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Endowment Insurance Plan-With Profit (Plan No-01)
Endowment Insurance Plan is the most popular and commonly available Insurance Plan. The main objective of this plan is to ensure financial security of you and your family. It pays you the amount of money that you have decided to fix as Sum Assured and earned bonus at maturity or in unfortunate loss of life. You pay premium until claim or maturity whichever is earlier and receive Sum Assured & bonuses either at maturity or in the unfortunate event of loss of life.
Key Features
- Wealth Creation through Bonus.
- Sum assured plus accrued bonus on maturity.
- Valuable variable financial protection for your family in case you are not around.
- Flexibility to add supplementary benefits or rider based on your choice for a nominal extra premium.
- Can take loan from the policy after two years in case of financial hardship.
Eligibility & Parameters
| Entry Age: | Minimum 18 years to maximum 60 years |
| Exit Age: | At maturity, age of the policyholder can’t exceed 70 years. |
| Minimum Sum Assured: | Tk. 1,00,000 |
| Minimum Sum Assured: | The policy applicant must have own, valid & regular income. |
| Tenor/Term: | Minimum 10 years to maximum 30 years |
| Premium Mode: | Quarterly, Half-yearly & Yearly |
| Rider Policy: | You can choose one or more rider benefits with your basic life insurance plan: |
- ADB (Accidental Death Benefit)
- PDAB (Permanent Disability and Accidental Benefits)
- HI (Hospitalization Insurance) for Self, Spouse and two Children (max four persons) individually.
- MDB (Major Disease Benefit)
- FIR (Family Income Rider)
Policy Benefits
- Maturity Benefit: On maturity you get the Sum Assured plus accumulated bonuses (if any) till maturity date.
- Death Benefit: In the unfortunate event of loss of life of the policy holder, nominated beneficiary will receive Sum Assured plus accumulated bonuses (if any) till the date of death.
- Income Tax Rebate: The Policy Holder will get benefit of 5% income tax rebate on the premium paid every year as per the income tax policy of the government.
- Paid up Value: After continuing the policy at least two years, the policy acquires Paid up value which is payable with accrued bonus at the end of policy term.