National Life Sanjivani Plan: A Complete Guide to Protection and Savings Benefits in Nepal

12th April 2026, Kathmandu

The National Life Sanjivani Plan is a non-linked with-profits endowment insurance policy offered by National Life Insurance.

National Life Sanjivani Plan 

It is designed to provide a balanced combination of financial protection and long-term savings, making it suitable for individuals who want both life insurance coverage and wealth accumulation in a single plan.

In the growing insurance market of Nepal as of April 2026, endowment plans like this are widely preferred because they offer guaranteed benefits along with additional bonuses declared by the insurance company. The Sanjivani plan is structured to support policyholders throughout their financial journey while also ensuring security for their families in case of unforeseen events.

What is the National Life Sanjivani Plan?

The National Life Sanjivani Plan is an endowment insurance policy where the policyholder pays regular premiums for a fixed period and receives a lump sum benefit at maturity. In case of the death of the policyholder during the policy term, the nominee receives financial compensation as defined under the policy terms.

This plan is especially suitable for:

• Individuals seeking life insurance protection alongside investment.
• People who want to build disciplined savings over time.
• Families looking for long-term financial security.
• Individuals planning for future milestones such as education, retirement, or asset building.

Key Features of the Plan

The Sanjivani plan is structured with several important features that make it attractive for policyholders:

• It is a non-linked with-profits endowment plan.
• It offers a combination of insurance protection and savings.
• The policy term is flexible, ranging between 12 to 20 years.
• Policyholders participate in regular bonuses from the profits of the company.
• Premium payment options are flexible, including yearly, half-yearly, and quarterly modes.
• Both maturity and death benefits are guaranteed as per the policy contract.

Death Benefits Under National Life Sanjivani Plan

One of the most important aspects of the National Life Sanjivani Plan is its structured death benefit system. In case of the death of the policyholder during the policy term, the nominee receives the Sum Assured on Death plus any accrued reversionary bonus up to the date of death.

The Sum Assured on Death increases depending on the policy year:

• Policy years 1 to 5: 100% of the Sum Assured.
• Policy years 6 to 10: 125% of the Sum Assured.
• Policy years 11 to 15: 150% of the Sum Assured.
• Policy years 16 to 20: 200% of the Sum Assured.

This increasing benefit structure ensures higher financial protection as the policy matures over time, providing a safety net that grows with the needs of the family.

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Maturity Benefits

The maturity benefit is another key attraction of the Sanjivani plan. If the policyholder survives until the end of the policy term and all premiums have been paid, they receive the full Sum Assured along with all accrued reversionary bonuses. After the payment is made, the policy terminates. This makes the plan not just a protection tool but also a disciplined savings instrument that rewards long-term commitment.

Bonus System Explained

The National Life Sanjivani Plan participates in the profits of the participating fund of the company. This means policyholders are entitled to additional returns in the form of bonuses.

How bonuses work:

• They are declared annually based on the performance of the company.
• Bonuses are calculated as a percentage of the sum assured.
• Once declared, they form part of the guaranteed benefits.
• They are added as simple reversionary bonuses to the policy.

These bonuses accumulate over time, significantly increasing the final payout at maturity or in case of an untimely demise. It is important to note that bonuses stop if premium payments are not maintained or once the policy reaches maturity and is settled.

Eligibility and Policy Conditions

The Sanjivani plan has clear eligibility rules and policy conditions designed to be inclusive:

• Minimum Sum Assured: NPR 200,000.
• Maximum Sum Assured: Determined by the underwriting rules of the company.
• Minimum Entry Age: 12 years (Last Birthday).
• Maximum Entry Age: 65 years (Last Birthday).
• Maximum Maturity Age: 70 years.
• Policy Term: 12 to 20 years.
• Premium Payment Term: Equal to the policy term.

Why Choose the National Life Sanjivani Plan?

This plan is ideal for individuals seeking a reliable financial protection tool with added savings benefits. Its structured design makes it appealing for long-term financial planning. Key advantages include the dual benefit of insurance and savings, a guaranteed payout at maturity, and an increasing death cover over time. Additionally, the bonus accumulation helps in achieving higher returns compared to traditional savings accounts.

Importance of Endowment Plans in Nepal

Endowment insurance plans like Sanjivani play an important role in the financial ecosystem of Nepal. They help individuals build long-term savings discipline while securing the financial future of their families. In a country where awareness regarding financial planning is growing, such plans offer a structured and safe investment alternative that reduces financial uncertainty.

Final Thoughts

The National Life Sanjivani Plan is a well-balanced insurance product that effectively combines protection, savings, and bonus benefits. With its increasing death benefit structure and participation in the profits of the company, it provides long-term financial stability for policyholders. For individuals looking to secure the future of their family while also building disciplined savings, this plan offers a strong and reliable solution in the insurance market of Nepal.

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