Media Detail 11 Feb 19

‘Bancassurance’ agreement between Nepal Bank and Citizen Life Insurance

Citizen Life Insurance Company, which has had significant growth in the market in recent times and has been successful in gaining confidence of Nepali customers in a short period of time, signed Bancassurance agreement with Nepal Bank on January 29, Tuesday. The agreement was signed by Mr. Pratap Shah, CEO Nepal Bank and Mr. Poshak Raj Poudel, CEO Citizen Life Insurance.

Both the organizations believe that this collaboration will provide additional benefits to their respective customers. Citizen Life Insurance has been successful in bringing a positive change in customers’ mindset about insurance services and schemes, and Nepal Bank has continuously been working to increase banking literacy among its customers with easy and reliable banking services.

As per the agreement, Citizen Life Insurance’s customers will now be able to get all the services including life insurance policy, premium payment and insurance claim from any of the 158 branches of Nepal Bank. Citizen Life Insurance has already had a mark in the minds of customers with new and innovative schemes like Jeewan Sarathi and Critical Care Plus introduced for the safety and security of customers, for the first time in Nepal.

Under the Jeewan Sarathi scheme, the insured customer will be able to receive bonus amount till 90 years of age and through the critical care plus scheme, the insured will be able to get a medical treatment amount of upto 50 lakhs to cover treatment costs against 20 critical illnesses. The customers of Nepal Bank will also be benefitted from these innovative schemes. While providing services to customers spread throughout Nepal, Citizen Life Insurance has already established more than 60 branches in various locations of Nepal.

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