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:

 

1. 25% of the Face Amount is paid at the End of One-Third (1/3rd) of the Term of the Policy.
2. Another 25% of the Face Amount is paid at the End of Two-Third (2/3rd) of the Term.
3. 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