These two invite comparison because of who stands behind them: Rastriya Jeevan Beema is the only government-owned life insurer in Nepal, and LIC Nepal is a joint venture in which Life Insurance Corporation of India holds 55%. Ownership is a reason people trust each of them. It is not the only thing that differs – the claim figures, the price and the published bonusExtra money declared annually by the insurer on top of your sum assured. Full definition → all point in different directions.
A note on the figures. Claims, life fund and market share come from the Nepal Insurance Authority (NIA) Annual Report for FY 2081/82. The claim ratio is one we derive from the NIA’s published claims-paid and claims-outstanding amounts (paid divided by paid plus outstanding); the NIA does not publish a per-company ratio, and the figure does not count rejected claims. Plan names and bonus rates are each insurer’s own, for FY 2081/82.
The short answer
| If this matters most to you… | Lean toward… |
|---|---|
| The higher derived claim ratio | LIC Nepal (92.69% against 89.94%) |
| A claim ratio that rose this year | Rastriya Jeevan Beema (up from 88.53%; LIC Nepal fell from 96.40%) |
| Government ownership | Rastriya Jeevan Beema |
| LIC of India as majority owner | LIC Nepal (55%) |
| The lower quote on the flagship endowment | Rastriya Jeevan Beema (Rs. 46,217 a year against Rs. 66,060, one profile, July 2026 – see section 3) |
| A declared bonus rate you can read today | LIC Nepal (Rs. 49 to Rs. 65 per 1,000 on its flagship endowment) |
| The larger insurer by premium and life fund | LIC Nepal (10.98% share, NPR 1.33 kharba) |
Side by side
| Rastriya Jeevan Beema | LIC Nepal | |
|---|---|---|
| Ownership | Government of Nepal | Joint venture – LIC of India 55% |
| Market share (premium) | 5.43% | 10.98% |
| Life fund | NPR 62.30 arba | NPR 1.33 kharba |
| Claim ratio FY 2081/82 (our derived) | 89.94% (rank #10 of 14) | 92.69% (rank #8 of 14) |
| Claim ratio FY 2080/81 (our derived) | 88.53% | 96.40% |
| Claims paid FY 2081/82 | Rs. 656.19 crore | Rs. 1,259.02 crore |
| Claims outstanding at year-end | Rs. 73.43 crore | Rs. 99.28 crore |
| Flagship endowment | Jeevan Surakshya | Jeevan Labh |
| Maximum entry age | 60 years | 60 years |
| Maximum policy term | 25 years | 25 years |
Factor by factor
1. Claim settlement
| Rastriya Jeevan Beema | LIC Nepal | |
|---|---|---|
| FY 2080/81 (derived) | 88.53% | 96.40% |
| FY 2081/82 (derived) | 89.94% | 92.69% |
| Paid, FY 2081/82 (Rs. crore) | 656.19 | 1,259.02 |
| Outstanding, end FY 2080/81 (Rs. crore) | 68.13 | 40.67 |
| Outstanding, end FY 2081/82 (Rs. crore) | 73.43 | 99.28 |
LIC Nepal is ahead on this measure, by a little under three points. The two moved in opposite directions this year. LIC Nepal’s outstanding balance rose from Rs. 40.67 crore to Rs. 99.28 crore, which took its ratio down from 96.40%. Rastriya Jeevan Beema’s ratio rose from 88.53% as its payouts grew faster than its outstanding balance. The published figures do not explain either movement, so neither is, by itself, evidence about how willingly a company pays.
One caveat belongs to Rastriya Jeevan Beema specifically: the NIA report notes that its accounts had not been audited when the figures were compiled.
Read the ratio for what it is. It is amount-based, so it is a share of rupees, not a count of families paid. It is a snapshot on the last day of the fiscal year, so a claim still inside its legal processing window sits in “outstanding” and pulls the number down. And it leaves out rejected claims altogether. Our claim settlement ratios guide prints both inputs for all 14 insurers.
2. Bonus rates
LIC Nepal’s declared FY 2081/82 rates are Rs. 49 to Rs. 65 per 1,000 sum assuredThe coverage amount your family receives on death — or you receive at maturity. Full definition → on Jeevan Labh, Rs. 50 to Rs. 55 on New Jeevan Tarang and Rs. 55 to Rs. 60 on its money-back plan, Dhan Vristi.
For Rastriya Jeevan Beema we hold no declared FY 2081/82 bonus range, so we print none. If bonus is central to your decision, ask the company for its latest declared rate on the plan you are considering, and get it in writing. A bonus is declared year by year and is not guaranteed at either insurer.
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Find My Plan →3. Price – one measured example
We read both insurers’ own online calculators in July 2026 for the same profile: age 35, a 20-year term, Rs. 10 lakh sum assured, yearly premiumThe regular payment you make to keep your insurance policy active. Full definition →, no riders. Rastriya Jeevan Beema’s Jeevan Surakshya quoted Rs. 46,217 a year. LIC Nepal’s Jeevan Labh quoted Rs. 66,060.
That is one profile on one day, for two plans that are not identical, and insurers count age slightly differently (last or next birthday), so treat it as an illustration and not a verdict – a higher premium can sit beside a different bonus or benefit structure. One practical note on term cover: LIC Nepal’s term plan, Amulya Jeevan, was quoted only from Rs. 25 lakh of cover upward when we read it. The premium calculator estimates all 14 insurers for your own inputs.
4. Entry age, term and riders
Both accept adult entry up to age 60 and write terms from 5 to 25 years. Both allow a policy loan and build a surrender valueThe amount you get back if you cancel your policy early. Full definition →. On riders, the plan pages we read in November 2026 list an accident benefit at both insurers, and a disability riderAn optional add-on benefit you attach to your base policy for extra protection. Full definition → at LIC Nepal; we found a critical illness rider on neither. A rider we did not find on the page we read may still be offered on another plan, so ask.
Which buyer should lean which way
Lean toward Rastriya Jeevan Beema if:
- Government ownership is what gives you confidence – bearing in mind it is reassurance about the institution, not a state guarantee on an individual policy
- A lower premium on the flagship endowment matters, and you have checked the quote for your own profile
- You are comfortable asking the company directly for its current bonus rate
Lean toward LIC Nepal if:
- The claim figure matters most to you – it is higher (92.69% against 89.94%), though it fell this year
- You want a declared bonus rate you can read before you buy
- Having LIC of India as majority owner is what reassures you
The bottom line
This is a choice between two kinds of backing, and the numbers do not all point one way: LIC Nepal leads on the claim figure and size, Rastriya Jeevan Beema on the measured price and on this year’s direction. Decide which of those you are buying for, then put both side by side in Compare Plans with your own age, sum assured and term – and look at the other twelve while you are there.
Data sources: NIA Annual Report FY 2081/82, Schedules 14 (claims paid) and 15 (claims outstanding), for claims; the same report for market share and life fund. The report’s own footnotes mark the FY 2081/82 figures as unaudited, and note that Rastriya Jeevan Beema’s accounts had not been audited. The claim ratio is our own amount-based derivation. Bonus rates are each insurer’s declared FY 2081/82 rates per Rs. 1,000 sum assured; a bonus is declared year by year and is not guaranteed. The premium figures are quotes read from each insurer’s own online calculator in July 2026 for one profile, shown for illustration only – they are not an offer, and the two plans differ in structure. Full disclaimer.