Kathmandu. Life Insurance Corporation (Nepal) Limited (LIC Nepal) is gradually losing the trust of the insured. The delay in claim payment, declining morale of agents and incompetence of leadership are the reasons for the decrease in the trust of the insured towards LIC Nepal.
To understand the fact that LIC Nepal is currently going through the most difficult situation in its history, one should look at the first insurance premium and surrender data collected by the company.
The company has earned a total insurance premium of Rs 12.56 billion 5 lakhs by the end of the current fiscal year. LIC Nepal Insurance has surrendered 17,889 policyholders worth Rs 3 billion in 8 months.
The policy surrender of life insurance companies has increased till the end of Falgun of the current fiscal year 081/082. In 8 months, 71,554 policyholders of 14 life insurance companies have surrendered insurance policies worth Rs 9.87 billion 63 lakh 63 thousand.
Life Insurance Corporation (Nepal) LIC has the highest policy surrender. According to the data of the Nepal Insurance Authority, LIC has surrendered 17,889 insurance policies worth 3.99 billion 6.32 billion rupees.
National Life Insurance Company has surrendered 10,146 insurance policies worth 921.70 million rupees. Met Life has surrendered 2,378 policies worth Rs 279.9 million, while Sanima Reliance Insurance has surrendered 1,247 policies worth Rs 174.5 million.
Similarly, Asian Life Insurance has surrendered 5,824 policies worth Rs 611.4 million, while National Life Insurance has surrendered 4,160 policies worth Rs 605.1 million.
Suryajyoti Life Insurance has closed 3,936 policies worth Rs 532.1 million. .
Himalayan Life has surrendered 4,584 policies worth Rs 422.7 million, while IME Life Insurance has surrendered 1,190 policies worth Rs 135.3 million.
Citizen Life Insurance has surrendered 1,959 policies worth Rs 184.4 million, while Prabhu Mahalaxmi Life has surrendered 120 policies worth Rs 142 million. Reliable Life Insurance has surrendered 1,096 policies worth Rs 74.4 million.
Also, Sun Nepal Life Insurance has surrendered 526 policies worth Rs 55.5 million.
प्रतिक्रिया दिनुहोस्