Introduction :

Endowment Insurance is most familiar & popular life insurance plan in the country. This plan encourages force savings to fulfill your dream. It ensures safe investment, provides financial security, and brings mental peace.

Features:

  • This plan assures the policyholder to receive the desired amount with accrued bonuses at the maturity of the policy or to the nominees for immature death of policyholder
  • Policy term may be for 10 years, 15 years, 20 years.
  • Policy holder may surrender the policy at least after the full payment of two consecutive year’s premium and will receive surrender value quoted at the time of surrender.
  • Policy holder may obtain a loan (maximum 90% of surrender value) against the policy by mortgaging it.
  • Accidental Death Benefits (ADB) & Permanent Disabilities Accidental Benefits (PDAB) may be covered
  • Income tax rebate may be obtained by taking the policy.
  • The claim amount is also tax free

Benefit:

  • Survival Benefit: The policy owner will receive full sum assured along with accrued bonuses on maturity at the end of the term.
  • Death Benefit: The nominee of the policyholder will receive full sum assured along with bonuses accrued on death of the policyholder within the term of the policy together with bonuses accrued up to the date of his/her death.

Introduction :

If you make the habit of savings today definitely you might lead a peaceful, quiet & happy life in future. Three Stage Payment Assurance Plan is the most fabulous & popular Life Insurance Plan to its prospective clients throughout the country. This Plan provides high insurance protection and attractive returns on paid premium. It encourages savings to fulfill insured’s prospective future life.

Features:

  • This plan assures emergency inflows of cash for necessity of policyholder
  • Premiums can be paid annually, half yearly & quarterly
  • Policy term would be for 12 years, 15 years, 18 years, 21 years & 24 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.
  • Accidental Death Benefits (ADB) & Permanent Disabilities Accidental Benefits (PDAB) may be covered
  • Income tax rebate may be obtained by taking the policy.
  • The claim amount is also tax free

Benefit:
* Survival Benefit: The policy holder will receive 25% of the basic sum assured at the end of the one third of the premium payment term.

The policy holder will receive another 25% of the basic sum assured at the end of two-third of the premium payment term

The policy holder will receive remaining 50% of the basic sum assured together with accrued bonus 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 the bonus accrued up to the date of his/her death.

Introduction :

To fulfill the situation demand and policyholder gets the payment security in 4 installments, Mercantile Islami Life Insurance Limited launched this most popular product for our prospective customers. As the policyholder getting the installment during the term of the policy, they can utilize the money to bear the child education expense, to establish new business line and others.

Features:

  • This plan assures emergency inflows of cash for necessity of policyholder
  • Premiums can be paid annually, half yearly & quarterly
  • Policy term would be for 12 years, 16 years, 20 years & 24 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.
  • Accidental Death Benefits (ADB) & Permanent Disabilities Accidental Benefits (PDAB) may be covered.
  • Income tax rebate may be obtained by taking the policy.
  • The claim amount is also tax free.

Benefit:

  • Survival Benefit:
      1. The policy holder will receive 20% of the basic sum assured at the end of the one-fourth of the premium payment term.
      2. The policy holder will receive another 20% of the basic sum assured at the end of two-fourth of the premium payment term.
      3. The policy holder will receive another 20% of the basic sum assured at the end of three-fourth of the premium payment term.
      4. The policy holder will receive remaining 40% of the basic sum assured together with accrued bonus 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 the bonus accrued up to the date of his/her death

Introduction :

Five Stage Assurance Plan is fabulous & more attractive to provide financial support to you. This plan provides financial security as well as frequent and early returns on paid premium. You can further reinvest or utilize the partial returns to fulfill your future dreams as your choice.

Features:

  • This plan assures emergency inflows of cash for necessity of policyholder.
  • Premiums can be paid annually, half yearly & quarterly.
  • Policy term would be for 10 years, 15 years, 20 years, 25 years & 30 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.
  • Accidental Death Benefits (ADB) & Permanent Disabilities Accidental Benefits (PDAB) may be covered.
  • Income tax rebate may be obtained by taking the policy.
  •  

Survival Benefit:

  • The policyholder will receive 10% of the basic sum assured at the end of the one-fifth of the premium payment term.
  • The policyholder will receive another 15% of the basic sum assured at the end of two-fifth of the premium payment term.
  • The policyholder will receive remaining 20% of the basic sum assured at the end of three-fifth of the premium payment term.
  • The policyholder will receive remaining 25% of the basic sum assured at the end of four-fifth of the premium payment term.
  • The policyholder will receive remaining 30% of the basic sum assured together with accrued bonus on maturity at the end of the term.

Death Benefit: The nominee will receive full sum assured (with rider’s benefit, if applicable) on death of the policyholder within the term of the policy together with the bonus accrued up to the date of his/her death.

Features:

  • This plan assures the policyholder to receive the full sum assured together with accrued bonuses on maturity.
  • The nominee of the policyholder will receive full sum assured with accrued bonuses on death of the policyholder.
  • Minimum policy term would be for 5 years, and maximum would be for 15 years.
  • Minimum face amount/ basic sum assured of the policy would be BDT 100,000 and maximum would be BDT 10,00,000.
  • Premiums can be paid annually, half yearly & quarterly.
  • 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.Accidental Death Benefits (ADB) & Permanent Disabilities Accidental Benefits (PDAB) may be covered.Income tax rebate may be obtained by taking the policy.The claim amount is also tax free.

Benefit:

  • Survival Benefit: The policyholder will receive the full sum assured together with accrued bonuses on maturity at the end of the term. The policyholder can utilize the maturity benefit for performing Hajj or for any other purpose. If he/she requires cash benefit before the maturity of the policy he/she can surrender the policy and receive cash surrender value to be quoted by the Company at the time of surrender of the policy.

 

  • Death Benefit: The nominee will receive full sum assured on death of the policyholder within the term of the policy together with accrued bonuses.

Introduction :

Denmohor Bima is unique insurance plan innovated by Mercantile Islami Life to provide financial security for the married or bachelor individuals to pay off the denmohor to their spouse. According to Mohamedan and Contract Law, it is obligatory for the husband to pay his wife this rightful money agreed upon the contract of marriage (kabinnama) as soon as possible. Mercantile Islami Life Insurance Limited is presenting you this plan to meet the expense of denmohor.

Features:

  • This plan is for incumbent male person whether married or bachelor to provide financial security to pay off denmohor to their spouse.
  • Minimum age of entry is 20 years and maximum age is 55 years.
  • Premiums can be paid annually, half yearly or quarterly.
  • Minimum and maximum policy term would be 10 years and 20 years.
  • Policyholder may surrender the policy at least after the full payment of two consecutive year’s premium and will receive surrender value quoted at the time of surrender.
  • Policyholder may obtain a loan (maximum 90% of surrender value) against the policy by mortgaging it.
  • Accidental Death Benefits (ADB) & Permanent Disabilities Accidental Benefits (PDAB) may be covered.
    • Income tax rebate may be obtained by taking the policy.The claim amount is also tax free.



Benefit:

  • Survival Benefit: The policyholder will receive full sum assured together with accrued bonuses on maturity at end of the term. The policyholder can utilize the maturity benefit for settlement of denmohor or for any other purposes. If the policyholder requires cash benefit before the end of the stated term he can surrender the policy and receive cash surrender value to be quoted by the Chartered Life.

 

  • Death Benefit: The beneficiary/nominee will receive full sum assured on death of the policyholder within the term of the policy together with bonuses accrued up to the date of his death.

Introduction :

The Child of today is the future of tomorrow. Mercntile Islami life Insurance Limited is devoted to ensure their secured future through this Child Protection Assurance Plan.

Features:

  • This policy will cover both the lives of child & the policyholder.
  • The child’s minimum age at entry is 06 (six) months & the maximum age is 15 years and maturity age minimum 18 and mazimum 25 years.
  • Minimum and maximum age of policyholder for entry is 20 years is 55 years.
  • Premiums can be paid annually or half yearly.
  • Minimum and maximum policy term would be 10 years and 20 years respectively.
  • Minimum amount of the policy would be BDT 50,000 & maximum can be determined by policyholder’s desire
  • Policyholder may surrender the policy at least after the full payment of two consecutive year’s premium and will receive surrender value quoted at the time of surrender.
  •  

Policyholder may obtain a loan (maximum 90% of surrender value) against the policy by mortgaging it. Income tax rebate may be obtained by taking the policy. The claim amount is also tax free.

 

Survival Benefit:

  • If the policyholder and the child survive till the end of the term full basic sum assured along with accrued bonuses will be paid.
  • If after the death of the policyholder, the child dies within the term no benefits are payable within the term but end of the term full basic sum assured along with accrued bonuses will be paid.

Death Benefit:

  • If the policyholder (father or mother) dies within the term of the policy no further premium will be payable. In such an event the following benefits are payable:
  • 1% of the sum assured will be paid as stipend till the end of the policy term.
  • Full sum assured will be paid at the time of maturity.
  • If the nominee/child dies before the maturity the following benefits are payable:

 

  • SLPolicy term at child’s deathBenefits

    1

    		Not more than 06 months25% of the basic sum assured
    2More than 06 months but less than 12 months50% of the basic sum assured
    3More than 12 months but less than 24 months75% of the basic sum assured
    4More than 24 months100% of the basic sum assured

Features:

  • This plan assures the policyholder to receive twice of the basic sum assured at the maturity of the policy or to the nominees for immature death of policyholder Premium to be paid on single installment.
  • Policy term would be for 6 years to 15 years respectively.
  • Minimum face amount/ basic sum assured of the policy would be BDT 10,000
  • Minimum age of buying policy is 18 years and maximum age is 55 years.
  • Income tax rebate may be obtained by taking the policy.
  • The claim amount is also tax free.

 

Benefit:

  • Survival Benefit : The policyholder will receive twice the basic sum assured on maturity of the policy.
  • Death Benefit: The nominee will receive twice the basic sum assured on death of the policyholder within the term of the policy.

Features:

  • This plan assures the policyholder to receive annual pension stated in the policy document for a guaranteed period of ten years and as long as he/she is alive thereafter.
  • This plan also assures the nominees of the policyholder to receive ten times the amount of annual pension for immature death of policyholder.
  • Premium can be paid on annually, half yearly, quarterly & monthly basis.
  • Minimum policy term would be for 5 years.
  • Minimum face amount/ basic sum assured of the policy would be BDT 10,000.
  • Minimum premium would be BDT 666.
  • Minimum age of buying policy is 20 years and maximum age is 55 years.
  • 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.



Benefit:

  • Survival Benefit:
    The policyholder will receive annual pension stated in the policy document for a guaranteed period of ten years and as long as he/she is alive thereafter.

 

  • Death Benefit:
    The nominee will receive ten times of the amount of annual pension for immature death of the policyholder.

Features:

  • 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 the death of the policyholder.
  • The minimum policy term would be for 10 years, and the maximum would be for 25 years.
  • The minimum monthly premium would be BDT 300.
  • The minimum age of buying the policy is 20 years and the maximum age is 55 years.
  • This policy would be surrendered after two yearly installments are paid.
  • The policyholder 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.
  •  

Benefit:

  • 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.