Liberty Micro Life Insurance Commences Operation

December 24, 2023 | Investopaper

Liberty Micro Life Insurance Limited, a company authorized to conduct micro life insurance operations, has officially commenced its services. The inauguration took place at its New Road office in Pokhara, with Surya Prasad Silwal, Chairman of the Nepal Insurance Authority, officiating the event on Friday.

The company was registered on Poush 17, 2079 B.S., and subsequently obtained a micro life insurance business license from the Nepal Insurance Authority on Ashwin 19, 2080 B.S.

Presently, Liberty Micro Life Insurance Limited has introduced two insurance plans: the ‘Samridddha Kavach Term Life Insurance Scheme’ and the ‘Samridddha Bhabishya Micro Life Insurance Scheme.’ These plans offer coverage ranging from a minimum of 25,000 to a maximum of five lakhs, with insurance periods of 5, 10, 15, and 20 years.

Additionally, the company has implemented a term insurance option, requiring an annual payment of Rs. 132. In the unfortunate event of the insured individual’s demise within the first year, the family is entitled to receive one lakh rupees.

The company has an authorized capital of  Rs. 1 billion, with an issued capital of Rs. 750 million.


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