5 Stage Payment Plan (Anticipated Endowment)

5 Stage Payment Plan (Anticipated Endowment)

This is a very attractive insurance policy for savings plan. Under this insurance plan, a policyholder gets the facility of meeting his / her financial necessity several times during the total policy tenure as it has 5 stages of “insurance maturity benefits” payment.


Conditions and Benefits of the Policy:

Sum Assured Minimum Tk. 30,000
Policy Term 10, 15, 20, 25 or 30 years
Age at commencement 20 – 55 years
Age at maturity 65 years (Max)
Mode of payment Quarterly, Half-yearly, Yearly
Benefits
During policy 10% of Sum Assured will be paid after completion of 1/5 of policy period
15% of Sum Assured will be paid after completion of 2/5 of policy period
20% of Sum Assured will be paid after completion of 3/5 of policy period
25% of Sum Assured will be paid after completion of 4/5 of policy period
Maturity benefit Remaining 30% of Sum Assured with accrued bonuses will be paid.
Death benefit On death of the insured during the term of the policy 100% Sum Assured with accrued bonuses will be paid to the nominee(s).
The special benefit of this plan is that No Partial Payment Paid Earlier will be deducted from the payable Sum Assured during payment of the Death Benefits.
Investment The insured can avail the investment facility (maximum 90% of Surrender/ Encashment value) after completion of 2(two) years.
Surrender 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.
Rider Cover Policyholder may take the below additional rider coverage at very small amount of premium:
Double Indemnity Accident Benefit (DIAB) and
Permanent Disability and Accident Benefit (PDAB)