Kathmandu. In the last three fiscal years, the amount of claim payment given by life insurance companies to the insured has been increasing continuously. As the amount of payment cheque given by the life insurer increases, the size of the remaining amount is also increasing continuously.
Last fiscal year 2081. In 2018, the insured received Rs 78.72 billion claim payment from the life insurance company. This amount is in the previous fiscal year 2080. It was Rs 65.46 billion in ’81. According to the Nepal Insurance Authority, the fiscal year 2079. Life insurers had paid a total claim of Rs 60.25 billion in 1980.
Claim Payment Amount Data for FY 2079. 80 to FY 2081. It has increased by 30.65 percent to 82. During this three-year period, the annual growth rate of claim payment was 9.32 percent.
In the review year, the growth rate of the number of claims paid was recorded at 5.43 percent. Fiscal Year 2079. The number of insurance claims paid in FY80 was 2,54,798 as compared to 2,54,798 in the last fiscal year. In 2018, the number reached 2,98,669.
Increased amount due to payment
In the period of three years, the amount of claim payment that the insured has to receive from the life insurer has also been gradually increased. According to the data published in the NRA’s annual report, the remaining amount has increased at the rate of 12.24 percent annually.
Fiscal Year 2079. The outstanding amount of claim payment in 80 was Rs 5.31 billion. Similarly, the fiscal year 2080. Rs 5.12 billion in FY81 and Rs 5.12 billion in the last fiscal year 2081. Insurance claims of Rs 7.51 billion are yet to be paid in 82.
Apart from this, there has been a gradual increase in the number of claims paid. Fiscal Year 2079. Out of 80, 51,929 life insurance claims were yet to be paid. Previous fiscal year 2080. 81 and last fiscal year 2081. In 82, the number was 58,125 and 67,831, respectively.
