Citizen Jeevan Sarathi Yojana

“Citizen Jeevan Saarathi Yojana” is protection plan which is designed to provide long term protection to you. This plan has been made to address the changing socio-cultural context of Nepal. Nowadays, many youngsters are leaving the country and old people are struggling in their old age due to financial security concerns.

Retirement age, for most, can be a very difficult phase of life as the sources of income are limited. Also, the health condition of retired individuals may be volatile. To provide financial protection to people in their Retirement Age, Citizen Life has introduced “Citizen Jeevan Saarathi Yojana”.This plan offers protection to you and your spouse by providing lump sum amount at maturity (this can be synced with the retirement age to get most out of this policy). More importantly, this policy also provides insured with life coverage for up to 90 years. Also, the insured will get money back in regular intervals from 70 to 90 years age.

General Description of Jeevan Saarathi:

Description	Minimum	Maximum
Sum Assured	Rs. 50,000	Rs. 3,00,00,000
Entry Age	18 years	60 years
Policy Term (Age – 90)	30 years	72 years
Premium Payment Term	5 years	47 years
Maximum Age at the End of Premium Payment Term	65 Years
Maximum Age of Life Assured at Maturity of Policy	90 Years

Mode of Payment

Regular Premium

Yearly
Half Yearly Quarterly

Single Premium

At the issuance of policy

Mode of Payment Discount

Yearly – 2%
Half Yearly – 1%
Quarterly — Nil

Benefits under this plan:

On Survival to Premium Payment Term: Sum Assured + Bonus
On Death during Premium Payment Term: Sum Assured + Bonus
On Death after Premium Payment Term: Sum Assured (less Survival Benefit already paid, if any)

Survival Benefits:

Survival benefit is given after the life assured receives sum assured and bonus at the end of premium payment term and goes on to survive the below mentioned ages. Survival benefit is paid in the policy anniversary date following below mentioned birthdays.

Survival Benefit	Benefit Amount
Survival to age 70 years	20 % of Sum Assured
Survival to age 75 years	20 % of Sum Assured
Survival to age 80 years	20 % of Sum Assured
Survival to age 85 years	20 % of Sum Assured
Survival to age 90 years	20 % of Sum Assured The policy will get terminated after that.

Financial emergency can come at any time. For this reason, Jeevan Saarathi has provision for policy loan from
survival benefit. Policy holder can withdraw loan up to 50% of Survival Benefit 2 years before the next due survival benefit.

Riders:

Jeevan Saarathi Yojana comes with 3 riders to increase the protection quotient of life assured.

Rider	Coverage
Accidental Death Benefit (ADB)	On happening of accidental death of life assured, ADB sum assured in addition to base plan sum assured will be payable to the nominee of life assured.
Permanent Total Disability (PTD)	If life assured become permanently and totally disabled due to accident, PTD Sum Assured will be payable to the life assured.
Premium Waiver Benefit (PWB)	On happening of permanent total disability due to accident of life assured, all the future payable premiums will be waived off.

Note: ADB and PTD coverage will be available to life assured up to 70 years age regardless of the premium payment term.

Loan Provision

Regular Premium: Policy will be eligible for loan after three years up to 90% of Surrender Value.

Single Premium: Policy will be eligible for loan after three years from the date of commencement of the policy.

Loan Provision of Survival Benefit: Policy holder can withdraw loan up to 50% of survival benefit 2
years before the next due survival benefit.

Note: Surrender Value is calculated using the formula given by Beema Samiti.
Jeevan Sarathi imitates 3 different policies that are most popular in market. It has got the best features of all 3
plans.

Endowment Feature: Sum Assured and Bonus is paid on death or survival to end of premium payment term.

Whole Life Feature: After the premium payment term, if the life assured dies at any time within 90
years age, sum assured (less survival benefit explained below) will be paid to the nominee of life assured.

Money Back Feature: If the life assured survives to age 70, 75, 80, 85 and 90 years, 20% of sum assured will be paid to the life assured at each policy anniversary date following these birthdays which acts like protection for life assured at their retirement age.

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Issued Date: 08.04.2018