Term Benefit Pension Insurances Policy BD

Insurances: From the data available on the population of Bangladesh, it can be seen that the number of elderly people is increasing rapidly in Bangladesh. To make the retirement life of these elderly people relaxed, prosperous and peaceful, the Life Insurances Corporation has launched this new scheme “Term Benefit Pension Insurances”.

Suitable for:

Individuals working in various positions, businessmen, expatriates or other professionals. This scheme is for those who are interested in ensuring the financial security of their family and receiving pension after the term.

Features:

• Entry age: Minimum 20 years and maximum 60 years.
• Premium payment method: Semi-annual and annual.
• Insurances term: Minimum 5 (five) years and maximum 45 years.
• Sum insured: Minimum 50,000.00 (fifty thousand taka) and maximum sum insured according to the ability of the insured.
• The insured can take guaranteed pension for a period of 10, 15 or 20 years as per the wish.
• If the insured dies before the specified date of commencement of pension payment, the nominee will receive the full sum insured along with the accrued bonus.
• If the insured dies after the commencement of pension payment, the nominee will receive pension for the remaining period.
• Age to start receiving pension is 55 to 65 years.
• During the insurances term, the insured will be entitled to the benefits of paid-up value, surrender and taking loans as per the conditions.
• Income tax rebate will be available on the premium paid.
• No rebate is applicable on the sum assured and payment method in this insurances.
• Option “C” will be applicable in this insurances.
• Supplementary benefit can be taken with this insurance.
• Posthumous claim money is completely exempt from income tax.

Three Installment Insurances

Our expected term insurances can make your future possible. Our expected term insurance is well known among the insurance customers as ‘Three Installment Insurance Policy’. That is, if the insured survives, the insurance term is divided into three parts and 25%, 25% and the remaining 50% of the sum insured and a specified bonus are paid at the end of each part of the term.

Through this, the insured mainly gets 2 benefits:

(1) Since the insured sum is received in three installments during the term, this insurances is able to meet financial needs more than once in the future.

(2) In case of death during the term of the insurance despite paying the first or second installment, the full sum insured and the bonus are paid at the specified time. This is the most attractive aspect of this insurance.

Special Benefits:

(a) It is possible to deposit the premium of the insurances policy with the dividend received by investing the first installment (25% of the sum insured) elsewhere. In addition, the first installment amount received will remain as capital.

(b) The entire amount received in the 2nd installment (25% of the sum assured) can be invested in the same manner and profited.

(c) As the 3rd installment (sixth installment), the insured will receive the remaining 50% of the sum assured as a bonus at the specified time.

(d) During the insurance period, the main insurance amount will remain as a risk on life and at the end of the period, there will be unimaginable savings, which will bring financial security to your life.

In addition, if the additional risk of accidental death and dismemberment (DIAB or PDAB) is taken, the following benefits are provided:

(a) If the insured dies in an accident (within 90 days/immediately) even after paying only 1 premium, then the nominee will receive double the sum assured.

(b) If the insured loses 1 leg/1 hand/1 eye in an accident during the insurance period, half the sum assured (50%) will be paid immediately. The basic insurance amount will be paid as usual at the end of the specified period.

(c) If both hands/both legs/both eyes are lost or if 1 hand and one leg are lost, an amount equal to the sum insured will be paid immediately. The remaining premiums paid in the future will be waived. The basic insurance amount will be paid at the end of the specified period of insurance.

(d) If the insured becomes completely or permanently disabled due to an accident – one-tenth of the sum insured will be paid as an annuity or allowance for the next 10 (ten) years. All premiums paid in the future will be waived. The basic insurance amount will be paid at the end of the specified period.

The popularity of expected term or three-installment insurance is growing rapidly. The reason is that the insured can use the insurance money in profitable sectors or constructive work step by step during his life.

You can also participate in this life insurance plan with confidence by purchasing a policy. This insurance is for a period of 12, 15, 18, 21, 24 or 30 years.

The installments payable at different times during the term are as follows:

• (a) 25% of the sum assured after one-third of the term has elapsed.
• (b) 25% of the sum assured after two-thirds of the term has elapsed.
• (c) The remaining 50% at the end of the term.

Related Topics: Life Insurance Corporation of Success and Progress