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A Study On Insurance Business

Of Nepal Life

Insurance Company Ltd.

A Field Work Report

Submitted by:

ABINASH THAPA MAGARSYMBOL No: 7500002

T.U Reg. No.:7-2-750-49-2009

Submitted To:

Himalaya College

Koteshwor, Kathmandu

TRIBHUVAN UNIVERSITY

In partial fulfillment of the requirements for degree of

BACHELOR OF BUSINESS STUDIES (B.B.S)

March 2013

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Acknowledgement

I am very much grateful to the Tribhuvan University authorities to include thefieldwork program in the syllabus of Bachelor of Business Studies (B.B.S) 3rd year,

which is very much helpful in developing practical knowledge of the students.

This project is basically prepared for partial fulfillment of the requirement for the

degree of Bachelor of Business Studies. This project report is based on the Nepal Life

Insurance Company. This report has helped me to expand my knowledge on insurance

sectors and various other activities related to insurance system of Nepal. During my

preparation of this report, many people have continuously helped me. I would like to

express my gratitude towards Mr. Deba Dhakal for his support and guidance in project

making process. I am heartily thankful to Mr. Ramkrishna Shrestha of NLIC to provideme the required information.

I had tried my best to minimize errors to the extent possible by consulting my various

books, supervisors, colleagues and organization. I hope my hard work will be rewarded.

I extend sincere gratitude and appreciation for generous and helpful comments and

valuable information delivered for the preparation of the report to all the respected

personnel.

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Abbreviation

NLIC Nepal Life Insurance Company Ltd

RGB Rastriya Beema Sansthani.e. - That is

F/Y Fiscal year

Rs. - Rupees

A/c Account

Estd - Established

Devt. Development

Table of Contains

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Page no.Chapter I

1. Introduction ..................................................................................... 1-13

1.1 Concept of Insurance ............................................. 1

1.2 Historical background ................................................... 2

1.3 Study of Life Insurance Business...................... 4

1.4 Problem of life insurance business in Nepal ............................ 5

1.5 An Overview On Nepal Life Insurance Company............... 7

1.6 Organizational Structure .............................................. 8

1.7 Types of insurance policies sold by NLIC ........................ 10

1.8 Objectives Of Study ............................................................. 11

1.9 Justification of study ........................................................... 11

1.10 Research methodology Limitation of study ..................... 121.11 Limitations of Study.. 12

Chapter II

2. Presentation of Data and Analysis .......................................... 14-16

2.1 Premium collection ................................................................ 14

2.2 Commission paid to Agents ...................................................... 15

2.3 Advertisement and publicity expenses done by NLIC ........... 16

2.4 Policies Issued by NLIC ........................................................ 182.5 Investment of fund done by life insurance department of NLI C 19

2.6 Balance Sheet of NLIC as On Asadh 2068. 20

Chapter III

3. Summary, Conclusion and Recommendation .................. 17-183.1 Summary ................................................................................. 22

3.2 Conclusion .............................................................................. 23

3.3 Recommendation .................................................................. 23

Bibliography ..... 25

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List of Tables

Table no. Page no.

1. Table showing the premium collection 14

2. Table showing the commission paid to agents . 15

3. Table showing the advertisement and publicity expenses . 17

4. Table showing the no. of polices issued .... 18

5. Table showing the investment of fund ... 19

6. Table showing Balance sheet of NLIC as on Asadh 2068. 20

List of Figures

Figure no. Page no.

1. Figure showing the premium income 14

2. Figure showing commission paid to agents .. 16

3. Figure showing the advertisement and publicity expenses.. 17

4. Figure showing the no of policies issued .. 18

5. Figure showing the investment of fund 19