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Citizens Bancassurance

Life Insurance Company

In Life insurance we have association with following insurance companies:

  • 1.LIC Nepal
  • 2.Surya Life Insurance Company

1. LIC Nepal

  • A.JEEVAN ANAND PLAN(342)

Features:

  • Jeevan Anand is one of the most successful products of LIC (Nepal) Ltd. The policy is in force during the entire life period of the policy holder.
  • Even after the premium paying term is over the risk cover continues to the entire life period of the policy holder.
  • On maturity time, the Sum Assured + Bonus will be paid to the policy holder.
  • If the policy holder dies during the premium paying term then the Sum Assured + Bonus accrued will be payable to the nominee.
  • If the policy holder dies during the premium paying term due to accident then the double the Sum Assured + Bonus accrued will be payable to the nominee.
  • If the policy holder dies before the age of 70 than the Sum Assured will be payable to the nominee.
  • If the policy holder dies before the age of 70 due to accident than double the Sum Assured will be payable to the nominee.
  • If the policy holder dies after the age of 70 than the Sum Assured will be payable to the nominee.

Eligibility:

Minimum age at entry: completed 16 years

Max. Age: 65 years

Maximum Maturity age : 70 years

Minimum sum assured:100,000 & thereafter in multiples of Rs. 100000/-

Maximum S.A: No limit

Policy Term: 5 to 20 years

B. ENDOWMENT PLAN (333)

Benefits:

Under this plan the Sum Assured with vested bonus is payable either on the date of maturity or on earlier death.

Features:

  • This is a with profit policy.
  • Minimum Sum Assured is 10,000 and no limit for maximum Sum Assured.
  • The policy becomes paid up if at least two full years premium is paid.
  • The policy can be surrendered after completion of two full years with payment of all due premiums.
  • Loan is payable under the policy after two years to the extent of 90% of Surrender value.
  • If at least two full years premium have been paid and if death occurs within next one year from first unpaid premium full sum assured is payable subject to rules and regulation.
  • Double accident benefit including permanent disability benefit is available from the age of 18 to 70 years.

Eligibility:

  • Minimum age at entry: Completed 10 years
  • Max.Age:60 yrs.
  • Maximum Maturity Age: 70 years
  • Minimum Sum Assured:10000/-
  • Maximum Sum Assured: No Limit
  • Policy Term: 5 to 52 years
  • Mode: Yearly, Half Yearly, Quarterly

C.CHILD ENDOWMENT PLAN (PLAN NO. 349)

Among all child plans child endowment is one of the best plans with profits endowment for children assurance plan. Sum assured plus vested bonus is payable on survival to the end of the term.

Features:

  • Under these plans children risk will begin either 2 years after the date of commencement of the policy or from the policy anniversary falling immediately after the completion of 5 years of age, whichever is later.
  • In case of the death of the life assured before the commencement of risk, the policy shall stand cancelled and premiums paid (excluding the premiums for Premium Waiver Benefit) till death, under the policy will be refunded in full.
  • In the event of unfortunate death during the term of the policy after commencement of risk but before maturity, Sum Assured becomes payable together with the vested bonus.
  • The proposer can avail Premium Waiver Benefit under these plans up to the age of 50 years nearer birthday at entry on payment of an additional premium. By payment of this additional premium, the premiums are waived from next due falling on or after the death of the proposer.

Eligibility:

  • Minimum Age at entry: 0 years
  • Maximum Age:10 years
  • Minimum Age for Maturity: 20 years
  • Maximum Age for Maturity: 45 years
  • Minimum Sum Assured: 50000/-
  • Maximum Sum Assured: 50 Lakhs
  • Mode: Yearly, Half Yearly, Quarterly.

2. SURYA LIFE INSURANCE COMPANY:

A. Surya Endowment Plan

Features:

  • Minimum entry age: 16 yrs
  • Maximum entry age:60 yrs
  • Minimum term: 5 yrs
  • Maximum term: 50 yrs
  • Maximum maturity age: 70 yrs
  • Minimum sum assured: NPR 25000
  • Maximum Sum assured: According to the financial condition of the life to be assured
  • Mode of payment: Annual/semiannual/Quarterly
  • Rider Benefits: ADB/PTD/PWB

B. Surya Sudarshan (Endowment /whole Life)

Features:

  • Minimum entry Age:16 yrs
  • Maximum Entry Age:60 yrs
  • Minimum Term :5 yrs
  • Maximum Term:54 yrs
  • Minimum Maturity Age :21 Yrs
  • Maximum maturity Age:70 yrs
  • Minimum sum Assured: NPR 100,000
  • Maximum Sum assured: According to the financial condition of the life to be assured
  • Mode of payment: Annual/Semi-annual/Quarterly
  • Rider Benefits: ADB Only

C. Surya Child Endowment

Features:

  • Min Age Entry:0 yrs (Birth of Child)
  • Max Age Entry:15 yrs
  • Maximum premium Payment Period:29yrs
  • Min Sum Assured:50,000
  • Max Sum Assured:20,00,000
  • Policy Term: Min 10 years , Max 30 years
  • Benefits: Double Risk coverage
  • Child risk coverage : 2 years complete policy or child age 6 years whichever is later
  • Supplementary Riders: MIB and PWB
  • Mode of payment: Annual/semiannual/Quarterly