Child Education Protection Plan

Child Education Protection Plan

Children are the future leader of the nation. This plan is designed to ensure the safe and spontaneous life of the children, and to protect their lives from any financial shock in sudden absence of the parent(s). This plan will ensure the smooth academic life of your beloved children in your sudden absence. Under this plan both the premium payor and the child remain covered. The premium payor will be the father of the insured child, but, if the father is not alive, the mother will be the payor. In case of death of any one of payors or child premium, payment will be ceased but benefits will be paid as per terms and conditions.


Features of Child Protection Assurane Plan:

Sum Assured Minimum Tk. 30,000
Policy Term 10 – 20 years
Age at commencement Premium Payor: 20 – 55 years
Assured Child: 6 month – 15years
Age at maturity Premium Payor: Minimum 30 Years, Maximum 65 years
Assured Child: Minimum 18 years & Maximum 30 years
Mode of payment Quarterly, Half-Yearly, Yearly
Policyholders eligibility Father or Mother (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.
In case of death Payor If the life assured (father and mother) dies within the term of the policy no further premiums will be payable. In such an event the following benefits are payable:
1. 1% (one percent) of the sum assured as stipend till the end of the policy term.
2. Full sum assured together with bonuses at the end of the policy term.
3. If after the death of the life assured the child dies within the term of the policy no benefits are payable within the term but full basic sum assured together with bonuses are payable.
Benefits on Death of Insured Child
Policy term completed at the time of the child’s death Benefits
No more than 6 months 25% of the basic sum assured
More than 6 months but not exceeding 12 months 50 % of the basic sum assured
More than 12 months but not exceeding 24 months 75% of the basic sum assured
More than 24 months 100% of the basic sum assured
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 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.