The main aim of this plan is to ensure the financial security of the family members of the policy holders. As the policy holder has to pay a single premium this plan is very suitable and reliable for businessmen and non-residential Bangladeshis. The term time under this plan is normally 6, 8, 10, 12 and 15 years.
If the policy holder survives till the end of the term he/she will receive two times of the basic sum assured on maturity of the policy.
The nominee of the policy holder will receive two times of the basic sum assured on death of the policy holder before maturity of the policy.
# The insurance premium paid by the policy holder as well as any claims paid to the policy holder are exempted from any income taxes.
# The policy holder will only have to pay a premium once while taking the policy. And as a result, the policy holder will be relieved from paying any further premiums on a regular basis. This plan can also be a good source of fund for higher education and/or marriage of the policy holder's children.
# The underwriting requirements will depend on Risk Amount (which is two times the sum assured).
# The minimum sum assured can be Tk. 20,000/- (Taka Twenty Thousand) and the maximum sum assured can be Tk. 50,00,000/- (Taka fifty Lacs).
# No other benefits can be taken under this plan.