Insurance Board Directs To Issue COVID-19 Insurance Scheme

April 16, 2020 | Investopaper

Insurance Board on Thursday directed all non-life insurance companies to issue coronavirus insurance scheme in view of coronavirus.

The scheme aims to cover low income people affected by COVID-19, said the Committee’s executive director Raju Raman Poudel referring to 16 people found infected with the virus so far and its increasing risks.

Stating that insurance policy for fatal diseases would be as per the scheme, the Committee has directed its categorisation into ‘A’ and ‘B’.

A person is charged Rs 1,000 as insurance fee to register for the scheme worth up to Rs 100,000 per person. In case, all members of a family register, Rs 600 is charged as insurance fee.

Likewise, the committee has introduced another insurance scheme worth Rs 50,000 per person. To register for the scheme, a person for individual insurance plan is charged Rs 500 as insurance fee and all members of a family Rs 300 per person.

Also Read: Best Non-Life Insurance Companies In Nepal


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