LIC-Nepal declares bonus

KATHMANDU: Life Insurance Corporation (Nepal) Ltd has increased bonus from 54 to 70 per cent. The rates depend on time frame of the policy. A policy above 25 years will get 70 per cent bonus whereas a policy between 20 and 24 years wil get 55 per cent. A policy between and five to nine years wil get 52 per cent. “It is one of the highest bonuses in Nepali insurance sector,” LIC Nepal claimed. According to unaudited data, the company collected a premium of Rs 321.5 million from 52,000 policy holders in year 2008-09. It has done its evaluation according to the Insurance Board’s directive.