Life Insurance Policy Illustration Sample
Life Insurance Policy Illustration Sample

Life Insurance Policy Illustration Sample
Name of Insurance Product – Three Payment Plan (3PP)
Offers both protection and an attractive scheme for your savings
Proposed Insured Name: YOUR NAME IS HERE
Basic Face Amount: BDT 10, 00,000
Insured Age (in Years): 22 Annual Basic Premium: Tk. 65,870
Policy Term (in Years): 18 Annual Total Premium: Tk. 65,870
The unique feature of the plan is that YOUR INSURANCE COMPANY pays you 50% of the Face Amount much before the maturity of the policy. It combines both Death and Living Benefits.
Life Insurance Policy Illustration Sample. The Living Benefits consist of three installment payments:
- 25% of the Face Amount is paid at the End of One-Third (1/3rd) of the Term of the Policy.
- Another 25% of the Face Amount is paid at the End of Two-Third (2/3rd) of the Term.
- The remaining 50% of the Face Amount is paid with Reversionary Bonus and Capital Growth Dividends (if applicable) at Maturity.
* The Death Benefit payment of the Full Face Amount along with Bonuses is paid in the event of the death at any time during the term of the policy.
* 1st and/or 2nd installment amount has no bearing on the Benefits receivable by the beneficiary (ies) in case of insured’s Death. Even if the Insured dies after the
2nd Installment has been paid, the beneficiary (ies) receives the FULL FACE AMOUNT plus accrued Bonuses.
* In the event of death, no deduction is made for the installments already paid.
* Additional accidental benefits through Personal Accident Coverage are available for you on payment of additional premium.
Insurance Coverage | In Taka |
1. Life Coverage | 10,00,000 |
1st Partial maturity | 2,50,000 |
2nd Partial maturity | 2,50,000 |
Policy Term | ||
End of Policy Year | Projected Benefit Amount (Payable upon unfortunate
Death due to any cause) (BDT Taka) |
Projected Cash Surrender Value (BDT Taka) |
1 | 10,75,000 | 0 |
2 | 11,50,000 | 45,000 |
3 | 12,25,000 | 1,45,410 |
4 | 13,00,000 | 2,22,654 |
5 | 13,75,000 | 3,04,110 |
6 | 14,50,000 | 3,92,008 |
7 | 15,25,000 | 2,20,608 |
8 | 16,00,000 | 3,04,206 |
9 | 16,75,000 | 3,93,138 |
10 | 17,50,000 | 4,89,790 |
11 | 18,25,000 | 5,92,608 |
12 | 19,00,000 | 7,04,108 |
13 | 19,75,000 | 5,55,900 |
14 | 20,50,000 | 6,66,676 |
15 | 21,25,000 | 7,87,347 |
16 | 22,00,000 | 9,18,917 |
17 | 22,75,000 | 10,61,630 |
18 | 23,50,000 | 18,50,000 |
Please note carefully that above-Projected Benefit Amounts are calculated using bonus rate of 7.5% on Basic Face Amount. However, bonus rate may vary which will affect Projected Benefit Amount shown in the above table. There will be no Cash Surrender Value during the first 2 years if you surrender the policy.
Notes:
- Above values are calculated considering that all due premiums are deposited on time and there is no indebtedness to the Company.
- Your INSURANCE Financial Associate will show you a product brochure of 3PP plus which will contain basic policy features, benefits and terms & conditions for your better understanding of the Plan.
- This is an illustrative proposal only – NOT A CONTRACT. Your Policy Document will contain the exact Terms & Conditions and Exclusions.
I have reviewed and understood this illustration.
Date of generating this illustration: DATE IS HERE
Financial Associate’s Name: YOUR INSURANCE AGENT NAME
Financial Associate’s Mobile No: INSURANCE AGENT’S PHONE NUMBER
Financial Associate’s Code: THE INSURANCE AGENT CODE NUMBER