Moneyback Term Insurance Plan

Moneyback Term Insurance Plan

Under the Moneyback Term Insurance Plan the policyholder shall be refunded of all the premiums paid during the term of the policy along with an amount equal to 25% of basic Insured Amount on maturity of the policy. The nominee of the policy will receive full sum assured on death within the term of the policy.


Features of Money Back Term Insurance Policy:


Sum Assured Minimum Tk. 30,000.00
Policy Term 10, 15 and 20 years
Age at commencement Minimum 20 Years, Maximum 50 years
Age at maturity Minimum 30 Years, Maximum 60 Years
Mode of payment Quarterly, Half-yearly, Yearly
Policy period alteration No Alteration of Policy Period is Possible in this policy.
Rider Cover Policyholder can take additional rider coverage as follows:
1. Double Indemnity Accident Benefit (DIAB) and
2. Permanent Disability and Accident Benefit (PDAB)
Benefits
Maturity benefit The policyholder will receive return of all premiums paid during the term of the policy along with 25% of basic sum assured on maturity of the policy.
Death benefit On death of the insured during the term of the policy the nominee(s) will be paid 100% of the Insured Amount.
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.