Fareast Deposit Pension Scheme -FDPS

(With Profits)

Introduction:

The opportunity of monthly deposit premium can attract equally to all. The policyholder can avail pension benefit in this policy as well.

Sum Assured

Minimum 2 units (12,000 x 2) = Tk. 24,000

Monthly premium

Minimum Tk. 200

Policy Term

12 years

Age at commencement

Maximum 43 years

Age at maturity

Maximum  55 years

Mode of payment

  • Monthly
  • Quarterly, Half-yearly, Yearly in advance
  • No partial payment of units.

Benefits:

During policy

(Survival Benefit)

25% of Sum Assured will be paid after completion of 1/2 of policy period.

Maturity benefit

Remaining 75% of Sum Assured with accrued bonuses will be paid.

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).

Pension

  • Policyholder can avail monthly pension benefit for 10 years instead of one time maturity benefit.
  • On death of the insured during 10 years guaranteed pension period the nominee(s) will be paid the remaining installment of guaranteed pension.

Surrender

The insured can avail Surrender/ Encashment value after completion of 2(two) years.

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.