Leading Insurance Products Available in Bangladesh
Group Life, Accident and Health Insurance Packages:
• Group Term Life (GT) Insurance Scheme (for employees of any organization) provides a coverage amount in the event of death of an Insured Employee from any cause.
• Accidental Death Benefit provides an additional coverage amount (with GT benefit) to the beneficiary of the insured employee if he/she dies from direct cause of accidental injury.
• Permanent Total Disability (PTD) benefit pays to the Insured Employee a coverage amount if he/she becomes totally and permanently disable due to accident.
• Permanent Partial Disability (PPD) Benefit pays to the Insured Employee a specified % of coverage amount if he/she becomes partially and permanently disable due to accident.
• Hospitalization Insurance Plan reimburses treatment expenses to the insured member if he/ she has to get admitted in any HOSPITAL for treatment due to Injury or Sickness.
• Maternity (Child Birth / Legal Abortion / Miscarriage) Insurance benefits reimburses treatment expenses for child birth or Miscarriage in any hospital.
• General Out-Patient Medical Benefits reimburses treatment expenses to the insured member for his/her general out-door treatment (consultations, check-up and medicines) due to Injury or Sickness.
• Dental Out-Patient Treatment Benefits reimburses treatment expenses to the insured member for his/her dental out-door treatment (consultations, check-up and medicines, Scaling, Fillings, capping or Root Canal) due to Injury or Sickness.
• Optical Out-Patient Treatment Benefits reimburses treatment expenses to the insured member for his/ her optical out-door treatment (Consultation, Check-up, Medicine, Prescribed Lenses an it’s frame) due to Injury or Sickness.
• Group Critical Illness Benefits provides a coverage amount to the insured member for treatment of below mentioned 18 Terminal Illnesses: 1. Cancer, 2. Stroke, 3. Myocardial Infarction, 4. Renal failure, 5. Paralysis, 6. Coronary artery surgery, 7. Major organ transplant, 8. Blindness, 9. Heart valve replacement, 10. Surgery for disease of Aorta, 11. Multiple Sclerosis, 12. Aplastic Anaemia, 13. Malignant Brain Tumour, 14. End Stage of Lung Disease, 15. Major Head trauma, 16. Complete Deafness, 17. Loss of Limbs, 18. Loss of Speech.
• Group Accidental Medical Expense Reimbursement (AMR) Benefits reimburses treatment expenses to the insured employee if he has to take treatment due to Accidental Injury.2. General Insurance (Non-Life) Benefits:
a) Fire Insurance covers Fire, Lightning and Explosion (domestic & industrial) as below:
• Fire and Allied Perils Insurance
• Industrial All Risk Insurance Including Machinery
• Break-down and Business Interruption
• Property All Risk Including Business Interruption
• Power Plant Operational Package Insurance
• Comprehensive Machinery Insurance (CMI)
b) Page BreakMarine Insurance: It comprises of:
• Marine Cargo Insurance provides insurance coverage for loss of or damage to goods during transit by sea, rail, road, air in Domestic and International Trade.
• Marine Hull Insurance provides coverage for loss of ships, Hull, machinery etc.
c) Motor Vehicle Insurance policywill reimburse forVehicle Damage,Death or bodily injury to passenger & third parties, Third party property damage of(i)Private Vehicle, (ii) Commercial Vehicle and (iii) Motor Cycle.
d) Engineering Insurance –
• Contractors’ All Risk Insurance (CAR), and Erection All Risk Insurance (EAR)
• Boiler & Pressure Vessel Insurance (BPV), and Machinery Breakdown Insurance (MBD)
• Deterioration of Stock Insurance (DOS), and Electrical Equipments Insurance (EEI)
• Contractors’ Plant & Machinery Insurance (CPM)
e) Money Insurance – Money Insurance (for Bank), Cash in Transit Insurance, Cash on Premises Insurance, Cash in Safe Insurance, Cash on Counter Insurance, ATM Risk Insurance, Bank Lockers Insurance, Fidelity Guarantee Insurance, Bankers’ Blanket Bond Insurance.
f) Industrial Accidental Insurance –
• Burglary & House Breaking Insurance
• Workmen’s Compensation Insurance
• Peoples Personal Accident Insurance
• Public Liability Insurance, and Product Liability Insurance
• Directors & Officers’ Liability Insurance
• Comprehensive General Liability Insurance
g) Aviation Insurance covers accidental loss of Aircrafts and injuries/ death of Passengers.
h) Health Insurance –
• Overseas Mediclaim Insurance;
• Health policy reimburses for hospitalization expenses for diseases or accidental injuries sustained during the policy period.
i) All Risk Insurance: Specially suitable for covering jewelry, valuables, curios, antiques and other works of art, paintings, watches, cameras and other similar articles.
j) Burglary Insurance: Burglary insurance is a policy that covers losses resulting from a burglary. Burglary denotes the act of entering a property unlawfully with the intention of committing a crime and it might not always involve theft. People also refer to burglary insurance as crime insurance.
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