Chartered Three Payment Plan

If you make the habit of savings today definitely you might lead a peaceful, quiet & happy life in future. Chartered-Three Payment Plan is the most fabulous & popular Life Insurance Plan to its prospective clients throughout the country. This Plan provides high insurance protection and attractive returns on paid premium. It encourages savings to fulfill insured’s prospective future life.

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Features:

  • This plan assures emergency inflows of cash for necessity of policyholder
  • Premiums can be paid annually, half yearly & quarterly.
  • If partial payment is made, yet the full sum is to be paid to the beneficiary on death of policyholder.
  • Policy term would be for 12 years, 15 years, 18 years, 21 years & 24 years.
  • This policy would be surrendered after two yearly installments are paid.
  • Policy holder may obtain a loan (maximum 90% of surrender value) against the policy.
  • Minimum amount of the policy would be BDT 50,000.
  • Accidental Death Benefits (ADB) & Permanent Disabilities Accidental Benefits (PDAB) may be covered.
  • Income tax rebate may be obtained by taking the policy.
  • The claim amount is also tax free.

Survival Benefit:

  • The policy holder will receive 25% of the basic sum assured at the end of the one third of the premium payment term.
  • The policy holder will receive another 25% of the basic sum assured at the end of two-third of the premium payment term.
  • The policy holder will receive remaining 50% of the basic sum assured together with accrued bonus on maturity at the end of the term.

Death Benefit:

  • The nominee will receive full sum assured on death of the policyholder within the term of the policy together with the bonus accrued up to the date of his/her death.

An Example of the Plan:

For an inforced policy with a term of 12 years and basic Sum Assured of BDT 1,00,000/=, the policyholder will receive BDT 25,000/= at the end of the 4th year, another BDT 25,000/= at the end of 8th year and the remaining payment of BDT 50,000/= plus accured bonus at the end of 12 years. i.e. at the maturity of the policy.

For an inforced policy, at the event of death of the policy holder, the nominee will receive BDT 1,00,000/= plus accured bonus even after the partial payments are made.