Kathmandu: Nepal Life Insurance, the largest life insurance company, has launched a special cash-back scheme through digital payment service providers(PSPs) on the occasion of Dashain Festival.
Nepal Life has come up with a cash discount scheme in collaboration with service providers E-Sewa, Khalti, and Prabhu Pay to attract the insured to pay the renewal premium. Nepal Life’s insured will get a cashback up to Rs. 1,000 while paying the renewal premium within seven days of the premium due date.
As the PSPs are providing this facility under the cashback scheme, the cash refund amount is credited to the insured’s account the day after the premium is paid. The cashback is refunded to the wallet used by the insured to pay the renewal premium.
Conditions for Cashback:
The cashback is available only if the renewal premium is paid within seven days from the due date. A discount facility is available even if the premium is paid before the due date. In most life insurance companies, renewal premiums can be paid 30 days in advance.
What are the special offers?
E-Sewa Wallet is offering a discount of 0.35 percent or a maximum of Rs. 1,000. It has also announced the gift of an iPhone12 mobile phone to one lucky winner every month during the scheme.
Khalti Wallet, on the other hand, has only introduced a cash discount scheme. There is no gift scheme. But Khalti Wallet has announced a discount of 0.5 percent or a maximum of Rs. 1,500 on the renewal premium which is higher than of other competitors.
How to pay?
The premium can be paid through the insurance option given in the mobile wallet of E-Sewa, Khalti, or Prabhu pay. Umbrella is used as an icon for insurance premium payment options. Clicking on the Umbrella icon, two options appear i.e. life insurance and non-life insurance. Click on life insurance and then click on Nepal Life’s logo and proceed with the payment by typing the policy number and date of birth of the insured. You can complete the payment process in less than a minute.