Child Protection Plan

(With Profits)

Introduction:

Under this policy the risk is taken combined on premium payor and child’s life. Only males and educated females can take this policy & in case of death of any one of payor or child premium payment will be ceased but benefits will be paid as per rules and regulations.

Sum Assured

Minimum Tk. 30,000

Premium

Minimum Tk. 1,542 Yearly

Policy Term

10 - 24 years

Age at commencement

Policyholder: 20 – 50 years

Beneficiary child: 6 month – 15years

Age at maturity

Policyholder: Maximum 65 years

Beneficiary child: Minimum 18 years & Maximum 25 years

Mode of payment

Yearly

Policyholders eligibility

Male or 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 to the child.

In case of death

Payor

  • 10% of Sum Assured will be paid per year in advance to beneficiary child as stipend.
  • End of the term Sum Assured with accrued bonuses will be paid to the child.

In case of death of Beneficiary child

Incremental benefit at the rate of 10% per annum will be paid on annual basis to the payor for 10 years.

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’s payment net of total premium deposited is subject to 5% tax deduction.
  • The Policyholder can avail tax rebate facility against the policy.
  • Death claim is tax free.