Product Plan: Mercantile Deposit Protection Scheme (MDPS)
- This plan assures the policyholder to receive full sum assured together with accrued bonuses on maturity.
- The nominee of the policyholder will receive full sum assured with accrued bonus on death of policyholder.
- Minimum policy term would be for 10 years, and maximum would be for 25 years.
- Minimum monthly premium would be BDT 300.
- Minimum age of buying policy is 20 years and maximum age is 55 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.
- Income tax rebate may be obtained by taking the policy.
- The claim amount is also tax free.
- Survival Benefit:
The policyholder will receive full sum assured together with accrued bonuses 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 accrued bonuses.