Kathmandu: Reliance Life Insurance has submitted all the documents related to the life insurance policy of Sarjan BK to the Insurance Board. Following the brutal killing of BK for life insurance claim, the Insurance Board had directed the insurer to submitted all documents used while issuing life insurance policy for him.
BK, a 21 year old guy, was killed in a well-planned road accident by main accused Sanjiv Aryal, to get the death claim worth Rs.2.5 crore from Reliance Life Insurance. The death claim was the highest ever claim paid by Reliance Life till date.
During an investigation by the Central Bureau of Investigation(CIB) of Nepal Police, it was revealed that BK was a victim of a insurance fraud gang led by Aryal. BK was a laborer who hailed from a slum of Kohalpur, Banke. Aryal had made all the arrangement for his life insurance policy and paid Rs.5.40 lakh annual premium on behalf of BK.
Police investigation had found that the name of Sapana Malla, one of the accused of the murder case, was mentioned in the nominee of the insurance policy prior to BK’s marriage with her.
Surya Prasad Silwal, the chairman of Insurance Board, said that after detailed study of the proofs submitted by Reliance Life Insurance, required regulatory actions will be taken to avoid such brutal incidents in the future. He also informed that the CEOs of insurance companies have been directed to submit written suggestion to stop any lacking in the part of medical, financial or moral hazard underwriting.