Nepal Life offers up to 100% late fee waiver on lapsed policies

KATHMANDU: Nepal Life Insurance Company Limited has announced a special reinstatement scheme offering up to 100% waiver on late fees for lapsed insurance policies, marking its 25th anniversary.

The initiative, introduced under its “Special Insurance Reinstatement Plan 2082/083,” will run from 2083/01/07 to 2083/02/05.

The company aims to revive lapsed policies and strengthen financial protection for policyholders affected by economic challenges.

According to the company, many insurance policies have become inactive due to financial difficulties, and this scheme is designed to help policyholders restore coverage by making renewal payments more accessible.

This is the first time the insurer has introduced such a significant waiver on lapse penalties during its silver jubilee year. The 30-day campaign is expected to encourage a large number of policyholders to reactivate their insurance coverage and continue long-term financial protection.

Nepal Life Insurance, one of the country’s leading life insurers with around 30% market share, has been serving millions of families over the past 25 years. The company operates through a nationwide network across all 77 districts and a strong base of over 69,000 agents.

Chief Executive Officer Praveen Raman Parajuli said the initiative reflects the company’s customer-first approach.

“Policy lapses often occur due to various financial circumstances. This scheme is designed to bring customers back under insurance protection and ensure their financial security,” he said. “We urge all policyholders to take full advantage of this opportunity to safeguard their future and their families. Nepal Life will always remain a trusted partner in your financial journey.”