What is Insurance, Types of Insurance and Different insurance companies in Nepal

Admin
23 Jan, 2018
1

Insurance

Insurance is a term in law and economics. It is something people buy to protect themselves from losing money. People who buy insurance pay a "premium" (often paid every month) and promise to be careful (a "duty of care"). In exchange for this, if something bad happens to the person or thing that is insured, the company that sold the insurance will pay money back. An insurance policy is a contract that says what is insured and what the insurer and the insured must do.
Types of insurance
  1. Life Insurance
Life insurance is a contract between the insured person and the company that is providing the insurance. It is a protection against the loss of income that would result if the insured passed away. There are various benefits that can be realized through the life insurance. Some of them are:
Mortgage Protection, protection against disabilities, children’s education, tax relief, marriage expenditure etc.
Life insurance is again categorized into different types.
  • Term life insurance
Term life insurance stays in effect for a specified period or until a certain age of the insured.
  • Whole Life insurance
Whole life insurance normally covers an individual until his or her death, unless it lapses due to non-payment of premium or is cancelled.
  1. Non Life Insurance
It is also known as General Insurance. Insurance mainly concerned with protecting the policy holder from losses or damaged caused by specific risk.
The categorization of non life insurance is dependent upon the need level.
  • Property/casualty Insurance
  • Health and Disability Insurance
  • Business and Commercial Insurance

Various types of non life insurance are commercial, marine, aviation, agriculture, health, financial, engineering insurance, travel insurance, home insurance etc.

Insurance Company in Nepal

Insurance Company in Nepal began with the establishment of Rastriya Beema Sansthan. After then many insurance companies are established in Nepal. Insurance companies in Nepal covers both life and non life insurance policies.

List of Insurance Company in Nepal

  1. Type: Life and Non Life Insurance
    Address: R.B.S. Building, Ramshahpath Kathmandu 
    Contact: 01-4262520
    Fax No.: 01-4262610
    Email: beema@wlink.com.np
  2. More details of National Life Insurance
    Type: Life Insurance
    Address: P.O.Box No. :4332, Narayanchour Kathmandu 
    Contact: 01-4414799
    Fax No.: 01-4435633
    Email: nlgilife@mail.com.np
  3. Prime Life Insurance
    Type: Life Insurance
    Address: P.O.Box No: 25979, Hattisar Kathmandu,Nepal 
    Contact: 977-1-4441414
    Email: info@primelifenepal.com
  4. Nepal Life Insurance
    Type: Life Insurance
    Address: Heritage Plaza-1, 2nd Floor, Kamaladi Kathmandu, Nepal. 
    Contact: 01-4169082/4169083
    Fax No.: 01-4169079
    Email: nlic@mos.com.np
  5. Type: Life Insurance
    Address: Kathmandu Plaza, Kamaladi Kathmandu,Nepal 
    Contact: 01-4168537/4168539
    Fax No.: 01-4168538
    Email: ceo@licnepal.com.np
  6. Type: Life Insurance
    Address: Narayani Complex, Pulchowk Lalitpur 
    Contact: 01- 5555166
    Fax No.: 01-5555173
    Email: service-nepal@metlifealico.com
  7. Type: Life Insurance
    Address: ASIAN LIFE BHAWAN, KMPC-33, Maitidevi Kathmandu 
    Contact: 01-4410115
    Fax No.: 01-4442138 
    Email: asianlife@asianlife.com.np
  8. Type: Life Insurance
    Address: Shree Raj Bhawan, Tinkune Kathmandu 
    Contact: 01-4465810, 4465852
    Fax No.: 01-4465861
    Email: info@guranslife.com
  9. Type: Life Insurance
    Address: HAN Building -2nd Floor, Gairidhara Kathmandu 
    Contact: 01-4423743,4419565
    Fax No.: 01-4004583
    Email: info@suryalife.com.np
  10. Type: Non-Life (General Insurance)
    Address: NIC Building Kulratna Marg, Kamaladi Kathmandu, Nepal. 
    Contact: 01-4221353,4228690
    Fax No.: 01-4225446
    Email: nic@wlink.com.np
  11. Type: Non-Life (General Insurance)
    Address: Jyoti Bhawan,1st Floor Kathmandu,Nepal 
    Contact: 01-421448/4241960
    Fax No.: 01-4223419
    Email: oriental@wlink.com.np
  12. Type: Non-Life (General Insurance)
    Address: KKM Building (2nd Floor), Tripureshwor Kathmandu, Nepal 
    Contact: 01- 4260366, 4250710
    Email: info@nicnepal.com
  13. Type: Non-Life (General Insurance)
    Address: Head Office: HGI house,Babar Mahal Kathmandu, Nepal 
    Contact: 01- 4231788, 4213014
    Email: ktm@hgi.com.np
  14. Type: Non-Life (General Insurance)
    Address: Trade Tower, Thapathali Kathmandu, Nepal 
    Contact: 01-5111111
    Fax No.: 01-5111112
    Email: uic@mail.com.np
  15. Type: Non-Life (General Insurance)
    Address: Narayen Chaur, Naxal Kathmandu, Nepal 
    Contact: 01-4413543, 4439358,
    Fax No.: 01-4413442
    Email: premier@picl.com.np
  16. Type: Non-Life (General Insurance)
    Address: Hattisar, P. O. Box 10675, Kathmandu, Nepal 
    Contact: 01-4425758, 4444717
    Fax No.: 01-4444366
    Email: info@eic.com.np
  17. Type: Non-Life (General Insurance)
    Address: Anamnagar Kathmandu, Nepal 
    Contact: 01-4770127, 4770415
    Fax No.: 01-4770162
    Email: info@necoinsurance.com.np
  18. Type: Non-Life (General Insurance)
    Address: Bhagawati Marg, Naxal Kathmandu Nepal 
    Contact: 01-4412367
    Fax No.: 01-4412378
    Email: sagarmatha@insurance.wlink.com.np
  19. Type: Non-Life (General Insurance)
    Address: P.O.Box: 10811, Tinkune Kathmandu, Nepal 
    Contact: 01-4499220, 4499226
    Fax No.: 01-4499647
    Email: info@allianceinsurance.com.np
  20. Type: Non-Life (General Insurance)
    Address: Shanta marga, Kamaladi Kathmandu, Nepal 
    Contact: 4224312, 4224289
    Fax No.: 01-4224254
    Email: nbic@mos.com.np
  21. Type: Non-Life (General Insurance)
    Address: Triveni Complex (2nd Floor), Putalisadak Kathmandu-31, Nepal 
    Contact: 01-4212940(Hunting)
    Fax No.: 01-4219527
    Email: prudential@wlink.com.np
  22. Type: Non-Life (General Insurance)
    Address: Shikhar Biz Centre, Thapathali Kathmandu Nepal 
    Contact: 01-4246101, 4246102
    Fax No.: 01-4246103
    Email: info@shikharinsurance.com
  23. Type: Non-Life (General Insurance)
    Address: P.O. Box: 23100 Gyaneshwor, Kathmandu 
    Contact: 01-4411707/4412004
    Fax No.: 01-4411692 
    Email: lgic@mos.com.np
  24. Type: Non-Life (General Insurance)
    Address: Siddhartha Insurance complex, Babarmahal Kathmandu 
    Contact: 01-4257766, 4256190
    Fax No.: 01-4257776
    Email: info@siddharthainsurance.com
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1 Comments
  • Unknown
    Unknown May 1, 2018 at 9:59 PM

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