The Advantages of Postal Life Insurance

 

The Advantages of Postal Life Insurance

Postal Life Insurance:

Simultaneously insurance and savings name 'postal life'

Not many people knew about the Post Office Savings Scheme for so long. Under this program, a small number of people were keeping deposits as general accounts and term. Interest rates were good. 7.5 percent in one and 11.2 percent in the other. That it is not a savings certificate, but a savings deposit, is still confused by many in society.

But 15 days ago, the government suddenly reduced the interest rate by half. This was criticized almost everywhere starting from the National Assembly. However, Finance Minister AHM Mustafa Kamal has announced to take the interest rate to the previous level in this gap. All in all, at least the people outside the program knew about the program this time. It can be said that the program became a good advertisement.

As not many people know, another government initiative needs to be advertised, this is what the concerned people of Bangladesh Postal Department are expecting. It is called 'Postal Life Insurance' - a simultaneous insurance policy and savings scheme of Bangladesh Postal Department. It was launched as a public welfare insurance scheme under the Ministry of Finance. However, it is controlled, managed and marketed by the postal department.

This policy has been in force in Bangladesh for 138 years. Although the policy was introduced in 184 to provide financial security to the runners of the postal department, it was opened to the general public in 1953. The Postal Department conducts postal life insurance activities in two regions namely Eastern Region (Dhaka) and Western Region (Rangpur).

How many types of insurance:

There are six types of postal life insurance policies. Life insurance, term insurance, education insurance, marriage insurance, joint insurance and defense insurance. Up to 60 per cent of the total deposit can be borrowed two years after the commencement of the policy. Premium can be deposited at any post office. At the end of the period, money can be withdrawn from any post office. Premiums can even be paid by deducting from the salaries of employees. Customers also get some benefits if they pay premium in advance. If the insurance policy is canceled for any reason, there is also an opportunity to revive it.

More customer benefits:

Government, semi-government, autonomous, private, military i.e. any citizen of the country can go to any post office and come under the postal life insurance policy. There is no upper limit of the policy, i.e. any amount of policy can be made. The government keeps all the funds in its custody. In the case of life insurance, the bonus at the end of the term is Rs 4,200 per lakh. In the case of term insurance, a bonus of Rs 3,300 per lakh per year is available. There is a bonus tax discount.

Convenient installment:

Postal Life Insurance installments can be submitted on monthly, quarterly, half-yearly and yearly basis. As can be given in cash, there is an opportunity to pay from the monthly salary. The installment rate varies depending on the age of the insured and the term of the policy. For example, in the case of life insurance, customers between the ages of 19 and 55 can take out an insurance policy. The insurance will be completed in 50, 55, 60 and 70 years. The nominee or heir will receive money after the death of the customer or insurer at the end of the term.

A 19 year old customer can also make a policy for 50 years. The policy will be completed in 5, 10, 15, 20, 25, 30, 35 and 40 years. In that case you have to pay premium at the rate of only 2 rupees 10 paise per thousand per month.

Maximum state security:

Postal life insurance customers are given the highest state guarantee. The document agreement is signed by the President. And the main attraction of this insurance is low premium and high rate bonus. The purpose of all organizations is to make a profit by selling policies, in which case the government does not. All the profits are given to the policy customers as a bonus. Postal life insurance premiums are also low. However, the amount depends on the age of the insured and the term of the policy.

Information at home:

Postal life insurance services are currently being operated digitally. After filling the offer form and paying the first installment at any post office in the country, a short message (SMS) is sent to the customer's mobile phone number. The insurer can know the amount of money deposited at home. And all the information can be known by clicking on the specific place with the number and date of birth of the insurance policy. If there is any complaint, the postal department has also made arrangements to reply to the return e-mail message. According to the Department of Posts, there are about 1.5 lakh postal life insurance policy customers.

Do you have to interest about that- insurance agent