A universal life insurance plan that helps save and accumulate funds for the future while providing life cover for the policyholder.
What's included
Key highlights
- Opportunity to grow wealth in addition to protection +savings
- Policy loan up to 90% of surrender value
- Includes ADB / PTD / PPD coverage
Features
- Universal life plan — lifetime cover while premiums are paid
- Builds savings/account value over time
- Minimum regular premium NPR 12,000; single premium min NPR 30,000
- Sum assured examples: regular NPR 120,000; single NPR 37,500
- Policy loan up to 90% of surrender value
- Surrender value payable after 3 policy anniversaries (subject to conditions)
- Includes Accidental Death Benefit (ADB), Permanent Total Disability (PTD), Permanent Partial Disability (PPD)
What happens in each case
Each plan pays out differently depending on what happens during the term. These are the situations that matter for this kind of plan.
If the insured passes away during the term
The nominee receives the sum assured, and the policy ends.
Typical for endowment plans — confirm the exact terms in the brochure.
If the policy runs to maturity
You receive the sum assured as a lump sum on the maturity date.
Typical for endowment plans — confirm the exact terms in the brochure.
If death is caused by an accident
With the accidental death rider, an additional amount is paid on top of the sum assured. The rider is optional and carries its own premium.
Typical for endowment plans — confirm the exact terms in the brochure.
Optional riders
Questions about this plan
What kind of plan is Citizen Savings Growth Plan?
Citizen Savings Growth Plan from Citizen Life Insurance is an endowment plan that pairs savings with life cover for a single adult, and suits people who want a guaranteed amount on a fixed future date.
Who can buy Citizen Savings Growth Plan?
The entry age for Citizen Savings Growth Plan is 18 – 55 years.
How long does Citizen Savings Growth Plan run?
The policy term for Citizen Savings Growth Plan is 10 - 20 years.
Which riders can be added to Citizen Savings Growth Plan?
Citizen Savings Growth Plan can be taken with the following optional riders: Accidental death (ADB), PTD / PWB. Each rider carries its own premium.
Premium
Quote on request