Features:
The Child of today is the future of tomorrow. Chartered life is devoted to ensure their secured future through this Chartered-Child Plan.
- 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.
- Minimum and maximum age of policyholder for entry is 20 years is 55 years.
- Premiums can be paid annually, half yearly or quarterly.
- 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.
- 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
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.
- Not more than 06 months 25% of the basic sum assured.
- More than 06 months but less than 12 months 50% of the basic sum assured.
- More than 12 months but less than 24 months 75% of the basic sum assured.
- More than 24 months 100% of the basic sum assured.
- More than 12 months but less than 24 months.