Plan 08
Child Protection Assurance Plan -with profit
Children are the future leader of the nation. This plan is designed to ensure the safe and spontaneous life of the children, and to protect their lives from any financial shock in sudden absence of the parent(s). This plan will ensure the smooth academic life of your beloved children in your sudden absence. Under this plan both the premium payor and the child remain covered. The premium payor will be the father of the insured child, but, if the father is not alive, the mother will be the payor. In case of death of any one of payors or child premium, payment will be ceased but benefits will be paid as per terms and conditions.
Features of Child Protection Assurane Plan:
Sum Assured | Minimum Tk. 30,000 | ||||||||||
Policy Term | 10 – 20 years | ||||||||||
Age at commencement | Premium Payor: 20 – 55 years Assured Child: 6 month – 15years | ||||||||||
Age at maturity | Premium Payor: Minimum 30 Years, Maximum 65 years Assured Child: Minimum 18 years & Maximum 30 years | ||||||||||
Mode of payment | Quarterly, Half-Yearly, Yearly | ||||||||||
Policyholders eligibility | Father or Mother (working educated woman.) | ||||||||||
Benefits | |||||||||||
Maturity benefit | On the survival of the payor & child till the end of the term full Sum Assured with accrued bonuses will be paid. | ||||||||||
In case of death Payor | If the life assured (father and mother) dies within the term of the policy no further premiums will be payable. In such an event the following benefits are payable:
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Benefits on Death of Insured Child |
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In case of death both of Insured & Payor | Stipend payment will be ceased immediately. Sum Assured with accrued bonuses will be paid after maturity date to nominee(s). | ||||||||||
Income Tax | The Policyholder gets tax rebate facility against the paid policy premium. Death claim is tax free. 5% tax will be deducted from the net profits the Policyholder gets from the insurance company at the time of maturity payment. | ||||||||||
