MetLife Nepal announces bonus rate for the fiscal year 2076-77
American Life Insurance Company (MetLife) has announced the bonus rate for the fiscal year 2076/77.
The company has announced a bonus rate of Rs 45 to Rs 80 per thousand per annum for all life insurance policies that are profitable.
The bonus rate has been determined according to the actuarial valuation from July 17, 2019 to July 15, 2020, the company said.
At the same time, according to the new bonus rate, the company will give a bonus rate of Rs 60 to 80 per thousand in term life insurance.
The bonus rate for this plan is Rs 60 per thousand for a period of 1 to 15 years, Rs 70 per thousand for a period of 16 to 20 years and Rs 80 per thousand for insurance policies of 21 or above.
Similarly, Rs 60 for 1 to 15 years, Rs 70 for 16 to 20 years and Rs 80 for 21 or above insurance has been fixed for education protection insurance, the company said.
Similarly, the insured will also get a minimum of Rs 45 to a maximum of Rs 65 in the form of advance payment term insurance.
The insurance policy has fixed a bonus rate of Rs 45 for 1 to 15 years, Rs 55 for 16 to 20 years and Rs 65 for 21 or above.
In addition, these bonus rates will apply to death claims, surrender value claims, paid value claims, term payment claims and current insurance policies.
The company has stated that this bonus rate will be implemented until another arrangement is approved by the Insurance Committee.