{"id":300539,"date":"2026-05-24T15:21:12","date_gmt":"2026-05-24T09:36:12","guid":{"rendered":"https:\/\/insurancekhabar.com\/?p=300539"},"modified":"2026-05-24T15:25:07","modified_gmt":"2026-05-24T09:40:07","slug":"life-insurance-future-assurance-not-compulsion-2","status":"publish","type":"post","link":"https:\/\/english.insurancekhabar.com\/life-insurance-future-assurance-not-compulsion-2\/","title":{"rendered":"Life Insurance: Future Assurance Not Compulsion"},"content":{"rendered":"<ul>\n<li><strong><span style=\"color: #0000ff\">Santosh Acharya<\/span><\/strong>{TAG_CLOSE_li_52}}<\/p>\n<\/ul>\n<p>On the way back home from the office in the evening, I suddenly met a school friend and after a long time, I went to a nearby coffee shop to talk to me. Since it took some time for the coffee to arrive, the waiter brother asked for a Wi-Fi password and took a selfie and posted it on Facebook. At that moment, a person&#8217;s story clicked. Tiktok was acting that &#8216;if you meet a person who works in insurance, they make it better to die than to live&#8217;. <\/p>\n<p>He smiled because he also worked in the insurance sector. Then he added, &#8220;Yes, man! If they meet an insurance worker, they ask him whether to buy insurance. And it means that it is better to die than to live. But when he died, all the kings. What&#8217;s the limit of insurance?&#8221; <\/p>\n<p>He asked another question, &#8220;Really! So what do you work on?&#8221; <\/p>\n<p>Now I was stunned. Again, I didn&#8217;t return his answer to see if my friend would understand the character of Tiktok. Instead, he wanted to know how the educated class like him had absorbed the negative feelings towards insurance. I asked him, &#8220;Friend! Do you have insurance?&#8221; <\/p>\n<p>He said, &#8220;Yes, I do. 2 lakh actuarials. A neighbor&#8217;s brother scolded me for always doing anything about insurance. I made it 2 lakhs for him. Similarly, I pay an annual premium of around Rs 13,000. \u2019<\/p>\n<p>And I asked again what benefits were available from that insurance. &#8220;I didn&#8217;t care what he was saying,&#8221; he said. Why do you need it for me? He couldn&#8217;t say no to his brother. I don&#8217;t know anything. \u2019<\/p>\n<p>Then I asked him, &#8220;What do you do?&#8221; He was running a business with his friends in a construction company. The personal loan in the bank is Rs 4 crore. <\/p>\n<p>Contract work is going on day and night in different parts of the country. He earns about Rs 4 lakh a month. I said to him, &#8216;The value of your life is only Rs 2 lakh? If you have anything wrong, your family will get up to 4 lakhs as per the accident risk allowance. And you have taken all the house and land in the bank loan. If something happens tomorrow, will 4 lakhs be enough to pay off the bank&#8217;s debt? The whole family is on the streets. Think about it? <\/p>\n<p>When I said this, he made his mouth shut and said what would happen to me, and his voice was a little louder. After all, who will get into an accident today when he leaves the house in the morning? Who knows that if you get into an accident today, it can go down? At the same time, the daily information I found on YouTube 2 days ago refreshed me again. Worldwide, about 14 million people die each year due to accidents. And in Nepal, about 10 people die in accidents every day. And, if you look at the cause of death, about number 4 is a road accident. Similarly, the number of people who are completely disabled due to road accidents is also significant. <\/p>\n<p>However, the main thing is that in case of complete disability due to an accident, the insurance company pays the monthly allowance for 10 years and the insurance premium of the insured is free of cost for the rest of the period. The coffee arrived in the chat. The atmosphere was a bit emotional. <\/p>\n<p>Not only after the death of the insured, the friend reminded me that the insurance pays for the treatment of many fatal diseases seen in people like cancer, open hot surgery, heart attack. Today, it costs millions to treat it. <\/p>\n<p>Similarly, insurance companies have been providing disability allowance in case of total disability and not death due to accident. That&#8217;s not all! Some companies even provide hospital expenses in case of a personal accident. Surprised, he turned to me and said, &#8220;There are so many facilities, I only knew that insurance gives double and insurance pays money after death.&#8221; \u2019<\/p>\n<p>I stopped my friend and said, &#8220;Look, friend! If someone says that insurance will cost double, triple, then it is all a gossip. That&#8217;s a mishandling of insurance. Such agents are not professionals, they should be avoided. The return of insurance is mainly determined by its bonus, its bonus rate and the term of insurance. Therefore, the company&#8217;s bonus is linked to its profits. Profit and loss can be said on the basis of past work, but it cannot be said about the future. Therefore, if someone says with certainty, whether that person is an astrologer or God. \u2019<\/p>\n<p>My friend smiled saying that it was okay! Because if we grow 100 maunds of rice on 1 kattha of land today, there is no guarantee that we will grow 100 maunds of rice next year. It can be more or less than 100 minds. Therefore, the bonus rate of insurance may also vary depending on the profit and loss difference for each year that the company earns. However, some companies have also made public products that give certain bonus rate after taking approval from the Nepal Insurance Authority and do not participate in other profit and loss of the company. <\/p>\n<p>Friend! As I was interested in insurance, I added, &#8220;That&#8217;s all I paid for the insurance.&#8221; The future is uncertain beyond saying that I will get so much. It may be effective to understand that the risk in uncertainty is an appropriate tool for transferring financial risk to certainty. It can be understood as a combination of many facilities such as the prosperity of the dependent family with the income or income earner in the house, the future pension with today&#8217;s savings in old age, and the loan facility available immediately after 3 years at a low interest rate without any hassle and without paying extra fees. There are many interesting and useful features of such insurance. \u2019<\/p>\n<p>My friend suddenly said, &#8220;There are so many facilities. Insurance is very important to me. I didn&#8217;t have insurance based on the value of my life. And it doesn&#8217;t have to be anything. &#8220;It&#8217;s a disciplined saving,&#8221; he said. <\/p>\n<p>I added, &#8220;Even after the death of a friend, in our culture, wealth is needed to perform ancestral work.&#8221; You need the responsibility of providing for your family. At that moment, he looked at the yellow mark on his forehead and smiled and said, &#8220;Friend! Sohrashraddha is performed only after death. Even after death, the deeds of merit remain. Therefore, after death, everyone should not be called a king!&#8221; <\/p>\n<p>Now he is thinking of getting insurance. Then I introduced myself, &#8220;I also work for a life insurance company. My friend laughed and said, &#8220;Why didn&#8217;t you tell me earlier?&#8221; <\/p>\n<p>I said, &#8220;By this time, you have to raise awareness about insurance. These and similar incidents have happened in our society. Negative publicity and misinformation about insurance creates resentment in the insurance sector as a whole. Therefore, the terms &#8220;double&#8221; and &#8220;triple&#8221; would be more appropriate than &#8220;double&#8221; and &#8220;triple&#8221; about insurance. The ignorance of both the insured to understand and explain the benefits of the insurance due to the negligence of the insured himself and the negligence of the insured himself had made the image of the insurance somewhat tarnished. However, nowadays all the insurance companies and public awareness programs have also gone to digitalization, so its awareness is increasing day by day. Therefore, it is advisable to be aware of the benefits that are available to you rather than to do it by saying that the insurance partner does and does not do it. \u2019<\/p>\n<p>What is the insurance product of the customer? What facilities can be availed? I think there are a lot of people who are ignorant about it. For this, if you are not clear about the insurance products you have made, it will not matter that the number of insurance companies is very low in Nepal. <\/p>\n<p>Since insurance is one of the best tools of financial management, it means that insurance can be nothing more than an essential necessity. Therefore, the concept of &#8216;one house, one insurance&#8217; is the main need of our society. <\/p>\n<p><span style=\"color: #0000ff\"><strong><em>(The writer is working at the Biratnagar branch of Himalayan Life Insurance. )<\/em><\/strong><\/span><\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Santosh Acharya{TAG_CLOSE_li_52}} On the way back home from the office in the evening, I suddenly met a school friend and after a long time, I went to a nearby coffee shop to talk to me. Since it took some time for the coffee to arrive, the waiter brother asked for a Wi-Fi password and took [&hellip;]<\/p>\n","protected":false},"author":9,"featured_media":300541,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[45031,45159,45156],"tags":[],"class_list":["post-300539","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-banner-news-en","category-news-en","category-blog-en"],"acf":[],"_links":{"self":[{"href":"https:\/\/insurancekhabar.com\/ikbrapi\/wp\/v2\/posts\/300539","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/insurancekhabar.com\/ikbrapi\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/insurancekhabar.com\/ikbrapi\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/insurancekhabar.com\/ikbrapi\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/insurancekhabar.com\/ikbrapi\/wp\/v2\/comments?post=300539"}],"version-history":[{"count":1,"href":"https:\/\/insurancekhabar.com\/ikbrapi\/wp\/v2\/posts\/300539\/revisions"}],"predecessor-version":[{"id":300540,"href":"https:\/\/insurancekhabar.com\/ikbrapi\/wp\/v2\/posts\/300539\/revisions\/300540"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/insurancekhabar.com\/ikbrapi\/wp\/v2\/media\/300541"}],"wp:attachment":[{"href":"https:\/\/insurancekhabar.com\/ikbrapi\/wp\/v2\/media?parent=300539"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/insurancekhabar.com\/ikbrapi\/wp\/v2\/categories?post=300539"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/insurancekhabar.com\/ikbrapi\/wp\/v2\/tags?post=300539"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}