Best Life Insurance Companies in Nepal 2022


For this uncertain and unpredictable life, people daily work hard and make future planning. There is a hard time for most Nepalese whenever someone from a family member demise. The sudden demise of the near one leaves other family members in emotional and financial crisis. For, these hard times there comes a good plan for your family’s security, by covering yourself with the right Life insurance and Life insurance companies. 

Simply, the Insurance provides a dedicated amount of money at the tie of death of the Insurance policyholder or a certain amount of time. It seems to be the best and most necessary thing an individual can have for the steady future of their family members in their absence. In the context of Nepal, there are 25 registered insurance companies at present time. Where 8 companies are private commercial life insurers, 16 are private commercial non-life insurers, and the remaining 1 is a composite insurer (i.e., Rastriya Beema Sansthan).

What is Life Insurance?

In simple words, life insurance is a contract signed between the insurance company and the insurance policyholder. As per this contract, the insurer signed to pay a sum of money in exchange for a premium, for a certain period or after the demise of the policyholder.

Life Insurance Situation in Nepal

There is a good thing that the growth of the insurance business in Nepal is rapidly growing. Most peoples cover themselves and their family members with good life insurance after the Covered-19 situation, where health and money crises became the most common thing today, more than 30 percent of the nation’s population has been already covered with some kind of Insurance. However, in developing countries like Nepal, there is a high capital risk in the majority of people’s life due to time-to-time natural disasters, road accidents, and many more. Covering yourself with the right Life insurance seems essential.

Top Life Insurance Companied with their Claim Settlement Report.

Insurance Companies with their Claim Settlement Ratios
Insurance Companies with their Claim Settlement Ratios

For the country of Nepal, life insurance has become a most essential service for people after a few years of Covid-19 and its effect. If you want to know some of the best Life Insurance companies with their claim settlement ratios look below the table.

Best Life Insurance Companies in Nepal

We have listed some of the best Life Insurance Companies in Nepal (2021-22) based on the Claim Settlement Ratio (CSR) along with customer satisfaction level and after-sale services.

1) L.I.C. Nepal (Life Insurance Corporation Nepal Limited)

L.I.C. Nepal acquires top of the list of best life insurance companies in Nepal. The company started its services and came into existence in 2001 and is one of the largest non-bank private sector insurance companies in Nepal. This company is owned by L.I.C of India, Vishal Group of Nepal, and the general public.

The Claim settlement ratio of L.I.C Nepal is 98.49% in the Life insurance industry of Nepal. This ratio seems pretty satisfactory to the policyholders in Nepal and makes it one of the best life insurance companies in Nepal.

Check their services through their official website www.licnepal.com.np. The head office of L.I.C Nepal is in Kathmandu, Nepal.

2) Prime Life Insurance

One of the fastest-growing insurance companies, Prime life formed in June 20007. However, the promoters hold 70% of the company and the general public holds a 30% share of the whole company. Prime Life has gained more than 17,25,499 policies over the 13+ years of its operation. The insurance company also provides insurance services from more than 150 establishments in the country.  

The company has a claim settlement ratio of 97.4% in the Life insurance industry of Nepal. Prime Life has gained a big position in the insurance market with fine growth in premium, sound business, great customer service, and assurance of good returns.

The company headquarter is located in Hattisar, Kathmandu. You can also check out their services through their official website www.primelifenepal.com.

3) National Life Insurance

Incorporated in 1988 A.D., National Life Insurance Company Limited also known as National Life & General Insurance Co. Ltd. in past days. With the belief in high-level customer service National life insurance has built a massive reputation in Nepal’s insurance industry. For more than three decades, the company centered to build great financial freedom for everyone. The company is committed to the highest level of ethics & integrity.

The Claim settlement ratio of the National Life Insurance company is 93.02% in the Life insurance industry of Nepal. Moreover, the company makes sure to provide a high level of customer satisfaction with professionalism, transparency, great policy, honesty, customer service, etc.

The head office of the National Life Insurance company is in Lazimpat, Kathmandu, Nepal. To check out the services of this company you can visit their official website www.nationallife.com.np.

4) Nepal Life Insurance

Came into existence in 2001 A.D. Nepal Life Insurance company has been successful to maintain its reputation as one of the most promising and most extensively recognized insurance companies in Nepal.  For more than two decades the customer-centric approach and powerful bancassurance and well distribution channels have made it one of the best life insurance companies in Nepal. 

The Nepal Life Insurance company has a claim ratio of 92.16% of the Life insurance industry in Nepal. With the most trustable value gained by the company, it remained to gained major popularity in the life insurance industry of Nepal.

The head office of Nepal Life Insurance is in Kamaladi, Kathmandu, Nepal. To know more about their services and policies check their official website www.nepallife.com.np.

5) Asian Life Insurance

Asian Life Insurance came into existence in February 2008 under the Insurance Act 2049 from Beema Samiti. The authorized capital of the company is a total of Rs. 5 billion which is divided into 60% for the promoter and 40% for the general public. No doubt the company gained value in the Nepal life insurance market by providing quality customer services and a variety of insurance policies.

The claim ratio of the Asian Life Insurance company is 90.96% in the Life insurance industry. Most Nepalese found this company as a reliable insurance company for them and their loved ones.

The head office of this company is in Maitidevi, Kathmandu, Nepal. To know more about their exciting insurance policies and services you can visit their official website www.asianlife.com.np.

6) Surya Life Insurance

Surya Life Insurance company came into existence in March 2008. The company has an authorized capital of NRs 300 crores and total paid-up capital of NRs 255.03 crores. The Surya Life company is owned 51% by promoters and the rest 49% by the general public. Besides this, they also made a reinsurance arrangement with Nepal Reinsurance Co. Ltd.

The Claim settlement ratio of the Surya Life Insurance company is 89.44% in the Life insurance industry of Nepal. 

The head office of Surya Life Insurance is in Sano Gaucharan, Kathmandu, Nepal. To know more about their policies and services visit their official website www.suryalife.com.

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7) Rastriya Beema Sansthan

Established by the Government of Nepal, Rastriya Beema Sansthan was established in 2024 B.S. The Sansthan provides a variety of insurance services in different categories. Rastriya Beema Sansthan has a major role in the overall mobilization of internal resources and investment in Nepal. It can also be said to be the backbone of the life insurance industry in Nepal. Rastriya Beema Sansthan provides both life and non-life insurance policy services in Nepal currently.

Rastriya Beema Sansthan has a claim settlement ratio of 76.75% in the Life insurance industry. Similarly, Sansthan provides overall satisfaction to the customers with fewer risks.

The Sansthan is located in RamShah Path, Kathmandu, Nepal. To get more information about the Rastriya beema Sansthan and their life insurance policies you can visit the official website of their www.rbs.gov.np.

8) Gurans Life Insurance

Established and operated in 2064 B.S, Gurans Life Insurance Co. Ltd. is promoted by the Dugar Group, Sunrise Bank Ltd, along with a group of various businessmen, Legal professionals, and industrialists. The total authorized capital of the company is 200 crore. 51% of the capital is subscribed by the promoters and the rest of 49% is owned by the general public. With the vision of developing the company as a major entity in helping in both the social and financial sectors, Gurans life insurance marked its place in many peoples of the country. 

The Claim ratio of the Gurans Life Insurance company is 60.7% in the Life insurance industry of Nepal. Moreover, the company has also made a reinsurance arrangement with Score Re Global Life SE Singapore and Nepal Re-Insurance Co. Ltd.

The head office of Gurans Life Insurance is located in Tinkune, Kathmandu, Nepal. To find out more about the company’s amazing policies and services visit its official website www.guranslife.com.

Top Insurance Company in Nepal

Best Life Insurance Companies in Nepal list

Note: All the Life Insurance companies mentioned in the above list are based on their high claim settlement ratio, great customer satisfaction level, and after-scale services.

How to Find the Best Life Insurance Company in Nepal

  • Take the help of the internet and do some research.
  • Look at the customer care service of the particular insurance company.
  • Find out the numbers of Network Hospital.
  • Track the CRS report of a particular company for the last 5 years.
  • Check as many reviews and feedback from the customers about the company.