Mercantile Deposit Protection Scheme (MDPS)

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.
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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.