Quick Savings Insurance Plan

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

Term of Policy

In today's world everyone now wants to reach the destination in a short time. No one wants to wait too long. Even if the profit is low, everyone is busy to get back the principal money as soon as possible. Insurance companies are not behind. Sonali Life's Quick Savings Insurance Plan is a 3 years unique short term life insurance coverage that helps a person accumulate savings for the near future. It is a non-participating endowment policy that provides ideal risk coverage providing financial protection to individuals interested in taking a short-term policy. This plan builds wealth as well as creates a financial safety net in one's life. Sonali Life's Quick Savings Insurance Plan guarantees payment of the sum assured in your account on the maturity date after just 3 years, which is more than the principal amount you have deposited. You can get this benefit by depositing premium amount in Sonali Life account on specified date of every month through Nagad, bkash, rocket apps just from your home. Then don't delay, join Sonali Life's Quick Savings Insurance Plan today. Terms and Conditions: 1) Age 18-65 years at commencement of insurance for all. 2) Maximum age at maturity is 68 years. 3) Sum Assured Tk. 1,25,00 or its multiple thereafter. 4) Premium method is monthly and only 2.5% of Sum Assured 5) The insurance period is only 3 years.

On Maturity Benefit

On Maturity: Full Sum Assured will be paid to the policyholder subject to regular premium payment till the term. Otherwise, liability shall be limited to refund of premium deposited at the end of the term. Example-1: A policy holder of Tk. 1,25,000 sum assured survives till maturity and has paid full term premium. Maturity benefit = Sum Assured = Tk.1,25,000, whereas total premium paid = (1,25,000*2.5%) *36 = Tk.1,12,500 and Profit gained= Tk.12,500. Example-2: A policy holder of Tk. 1,25,000 sum assured survives till maturity and after paying premium for 2 years he no longer takes up the policy. Maturity benefit = Deposited Premium = (1,25,000*2.5%) * 24 =Tk.75,000.

Death Benefit

On Death (by all causes): On death of policyholder during the term of the policy and the policy is in force till the death of policyholder, the accumulated premium up to the date of death along with proportionate value of Maturity Factor (MF) will be paid to the nominee. That is, if the policy is in force till the date of death of policyholder, Payable on Death = Premium accumulated till date of death + Proportionate Value of Maturity Factor (MF), where, MF = (sum assured - premium payable)*(months elapsed till time of death /36). And if the policy is lapsed at the time of death of policyholder, Payable on Death = Premium accumulated till date of death. Example 1: A policyholder with a sum assured of Tk. 1,25,000 died while the policy was in force after paying a monthly premium of Tk. 3,125 for 2 years. In this case the nominee is entitled as a death claim: (3,125*24=75,000) + ((1,25,000-1,12,500) * 24/36=8,333) = Tk.83,333. Example 2: A policyholder with a sum assured of Tk.1,25,000 did not run the policy after paying a monthly premium of Tk. 3,125 for 2 years. Unfortunately he died after 2 years and 6 months of taking the policy. In this case the nominee is entitled as a death claim: (3,125*24=75,000) = Tk.75,000.

Special Benefit

Not Applicable

Supplementary Cover

Not Applicable in this product.

Premium Rate Chart

Download the official rate chart PDF document.