Kathmandu. KATHMANDU: Nepal Life Insurance Company (NLIC) has announced a discount of up to 30% on late insurance policy renewal.
Issuing a notice, the company has announced that the policyholders who have completed more than 180 days without paying the insurance premium, will be given discount on late fee if they pay the renewal premium from December 15 to January 29. As per the agreement, the company will provide 30% discount on late fee for renewal of policies that have expired for 3 years.
Similarly, those whose policies have expired for more than 3 years and 5 years will get 25 percent discount on late fee and 20 percent discount on those policies having more than five years.
If the policies included in this scheme are surrendered within 1 year from the date of revival, the entire amount of late fee waiver facility will be deducted. The company has also clarified that the policyholders who have already availed late fee waiver once will not be given re-discount for the entire term of the policy.
According to the company, the policy must have been completed for more than 180 days to get this discount.
