Kathmandu. According to the data till April of the current fiscal year, the life insurance companies have seen the highest share of term insurance in the business.
According to the Nepal Insurance Authority(NEA), life insurers have brought in more than Rs 140.35 billion in the current fiscal year. This is an increase of 15.55 percent compared to the same period last year. Till April last year, life insurers had brought in more than Rs 121.46 billion.
According to statistics, life insurers have collected rs 53.70 billion in insurance premiums by selling term insurance policies for the first 10 months of the current fiscal year. The share of term insurance in the total life insurance business is 38.26 percent.
Similarly, the second highest advance payment term insurance has been sold by life insurers. By selling this insurance policy, the companies have collected Rs 29.11 billion in insurance premium. The share of advance payment term insurance in the total trade is 20.74 percent.
The third has a child-related term insurance policy. By selling this insurance policy, the companies have earned Rs 21.54 billion in insurance premium. It accounts for 15.35 per cent of the total trade.
Similarly, the companies have collected Rs 17.39 billion by selling converted term insurance policies till Mid-April. Which is 12.39 percent of the total trade.
Life insurance has collected Rs 5.69 billion (4.06 per cent) through single insurance, Rs 3.59 billion (2.56 per cent) through life insurance, Rs 2.88 billion (2.05 per cent) through foreign employment term insurance, Rs 2.73 billion (1.95 per cent) through other insurance, Rs 2.43 billion (1.73 per cent) through micro insurance and Rs 1.25 billion (1.73 per cent) through term insurance.
