Kathmandu. American Life Insurance Company MetLife has announced a new bonus rate for its customers. The company is in the financial year 2081. According to the actuarial valuation of 82 (1st Shrawan 2081 to Ashar Masyan 2082), the bonus rate has been fixed for all the life insurance policies that are going to be profitable.
Advance Payment (Three Payment Plan)
The company has announced a bonus rate ranging from a minimum of Rs 45 to a maximum of Rs 65 for life insurance policy. The company has fixed a premium of Rs 1,000 for a period of 1 to 15 years. The bonus rate for 16 to 20 years has been fixed at Rs 55 and Rs 65 per thousand for 21 years and above. The company has sold 5,869 policies with a period of 1 to 15 years.
Advance Payment Plan (Midterm Growth Plan)
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The company has announced a bonus rate of Rs 45 to a maximum of Rs 55 for this policy. The company has fixed a premium of Rs 1,000 for a period of 1 to 15 years. The bonus rate for 16 years to 20 years has been fixed at Rs 50 per thousand and for 21 years and above. The company has sold 883 policies with a period of 16 to 20 years.
Term Life Insurance (Endowment Plan)
The company has announced a bonus rate ranging from a minimum of Rs 50 to a maximum of Rs 70 for this policy. The company has fixed a premium of Rs 50 per thousand for a period of 1 to 15 years. The bonus rate for 16 to 20 years has been fixed at Rs 60 and Rs 70,000 for 21 years and above. The company has sold 5,989 policies of 16 to 20 years.
Education Protection Plan)
In the case of this policy, the company has fixed a minimum bonus rate of Rs 50 to Rs 70. The company has fixed Rs 50 per thousand for a period of 1 to 15 years. The bonus rate for 16 years to 20 years has been fixed at Rs 60 and Rs 70 per thousand for 21 years and above. The company has sold the highest number of 13,750 policies with a tenure of 16 to 20 years.
My Child Education Protection Plan
In the case of this policy, the company has fixed a minimum bonus rate of Rs 40 to Rs 50. The company has fixed Rs 40 per thousand for a period of 1 to 15 years. The bonus rate for 16 to 20 years has been fixed at Rs 45 per thousand and for 21 years or above, the bonus rate has been fixed at Rs 50,000. The company has sold the highest number of 3,283 policies with a period of 16 to 20 years.
The bonus rate will be applicable to death claims, surrender value claims, paid up price claims, term payment claims and current policies. The company has also clarified that the same bonus rate will be applicable to the claims mentioned until another arrangement is approved by the Nepal Insurance Authority as per the actuarial valuation.
