Product Name: Single Premium Classic
Policy Duration: 6 Years & 10 Years
Premium: BDT. 100,000
Income Tax Rebate: Insured will get a certificate for Premium deposit which can be used for Income Tax rebate.
By Chartered Life Insurance Company Limited
Plan Schedule: The below plan schedule is based on one time premium of BDT. 100,000,00 (BDT. One Lac). Any customer may take any amount multiple of BDT. 100,000.00 (BDT. One Lac). Maturity value shall be multiplied accordingly.
Product Summary
| Number of years | Total Deposited Amount | Guaranteed Maturity Amount (BDT.) |
|---|---|---|
| Natural Death | BDT. 100,000.00 | BDT. 136,000.00 |
| Accidental Death | BDT. 100,000.00 | BDT. 170,000.00 |
Any person age between 18 years to 69 years and in good health condition can take this Insurance Plan. Retirement age is 75 years.
Claim will be settled as 100% of deposited amount Plus
- 10% of the deposited amount for death within 2nd year
- 15% of the deposited amount for death between 2nd year to 4th year
- 20% of the deposited amount for death between 4th Year to 6th Year
- 25% of the deposited amount for death between 6th year to 8th year
- 30% of deposited amount for death after 8th year
- Survival Benefit: At the end of maturity period, customers will get survival benefit as per mentioned at the time of enrollment. Maturity value shall be pre-determined and have to be calculated on the deposited amount and tenor of the Insurance Plan. For 6 years plan interest rate is 6% flat interest on deposited amount and for 10 years plan interest rate is 7% flat interest rate and shall be paid upon maturity only.
- Surrender value: Any customer may surrender his/her policy any time after completion of 24 months period. Surrender value shall be the account value (deposited amount – (minus) any expenditure related to the policy + any interest earned in flat rate) only. All other guidelines provided by IDRA will be applicable.
- Loan Amount: Any Insured may avail 80 % of surrender value of the said policy as loan after completion of 24 months period. 14% interest accumulated interest shall be applicable on outstanding loan.
- Income Tax Rebate: Insured will get a certificate for Premium deposit which can be used for Income Tax rebate.