Citizen Life Savings Growth Plan: A Comprehensive Strategy for Future Security
25th April 2026, Kathmandu
Citizen Life Insurance Company Limited has addressed the demand for investment vehicles that offer both capital accumulation and robust risk protection through the Citizen Savings Growth Plan, a Universal Life Insurance product designed for those who prioritize long term wealth building.
Citizen Life Savings Growth
This permanent life insurance solution allows policyholders to grow an account value element while maintaining lifetime coverage, provided premiums are paid according to the agreement. By integrating insurance protection with a flexible savings mechanism, the plan stands as a cornerstone for modern financial planning in Nepal.
Understanding the Universal Life Insurance Structure
The Citizen Savings Growth Plan is categorized as a Universal Life Insurance policy, which differs from traditional endowment plans by offering a dynamic account value. Every month, the insurer deducts the cost of insurance from this account value to maintain risk coverage. This structure allows the policy to remain active as long as the account value meets the requisite cost of insurance. It is an ideal option for individuals who want their insurance to function as a living asset, where they can see their funds accumulate through interest earnings and potential loyalty rewards over the policy term.
Eligibility and Flexible Premium Options
The plan is designed to be accessible to a wide demographic, with an entry age ranging from eighteen to fifty five years. The policy terms are equally accommodating, allowing for durations between ten and twenty years, with the maximum maturity age capped at seventy years.
To cater to different financial capacities, Citizen Life offers two primary payment modes:
Regular Pay: Requires a minimum annual premium of twelve thousand rupees and a minimum sum assured of one hundred and twenty thousand rupees.
Single Pay: A one time investment option with a minimum premium of thirty thousand rupees and a minimum sum assured of thirty seven thousand five hundred rupees.
The total sum assured is ultimately determined by the company’s underwriting guidelines and the life assured’s income, ensuring that the coverage remains proportionate to the policyholder’s financial status.
Benefits Payable to Policyholders and Beneficiaries
The Citizen Savings Growth Plan provides clear financial outcomes for various scenarios, ensuring transparency for the insured.
Maturity Benefit: If the assured survives the entire policy term, the full account value on the maturity date is payable.
Death Benefit: In the event of the policyholder’s untimely demise, the company pays either the full sum assured or the account value at the date of death, whichever is higher.
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Loyalty Reward: To encourage consistent saving, the plan offers a guaranteed loyalty reward at maturity. A 3 percent bonus of the account value is added to the average account value of the last sixty months, provided all premium installments were paid regularly.
Loan Facility: Policyholders can access liquidity by taking a loan of up to 90 percent of the surrender value, with a minimum loan amount of one thousand rupees. This ensures that the policy remains a flexible asset during financial emergencies.
Comprehensive Accident and Disability Coverage
Beyond the base life cover, the Citizen Savings Growth Plan includes detailed provisions for accidental events, which are crucial for active professionals and travelers in 2026.
Accidental Death Benefit (ADB)
If an injury results in the loss of life within one hundred and eighty three days of an accident, the insurer pays the lump sum of the ADB sum assured in addition to the base death benefit (the higher of the sum assured or the account value).
Permanent Total Disability (PTD)
The plan provides a full sum assured payout for life altering injuries, such as the loss of sight in both eyes or the loss of two limbs (hands or feet). If the permanence of the disability is uncertain, the condition must persist for three hundred and sixty five days before the claim is finalized. Once the PTD benefit is paid, the risk coverage for that section ceases.
Permanent Partial Disability (PPD)
For less severe but permanent injuries, the plan offers a percentage based payout from the sum assured. For example:
- Loss of one arm or hand: 50 percent
- Loss of one eye: 40 percent
- Total deafness of one ear: 30 percent
- Amputation of all toes: 25 percent
- Total loss of a thumb: 15 percent
In cases involving multiple partial disabilities, the total indemnity is cumulative, up to a maximum limit of 50 percent of the sum assured.
Exclusions and Limitations
While the policy offers broad protection, there are specific exclusions designed to manage risk responsibly. The insurer’s liability is limited to the account value (rather than the full sum assured) in cases involving death due to war, criminal activities, or participation in hazardous professional sports such as skydiving, paragliding, or bungee jumping. Additionally, deaths resulting from suicide within the first two years of the policy inception or revival are excluded from the full sum assured payout.
Conclusion
The Citizen Savings Growth Plan by Citizen Life Insurance is a sophisticated financial tool that aligns with the evolving needs of the Nepalese public in 2026. By combining the flexibility of universal life insurance with the security of traditional accident benefits, it provides a reliable path toward wealth accumulation and family protection. Whether through a single premium or regular installments, this plan empowers citizens to take control of their financial future while ensuring that life’s unforeseen events do not derail their long term goals
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