LIC Nepal is the Nepali arm of LIC India — the largest life insurer in Asia and one of the biggest in the world. When you buy a policy from LIC Nepal, you are backed by an institution that has been paying claims for over 65 years and manages assets equivalent to multiple times Nepal’s entire GDP.
In Nepal’s market, that pedigree shows: LIC Nepal holds a 92.69% claim settlement ratio — ranking #8 among all 14 NIA-licensed life insurers in FY 2081/82.
Quick Facts
| Detail | Information |
|---|---|
| Full name | Life Insurance Corporation (Nepal) Limited |
| NEPSE symbol | LICN |
| Established in Nepal | 2057 BS (2000 AD) |
| Type | Foreign Branch — backed by LIC India |
| Regulator | Nepal Beema Pradhikaran (NIA) |
| Claim ratio FY 2081/82 | 92.69% — NIA Rank: #8 of 14 |
| Claim ratio FY 2080/81 | 96.40% (declining ▼) |
| Entry age | 5 – 60 years |
| Policy terms | 5 – 25 years |
| Riders | Accident, Critical Illness, Disability |
Claim Settlement Ratio — #8, Declining
LIC Nepal’s 92.69% in FY 2081/82 places it eighth among Nepal’s 14 life insurers — a significant decline from 96.40% the previous year. For every 100 death claims filed, approximately 93 were paid. Despite the year-on-year drop, LIC Nepal’s claim operation remains backed by LIC India’s global infrastructure and decades of process experience in Nepal. The declining trend is worth monitoring for buyers making large, long-term commitments.
Plans Available (FY 2081/82)
Endowment — Jeevan Vidya
LIC Nepal’s flagship endowment plan. Pays sum assured plus bonus at maturity, or to nominee on death.
- Bonus rate: Rs. 56–80 per 1,000 SA/year
- Estimated annual premium (Rs. 25L, age 30, 20yr): ~NPR 125,900
- Riders: Accident, Critical Illness, Disability
- Loan & surrender: Yes (after 3 years)
Term — Term Plan
Pure life cover. No maturity payout. Covers death outside Nepal.
- Estimated annual premium (Rs. 50L, age 28, 20yr): ~NPR 19,400
Whole Life — Jeevan Tarang
Coverage until age 100. Bonus: Rs. 58–82/1,000 SA/year.
ULIP — Wealth Plus
Investment-linked plan. Returns depend on market performance.
Money Back — Jeevan Saathi
Periodic liquidity payouts during the policy term. Bonus: Rs. 46–72/1,000 SA/year.
LIC Nepal vs the Market
| Metric | LIC Nepal | Market Position |
|---|---|---|
| Claim ratio | 92.69% | #8 of 14 |
| Endowment premium (Rs. 25L, age 30) | ~NPR 125,900/yr | Upper middle range |
| Term premium (Rs. 50L, age 28) | ~NPR 19,400/yr | Second most expensive |
| Endowment bonus range | Rs. 56–80/1,000/yr | Middle of market |
| Maximum entry age | 60 years | Lower than some (others up to 65) |
| Maximum policy term | 25 years | Lower than some (others up to 30) |
| Parent company | LIC India | Only Indian-backed insurer in Nepal |
Who Should Choose LIC Nepal?
Choose LIC Nepal if:
- The backing of LIC India’s global financial strength matters more to you than the current #8 ranking
- You are between 5 and 60 years old
- You want Critical Illness rider coverage
Consider alternatives if:
- You want the highest bonus — National Life (Rs. 63–85/1,000) outperforms LIC Nepal’s Rs. 56–80/1,000
- You need a term longer than 25 years — National Life and Nepal Life go up to 30
- You are between 61 and 65 — LIC Nepal will not accept you; National Life and Nepal Life will
- You want a lower term premium — Rastriya Jeevan Beema, Reliable Nepal, and Sanima Reliance are all cheaper for term
Compare LIC Nepal’s Jeevan Vidya plan against all 13 competitors on our Compare Plans tool.
Data source: NIA Annual Report FY 2081/82. Premiums are estimates. Claim ratios are amount-based (NPR Crore per NIA Schedules 14 & 15); per-company claim settlement counts are not separately published — only an industry-wide total is available. Full disclaimer →
