KYC, AML & National ID (NID) Rules for Nepal Life Insurance

Under Nepal Insurance Authority directives and Anti-Money Laundering (AML/CFT) laws, strict Know Your Customer (KYC) and National ID (NID) verification rules are mandatory when purchasing policies or receiving claim payouts.

Mandatory Identity Documents

• National Identity Card (Rastriya Parichayapatra) or Slip: Mandatory for all new policy proposals above NPR 10 Lakh sum assured.
• Nepali Citizenship Certificate (Nagarikta): Primary identity proof for proposer and life assured.
• PAN (Permanent Account Number) Card: Mandatory for annual premium payments exceeding NPR 25,000.
• Source of Funds Proof: Bank statement, salary slip, or audit balance sheet required for policies with annual premium above NPR 5 Lakhs.