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Child Protection Policy (with bonus)
Under this plan multi-faceted security is provided for the child. It is a joint insurance i.e. the risk is assumed by the policy
on the life of the child and the parents. In case of death any one of payor or child premium payment will be ceased but
benefits will be paid as per schedule. Generally, the father or mother of the child is considered as the premium payer
in this scheme. No one other than parents can be premium contributor in this scheme.
Key Features
- Types of Plan: Endowment Insurance Plan for Child Protection
- Child’s Age at Entry: 6 months to 18 years
- Policy Holder / Payor’s Age: 21–55 years
- Minimum Sum Assured: Tk. 30,000
- Maximum Sum Assured: Based on socio-economic condition
- Child’s Maximum Maturity Age: 30 years
Eligibility & Parameters
- Policy Terms: 10–29 years
- Mode of Payment: Yearly, Half-yearly, Quarterly, Monthly
- Income Tax: The policyholder can avail tax rebate facility against the policy
- Supplementary Coverage: Not applicable
- Premium Calculation: Premium rate chart (per thousand) given in the brochure
- Payor: Father or mother only accepted as payer
Policy Benefits
| After Commencement of Policy if Child Dies (Within Years) | Benefits |
|---|---|
| Not more than 1 year | 20% of Sum Assured |
| More than 1 but not more than 2 years | 40% of Sum Assured plus accrued bonus |
| More than 2 but not more than 3 years | 60% of Sum Assured plus accrued bonus |
| More than 3 but not more than 4 years | 80% of Sum Assured plus accrued bonus |
| More than 4 years | 100% of Sum Assured plus accrued bonus |
| On Survival: | On survival of both child and payer, full sum assured with accrued bonus will be paid at maturity. |
| On Death: | On death of the policyholder within the term, future premiums will be waived. Tk. 100 per thousand sum assured will be paid per year on survival of the beneficiary child or till the day of child’s death before expiry of the term as stipend. After maturity, the sum assured with accrued bonus will be payable. |
| Loan: | The insured can avail loan facility (maximum 90% of surrender/encashment value) after completion of 2 (two) years. |
| Surrender: | The insured can avail surrender/encashment value after completion of 2 (two) years. |