Child Protection Plan-with profits (Plan

Child Protection Plan-with profits (Plan - 011)

Under this policy the risk is taken combined on premium payor and child’s life. Only Father and educated Mother can take this policy & in case of death of any one of payor or child the premium payment will be waived but benefits will be paid as per rules and regulations.

Sum Assured	Minimum Tk. 20,000
Premium	Minimum Tk. 1,000 Yearly
Policy Term	12 - 25 years
Age at commencement	Policyholder: Maximum 50 years Beneficiary child: 6 month – 18 years
Age at maturity	Policyholder: Maximum 65 years Beneficiary child: Minimum 18 years & Maximum 30 years
Mode of payment	Yearly, Half-yearly
Policyholders eligibility	Male or working educated woman.

Benefits:

Maturity benefit	On the survival of the payor & child till the end of the term full Sum Assured with accrued bonuses will be paid to the child.
In case of death of Payor	Premium payment will be waived. 1% of Sum Assured will be paid per month in advance to beneficiary child as stipend. End of the term Sum Assured with accrued bonuses will be paid to the child.
In case of death of Beneficiary child	If the death occurs - 6 months to within 1 year of the policy term, the Payor /nominee will get 25% of Sum Assured after 1year to within 1.5 year of the policy term, the Payor /nominee will get 50% of Sum Assured. after 1.5 year to within 2 year of the policy term, the Payor /nominee will get 75% of Sum Assured after 2 years of the policy term, the Payor /nominee will get 100% of Sum Assured.
In case of death both of insured & payor	Stipend payment will be ceased immediately. Sum Assured with accrued bonuses will be paid after maturity date to nominee(s).
Income Tax	Deduction of 5% tax from any payment in excess of premium paid. The Policyholder can avail tax rebate facility against the policy. Death claim is tax free.