Kathmandu. The life insurance company has increased the remaining amount of the insurance policy. It has been found that the remaining amount of the insurance policy is more than the amount that comes out of the companies from the surrender of the insurance policy.
Due to various reasons including increasing financial needs, financial pressure, lack of knowledge of insurance, the surrender amount of insurance and the remaining amount of the outstanding amount of the insured are increasing.
According to the public insurance report of the Nepal Insurance Authority( NEA), rs 12.27 billion was withdrawn from the surrender of the insurance policy from the life insurance companies in the 10 months of the current fiscal year. The amount of this insured is more than the amount that comes out of the surrender.
A total of 88,635 insurance policies have been surrendered to the companies till Mid-April of the current fiscal year. A total of Rs 12.27 billion has come out of the companies through the surrender of these insurance policies.
In the previous fiscal year, rs 10.98 billion had been withdrawn from the companies through the surrender of 89,077 policies. The surrender amount has increased by 11.70 percent in the review period as compared to the previous year.
Similarly, both the number and amount of insurance policies have increased. According to the NRA data, 1,254,478 insurance policies have been insured till Mid-April of the current fiscal year. The companies are yet to recover Rs 36.86 billion for these insurance policies.
The company had yet to recover Rs 30.98 billion from 1,123,742 insurance policies till April last year. Compared to the previous year, the number and amount of insurance policies have increased by 11.63 percent and 18.96 percent respectively.
