Kathmandu:Life insurance companies have sold 15 million life insurance policies till mid-July of the last fiscal year 2077/78. According to the population data released by the Central Statistics Office, access to life insurance has reached 34.68 percent. According to the department, the total population of Nepal is 33.78 million.
In the total number of policies issued by the companies, it is found that up to two or three policies have been purchased by the same person.Due to this, access to insurance cannot be calculated based on the number of policies issued. On the other hand, the term life insurance policy that expats have purchased has also helped to show more access. Therefore, the Insurance Board has been keeping the term life insurance policy and double policy at 5 percent for the rough calculation of access to insurance in Nepal and counting the remaining number as access.
