Chartered Child Education Protection Plan

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Features:

The Child of today is the future of tomorrow. Chartered life is devoted to ensure their secured future through this Chartered-Child Plan.

  • This policy will cover both the lives of child & the policyholder.
  • The child’s minimum age at entry is 30 Days & the maximum age is 15 years.
  • Minimum and maximum age of policyholder for entry is 21 years is 55 years.
  • Premiums can be paid annually, half yearly, quarterly or Monthly
  • Minimum and maximum policy term would be 10 years and 25 years respectively.
  • Minimum amount of the policy would be BDT 100,000 & maximum can be determined by policyholder’s desire.
  • Policyholder may surrender the policy at least after the full payment of two consecutive year’s premium and will receive surrender value quoted at the time of surrender.
  • Policyholder may obtain a loan (maximum 90% of surrender value) against the policy by mortgaging it.
  • If the policyholder desires, AD&D and AMR riders may be included by paying an additional premium.
  • Income tax rebate may be obtained by taking the policy.
  • The claim amount is also tax free

Survival Benefit:

  • If the policyholder and the child survive till the end of the term full basic sum assured along with accrued bonuses will be paid.

Death Benefit:

A.If the Policyholder dies or becomes permanently disabled due to accident or illness and the Insured Child survives while the policy is in force:

  • All future premiums are waived.
  • 1.5% of the sum assured will be paid as stipend till the end of the policy term.
  • Full sum assured will be paid at the time of maturity.

B. If the Child dies within the term of the policy then the policyholder (Father or Mother) will receive benefits described in the policy document. i.e.

  • Not more than 06 months 30% of the basic sum assured.
  • More than 06 months but less than 12 months 50% of the basic sum assured.
  • More than 12 months but less than 24 months 80% of the basic sum assured.
  • More than 24 months 100% of the basic sum assured.

C. If after the death of the policyholder the child also dies within the term of the policy then the ongoing stipend wil be ceased and the nominee will receive the Sum Assured along with accrued bonuses.