Child Education Security Plan
Today’s child is tomorrow’s responsible citizen. The principle objective is to provide future for a child by ensuring his or her financial security. Under this policy, you can put aside a fixed amount of money for your child and this savings will ensure a bright future for him in turn. By paying premium until maturity, both you and your named child will be insured under this policy.
Features
- The principle objective of this plan is to ensure child’s future financial security
- Under this policy both Premium Payer and the named child will be insured.
- In the event unfortunate death of the premium payer, the insured child will get 1% of sum assured as monthly stipend till the maturity.
Eligibility
- Entry Age: Minimum 21 years to maximum 50 years
- You must be the father of the named child to purchase the policy. In case the father is not alive, child’s mother can be premium payer considering she has an earning of her own.
- The policy applicant must have own, valid & regular income.
Child’s Age
- Minimum Age: 06 Months [180 Days]
- Maximum Age: 15 Years
- Age cannot exceed 30 years at maturity of the plan
Parameters
- Tenor/Term: Minimum 10 years to maximum 25 years
- Premium Mode: Monthly, Quarterly, Half-yearly & Yearly
- Minimum installment is BDT 5000
Policy Benefit
- Maturity Benefit:
If both the Policy Holder and beneficiary child survive till the end of the term, the policy holder gets full Sum Assured along with accrued bonus.
- Death and Disability Benefits:
- In case of Death of the Policy Holder: (Guardian/Parent) In case of death of the policy holder the beneficiary child will get the below mentioned facilities:
- Monthly BDT 1% of Sum Assured will be provided to the child as stipend till maturity of the plan.
- All future Premiums will be waived.
- Full sum assured including accrued bonus will be paid to designated legal guardian at maturity.
- In case of Permanent & Total Disability:
- Monthly Tk 1% of Sum Assured will be provided to the child as stipend till maturity of the plan.
- All future Premiums will be waived
- Full sum assured including accrued bonus will be paid to designated legal guardian at maturity.
- In case of the death of the beneficiary child:
- Within 6 Months – 25% of Sum Assured
- Between 6 to 12 Months - 50% of Sum Assured
- Between 12 to 24 Months - 75% of Sum Assured
- More than 24 Months - 100% of Sum Assured
- Income Tax Rebate facility:
- The policy Holder will get benefit of 15% income tax rebate on the premium paid every year as per the income tax policy of the government.
- Death and living claim amount is completely tax free.
- Paid up Value: After continuing the policy at least two years, the policy acquires Paid up value. Paid up value is payable with accrued bonus at the end of policy term.
Applicable Riders
With this policy no additional rider is available.