Education Protection Plan Plus

A reliable plan designed for the protection of you and your family's future.

Term of Policy

All parents want their child to be able to read and write and get a suitable job or a business. But not everything is available if you want it, you need a suitable plan for it. What will happen to your child's future if you do not have the necessary savings for your child or do not live to the appropriate age? Therefore, Education Protection Plan Plus of Sonali Life can be taken jointly on the life of the child with the life of the father or mother so that there is no hindrance in meeting the cost of education of the children during the life or death of the parents. The main features of this plan are- 1. It is a joint life insurance. 2. The life of the child can be jointly insured with the life of the father or mother. 3. In case of death of one, the other receives insurance benefits. 4. Insurance term would be 10 to 15 years. 5. At the beginning of the policy, the age of the father will be 18-55 years and the age of the mother will be 18 to 52 years. 6. At the maturity of the policy, maximum age of father would be 65 years and the maximum age of the mother would be 62 years. Maximum age of child will be 25 years on maturity. 7. At the beginning of the policy the age of the child will be 3 months to 15 years. 8. Premium can be paid in monthly, quarterly, half yearly and annual installments. 9. Minimum monthly premium is Tk.1000, quarterly premium is Tk.2,550, half-yearly premium is Tk.4,600 and annual premium is Tk.9,000. 10. This insurance must have a supplementary insurance called DPR. 11. Income tax rebate is available on the premium paid.

On Maturity Benefit

Maturity: At maturity, if the policy is in-force, Face amount plus accrued reversionary bonuses will be paid. Otherwise paid up value will payable subject to gain it.

Death Benefit

A. On Death of Father/Mother (by all causes): From the date of commencement till the time of death of father/mother policy being in-force: 1) All future premiums will be waived. 2) Guaranteed Monthly Income equal to one percent (1%) of the Basic Policy Face Amount (sum assured) will be paid to the child till maturity. 3) At maturity, he/she would receive the face amount with bonuses. After the policy has been in operation for at least two years, if the premium deposit is stopped, the ‘Paid up value’ will be paid to the nominee on death of the premium payer. B. On Death of Child: From the date of commencement till the time of death of child the policy being in-force, % of sum assured will payable depending on the child's age as shown below: Age of child at his/her death Amount Payable Less than six (6) months 25% of sum assured 1 year nearest birthday 50% of sum assured 2 years nearest birthday 75% of sum assured 3 years nearest birthday & over Full sum assured

Special Benefit

If the life assured (father or mother) dies within the term of the policy no further premiums will be payable.

Supplementary Cover

Inbuilt Disability Protection Rider (DPR): On Disability due to accident or sickness of Father/Mother: 1) All future premiums will be waived. 2) Guaranteed Monthly one percent (1%) of the Basic Policy Face Amount (Sum Assured) will be paid to child till the maturity.

Premium Rate Chart

Download the official rate chart PDF document.