Kathmandu. The number of insurance policy sales from life insurance companies and micro life insurance companies has increased by about 30 percent.
According to the Nepal Insurance Authority, the last fiscal year 2081. The number of life policies issued by life insurers increased by 29.86 percent in the same period of the current fiscal year compared to the first quarter of the current fiscal year. The increase in the sale of term insurance and foreign employment term insurance policies has led to a significant increase in the sales of term insurance policies.
In the first quarter of the current fiscal year, 17 life insurance companies including 14 life insurers and 3 micro life insurers have sold a total of 19,839 policies. Life Insurance Company has issued a total of 14,63,720 policies till mid-September last year and has issued 19,839 policies this year.
According to NEA, the number of active life insurance policies has increased by 15.56 percent in the first six months of the current fiscal year. Current fiscal year 2082. As of mid-October 2018, there were 1,59,09,135 active life insurance policies.
Life insurance policies that have not exceeded 6 months from the date of payment of the renewal policy or if the terms and conditions of the policy are active after payment of the premium, are considered as active insurance policies.
A total of 7,80,613 insurance policies have been issued by non-life insurance companies till mid-October. The number of insurance policies issued has increased by 5.78 percent compared to the same period last year.
