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10 insurance companies in Bangladesh discussed
How insurance works:
Premium: The insured pays a certain amount of money (premium) to the insurance companies.
Insurance policy: The insurance companies issues a contract (policy), which clarifies the terms of protection and compensation.
Accident or loss: If the insured suffers any loss or accident, the insurance companies pays the necessary amount for compensation.
Pre-conditions: The amount and conditions of compensation are predetermined in the insurance contract.
This is usually through life insurance, health insurance, car insurance, property insurance, etc.
1- MetLife Insurance Company Limited
MetLife Insurance Company was formerly known as American Life Insurance companies. It is a very old company in Bangladesh. This MetLife Insurance Company was established in Bangladesh in 1952.
This insurance company came to Bangladesh from America to meet the needs of Bangladesh and also to grow their business. Since 1952, they started working with the people of Bangladesh and provided them with proper services and earned their trust. Along with this, it also helped in creating employment for one million Bangladeshis.
2- Delta Life Insurance Company Limited
Private insurance companies in Bangladesh started their journey in 1984 with the permission of the Bangladesh government. Delta Life Insurance Company is located in Uttara, Motijheel. The mission of this insurance company is to provide high insurance services like those in the Western countries.
3- Jiban Bima Corporation
Jiban Bima Corporation is a government-funded and state-owned insurance company in Bangladesh. The Life Insurance Corporation was formally established in Motijheel, Dhaka, in 1983, as per the provisions of the Insurance Act and Regulations. The title of this protections company comes from the Bengali language.
4- Popular Life Insurance Company Limited
Popular Life Protections Company Constrained was built up in 2000 beneath the Protections Act in Motijheel, Dhaka. This company has earned the trust of the people of Bangladesh with several benefits. Hundreds of agents are working in this insurance company.
5- Sandhani Life Insurance Company Limited
Sandhani Life Insurance companies Limited was established in 1990. This company has been providing their services in different parts of Bangladesh. As a result, the social and economic changes are increasing.
6- Meghna Life Insurance Company Limited
Meghna Life Insurance Company Limited was started mainly for the development of the people and the nation. This company was established in 1996 in Biman Bhaban, Motijheel, Dhaka. They always try to provide their services perfectly and consciously. This company has earned the trust and appreciation of the people in a short time.
7 – Takaful Life Insurance Company Limited
Takaful Life Insurance Company Limited is basically an Islamic based life insurance companies. If you want to get flight benefits along with Islamic Sharia, then this can be the best life insurance company for you to get financial services. Takaful Life Insurance Company Limited is unique in Islamic schemes.
Also, this company provides their services with great honesty. Since Bangladesh is a Muslim based state or country, considering this, they established this Takaful Life Insurance Company Limited company according to the provisions of Islam.
8- Pragati Life Insurance Company Limited
Pragati Life Insurance Company Limited provides financial services on a non-life basis. That is why it is called a non-life insurance company. Till now they have been able to successfully reach their services to the people.
9- Padma Life Insurance Company Limited
Padma Life Insurance Company Limited mainly provides their schemes on life based insurance. This insurance company is located in Dhaka Rupali Bima Bhaban. Here you can choose the schemes of your choice, which you can get high and low returns. This insurance company provides all kinds of services for people.
10- Sunlife Insurance Company Limited
Sunlife Insurance Company Limited was established in 2000 for the development of various business sectors, customer protection and others. This insurance company is one of the top insurance companies in Bangladesh. They mainly focus on the smallest families of the society.
How many government insurance companies are there in Bangladesh
There are only 2 government insurance companies in Bangladesh. And there are many private insurance companies. Of the two government companies,
one is Ichche Life and the other is non-life. One is called Jibon Bima Corporation and the other is called Sadharan Bima Corporation.
Both the companies are run under the direct control of the government and carry out various activities for the people.
What is insurance and how does it work?
Insurance is a contract or policy through which an organization (insurance company) provides protection against loss or danger against a certain amount of money. Usually, the person or organization pays a certain amount of money (premium) and the insurance company ensures that if any unexpected loss or accident occurs, they will pay for the compensation.
How insurance works:
Premium: The insured pays a certain amount of money (premium) to the insurance company.
Insurance policy: The insurance company issues a contract (policy), which clarifies the terms of protection and compensation.
Accident or loss: If the insured suffers any loss or accident, the insurance company pays the necessary amount for compensation.
Pre-conditions: The amount and conditions of compensation are predetermined in the insurance contract.
This is usually through life insurance, health insurance, car insurance, property insurance, etc.
For more information related to Insurance companies, keep an eye on the QuickGuide website.