Overview
Founded in 1968, Rastriya Jeevan Beema Company Limited (Formerly Known as Rastriya Beema Sansthan) stands as a testament to the Government of Nepal's commitment to bolster its nation's economic stature. This organization was meticulously crafted not just as a separate life insurance company, but as a beacon to drive national progress, harnessing internal assets, and judiciously managing foreign currency expenditures.
Key Milestones:
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Establishment: Initially sprung to life as a private entity on Poush 1, 2024 BS, it soon metamorphosed into a formidable institution by Poush 1, 2025, courtesy of the National Insurance Institute Act 2025.
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Objective: At its heart, its ambition is twofold: firstly, to mobilize domestic resources and capital for Nepal's economic ascent and secondly, to meticulously curb any unwarranted foreign currency outflows.
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Business Commencement: It took its maiden steps in the non-life insurance realm on Falgun 11, 2024 BS, and subsequently embarked on its life insurance voyage on Falgun 7, 2029 BS.
Life Insurance Explained: Life, in all its unpredictable glory, underscores the necessity for security, and this is where life insurance emerges as a linchpin. While the sanctity of human life remains unparalleled, life insurance offers a cushion against unforeseen tragedies. Here's why it matters:
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Family Security: The sudden demise or incapacitation of a family's breadwinner can usher in financial turmoil. Life insurance ensures that such tragedies don't translate into financial instability.
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Future Planning: From safeguarding a child's future to ensuring comfort in the twilight years, life insurance emerges as a trustworthy companion. A small fraction of today's earnings can pave the way for a secure tomorrow.
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Loan Protection: Employees often resort to loans for various needs. Through life insurance, they can safeguard the future against any loan liabilities.
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Tax Benefits: It's not just about protection and assurance. Life insurance also extends fiscal perks. For instance, one can avail income tax exemption on insurance premiums, with benefits extending up to 40,000 on the income tax on life insurance.
A Suite of Insurance Offerings: Rastriya Jeevan Beema Company Limited boasts a diverse portfolio to cater to myriad needs:
- Endowment Life Assurance
- Children’s Marriage and Education Endowment Life Assurance
- Anticipated Endowment Life Assurance
- Whole Life Assurance
- Jeevan Surakshya
- Bal Umanga
- Joint Life Plan ‘Jeevan Sathi’
- Children’s Plan ‘Watsalya’
- Term Life Assurance and Jeevan Bandhu
- Group Endowment Life Assurance
Rastriya Jeevan Beema Company Limited stands as a paragon of the Government of Nepal's vision, not only meeting but also exceeding its stipulated objectives, delivering value, and ensuring high returns for its stakeholders. It's not just an insurance provider; it's a nation's promise to its people.
