Nepal Life Insurance Introduces Gramin Sawadhik Jeevan Beema Yojana for Rural Sectors

14th July 2026, Kathmandu

Nepal Life Insurance introduced a specialized micro insurance product called the Gramin Sawadhik Jeevan Beema Yojana.

Gramin Sawadhik Jeevan Beema

This micro endowment scheme focuses explicitly on combining disciplined savings with reliable family protection for lower income populations across the country.

Defining the Micro Endowment Framework

Micro insurance plans are uniquely structured to support the socio-economic framework of rural sectors. These plans offer an entry point for every individual to protect the financial future of their household. The low premium rates make participation highly feasible for daily wage earners and smallholder farmers.

The Gramin Sawadhik Jeevan Beema Yojana functions as an endowment with profit plan. This means that besides securing risk protection, the policy accumulates a share of corporate profits through annual bonuses. This dual setup ensures that rural families can meet long-term goal-based needs while creating a financial safety cushion.

Core Eligibility Criteria and Policy Parameters

The micro insurance plan utilizes broad enrollment boundaries to accommodate a wide demographic of rural citizens. The operational parameters of the basic policy include the following metrics:

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• Entry Age Limits: The minimum age required at the time of entry is 18 years, while the maximum allowable age for onboarding is capped at 60 years.
• Maximum Maturity Threshold: The absolute maximum age an insured individual can reach at policy maturity is 65 years.
• Flexible Policy Terms: The policy duration spans a wide range, allowing buyers to select a term from a minimum of 5 years up to a maximum of 49 years.
• Capital Assurance Levels: The baseline sum assured starts at a minimum of 10,000 Nepalese rupees and can scale up to a maximum limit of 300,000 Nepalese rupees.
• Premium Payment Frequency: To keep payments manageable, policyholders can choose between quarterly, half yearly, or yearly installment modes.

Additionally, this scheme provides an option for emergency liquidity. Policy loans become accessible once the active policy acquires a formal paid-up or surrender value. The maximum loan amount available is restricted to 90 percent of the accumulated surrender value.

Structure of Primary Settlement Benefits

The plan lays out clear terms regarding risk protection and savings payouts during the lifecycle of the policy. The core benefits are organized into two distinct coverage scenarios:

• Survival Maturity Payout: If the insured individual successfully survives until the end of the selected policy term, the company pays out the full basic sum assured along with the accrued bonus as a lump sum maturity amount.
• Immediate Death Benefit: If the insured person passes away immediately after policy commencement or at any point before the formal maturity date, the full basic sum assured plus the accumulated bonus is delivered directly to the designated beneficiary.

Optional Rider Benefits for Critical Illness Protection

To strengthen the baseline coverage against unexpected medical expenses, Nepal Life Insurance offers an optional critical illness rider benefit. If the insured person is diagnosed with a specified major illness defined within the policy framework during the active term, the company delivers a lump sum payment. This relief payment equals the basic sum assured or tops out at a maximum threshold of 5,000,000 Nepalese rupees.

The critical illness rider operates under its own distinct set of strict eligibility guidelines:

• Age Limits for the Rider: The minimum entry age is fixed at 18 years, and the maximum entry age stands at 65 years.
• Ultimate Age Cap: The final coverage maturity age for this medical rider cannot exceed 70 years.
• Rider Sum Assured: The coverage limit for this add-on plan ranges from a minimum of 50,000 Nepalese rupees up to a maximum cap of 5,00,0000 Nepalese rupees.
• Specific Rider Terms: The independent duration for the critical illness cover requires a minimum term of 5 years up to a maximum option of 20 years.

For More: Gramin Sawadhik Jeevan Beema