Kathmandu. KATHMANDU: National Life Insurance Company (NLIC) has announced a discount of up to 100% on late fee for renewal of policy.
Issuing a notice today, the company has announced a discount of up to 100 percent on the revival of the insurance policy from May 15 to May 29. According to the company, there will be 50% discount on late fee for reviving the policies that have expired since March 17, 2018.
Similarly, the company will provide up to 60% discount on late fee for policies expired from Chaitra 1, 2078 to Chaitra 1, 2078 and 75% discount on revival fees for insurance policies expired from Chaitra 1, 2078 to Chaitra 1, 2081.
Similarly, 100% discount on late fee will be given for reviving insurance policies that have expired since Chaitra 12, 2081.
In case of insurance policies expiring within 2 years from the date of revival, there will be no discount on late fee waiver, those who have already availed of late fee waiver facility will not be given re-discount for the entire term of the policy, and the insured who avails late fee waiver will have to update their KYC and EDI as per requirement.
If the policies included in this scheme are surrendered within 1 year from the date of revival, the entire amount of late fee waiver facility will be deducted.
