefit) in exchange for a premium. Payments are usually triggered at the death of an insured person or on a contract basis – that may include terminal illness or critical illness or completion of time duration. On the premium part, a policyholder can pay the premium on a certain time duration i.e. monthly, quarterly, semi-annually or annually. We will cover non-life insurance on the next blog article.
Life-based contracts tend to fall into two major categories – Protection policies and Investment policies. Protection policies are designed to provide a benefit, typically a lump sum payment, in the event of a specified occurrence. A common form of a protection policy design is term insurance. Whereas, the main objective of Investment policies is to facilitate the growth of capital by regular or single premiums. Common forms are whole life, universal life, etc.
National Life Insurance Company Limited (formerly known as National Life & General Insurance Co. Ltd.) was incorporated in 1988 A.D. under Nepal Company Act 1964 and the insurance Act 1968 of Nepal with the prime objective to meet growing insurance requirements of the country. For more than two decades, National Life has built a reputation as a company that believes in the highest level of customer’s service. National Life has reinsurance support and back up of world’s leading Reinsurance company Hannover Re, Germany. Thus, its clients are assured of insurance covers which are unique for its security and flexibility.
Its products are Endowment Assurance Plan, Children’s Plans, Money Back Plans, Retirement Plan, Whole Life Plans and many more.
It is currently traded in Nepal Stock Exchange with the symbol of NLICL.
Address: Lazimpat, Kathmandu, Nepal
Tel: 977-1-4414799, 4416556, 4414803, 4435636
NepalLife, established under the Company Act 2053 and Insurance Act 2049 as a public limited company on 2058/01/21 (04/05/2001). NepalLife is the foremost life insurance company established by private investors. The promoters of the company are a group of well-known businessmen and business houses of Nepal. Within the sixteen years of operation, the Company has set up an excellent business record and has a strong financial position. The company has insured itself with well-known reinsurance company “Hannover Re Life Reinsurance Company”, Germany.
Its products are Endowment, Anticipated, Whole, and Term life insurance policies.
It is currently traded in Nepal Stock Exchange with the symbol of NLIC.
Address: 2nd Floor, Heritage Plaza-1, Kamaladi, Kathmandu, Nepal
Tel: 01-4169082, 01-4169083, 01-4169085
If you’re new to Nepal Stock Exchange, please read our article on Beginner’s guide to Nepal Stock Exchange (NEPSE)
Life Insurance Corporation Nepal Limited (shortly called as L.I.C. Nepal) is one of the largest capitalized Insurance companies of Nepal. The journey of L.I.C. Nepal had its genesis in 2000 when global insurance behemoth, Life Insurance Corporation of India, joined hands with Vishal Group, a dominant player of Nepal. Life Insurance Corporation (Nepal) Limited having Registration No. 765-057/58, was incorporated under the Companies Act, 2053, on 27.12.2000. It has got the life insurance license from Insurance Board of Nepal (Beema Samiti) on 07.08.2001 and started operations from 01.09.2001.
Its products are Endownment plan, Money back plans, Jeevan Astha plan, Child plan, Jeevan Sathi, and many more.
It is currently traded in Nepal Stock Exchange with the symbol of LICN.
Address: Putalisadak, Kathmandu, Nepal
Tel: 01-4012613, 01-4012614
Asian Life Insurance has got an operating license as per Insurance Act 2049 from Beema Samiti (Insurance Regulatory Authority of Nepal)on 27th February 2008 ( Falgun 15, 2064) and started functioning on 3rd April 2008 (Chaitra 21, 2064). According to the company, Asian life has been dedicated to maintaining the highest level of professional integrity, regulatory compliance and corporate governance. The company has focused on policyholder’s satisfaction.
Its products are Money Back, Endowment, Whole Life, Joint Life, Term Life insurance, etc.
It is currently traded in Nepal Stock Exchange with the symbol of ALICL.
Address: Maitidevi, Kathmandu, Nepal
Tel: +977-1-4410115, +977-1-4430270
Prime Life insurance Co. Ltd. (PrimeLife) came into existence in June 2007. The promoters represent Nepal’s leading and highly prominent business groups having widely diversified business interests and expertise.
Its products are Prime Jeevan Upahar, Prime Life New Term Assurance, Prime Life Sulav Money Back, Prime Life Pension Plan, Prime Life Saral Beema and many more.
It is currently traded in Nepal Stock Exchange with the symbol of PLIC.
Address: Hattisar, Kathmandu, Nepal
Surya Life Insurance Company Ltd. has been established and registered under Company Act 2063 B.S.(Regd. No. 1006/063-64) and Insurance Act 2049 as a Public Limited Company and was issued a license to operate Life Insurance Business on 2064/12/06(19th March’08). The Company has made a reinsurance arrangement with Nepal Re-Insurance Co.Ltd.
Its products are Surya Money Back Plan, Foreign Employment Life Insurance Plan, Children’s Policy, Surya Endowment cum Whole Life Plan, and many more.
It is currently traded in Nepal Stock Exchange with the symbol of SLICL.
Address: Sano Gaucharan, Kathmandu, Nepal
Gurans Life Insurance Co .Ltd. has been established and registered under the Company Act 2063 B.s.(Regd. No. 1005/063-64) and Insurance Act 2049 as a public Limited Co. and was issued a license to operate Life Insurance Business on 2064/12/18. Gurans Life Insurance Co. Ltd. is promoted by Dugar Group, Sunrise Bank Ltd. along with a group of diverse and renowned Businessmen, Industrialist and Legal professionals.
Its product are Gurans Savadhik, Gurans Agrim Bhuktani, Gurans Jivan Shree, Gurans Naulo/Bal Surakshya, Gurangs Baideshik Rojgar and many more.
It is currently traded in Nepal Stock Exchange with a symbol of GLICL.
Address: Shree Raj Bhawan, Tinkune, Kathmandu, Nepal
This article ‘List of Life Insurance companies in Nepal’ is prepared from the information provided on the internet. Companies’ websites, Nepal Stock Exchange and many important websites were taken into consideration while writing this article. While utmost care has been given to make the website as relevant as possible, you can always send your feedback at firstname.lastname@example.org for any suggestions or corrections.