NLIC Premium Collection Centre & guidelines

a View of NLIC's Ninth Annual general Meeting
NLIC
Security and Prosperity
PREMIUM COLLECTION CENTERS
Dea Customers you can pay your premium at NLIC Branches as well as following Banks and Finance companies

• Bank Asia, Bhaktapur, Chhetrapati, Kalanki, Lalitpur, New Road, Tripureswor, Boudha, Smakhushi, Mahargunj, Bagbazar, Kausaltar Birgunj Finance Ltd., Kamaladi Central Finance Ltd., Kupondel, ChabahilGuheshwori Merchant Banking & Finance Ltd., Lalitpur, ChabahilMahalaxmi Finance Ltd., Putali SadakN.D.E.P. Bank Limited, Kamaladi, Koteshwor National Finance Ltd., New RoadSurya Darshan Finance Ltd., New-BaneshworSwastik Merchant Finance Ltd., New Road
  
  
  The Corporate Office and branch offices
• Whom to approach for insurance
  Insurance proposals are accepted by 'Branch Offices', 'Sales centres' and 'Corporate office' of the company. One can, therefore, always approach these offices for purchasing insurance on one's life. The marketing officials of the corporate office, 'Branch Manager' and 'Agency Manager' will be ever ready to help.
• Basic requirements for insurance
  For buying insurance on any one's life the proposer should have insurable interest on the life of the assured. Insurable interest cannot be determined in terms of moral responsibility of one person for the other. It is determined by the monetary loss one will have to bear in case of death of the other. Some example of insurable interest are given below.
• One's on his own life।
• Husband and Wife on the life of each other।
• Parents and Children on the life of each other.
• Employer on the life of employees.
• A lender on the life of a debtor.
• Business partners on the life of each other equal to the partner's investments in business.
• Apart from the insurable interest the proposer should be Legally competent to enter into a contract.
• Financially capable to pay premium for the "Sum Assured Proposed". And there should not be any thing adverse in his 'Health', 'Habit', 'Occupation' However, insurance can be given by charging extra-premium if there is anything adverse in health, habits and occupation within the permissible parameters.
  
• On fulfilling the above eligibility conditions one has to submit the following requirements for obtaining insurance
  +Proposal form, Personal statement of health +Age proof +Medical report and special medical and pathological reports depending on the sum proposed +personal history and family history + Proof of income if the sum proposed is large + Deposit amount equal to first premium +Previous insurance particulars +Particulars of insurance on the life of husband if the life to be assured happens to be of wife does not have earned income and of parents if he/she is a minor.
• Basic requirements for insurance
  1. Premium should be paid within grace period of 30 days. It is however, accepted up to 6 months by charging interest. Thereafter premium is accepted only after evidence of good health and medical reports are submitted and found in order. Within first two years of policy it is necessary to pay the premium within grace period of 30 days for risk cover.
  2. It is advisable that nomination is made at proposal stage itself. If it is not made then it can be made subsequently also. If the nominee is a minor, appointment of appointee should be made. Nomination can be changed or cancelled anytime.
  3. Duplicate policy can be issued on payment of policy preparation charges and fulfilling the legal requirements. It is advisable that Policy Bond is kept in safe custody.
  4. Age admission is necessary as premium is based on age. If age has not been admitted at proposal stage it should be got admitted at the earliest, so that there is no delay in claim payment.
  5. Policy bond, discharge form and last premium receipt have to be submitted for maturity claim payment.
  6. For surrender value and loan payments also policy bond is necessary. Application of the policy holder, discharge form and last premium receipts also are required. In case of loan, loan agreement also has to be executed.
  7. For death claim payment we require an intimation of death by the nominee/legal heir, death certificate, certificate of cremation, death claim form and discharge voucher. In case of early death within two years of commencement of policy or revival of policy, some additional requirements also are called for, such as attending Doctor's report, hospital report, employer's certificate etc. 8. Succession particulars and/or certificate is required if there is no nomination or the nominee has expired. If there are rival claimants the company will go by the judgment of a court of competent jurisdiction.

POST by Bijay Thapa. बिजयlifeinsurance.blogspot.com