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Citizen Group Endowment Plan is a with-profit group life insurance solution that combines life protection and savings benefits under one umbrella policy. It is specially designed for organizations that wish to provide financial security and long-term value to their employees or members. This plan is perfect for organizations such as Banks & financial institutions, SMEs and corporate houses, Cooperatives & NGOs, Manufacturing & development organizations, and other similar organizations. This plan is an ideal blend of financial security and savings growth, ensuring peace of mind for employees and long-term stability for organizations.

Choose this plan if you want

1. Dual Benefits: Risk coverage + Maturity savings.
2. Employee Retention Tool: Enhances staff welfare and loyalty.
3. Flexible Continuation: Employees can continue individually even after leaving the organization.
4. Group Advantage: One master policy covers all members with simplified administration.
5. Additional Riders: Accidental death benefit (ADB), Permanent Total Disability (PTD), Permanent Partial Disability (PPD), Funeral Expenses (FE), and Monthly Income Benefit (MIB)

Salient Features

Benefits Payable Conditions:

Survival Benefit:

On survival to end of policy term: Sum Assured plus Vested Bonus will be payable subject to policy’s terms and conditions.

Death Benefit:

On death of Life Assured during the policy term, Sum Assured plus Vested Bonus will be payable subject to policy’s terms and conditions.

Surrender and Policy Loan

Surrender Value

Surrender becomes available after:

• Payment of premium for 3 full years and,
• completion of 3 policy anniversaries

Surrender Value Calculation follows Nepal Insurance Authority guidelines.

Paid Up Policy Benefits

• Policy acquires paid-up value after 2 years of premium payment
• Bonus Continuity: Already declared bonuses remain attached to the policy.

If the policy lapses after acquiring paid-up value, paid-up value will become payable either on death or maturity.

Policy Loan

Not available.