Plan 13
Monthly Savings Insurance Plan -with profit
Financial Benefits and Security of Insurance Policy are mostly needed for the poorer families of the country. Protective Islami Life Insurance Ltd. has introduced Monthly Savings Insurance Plan -with profit which is a short term savings plan for the policyholders. As the premium is payable monthly and the amount is very small, people with low income can afford this policy. This policy will give financial solvency to the low income population of the country.
Eligibility Conditions and Other Restrictions:
Minimum Sum Assured | Tk.30,000.00 |
Maximum Sum Assured | Tk.10,00,000.00 |
Policy Term | Minimum 10 years, and Maximum 25 years |
Policy period alteration | No Alteration of Policy Period is Possible in this policy. |
Age at commencement | 20 – 55 years |
Age at maturity | 70 years (Max) |
Mode of payment | Monthly |
Maturity benefit | On the survival of the insured till the end of the term full Sum Assured with accrued bonuses will be paid to the insured. |
Death benefit | On death of the insured during the term of the policy Sum Assured with accrued bonuses will be paid to the nominee(s). |
Rider Cover | No Rider is Covered in this Policy. |
Investment | The insured can avail the investment facility (maximum 90% of Surrender/ Encashment value) after completion of 2(two) years. |
Surrender & Paid-Up | The insured can avail Surrender/ Encashment value after completion of 2(two) years. |
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. |
