Kathmandu. The surrender of insurance policies in life insurance companies has decreased significantly.
According to the Insurance Reflection published by the Nepal Insurance Authority, the current fiscal year 2082. In 83 years, 7,666 insurance policies have been submitted to life insurance companies. Last fiscal year 2081. There are 10,292 surrendered insurance policies in 81 districts. In this way, the number of insurance policies has decreased by 25.51 percent in the review period compared to the same period of the last fiscal year.
In the current fiscal year, life insurance companies have released Rs 1.24 billion from the surrender of insurance policies. In July last year, Rs 1.54 billion was outlined from the insurance policy. Similarly, the amount of insurance policy surrender decreased by 19.20 percent in the review period compared to the previous year.
On the other hand, the amount of insurance has increased by 7.43 percent compared to the previous year. The amount of insurance policies spent till mid-July of the last year was Rs 34.81 billion which increased to Rs 37.39 billion by mid-July of the current fiscal year.
The number of insurance policies issued till mid-July of the current fiscal year has reached 12,29,446. The number of insurance policies issued till mid-July last year was 1,178,562. It has increased by 4.32 percent in July of the current year compared to the previous year.
