IME Life Insurance is part of the IME Group, a large Nepali remittance and financial-services group – a tie that can be genuinely convenient for families who already move money home through IME. On our derived measure it sits at 79.90% for FY 2081/82, ranking #14 of 14, though the trend is slightly up year on year. This review covers its plans, how reliably it pays, and who it suits – including an honest look at why it sits at the bottom of the table.
Quick Facts
| Detail | Information |
|---|---|
| Full name | IME Life Insurance Company Limited |
| NEPSE symbol | ILI |
| Type | Private, Nepali-owned (IME Group) |
| Regulator | Nepal Beema Pradhikaran (NIA) |
| Market share (premium) | 3.12% |
| Life fund | NPR 13.11 arba |
| Claim ratio FY 2081/82 (derived) | 79.90% (rank #14 of 14) |
| Claim ratio FY 2080/81 (derived) | 79.38% (improving slightly) |
| Total claims paid FY 2081/82 | NPR 1.28 billion (Rs. 128.37 crore) |
| Entry age | 0 – 60 years (with child plans) |
| Policy terms | 5 – 25 years |
| Riders | Accident, Disability |
Claim Settlement Ratio: Why It Sits at #14
An honest note on the number first. The NIA does not publish a per-company “claim settlement ratio.” It publishes claims paid and claims outstanding for each insurer, and the 79.90% here is a ratio we derive from those (claims paid divided by claims paid plus outstanding). It is amount-based, a year-end snapshot, and excludes rejected claims.
IME Life ranks #14 of 14 on this measure. In FY 2081/82 it paid Rs. 128.37 crore in claims, but about Rs. 32 crore of claim value was still outstanding at year-end – close to a fifth of its total, the largest pending share in the cohort, which is exactly what pulls an amount-based ratio to the bottom. As one of the market’s younger, smaller insurers, a big pending queue weighs heavily on the percentage. The figure did improve slightly, from 79.38%. The fair reading: this reflects a sizeable outstanding/pending queue at a point in time, not a count of denied claims (rejections are not in the formula), so the sensible move is to ask IME Life directly about its settlement timelines – and to weigh that against the convenience the IME tie offers you.
Plans Available (FY 2081/82)
Endowment: IME Simple Endowment Plan (flagship)
Its main savings-plus-protection plan (IME Saral Sawadhik Bima Yojana), and one of a broader endowment menu it sells (others include the limited-payment IME Sabal Jeevan and the IME Bal Ujjwal child plan). It pays the sum assured plus accumulated bonus at maturity, or the full sum assured to your nominee on death during the term. See the full list on IME Life’s own site.
- Endowment bonus (FY 2081/82): Rs. 32 to Rs. 70 per 1,000 sum assured per year
- Riders available: Accident, Disability
- Policy loan: Yes, after 3 years | Surrender: Yes
Term: IME Best Term (flagship)
An individual term plan – the highest cover for the lowest premium. For a family already using IME for remittance, buying term cover from the same group can keep things in one relationship. IME also runs a credit/loan term plan (Karja Myadi), a micro-term plan, and a compulsory Foreign Employment term policy for workers going abroad.
Whole Life: IME Aajeevan Sawadhik
A whole-life plan (IME Aajeevan Sawadhik Beema Yojana) that combines endowment and lifelong cover. Confirm the current bonus and terms for this specific plan with the company before buying.
Money Back: IME Dhanbardhan (flagship)
The IME Dhanbardhan Money Back PlanReturns a portion of your sum assured at regular intervals during the policy term. Full definition → returns money at intervals to help meet recurring expenses, with a survival-to-maturity benefit and life cover throughout the term. IME also offers a limited-payment money-back plan (Dhanbriksha) and a money-back-cum-whole-life plan (IME Kalpa Dhan).
Don't buy based on reviews alone. Compare claim ratios and IRR instantly.
Compare All PlansThe IME Group Connection
The honest pitch for IME Life is convenience, not coverage. For Nepali workers abroad – particularly those who already use IME for remittance – buying life cover from the same group means one relationship handling two of your family’s financial safety nets. That is a real operational convenience.
It is worth being clear about what it is not. All 14 of Nepal’s life insurers cover death outside Nepal as standard, so the IME tie is not a coverage advantage – and it does not change the claim figures above. Treat the group connection as a convenience factor to weigh alongside the numbers, not as a reason to skip comparing.
A Note on Bonus Rates
IME Life’s declared endowment bonus for FY 2081/82 is Rs. 32 to Rs. 70 per 1,000 sum assured (dual-sourced from Beemapost and the company’s own declaration) – a mid-range rate, neither the highest nor the lowest in the market. Rates differ by plan type and policy term, so confirm the bonus for the specific plan you are buying. To weigh insurers side by side, see our comparison of all 14 companies.
Who Should Choose IME Life?
Choose IME Life if:
- You or your family already use IME Group services and value a single trusted relationship
- A mid-range endowment bonus (Rs. 32 to Rs. 70) at a mid-market premium suits you
- You accept a #14-of-14 claim ratio, understanding it reflects a large outstanding queue, not proof of denial – and you plan to ask about settlement timelines
Consider alternatives if:
- The claim record is your main criterion – on this measure IME sits last, and Asian Life (98.85%), Sun Nepal (98.71%), and most others rank well above
- You want the highest bonus – National Life declares up to Rs. 85
- You need entry above age 60 or a policy term longer than 25 years
See Your Own Numbers
Premiums depend on your age, sum assured, and term, so a single sample figure can mislead. Use the Premium Calculator to compare IME Life’s estimated premium against all 13 other insurers for your exact inputs.
Data source: NIA Annual Report FY 2081/82 (Schedules 14 and 15) for financials and claim amounts; plan names from IME Life’s own website; bonus rates from Beemapost and the company’s own declaration. The claim “ratio” is our amount-based derivation (claims paid over paid plus outstanding, in NPR crore); the NIA does not publish a per-company settlement ratio. Any premium shown by our calculator is an estimate, not a quote. Full disclaimer.