Business, Knowledge and Information

Top Best Life Insurance Companies in Nepal

Written by Sudarshan Pahari · 3 min read >

Happy New Year 2020. We wish you health, prosperity, and happiness ahead. In today’s article, we have brought this list of the top best life insurance companies in Nepal.

In general sense insurance is a contract of financial protection for any future uncertainties. It is an agreement between an individual and a financial institution that provides monetary protection. Moreover, taking a policy of insurance provides you with financial security in every unexpected accident and disaster.

“In case you can’t be there to catch them make sure you leave a safety net.”

Before we Begin…

Let’s know a bit more about What is an Insurance? Insurance is something people buy to protect themselves from losing money. Moreover, insurance gives financial security in difficult times. Insurance is a contract represented by a policy, in which an individual or entity receives financial protection or reimbursement against losses from an insurance company. There are different types of insurance companies such as life insurance, non-life insurance, and reinsurance.

Here is the list of the Top Best Life Insurance Companies in Nepal.

MetLife-American Life Insurance Company Limited

Asian Life Insurance Company Limited

Citizen Life Insurance Company Limited

Gurans Life Insurance Company Limited

IME Life Insurance Company Limited

Jyoti Life Insurance Company Limited

Life Insurance Corporation Nepal Limited

National Life Insurance Company Limited

Nepal Life Insurance Company Limited

Union Life Insurance

MetLife Life Insurance Company

MetLife is a branch of MetLife Inc. of the USA serving in Nepal since 5 December 2001. It is the first foreign company to work in this field in Nepal. MetLife is one of the leading Life Insurance, accident, health insurance, and employee benefits at a competitive price.

Asian Life Insurance Company

Asian Life Insurance Company is licensed as per insurance act 2049 from Beema Samiti. It started functioning on 3rd April 2008. It is serving the nation through its 140 branch network across the nation. Asian Life has a diversified network to distribute an extensive range of products, money back, endowment, whole life, joint life, term life, micro life products, etc.

Citizen Life Insurance Company

It is one of the fastest-growing life insurance companies in Nepal. It began its operations on October 19, 2017. Citizen is a 70:30 public limited company, currently it is serving its clients through 102 branches in different parts of the country. Citizen Life distributes an extensive range of products, for its customer. Moreover, it delivers value to its policyholders through innovative plans.

Gurans Life Insurance Company

Gurans Life Insurance Co. Ltd has been established and registered under Company act 2063 B.S. and Insurance Act 2049. The company started as a public limited company and was issued a license to operate life insurance businesses. It projects to develop the company as an important entity and contribute to the social as well as financial sector towards building a new Nepal.

IME Life Insurance Company

IME Life Insurance was registered in 2065 Ashwin 15 and started its operation from 1st Bhadra 2074. It offers a range of individual and group insurance solutions that meet various customers’ needs as protection, saving, and investment. They came up with the vision to enhance awareness about life insurance products and contribute to the nation’s development.

Life Insurance Corporation Nepal

Life Insurance Corporation Nepal is one of the largest capitalized insurance companies in Nepal. It is a joint venture between Life Insurance Corporation of India and Vishal Group. The company has branches dispersed almost all over Nepal. It has made goals to contribute to the nation’s overall development and spread life insurance awareness. Moreover, it aims to fulfill the life insurance needs of customers, and conduct business in an effective way.

Jyoti Life Insurance Company

Jyoti Life Insurance is established under company act 2063 and insurance act 2049 as a public limited company in July 2017. The company plans to reach out to all parts of Nepal. Moreover, it aims to make insurance services available to all Nepali citizens and safeguard their future interests. Jyoti Life tends to have a strong presence in all states of Nepal through which will be reaching out to its clients.

Read here about How to Register Business in Nepal

Union Life Insurance Company

Union Life Insurance Company Ltd. has was established and registered under the Company Act 2063 and Insurance Act 2049 in the year 2074 B.S. The primary objective of the company is to carry on all life insurance businesses including health insurance. Moreover, the company provides qualitative life assurance services to its valued customers with relevant new products. The Company also actively involves itself in the mobilization of domestic savings.

National Life Insurance Company

National Life Insurance Company Limited was formerly known as National Life and General Insurance Co. Ltd. It was incorporated in 1968 of Nepal Company act 1964 and the insurance act 1968 of Nepal. The prime objective is to meet the growing insurance requirements of the country. National Life’s core values are professionalism, transparency, trustworthiness, and honesty.

Nepal Life Insurance Company

NepalLife, established under company act 2053 and insurance act 2049 as a public limited company in 2058. It is the foremost life insurance company established by private investors. Also, the company has its mission to endeavor through life insurance in making every family financially safe. Further, it aims to help every citizen of Nepal by building a healthy prosperous strong, and vibrant nation.

On the End Note…

Lastly, this was the list of the top best insurance companies in Nepal. Insurance is a rapidly emerging industry in Nepal. Moreover, new companies are forming in the way to serving or insuring the people of the country. Also, it is better to prepare for the future as no one knows what occurs or happens.