Kathmandu: Nepal Life Insurance Company(NLIC) has published its approved policyholder’s bonus rate for FY 2076/77. The bonus rate has declined in comparison to the FY 2075/76.
As per the notice published by NLIC, the minimum bonus rate is Rs.56 and maximum bonus rate is Rs.82.On previous FY, the bonus minimum and maximum bonus rate was Rs.65 to Rs. 85.
According to NLIC, policyholder’s of endowment plan including child plan will receive from Rs.60 to 82 based on policy term. Similarly, bonus rate for endowment and whole life insurance is Rs.60 to Rs.82. Further Rs.56 to Rs. 58 is offered for Jiwan Samriddhi(money-back plan) where as Rs.60 is offered against other money-back plans irrespective of policy term.
The bonus rate has declined due to the provision for future bonus. The regulatory authority, the Insurance Board(IB) has made it mandatory for 100 per cent provisioning against future bonus within 5 years.