National Life Insurance Company Limited is one of Nepal’s largest life insurers, and it declares the highest endowment bonus in the market – Rs. 64 to Rs. 85 per 1,000 sum assured for FY 2081/82. It also saw the sharpest one-year fall in its claim settlement figure, to 84.55% (#12 of 14). This review explains both honestly, so you can weigh the bonus strength against the claims picture.
Quick Facts
| Detail | Information |
|---|---|
| Full name | National Life Insurance Company Limited |
| NEPSE symbol | NLICL |
| Type | Private, Nepali-owned |
| Regulator | Nepal Beema Pradhikaran (NIA) |
| Market share (premium) | 12.36% (one of the largest) |
| Life fund | NPR 89.91 arba (one of the largest) |
| Claim ratio FY 2081/82 (derived) | 84.55% (rank #12 of 14) |
| Claim ratio FY 2080/81 (derived) | 93.40% (sharp decline) |
| Total claims paid FY 2081/82 | NPR 11.07 billion (Rs. 1,107.13 crore) |
| Entry age | 18 – 65 years (adult plans) |
| Policy terms | 5 – 30 years |
Claim Settlement Ratio: A Sharp Fall, in Context
First, what the number is. The NIA does not publish a per-company “claim settlement ratio.” It publishes claims paid and claims outstanding for each insurer, and the 84.55% here is a ratio we derive from those (claims paid divided by claims paid plus outstanding). It is amount-based and excludes rejected claims.
National Life’s derived ratio fell sharply this year, from 93.40% to 84.55%. The context matters and is verifiable in the NIA figures, not an excuse: National is a large insurer, and in FY 2081/82 it actually paid more claims than the year before – Rs. 1,107.13 crore (about NPR 11.07 billion), up from Rs. 832.82 crore. The ratio fell because its year-end outstanding balance jumped from about Rs. 59 crore to Rs. 202 crore. In other words, the queue of claims still being processed swelled faster than payouts on a fast-growing book – it does not mean National paid less. That said, an 8.85-point drop in one year is large, so it is fair to watch the next annual report and to ask about settlement timelines before you commit.
Plans Available (FY 2081/82)
Endowment: Jeewan Shree Amrit (flagship)
National’s main savings-plus-protection plan (full name Jeewan Shree Sabadhik Amrit), and one of a wide menu of “Amrit” endowment plans it sells – others include Dampati Amrit (a couples plan), Bachat Amrit, Sanjivani Sawadhik Amrit, and the endowment-cum-whole-life Jeevan Amrit. 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 National Life’s own site.
- Endowment bonus (FY 2081/82): Rs. 64 to Rs. 85 per 1,000 sum assured per year – the highest range in Nepal
- Riders available: Accident, Critical Illness, Disability
- Policy loan: Yes, after 3 years | Surrender: Yes
Term: Saral Amrit (flagship)
Pure life protection – the highest cover for the lowest premium. National also offers Baideshik Rojgar Jeevan Beema, a term plan aimed at Nepalis in foreign employment.
Whole Life: Amrit Shree (flagship)
Long-term cover that pays the sum assured plus bonus at the end of the premium term while life cover continues – National lists this as an anticipated-endowment-and-whole-life plan. Its Jeevan Amrit plan also combines endowment with whole-life cover.
Don't buy based on reviews alone. Compare claim ratios and IRR instantly.
Compare All PlansMoney Back: Amrit Barsaha (flagship)
An anticipated-endowment / money-back plan that returns part of the sum assured at fixed intervals during the term. (Note: “Amrit Barsaha” is National’s money-back plan, not its endowment – a common mix-up.) National also runs Bal Bhagyodaya and an Amrit Shree money-back variant.
A Note on Bonus Rates
National Life’s declared endowment bonus for FY 2081/82 is Rs. 64 to Rs. 85 per 1,000 sum assured (dual-sourced from Beemapost and Insurance Khabar) – the highest endowment range of any Nepali insurer, and National’s clearest selling point. Its other plans carry their own declared rates, so confirm the bonus for the specific plan and term you are buying. BonusExtra money declared annually by the insurer on top of your sum assured. Full definition → is only one factor; see how National compares on claims and financial strength in our comparison of all 14 companies.
Who Should Choose National Life?
Choose National Life if:
- You want the highest endowment bonus in Nepal (Rs. 64 to Rs. 85 per 1,000) – no other insurer declares a higher range
- You value scale and financial backing – National is among the largest insurers, with a Rs. 89.91 arba life fund
- You want a Critical Illness rider, entry up to age 65, or a 30-year term
- You want a broad menu of “Amrit” savings and money-back plans
Consider alternatives if:
- Claim settlement is your top priority – Asian Life (98.85%), Sun Nepal (98.71%), and Prabhu Mahalaxmi (98.33%) rank well above National on the same measure
- This year’s sharp drop (93.40% to 84.55%) concerns you – it is worth confirming the trend reverses in the next NIA report before committing
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 National 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 National Life’s own website; bonus rates from Beemapost and Insurance Khabar. 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.