LIC Nepal

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What is Life Insurance?Why Life Insurance? Why Invest ?

Frequently Asked Questions

1. What is Life Insurance Corporation (Nepal ) Ltd.? Is the company related to LIC of India?: LIC (Nepal) Ltd. is one of the largest capitalized insurance companies of Nepal. A joint venture between Life Insurance Corporation of India(55%) and Vishal Group of Nepal (25%), the insurance company has public participation to the extent of 20%. Life insurance corporation (Nepal) Ltd. is Registration No: 765-057/58
Incorporated under the Companies Act 2053, 27.12.2000
Started Operations 1.09.2001.

2. What type policies does LIC (Nepal) Ltd. sell?: The policies are in general very similar to those sold by LIC of India, but specially designed to cater to the need of the citizen of Nepal.

3. Why do I need life insurance?: Virtually in every family one or more people relying upon breadwinner for their income, and these dependents normally need the security that an insurance policy can provide. In addition, we all need to accumulate savings for children's school fees, our old age and similar. Careful planning and disciplined saving using suitable policies can help all of us meet these different needs.

4. How can I inusre with LIC(Nepal) Ltd.?: It is vary easy to get insured with us. Kindly browse through our products line and select a plan that suits your needs. Contact any of our Branch Office or Our Agents to fill up the proposal form, medical examination and paying of premium.

5. What is Survival Benefit?
: In our money back Plans there is a provision of payment of moneys at given intervals? This is called survival benefits.

6. What facilities are provided at the Branch Offices?: The Branch Offices in various parts of Nepal provides a full service for all policy holders. This includes collection of premiums, issuing of policies, payment of maturity claims, payment of death claims and similar.

7. Where can I pay my premium?: In any Branch of LIC (Nepal) ltd. and at any branch of the Banks authorized by LIC (Nepal) for collecting premium.

8. Why Nomination is necessary?: Nomination facilitates settlement of claim in the event of unfortunate death of the life assured in favor of nominee. Name of the nominee should be clearly mentioned in the Proposal Form.

9.How to change the address for communication ?: We shall be delighted to effect the change of address on receipt of your written communication through post or e-mail to help you receive future communications at your new address.

10. How quickly would a claim be paid?: Any claim paid by LIC (Nepal) Ltd, of whatever type, will be paid immediately on satisfactory completion of all the documentation which the company will require.