Frequently Asked Questions
1. What is Life Insurance Corporation (Nepal ) Ltd.?
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. having Registration No: 765-057/58, was incorporated under the Companies Act 2053, on 27.12.2000. It has started Operations since 01.09.2001.
2. What type policies does LIC (Nepal) Ltd. sell?
We are offering a number of policies ranging from pure term insurance plan like Amulya Jeevan, which is the cheapest individual life insurance available in Nepal, to Investment related Plans like Jeevan Astha, which offers highest guaranteed returns. We are also paying Bonus ranging from Rs. 52.00 to Rs. 85.00 depending on Plan & Term of the Policy
3. Why do I need life insurance?
Life Insurance provides umbrella of security against unforeseen catastrophe of life. It substitutes family income and provides financial stability in case of unfortunate demise of the bread winner of the family. Therefore, those who love their family should get their lives insured. Apart from this, Life insurance is also a form of saving, which provides smart returns on periodical intervals as well as at maturity of policy. Life Insurance policies are frequently used as collateral security to cover mortgage loans.
4. How can I insure 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 service for all policy holders. This includes collection of premiums, issuing of policies, generating various quotations etc.
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 speedy 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. In case of any change, please ensure to update new Nominee's Name in our records.
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. Please also intimate us your Landline, Mobile numbers and your E-Mail id, so that we may effectively communicate with you.
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.