Kathmandu. Life insurance companies in the current fiscal year 2082. The number of life insurance premiums and the amount of surrender decreased in the 9 months of the year 2018.
According to the Insurance Reflection published by the Nepal Insurance Authority (NEA), the number of life insurance policies submitted till mid-April of the current fiscal year has declined by 14.13 percent. During this period, 65,477 insurance policies have been surrendered. Last fiscal year 2081. A total of 71,554 insurance policies were handed over by the insured during the same period of 2018-19.
As the number of surrenders decreases, the amount paid for surrenders has also decreased. Life Insurance Company had paid a total of Rs 11.09 billion as dedication till mid-April of the last fiscal year. The insured have received payment of Rs 10.49 billion till mid-April of the current fiscal year. The surrender amount decreased by 5.42 percent compared to the previous year.
According to NEA, there has been a slight decrease in the number of life insurance policies that have exceeded 6 months from the date of payment of renewal premium. The number of insurance policies during the review period decreased by 1.67 percent compared to the previous year.
In the first nine months of the current fiscal year, 12,25,454 insurance policies have been issued. The remaining amount of the insurance policy stands at Rs 37.73 billion. In the same period of the previous year, the outstanding amount of 12,46,301 insurance policies was Rs 36.87 billion. The amount outstanding in the review period has increased by 2.33 percent compared to the previous year.
