Bangabandhu Education Insurance is coming for poor students

Bangabandhu Education Insurance is coming for poor students

 Bank

Bangabandhu Education Insurance is coming for poor students

Mujib's year will end on March 17, 2021. In the meantime, IDRA wants to introduce a new insurance policy. Preparations are also in the final stages.

Insurance premium is 25 rupees per month. The size of the policy is 1 lakh rupees.

Students between the ages of 5 and 18 will be covered by the policy. If the parents die, the students will get 1 thousand rupees per month.

The government wants to introduce an insurance policy so that the education of young students is not ruined due to lack of money. It has been named 'Bangabandhu Shikshabima'. The premium of this insurance policy will be 25 rupees per month, 300 rupees per year. The sum insured has been fixed at Tk 1 lakh.

Bangladesh Bank prepared a draft policy in this regard three years ago and submitted it to the Financial Institutions Division of the Ministry of Finance. The Financial Institutions Department then allowed the Insurance Regulatory Authority (IDRA), the regulatory body for the insurance sector, to work on it. The IDRA has recently taken a fresh initiative to introduce the policy while Mujib is still in office. Mujib's year will end on March 17, 2021.

IDRA Chairman AKM Mosharraf Hossain told Prothom Alo, "Bangabandhu Education Insurance is being introduced in the interest of maintaining the continuity of education of young students." We hope it will be in Mujib's year. '

It has been said that in case of death of the insured i.e. parents or guardians, the students will be paid Rs. 1000 per month till the expiry of the insurance policy. The student's father or mother will be the insured.

According to a report prepared by IDRA, students in the age group of 5-18 years will come under the proposed insurance policy. The policy will be made on behalf of the students by their parents or guardians. They must be 25 to 65 years old. The premium money will be taken through the bank. The policy will be for 1 to 12 years. The policy will be considered expired when the student reaches the age of 18 and the insured reaches the age of 65.

It has been said that in case of death of the insured i.e. parents or guardians, the students will be paid Rs.1000 per month till the expiry of the insurance policy. The student's father or mother will be the insured. While the parents are alive, someone else can be the guardian subject to their approval. In the absence of parents, the insured can also be the breadwinner of the student. If the insured is permanently completely or partially disabled, he will be paid a lump sum of Rs. 1 lakh.

According to the draft, the bank will store the age of the insured, age of the student, class and other information. Insurance for payment of bank insurance claim on maturity

The Financial Institutions Department held a meeting with all concerned parties including Bangladesh Bank, Ministry of Education and IDRS last week. It has been proposed to bring some changes. Bangladesh Bank wants to link the issue of education insurance with school banking.

Will send the necessary information to the company. The insurance claim must be paid within 15 days of the completion of the process. IDRA is planning to introduce this insurance through 10 insurance companies, which may increase later.

It is learned that the Financial Institutions Department held a meeting with Bangladesh Bank, Ministry of Education, IDRS and all concerned parties in this regard last week. It has been proposed to bring some changes. Bangladesh Bank wants to link the issue of education insurance with school banking. According to the Bangladesh Bank, there are 24 lakh 31 thousand 602 school banking accounts till last June, and there is a deposit of Tk 1,063 crore.

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Welcoming the initiative, Bangladesh Insurance Association (BIA) President Sheikh Kabir Hossain told Prothom Alo that the policy will be introduced as a gift to the insurance sector in the year of Mujib. This will not ruin the education of the children of the poor at least.