FAQ

आई.एम.ई लाइफ

Agency Service

1. How can I become an agent at IME Life?

• Be a Nepali citizen.
• Have an educational qualification of Grade 12 (+2) or above.
• Contact the nearest branch office of our company that is convenient for you, or visit the company website and fill in your details through the “Become an Agent” portal. Become an Agent . Our representative will contact you at a suitable time.

2. What is Basic Agent Training (BAT)?

Basic Agent Training (BAT) is a minimum 17-hour foundational training program provided for individuals who wish to become insurance agents. It includes: • Online Exam Process
• Agent Licensing Process
• Basic knowledge of life insurance
• Life Insurance sales process
• Customer service
• Ethics and regulations
• Information about life insurance products
• These topics are taught during the training program

3. Why is Basic Agent Training important?

The regulatory body of the insurance sector, the Nepal Insurance Authority, has made it mandatory for individuals to complete a minimum 17-hour informational training on insurance before becoming an insurance agent. Therefore, we must complete the Basic Agent Training (BAT).

4. How long does the Basic Agent Training program take?

The Basic Agent Training (BAT) can be conducted over 3 to 4 days by covering the minimum 17 hours of training, with sessions lasting approximately 5 to 6 hours per day.

5. What is the cost of Basic Agent Training?

For this, please contact the nearest branch offices of the company.

6. Who is eligible to enroll in Basic Agent Training?

Generally, applicants must:
• Meet the minimum +2 educational qualification
• Be recommended or enrolled through insurance company.
• Complete the required training attendance.
Under updated regulations, new applicants are generally required to have completed Grade 12 (previously SEE/SLC).

7. What documents are required to apply for a personal license?

Commonly required documents include:
• Citizenship copy
• Passport-size photographs
• Educational certificates (+2/12)
• Training completion certificate
• Online Exam pass certificate
• PAN No.
• Recommendation letter from insurance Company
• Online application form

8. What documents are required to apply for a corporate license?

• Company registration certificate
• PAN
• Memorandum/Articles of Association
• Qualification documents of Corporate Representative (High Level Management Staffs)
• Tax clearance
• Certificate of Not Being Blacklisted
• Application form
Corporate applicants must also satisfy additional regulatory criteria.

9. What is the exam process for License?

Documents Apply
OTP and Link Received in Mobile No.
Validate OTP and Login further
As per Nepal Insurance Authority Rules.

10. How can I register for the online exam?

As per Nepal Insurance Authority Rules.

11. What is the fee for the online exam?

The online exam fee for Rs. 500 only.

12. What instructions should be followed during the online exam?

Candidates must:
• Keep camera/video ON throughout the exam.
• Ensure face is clearly visible.
• Keep microphone active if instructed.
• Avoid cheating or misconduct.
• Use stable internet and functioning devices.
Violation of exam conduct may result in suspension/disqualification.

13. How can I check my online exam results?

Results are generally published through the NIA Website after the examination is over.

14. What should I do if there is a technical issue during the online exam?

You should:
• Immediately contact to concern department through the Branch
• Follow instructions from exam invigilators.
Minor technical problems may affect participation, so stable connectivity is strongly recommended.

15. What is the fee for a agent license?

• Personal Agent License fee: Rs. 2,500 Only.
• Corporate Agent License Fee Rs. 10,000 Only

16. When and how can a personal/Corporate license be renewed?

The agent license remains valid for 3 years from the date of issuance. After 3 years, it can be renewed by paying the fee prescribed by NIA and fulfilling other required conditions. For further information, you should contact the respective company

17. When and how are fines applied to a personal license renewal?

The agent license automatically becomes inactive after 90 days from the expiry date of the renewal period. The agent license can be renewed within 90 days after the expiry date by paying a fine. The penalty fee is NPR 1,000.”

18. Which payment gateway can be used to pay license fees?

The Authority allows payment through electronic payment gateways: Khalti By IME, Connect IPS, eSewa etc.

19. How and when is commission paid to agencies?

• Commission is generally calculated once a month according to the percentage prescribed by the NIA and paid to the respective agent through digitally.

20. How can agencies learn about available schemes?

Agencies can learn about schemes through:
• Insurance company branch offices
• Official notices/circulars
• Training programs
• Internal sales meetings

21. When should I renew my license?

You should renew your license before its expiry date.

Policy Service

Application Process

1. What is the eligible age to apply for a life insurance policy?

Child Plan: Can be purchased from 0 years of age. However, risk coverage starts from 6 years of age.
Other Plans: The applicant must be 18 years or above to purchase a life insurance policy.

2. How do I apply for a life insurance policy?

You can apply for a life insurance policy through a licensed insurance agent or directly by yourself.

3. What information do I need to provide during the application?

You need to provide some basic information, such as:
Personal details - Citizenship, National ID, Birth Certificate, etc.
Health information – Your medical and health history.
Occupation details – Your job or business information.
Financial information – Details about your income and source of income.

4. Will I need a medical exam?

Not always. A medical exam may be required depending on the Sum Assured and the applicant’s details.

5. Can I get life insurance if my medical examination is normal?

Yes. If your medical examination is normal, you may be eligible for life insurance, subject to the company’s underwriting assessment.

Policy Management

1. How do I make changes to my policy?

You can contact our Customer Service Department about policy changes such as updating beneficiaries, increasing /decreasing rider coverage or making other eligible changes. Our team will guide you through the required process and documents.

Claims & Benefits

1. What happens if the nominee dies?

If the nominee dies before the insured, you can contact the company to update or change the nominee details. Our Customer Service team will guide you through the required process and documents.

Policy Features and Options

1. What are policy riders?

Riders are additional benefits that can be added to your policy for extra protection, such as Accidental Death, Critical Illness, Premium Waiver, Monthly Income, Funeral Expenses, and Lump-Sum Benefits. You can choose riders based on your needs and policy eligibility.

2. What is a bonus? How is it paid?

A bonus is an additional benefit declared for eligible participating life insurance policies based on the policy terms and the insurer’s surplus. It is generally paid along with the policy benefit at maturity or upon the death of the insured, as applicable under the policy terms.

Premium payment & Termination and Renewal

1. What are the methods to deposit first and renewal premiums?

You can pay your first and renewal premiums through various convenient channels, including IME Pay, eSewa, Khalti, Fonepay, mobile/internet banking, and other authorized payment channels.

2. What happens if I miss a premium payment?

For yearly, half-yearly, and quarterly premium payment modes, a one-month grace period is provided to pay the premium without losing policy benefits. If the premium is not paid within the grace period, the policy may lapse or become inactive, subject to the policy terms and conditions.

3. Will I receive a reminder for my renewal premium or a notification after making the payment?

Yes. You will receive an SMS notification on your registered mobile number after your premium payment is successfully processed. You may also receive a reminder message and or phone call before the renewal premium due date.

4. Can I reinstate a lapsed policy?

Yes, a lapsed policy may be reinstated within the permitted period, subject to the policy terms and conditions. Depending on the policy, payment of outstanding premiums, interest, and/or submission of required documents or medical evidence may be required.

5. What are my options if I can no longer afford my premiums?

If you are unable to pay your premiums, you may have options such as changing the payment mode, reducing rider benefits, or converting the policy to paid-up status, if applicable. Please contact our Customer Service Department to understand the options available under your policy.

6. What happens when my term insurance policy matures?

When your term insurance policy matures, the coverage ends as per the policy terms. You may also choose to purchase a new policy based on your insurance needs.

7. Can the policy term be increased or decreased once the policy is issued?

Generally, the policy term cannot be increased or decreased once the policy is issued. If you need additional coverage or want to increase the sum assured, you may consider purchasing a new policy, subject to the applicable terms and conditions.

8. Can a policy be changed to another policy?

No. Once a policy has been issued, it cannot be changed to another policy.

9. How can a lapsed policy be revived if the insured is in a foreign country?

If the insured is residing in a foreign country, the lapsed policy may be revived by applying along with all the required documents to the Company, subject to the applicable terms and conditions.

10. Where can policyholders pay their premium?

Policyholders can pay their premiums at any IME Life Insurance Company Limited branch or sub-branch, as well as through available online payment channels.

Policy Loan & Surrender:

1. When is a policy eligible for a policy loan?

A policy becomes eligible for a policy loan after completion of three policy years, provided that at least three full annual premiums have been paid and the policy is active at the time of applying for the loan.

2. How much loan can I get against my policy?

A policyholder may obtain a loan of up to 90% of the policy’s surrender value, subject to the applicable rules and method approved by the Nepal Insurance Authority.

3. What documents are required for a policy loan?

For physical processing, the original policy document and a copy of a valid Citizenship Certificate are required. For digital services, the policyholder’s KYC must be verified and validated in the IME Life Insurance Company Limited system.

4. What is the process for applying for a policy loan?

A policy loan can be applied for through the Company’s e-Loan service available in the IME Life Insurance Company Limited mobile application, by visiting the nearest branch office, or through the Policyholder Loan section on the Company’s official website.

5. How can I apply for an e-Loan?

You can apply for an e-Loan through the official IME Life Insurance Company Limited mobile application or website. After logging in, you can apply for the e-Loan facility, subject to the applicable terms and conditions. The maximum e-Loan limit is NPR 300,000.

6. Why should I choose an e-Loan instead of a manual loan?

The e-Loan facility allows you to apply online without visiting a branch. Upon approval, the loan amount is quickly credited to your verified bank account, subject to the applicable terms and conditions.

7. What payment methods and gateways are available for policy loan repayment?

Policy loan repayments can be made through online payment platforms such as eSewa, Khalti by IME, Fone pay, and Connects IPS, or by visiting the nearest IME Life Insurance Company Limited branch office

8. What is the interest rate on a policy loan?

The interest rate on a policy loan is determined by the Company from time to time. For the current applicable interest rate, please contact the nearest IME Life Insurance Company Limited branch office.

9. When is loan interest capitalized in a policy loan?

Policy loan interest is payable annually by the end of Ashar each year. Any unpaid interest after the due date will be added (capitalized) to the outstanding loan amount.

10. What is the provision for a lost policy document?

If the original policy document is lost, the policyholder should immediately apply for a duplicate copy by completing the required procedures and paying the applicable charges.

11. Can I surrender my policy?

Yes. You will be eligible to surrender your policy after completing three policy years and paying three full annual premiums, subject to the applicable terms and conditions.

Critical Illness (CI)

1. What is CI insurance?

This is additional benefit rider option attached to the main insurance policy with all plans (exclusion Child plan) against critical illness conditions. This rider cannot be taken into isolation. Under this rider benefit, if insured is diagnosed with our listed 21 CI illness , company will pay the rider sum assured amount to policyholder.

2. Who can take CI rider?

Applicants between the age 18 years to 65 years with minimum policy terms of 5 years can take this rider benefit. And applicants should not have any pre-existing medical condition to take this rider benefit.

3. What is the maximum Sum Assured Limit for Critical Illness?

Critical Illness sum Assured can be equal to or less than the basic sum assured , not exceeding Rs 5,000,000/-

4. What is the waiting period and when does the risk coverage start?

90 days period from the date of policy commencement or from the date of revival of the policy is known as waiting period. Critical Illness risk coverage starts after completion of 90days of waiting period.

5. What is the survival period?

From the date of diagnosis of 21 diseases listed of Critical Illness, insured must survive for 30 days is called survival period.

6. If I have any pre-existing medical condition, then will I be eligible to take Critical Illness rider?

If you already have any existing chronic medical condition, then you will not be eligible to take this rider benefit.

7. Can I add CI rider to my already purchased life insurance policy?

Yes, you can add this Critical Illness rider benefit to your already purchased insurance policy with our company. But the CI sum assured must not exceed Rs.50 lakh.

8. How many times will I be able to claim Critical Illness?

Your policy must be active to claim this benefit. You can claim for CI rider only once within the coverage terms. After this, your all-additional rider benefit will be terminated. Whereas base policy will continue and there will be no any deduction in basic benefit.

Claims and Benifits

1. What documents are required to file a death claim?

Required documents for death claim payment:
• Intimation letter from the nominee or the claimant of the policy holder (Note: the intimation should include date / time / place and cause of death.)
• Original Policy Docket
• Details of claimant
• Copy of citizenship or passport of policyholder
• Copy of citizenship of claimant
• Death Registration Certificate
• Relationship proof certificate
• Postmortem report or crime scene inquest report (घटनास्थल लासजाँच मुचुल्का) with police report. (if the death is accidental)
• Death certificate issued by hospital along with documents of medical treatment (if death is in course of treatment)
• Verified bank account details
• Other documents asked by company if additional information is required.

2. What documents are required for a maturity claim?

Following are the documents required for maturity claim payment:
• Application of assured
• Original policy bond
• Last premium paid receipt
• Copy of citizenship certificate
• Valid bank account

3. Is it necessary to give all the document as requested?

Yes. We examine and settle claims on the basis of all records related to the claim. Once you report a claim, we request you to submit the required documents. The sooner the documents are submitted, the faster your claim will be processed. In case you need any clarification or assistance, you can contact our officials by calling or visiting the nearest IME Life Insurance Limited branch.

4. What are the reasons for my claim being rejected?

Claim rejections often occur when they do not meet the terms and conditions outlined in the policy. To understand in detail, please contact our nearest branch via this Branch Network.

5. How many days does it take to settle a claim?

Once all the required documents are submitted to the insurer, the death claim or other claims will be settled within 15 working days. While surrender, maturity, and survival claims will be processed and settled within 7 working days.

6. What does Claim refers to?

An insurance claim is a formal request made by a policyholder to an insurance company asking for financial compensation or reimbursement after experiencing a covered loss, damage, or injury.

7. What is early death?

An early death claim in life insurance occurs when the policyholder passes away within a specific initial period—usually one to two years—from the date the policy starts or is revived.

8. Will the insured receive medical expenses in case of an accident?

Eligibility for medical expenses depends on the type of policy. For details, please contact your nearest branch: Branch Network.

9. How do I file a death claim?

Visit your nearest branch with documents mentioned in point 1 at your earliest. If not possible, then please provide a justifiable reason for the delay in the claim application and begin the claim process with required documents.

10. How is the payment of the claim amount made?

The claim amount will be deposited into the claimant's bank account.

11. What is Accidental Death Benefit?

Accidental Death Benefit (ADB) is an additional feature in life insurance that provides extra coverage if the insured dies in an accident, offering additional financial protection to beneficiaries.

12. Can a person with any other illness avail of critical illness facility?

Only the illness mentioned in the critical illness rider policy is covered. Other than that no other illness is covered.

13. Under what circumstances will the benefit not be payable even if a critical illness is diagnosed and certified?

The circumstances:
a) If a claim is made for a critical illness where AIDS (Acquired Immune Deficiency Syndrome) or HIV (Human Immunodeficiency Virus) infection is diagnosed (Diagnosed).
b) If any illness was present before the issuance or reinstatement of the insurance policy, and the critical illness claim is made directly or indirectly due to the pre-existing illness. A pre-existing illness refers to any illness for which the insured has received treatment, advice, or had symptoms, signs, or investigations done.

14. What is death benefit?

The death benefit is the amount of money the insured's nominee/beneficiaries will receive from the insurer upon the death of the insured.

15. What is the method of claim if the death of insurer is in abroad?

All the Process and documents required are similar to requirements for death happening in Nepal. The death certificate needs to be attested by the Notary public of that country.

16. How do you determine if I am disabled?

The description of exactly what constitutes a disability is contained in your Policy. While the analysis of determining someone's disability status is very complex, it often involves the review of your job description, earnings history, medical records and restrictions and limitations imposed on you by your physician.