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Child Protection Plan

Child Protection Plan

Guardian Child Protection Plan is an education plan for your starlet to keep his / her future education miles away from financial hardship. It is the best plan for you, your child and for your family that includes a splendid admixture of benefits that will secure every stage of child’s growth.

Eligibility

Entry Age:

  • Minimum 6 months or 180 days
  • At Maturity, maximum age can’t be more than 25 years

Exit Age:

  • Minimum 20 years to maximum 55 years
  • At Maturity, age of the policyholder can’t exceed 70 years

The policy applicant must have own, valid and regular income

Parameters
  • Tenor/Term: Minimum 10 years to maximum 25 years
  • Policy Amount: Minimum of BDT 1,00,000/-
  • Premium Mode: Yearly, Half-yearly, Quarterly and Monthly
Policy Benefits

At Maturity:

  • Upon maturity, the entire sum assured will be paid to the nominated legal guardian with the earned bonus.

At Death:

  • Policyholder:
    • If the parent/policyholder dies while the plan is in force and prior to maturity, then the insured child will receive the following benefits:
    • 15% of the sum assured will be paid to the designated legal guardian
    • 1% of the sum assured amount will be paid to the legal guardian every month [stipend] till the expiry of the plan
    • All future premiums will be waived
       
  • Child:
    • If the child dies while the plan is in force and prior the maturity of the plan, then the parent/policyholder of the insured child will have the following benefits:
    • Up to 6 months: 25% of the Sum Assured;
    • More than 6 months but less than 12 months: 50% of the Sum Assured;
    • More than 12 months but less than 24 months: 75% of the Sum Assured;
    • More than 24 months: 100% of the Sum Assured

Loan Facility:

  • Up to 90% of the net cash surrender/surrender value can be taken as insurance-loan.

Income Tax Rebate:

  • The insured customer will get an income tax rebate on the premium paid as per the income tax policy of the government.

Insurance claim money is completely tax free.

 

Applicable Riders

Health Insurance

  • Hospitalization benefits up to BDT 5,00,000/- [Five Lac] for self and every family member [Spouse and Child] individually.

Critical Illness Insurance

  • 18 Critical Illness Coverage for self, up to BDT 10,00,000/- [Ten Lac].
Mandatory Documents
  • Copy of the NID of the applicant
  • 1 color passport-size photo of the applicant
  • Copy NID of the proposed nominee
  • 1 color passport-size photo of the proposed nominee
  • Proof of income of the applicant, depending on the sum assured (will be required if sum assured crosses 25 Lacs)
  • Copy of the NID of the legal guardian where the proposed nominee is minor
  • 1 color passport-size photo of the legal guardian where the proposed nominee is minor
City Bank customers can purchase life insurance policies of our insurance partners from City Bank branches & Citygem centers .