3 Stage Payment Plan (Anticipated Endowment)
3 Stage Payment Plan (Anticipated Endowment)
The policyholder of this plan will be able to accomplish the financial requirements for a number of times in the policy period. This is a very popular plan due it’s feature of ‘3 stage payment of the policy benefits’ during the policy period.
Features of 3 Stage Payment Policy:
| Sum Assured | Minimum Tk. 30,000 |
| Policy Term | 12, 15, 18, 21, 24 years |
| Age at commencement | Minimum 20 years, Maximum 55 years |
| Age at maturity | 65 years (Max) |
| Mode of payment | Quarterly, Half-Yearly, Yearly |
| Benefits | |
| During policy (Survival Benefit) | 25% of Sum Assured will be paid after completion of 1/3 of policy period. 25% of Sum Assured will be paid after completion of 2/3 of policy period. |
| Maturity benefit | Remaining 50% of Sum Assured along 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). |
| 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) |
