Citizen Life Insurance Company Limited is one of Nepal’s youngest life insurers, established in 2074 BS (2017). Despite its short history it already settles a solid share of claims – 93.87% on our derived measure for FY 2081/82, ranking #7 of 14 and improving year on year. This review covers what it sells, how reliably it pays, and who it suits.
Quick Facts
| Detail | Information |
|---|---|
| Full name | Citizen Life Insurance Company Limited |
| NEPSE symbol | CLI |
| Established | 2074 BS (2017 AD) |
| Type | Private, Nepali-owned |
| Regulator | Nepal Beema Pradhikaran (NIA) |
| Market share (premium) | 4.14% |
| Life fund | NPR 19.85 arba |
| Claim ratio FY 2081/82 (derived) | 93.87% (rank #7 of 14) |
| Claim ratio FY 2080/81 (derived) | 92.84% (improving) |
| Total claims paid FY 2081/82 | NPR 1.91 billion (Rs. 191.18 crore) |
| Entry age | 18 – 65 years (adult plans) |
| Policy terms | 5 – 30 years |
Claim Settlement Ratio: #7 and Improving
An honest note on the number first. The NIA does not publish a per-company “claim settlement ratio.” It publishes claims paid and claims outstanding for each insurer, and the 93.87% here is a ratio we derive from those (claims paid divided by claims paid plus outstanding). It is amount-based and excludes rejected claims, which the NIA does not break out per company.
For Citizen Life specifically, the encouraging part is the direction. In FY 2081/82 it paid Rs. 191.18 crore (about NPR 1.91 billion) in claims, and its derived ratio rose from 92.84% to 93.87% – improving even as a young, fast-growing insurer adds policies (which usually enlarges the outstanding queue and weighs the ratio down). It sits mid-table at #7, short of the high-90s leaders, so it is fair to ask about settlement timelines, but the trend is in the right direction.
Plans Available (FY 2081/82)
Endowment: Citizen Endowment Plus (flagship)
Citizen’s most popular savings-plus-protection plan, and one of several savings-type plans it sells (others include the Citizen Regular Pay Money Back plan, the Citizen Group Endowment PlanCombines savings and life protection. Pays out whether you survive to maturity or die during the term. Full definition →, and the Citizen Child Future Plan Plus). It pays the sum assured plus accumulated bonus at maturity, or the full sum assured to your nominee on death during the term. See the full list on Citizen Life’s own site.
- Endowment bonus (FY 2081/82): Rs. 38 to Rs. 73 per 1,000 sum assured per year
- Riders available: Accident, Critical Illness, Disability
- Policy loan: Yes, after 3 years | Surrender: Yes
Money Back: Citizen Annual Money Back (flagship)
An anticipated-endowment plan that returns part of the sum assured at fixed intervals during the term, with bonus. Citizen also offers a Regular Pay Money Back variant, so you can match the premium and payout schedule to your budget.
Permanent protection: Citizen Savings Growth (Universal Life)
For long-term, whole-life-style cover, Citizen offers the Citizen Savings Growth Plan – a universal-life savings-and-protection plan that provides lasting cover with a savings element rather than a fixed maturity date. (Citizen Protection is a separate group plan for organisations such as microfinance institutions and cooperatives, not an individual whole-life policy.)
Don't buy based on reviews alone. Compare claim ratios and IRR instantly.
Compare All PlansTerm and group cover
Citizen offers term protection including the Citizen Group Term Insurance Plan (a one-year renewable group cover). If pure individual term is your priority, compare Citizen’s options against insurers with a dedicated individual term plan.
A Note on Bonus Rates
Citizen Life’s declared endowment bonus for FY 2081/82 is Rs. 38 to Rs. 73 per 1,000 sum assured (dual-sourced from Beemapost and Insurance Khabar) – a competitive mid-to-upper range. Its other plans carry their own declared rates, so confirm the bonus for the specific plan and term you are buying rather than a company headline. To weigh insurers side by side, see our comparison of all 14 companies.
Who Should Choose Citizen Life?
Choose Citizen Life if:
- You want a solid, improving claim record (#7, 93.87%, up year on year) from a younger, fast-growing insurer
- You want a competitive endowment bonus (up to Rs. 73) without chasing the very top of the market
- You need entry up to age 65 or a term up to 30 years
- You prefer a fully Nepali-owned company
Consider alternatives if:
- You prioritise the highest claim settlement record – Asian Life (98.85%), Sun Nepal (98.71%), and Prabhu Mahalaxmi (98.33%) rank higher on the same measure
- You want the highest possible bonus – National Life declares up to Rs. 85 per 1,000
- You specifically want a long-established insurer with a dedicated individual term plan
See Your Own Numbers
Premiums depend on your age, sum assured, and term, so a single sample figure can mislead. Use the Premium Calculator to compare Citizen Life’s estimated premium against all 13 other insurers for your exact inputs.
Data source: NIA Annual Report FY 2081/82 for financials and claim amounts; plan names from Citizen Life’s own website; bonus rates from Beemapost and Insurance Khabar. The claim “ratio” is our amount-based derivation (claims paid over paid plus outstanding, in NPR crore per NIA Schedules 14 and 15); the NIA does not publish a per-company settlement ratio. Any premium shown by our calculator is an estimate, not a quote. Full disclaimer.