Which Nepal life insurance company has the highest claim settlement ratio?

National Life Insurance has the highest claim settlement ratio in Nepal at 95.66% for FY 2081/82, followed by LIC Nepal at 95.41% and MetLife Nepal at 95.25%, according to NIA Schedule 14 & 15 data.

How many NIA-licensed life insurance companies are there in Nepal?

There are 14 NIA-licensed life insurance companies in Nepal as of FY 2081/82, following a wave of mergers mandated by the Nepal Insurance Authority.

What is the difference between term insurance and endowment insurance in Nepal?

Term insurance provides pure life cover for a fixed period with no maturity benefit — premiums are low (NPR 16,000-20,500/year for NPR 50L). Endowment insurance combines savings and life cover, paying out at maturity — premiums are higher (NPR 120,000-130,000/year for NPR 25L).

What is a claim settlement ratio in Nepal life insurance?

The claim settlement ratio measures what percentage of death claims an insurer paid. Calculated as: Claims Paid ÷ (Claims Paid + Outstanding) × 100, using NIA Schedule 14 and 15 data.

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Insurer	Bonus Range	Bonus (Cr)	From / mo	Claim Ratio	NLI Score

// Premiums shown for a 32-yr non-smoker, NPR 25 lakh sum assured, 15-yr term. Data refreshed Apr 2026 from Nepal Insurance Authority filings.

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Nepal insurance at a glance

14+

Life insurers — NIA licensed

15.94M

Active policies (FY 2081/82)

98.85%

Highest claim ratio (Asian Life)

15.28%

YoY premium growth (NIA 2081/82)

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Regulated by Nepal Beema Pradhikaran

All 14 companies listed here are licensed by the Nepal Insurance Authority (NIA), under the Ministry of Finance.

Common questions

Frequently Asked Questions

Which life insurance company has the highest claim ratio in Nepal? ▼

Asian Life Insurance (ALICL) ranks #1 with a 98.85% claim settlement ratio in FY 2081/82 (NIA Schedule 14 & 15). Sun Nepal Life (#2, 98.71%) and Prabhu Mahalaxmi (#3, 98.33%) follow. The claim ratio measures how much of each rupee of claims is actually paid — higher is better. See the full ranking →

What is the difference between term and endowment insurance in Nepal? ▼

Term insurance pays only if you die during the policy term — premiums are low (~NPR 16,000–17,500/year for Rs. 50L cover). Endowment insurance pays whether you die or survive — you get a lump sum at maturity plus annual bonuses, but premiums are much higher (~NPR 122,000–127,000/year for Rs. 25L). Choose term if maximum cover for minimum cost is the goal. Choose endowment if you want forced savings plus protection. Full comparison →

Is life insurance premium tax-deductible in Nepal? ▼

Yes. Under the Income Tax Act 2058, life insurance premiums qualify for a 15% tax rebate (Section 88) on premiums up to NPR 40,000/year paid to any NIA-licensed insurer. This means up to NPR 6,000 off your annual income tax bill. All 14 Nepal life insurers qualify. Full tax guide →

Which Nepal life insurance has the cheapest premium? ▼

For endowment, Rastriya Jeevan Beema is cheapest (~NPR 122,100/year for Rs. 25L, 20yr). For term insurance, Rastriya Jeevan Beema is also cheapest (~NPR 16,100/year for Rs. 50L cover). Use our premium calculator to compare all 14 insurers for your specific age, sum assured, and term.

How do I claim life insurance in Nepal? ▼

On the policyholder's death: the nominee must submit a claim form, death certificate, original policy document, and nominee ID to the insurer's branch within the deadline (usually 90 days). The insurer must settle within 30 days of receiving complete documents, per NIA regulations. If a claim is denied, escalate to Nepal Beema Pradhikaran (NIA) at nia.gov.np.