Nabil Bank and MetLife Insurance make pact

November 25, 2018 | Investopaper

Nabil Bank Ltd. (NABIL) has tied up with MetLife Insurance to provide an insurance scheme called ‘Nabil Care’ to the bank’s depositors.Following the agreement that these two organisations reached today, Nabil Bank’s individual savings account holders will get critical illness insurance facility of Rs 300,000 and term life insurance of Rs 75,000. However, only account holders between the ages of 16 and 64 years will be eligible to be covered in this scheme while they also should have at least Rs 25,000 of daily balance in the savings account.

The agreement was signed between Ramesh Prasad Lohani, deputy general manager of Nabil Bank and Chief Operation Officer of MetLife Insurance Ram Kumar Yadav. The critical illness insurance facility will cover 13 different diseases including cancer, heart-attack, kidney disease, lungs disease, stroke, heart valve surgery and bone marrow transplant, among others. In case such account holders die of any cause, they will get additional Rs 75,000.

Meanwhile, the bank informed that those who already have savings accounts with a balance of Rs 25,000 will be eligible for the aforementioned facility. However, such beneficiaries should maintain the minimum balance from the first day of Nepali month till the last day of the month. Anil Keshary Shah, CEO of Nabil Bank, said the insurance scheme would facilitate account holders for treatment of critical diseases mentioned above as it is expensive in Nepal.

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