You are on page 1of 37

http://www.pragatilife.com/index.

html

Pragati Life Insurance Ltd. Pragati Rhone-Poulence Center, 20-21, Kawran Bazar (6th Floor) Dhaka-1215. Phone # 8189184-7 Fax: 880-02-9124024 Email: info@pragatilife.com URL: www.pragatilife.com

A dynamic Life Insurance Company that has set its motto to serve the clients with utmost trust

ti Life Insurance Limited is a public limited company registered with the Registrar of Joint Stock Company and licens Controller of Insurance, Govt. of Bangladesh to transact life insurance business in Bangladesh. The Board of Director ti Life is comprised of a group of dedicated and renowned business entrepreneurs of the country and have already p ommitment and services in General Insurance through Pragati Insurance Limited. Now, they are committed to do the with Life Insurance through Pragati Life Insurance Limited. Here you will get professional and expert services with fu mitment. You will also be pleased to know that we have Managing Director who is an actuary. With all these resourc we are able to provide you efficient service and tailor-made product to meet your needs. Our attention is always focu dividual client and his special needs. Furthermore, we are continuously developing IT aids and expert systems to car e insurance business efficiently. We are available to deal with all your questions concerning these new products. And ntered into a new millennium, we will keep you informed about new trends and developments in the life insurance in worldwide.

Designed & Hosted by Webmaster of Pragati Life Insurance Ltd. 2005-2006, Pragati Life Insurance Ltd. All rights reserved.

Designed & Hosted by

Webmaster of Pragati Life Insurance Ltd. 2

Our Management
The Management of the Company is headed by an actuary and also a host of expert insurance personalities having long career in insurance both at home and abroad working with him. With all these resources in hand we are able to provide you efficient service and tailor made product to meet you needs. Our attention is always focused on the individual client and his special needs. Managing Director Mr. Zafar Halim

Additional Managing Director

Mr. Habibur Rahaman Sikdar

Deputy Managing Director

Mr. Swapan Kumar Sarkar, FCA Mr. Quamrul Hasan Mr. Md. Mozammel Hossain Mr. M. M. Monirul Alam Tapan Mr. A.K.M. Mozammel Hossain Belal Mr. Sujit Kumar Dey Mr. K.A.S.M. Azam Ullah Tipu Mr. Zahur Ahmed Chowdhury Mr. Rafiqul Alam Bhuiyan Mr. K.M. Tanvir Ashraf Mr. Choudhury Abdul Majid

Company Secretary

Assistant Managing Director Senior General Manager

General Manager

Assistant General Manager

Senior Principal Officer

Principal Officer Mr. Sajedul Haque Senior Manager Mr. Md. Abdullah Chowdhury

Mr. Majedur Rashid Chowdhu Mr. Abul Hashem Mr. Syed Rezaul Karim Belal Mir Md. Shafiul Alam Kamol Mr. Arkam Rakib Chowdhury Mr. Liaquat Ali

Manager

Send mail to prglife@aitlbd.net with questions or comments about this website. Electronic mail General Information: prglife@aitlbd.net Phone:880-02-(9571522-4) Webmaster: prglife@aitlbd.net Pragati Life Insurance Limited copyright 2005

Plan 01 - JIBON SATHI (with Bonus) Plan 02 - JIBON PROTTASHA (with Bonus) Plan 03 - JIBON TORI (with Profit) Plan 04 - JIBON SOMAHAR ( with Profit) Plan 05 - JIBON ALO (with Bonus) Plan 06 - JIBON BONDHU (with Bonus) Plan 07 - JIBON ABOKASH (Pension) Plan 08 - JIBON BIKASH (Child Education) Plan 09 CORPORATE PLAN Plan 10 JIBON UTTORON (Joint Life) Plan 11 - JIBON PARASH (Health Insurance)

Plan 12 JIBON SHONCHOI (Single Premium)


Plan 13 - Jibon Purnota (Hajj Bima) Islami Insurance Plan 14 - Jibon Bondhon Islami Insurance

Plan 1 - JIBON SATHI (with Bonus) Policy Term 11- 14 years. After expiry of 5 years of the policy term, the policyholder will receive10 % of sum assurance every year before maturity. At maturity, the rest of the sum assurance will be paid with accrued bonus. Example: If you buy a 12-Year term policy with Tk. 1,00,000 Sum Assurance, you will receive Tk. 10,000 at the end of the 5th, 6th,7th, 8th, 9th and 10th year, in total of Tk. 60,000. The rest of the sum assurance, Tk. 40,000 (with bonus) will be payable after the 12th year at maturity. In unfortunate death of policyholder during the term, the nominee will receive full sum assurance with accrued bonus even 0 though the policyholder receives any payment earlier.

Plan 2 - JIBON PROTTASHA (with Bonus) Policy Term 12, 15, 18, 21, 27, 30 years. Special Features: 10 % guaranteed profit on the deposited premiums at the end of 1/3 (one-third) of the term. Another 10 % guaranteed profit on the deposited premiums at the end of 2/3 (two-third) of the term. At maturity the full face amount will be paid with bonus. In case of death during the policy term, full face amount with accrued bonus will be payable to the beneficiary even if guaranteed profit is paid earlier.

Plan 3 - JIBON TORI (with Profit) Policy Term 12- 25 years. Single Premium Policy. On unfortunate death of the policyholder, the beneficiary will receive the full face amount. If survive to the end of the term, policyholder will receive Double of the Premium under Plan A Two and half times of the premium under Plan B Three times of the premium under Plan Advantage in Single Premium policy is that there is no hassle for

renewal payment. Policyholder also receives huge tax relief on the Premium.

Plan 4 - JIBON SOMAHAR ( with Profit) Policy Term 12- 21 years. To provide maximum security to your family with your limited income, you need to take advantage of this plan to receive 5 types of benefits all under one plan. Premium as low as 5 taka per day ! If the policy is in force for the full term the following benefits are guaranteed: 1) Death Cover : On natural death, Face Amount will be payable to the nominee. 2) Accidental Death: On accidental death, nominee will receive double of the face Amount. 3) Disability Cover due to accident: Waiver of all future Premiums (Except Single Premium ) and 10 % of face amount payable per year in monthly installments for 10 years. 4) On Maturity: If any of the above events (death or disability) doesn't happen, total premiums will be returned to the policyholder with profit. Percentage of Profit will be equal to the policy term. For example, for 15 and 16 years policy the profit will be 15 % and 16 % respectively on the total premiums. 5) Free Insurance Cover: On survival of the term, Free insurance cover will be available for period of 5 years for the reduced amount. So in reality Life will be covered for (Policy Term + 5 yrs). This plan has option of paying Single Premium

Plan 5 - JIBON ALO (with Bonus) Policy Term 12, 15, 18, 21 years. 01. 25% of the initial Face amount will be payable after expiry of the 1/3 of the term. Life risk will be increased to 1.5 times of the initial SA at the same time. 02. 25% of the initial Face amount will be payable after expiry of the 2/3 of the term. Life risk will be increased to 2 times of the initial SA (double) at the same time. 03. At maturity, the rest of 50% of the initial Face amount will be payable with accrued bonus. 04. Beneficiary will receive 1.5 times or 2 times of the initial Face amount if policyholder dies after 1/3 or 2/3 of the policy respectively

even if policyholder receives 25% or 50% of the Face amount earlier.

Plan 6 - JIBON BONDHU (with Bonus) Policy Term 10- 25 years. This endowment plan provides payment of full-face amount with bonus at maturity if the amount assured is not paid to the beneficiary earlier as a result of death of the policyholder. The unique feature of this policy is that the policyholders will have the opportunity to change the plan into almost anything of their liking in the future. After 5 years of the policy term policyholder will have the following options to modify his/her policy. The options are : Option 1: Increase / Decrease the Policy Term. Premium rate will change accordingly and the modified rate will be less than the age basis premium rate given in the Rate chart. Option 2: Increase / Decrease the Sum Assurance. Premium rate will change accordingly and the modified rate will be less than the age basis premium rate given in the Rate chart. Policyholder can exercise both the above options at the same time. Option 3: Stop paying premiums. Get the coverage on life for higher sum assurance without any maturity value for the remaining term. This option is subject to certain rules and conditions. Option 4: Stop paying premiums. Get the coverage on life for an extended term without any maturity value. This option is subject to certain rules and conditions. Option 5: Stop paying premiums. Get the coverage on life for the same amount of sum assurance for the remaining term and receive all paid premiums with profit at maturity. Option 6: Completely change the policy and opt for a different kind of plan. Premium rate will be changed accordingly. This option is subject to certain rules and conditions.

Plan 7 - JIBON ABOKASH (Pension) Policy Term 6 - 29 years. In modern times financial planning is very essential if you like to have a steady monthly income when you retire from your work. Annuities have an advantage over other investments in that the annuitant can never outlive the monthly income. During your retirement you never need to worry how you will meet your monthly expenses as long as you live. Once started, Pension will continue throughout the lifetime of the pensioner with guaranteed period of 10 years. If policyholder dies before pension starts, all the premiums will be refunded to the beneficiary.

For a small additional premium extra Life Risk Coverage on the policyholder could be included in the policy. Sum assurance will be payable if policyholder dies before age 60 and before the pension starts.

Plan 8 - JIBON BIKASH (Child Education) Policy Term 3- 14 years. Educational expenses are increasing every year so if you don't invest or allocate your money properly today you might not have enough money in the future to meet your child's educational expenses. The earlier you start the cheaper your premium will be. Monthly Stipend will start when the child is at class X, 1(one) year before S.S.C examination. Stipend will continue subject to the condition that he/she is a regular student and classes/examinations are regularly held. Total of 108 monthly stipends will be payable. Stipends & Lump Sum Amount (per Unit)
Level of Education Class X - S.S.C - H.S.C 4-year Bachelor's Degree 2-year Master's Degree Annual Stipend* Tk. Tk. Tk. 1,200 2,400 3,600 Duration of Payment 36 months (3 years) 48 months (4 years) 24 months (2 years) Total Stipend Tk. 3,600 Tk. 9,600 Tk. 7,200

After Graduation a Lump Sum amount equals to All paid premiums will be payable for Higher studies/Marriage/Business or anything. * If anybody likes to modify monthly stipend amount please contact with us. If policyholder dies before the stipend payment begins, all the future premiums will be waived (not applicable for Single Premium policy) and an annual allowance of Tk. 1200 per month (per Unit) will be payable to the child under the condition that the child remains the regular student. After S.S.C the stipend payment will start accordingly. For a small additional premium, extra Life Risk Coverage on the policyholder could be included in the policy. Sum assurance will be payable if policyholder dies before age 60 and before stipend payment starts. This plan has option of paying Single Premium. Gift to a Child:

Single premium policy is the perfect gift idea for a newborn baby or for your child on the occasion of Birthday. What could be better gift than a plan which will assure bright future of your child! Anybody can buy this plan for any child but the name of the proposer of this policy has to be the parent or the childs local guardian.

Plan 9 CORPORATE PLAN (Single Premium) Policy Term 3, 5, 10 years. 01. When policyholder dies of natural cause before age 60, the family receive payment 02. If death occurs due to accident, the family receive payment 03. Policyholder receives lump sum amount if the accidental injuries causes permanent partial disability and the following losses : 04. If the accident results in non-recoverable permanent total disability for a period of 1 (one) year and makes the insured unable to perform any job that he/she is qualified for by training, experience or education, the policyholder receives cash payment. 05. If policyholder is admitted to hospital as an in-patient due to accidental injuries, he/she will receive daily benefit for each day of confinement up to 365 days. 06. No Claim Bonus: Portion of the premium will be refunded at the end of the term as no claim bonus if no claim is submitted.

Plan 10 JIBON UTTORON (Joint Life) Policy Term 10 - 25 years. 1. On Death of the Policyholder : a) 10 % of Sum Assurance (SA) is paid to the nominee. b) 1 % of Sum Assurance per month to the child (if the child is alive) until the policy term expires. c) Waiver of all future premiums d) Payment of the SA at the end of the term. 2. On death of the Child : a) If child were less than 6 months, 25% of SA payable. b) If child were between 6 months and 1 year, 50% of SA payable. c) If child were between 1 year and 2 years, 75% of SA payable.

d) If child were more than 2 years, 100% of SA payable. 3. On survival of both the parent and the child up to maturity: Full Sum Assurance with bonus payable.

Plan 11 - JIBON POROSH (Hospitalization Insurance) All kinds of hospital related expenses e.g. Room rent, Consultation fees, Routine Investigation, Medicines, Surgery and Ancillary services will be covered under this plan.

Plan 12 JIBON SHONCHOI (Single Premium) Policy Term 2- 5, 6, 9 years.


Sum Assurance Single Premium Policy Term (payable on death) 150 % of Single Premium 150 % of Single Premium 175 % of Single Premium 175 % of Single Premium 200 % of Single Premium 200 % of Single Premium Maturity Value (payable at maturity if survives) 110 % of Single Premium 120 % of Single Premium 130 % of Single Premium 140 % of Single Premium 150 % of Single Premium 200 % of Single Premium

2 Years 3 Years Premium amount will be decided by the Policyholder. 4 Years 5 Years 6 Years 9 Years

Send mail to prglife@aitlbd.net with questions or comments about this website. Electronic mail General Information: prglife@aitlbd.net Phone:880-02-(9571522-4) Webmaster: prglife@aitlbd.net Pragati Life Insurance copyright 2005

Send mail to prglife@aitlbd.net with questions or comments about this website. Electronic mail General Information: prglife@aitlbd.net Phone:880-02-(9571522-4) Webmaster: prglife@aitlbd.net Pragati Life Insurance copyright 2005-2006

Legal statement
Unless otherwise indicated, this web site and its contents are the property of Pragati Life Insurance Limited, and /or its affiliates, licensors or assigns (collectivity Pragati Life Insurance Limited) and protected, without limitation, pursuant to Bangladesh and foreign copyright and trademark laws. By accessing this web site, you agree to the following terms and condition. If you do not agree, you have no right or license to access this Web Site and you should not to do so. As used herein, the phrase this Web Site refers to pragatilife.com

Personal, Non-Commercial Use


You are authorized to download on copy of the material on this Web Site on one computer for your personal, noncommercial use only. In doing so, you may not remove or in any way alter any trademark, copyright, or other proprietary notice. You may not modify, copy distribute, republish, commercially exploit, or upload any of the material on this Web Site without the prior written consent of Pragati Life Insurance Ltd., except as expressly allowed in this Web Site from time to time in a send a mail or similar feature with respect to any particular material on this Web Site (but in no event may you commercially exploit any such material without the prior written consent of Pragati Life Insurance Ltd.) No intellectual property or other rights in and to this Web Site, other than the limited right to use set forth above, are transferred to you.

Disclaimer
Pragati Life Insurance Ltd. MAKES NO REPRESENTATIONS OR WARRANTIES WITH RESPECT TO THIS WEB SITE OR ITS CONTENTS, WHICH ARE PROVIDED FOR USE "AS IS." Pragati Life Insurance Ltd. DISCLAIMS ALL WARRANTIES, EXPRESS OR IMPLIED, INCLUDING WITHOUT LIMITATION. THE IMPLIED WARRANTIES OF TITLE, NONINFRINGEMENT, MERCHANTABILITY AND FITNESS FOR A PARTICULAR PURPOSE, WITH RESPECT TO THIS WEB SITE AND ANY WEB SITE WITH WHICH IT IS LINKED. Pragati Life Insurance Ltd. ALSO MAKES NO REPRESNTATIONS OR WARRANTIES AS TO WHETHER THE INFORMATION ACCESSIBLE VIA THIS WEB SITE, OR ANY WEB SITE WITH WHICH IT IS LINKED, IS ACCURATE, COMPLETE, OR CURRENT. Price information and promotions are subject to change without notice.

No Liability
To the fullest extent permitted by applicable law, Pragati

Life Insurance Ltd. and its directors, officers, employees, agents, representatives, suppliers, and contractors (all of the foregoing, collectively, the "Representatives") shall in no event be liable for any claims, charges, demands, damages, liabilities, losses and expenses of Whatever nature and howsoever arising, including without limitation and compensatory, incidental, direct, indirect, special, punitive, or consequential damages, loss of use, loss of data, loss caused by a computer or electronic virus, loss of income or profit, loss of damage of property, claims of third parties, or other losses of any kind or character, even if Pragati Life Insurance Ltd. has been advised of the possibility of such damages or losses, arising out of or in connection with the use of this Web Site or any Web Site which it is linked. You assume total responsibility for establishing such procedures for data back up and virus checking as you consider necessary.

Export Control Laws


The U.S export control laws regulated the export and reexport of technology originating in the United States. This includes the electronic transmission and software to foreign countries and to certain foreign nationals. You agree to abide by these laws and their regulations, including but not limited to the Export Administration Act. and the Arms Export Control Act., and not to transfer, by electronic transmission or otherwise, any material from this Web Site to either a foreign national or a foreign destination in violation of such laws.

Miscellaneous
These terms and conditions, together with any other terms and conditions or policies set forth elsewhere in this Web Site, set forth the entire understanding between you and Pragati Life Insurance Ltd. regarding this Web Site. Pragati Life Insurance ltd. reserves the right to make changes in its sole discretion at any time to this Web Site, to these terms and conditions, and to any other terms and conditions or policies set forth elsewhere in the Web Site.

Trademarks
The logos, designs and product and company names appearing in this Web Site may be trademarks and/ or service marks of their respective owners.
Send mail to prglife@aitlbd.net with questions or comments about this website. Electronic mail General Information: prglife@aitlbd.net Phone:880-02-(9571522-4) Webmaster: prglife@aitlbd.net Pragati Life Insurance copyright 2005-2006

You hereby agree to indemnify and hold harmless Pragati Life Insurance Ltd. and the Representatives from and against any and all claims, charges, demands, damages, liabilities, losses, and expenses of whatever nature and howsoever arising (including but not limited to any legal or other professional fees and the costs of defending or prosecuting any claim and any loss of profit, goodwill, and any other direct or consequential loss) incurred or suffered by Pragati Life Insurance Ltd. and the Representative, directly or indirectly, by reason of any act or omission which you commit in breach of these terms and conditions (including but not limited to your obligations contained herein) and any other terms and conditions or policies set forth elsewhere in this Web Site.

Disclosure of Communications
You are cautioned that any online communications may not be fully confidential. In addition, you should be aware that federal postal regulations do not protect electronic mail. You should be aware that some administrative personnel of Pragati Life Insurance Ltd. may, in the course of their regular duties, have access to communications for technical or operational purpose. Pragati Life Insurance Ltd. may also disclose any communications to the extent permitted or required by law. The Pragati Life Insurance Ltd. Online Privacy Policy sets forth Pragati Life Insurance Ltd. privacy policy for this web site.

Send mail to prglife@aitlbd.net with questions or comments about this website. Electronic mail General Information: prglife@aitlbd.net Phone:880-02-(9571522-4) Webmaster: prglife@aitlbd.net Pragati Life Insurance copyright 2005-2006

Introduction
Group insurance is a cost effective way of providing protection against the financial loses caused by death, disability or retirement to a group of individuals who are associated with the policyholder by some common relationship other than insurance. Pragati Life offers group insurance schemes to various groups such as Employer-Employee, Professionals, Cooperatives, and NGOs etc. The main feature of the schemes are low premium, simple insurable conditions such as employee not being absent from duty on grounds of ill health on the day of entry, and easy administration by way of issue of a single master policy covering all the employees/members. Group insurance is usually a service benefit provided by the employer to its employees.

How the Employer Benefits


Most employers provide group life/hospitalization insurance as a service benefit. By providing employees with a plan of group life/ hospitalization insurance coverage, an employer derives the following benefits: It contributes to employee morale and productivity. It helps to recruit and retain employees. Employer can obtain a Tax deduction for the cost of contributing to the plan. Employers public and employee relations image is enhanced.

How the Employee Benefits


Individuals and families have a great need for life and health insurance plans. Unfortunately, many people are unable to purchase individual coverage because of preexisting medical conditions and/or the high cost of purchasing insurance. Therefore, many people rely on employer-sponsored plans as their sole source of life and

health insurance. An employer-sponsored plan provides the following benefits for employees: Virtually all members of a given group may be insured, regardless of their prior health history. If the plan is contributory, the employee usually pays a lower rate per unit of benefits than is available with individual coverage. If the plan is noncontributory, the employer pays for coverage that employees would otherwise have to pay for with personal money.

Send mail to prglife@aitlbd.net with questions or comments about this website. Electronic mail General Information: prglife@aitlbd.net Phone:880-02-(9571522-4) Webmaster: prglife@aitlbd.net Pragati Life Insurance copyright 2005-2006

Our Philosophy is best described as maintaining competitiveness balanced with prudent with prudent management and fairness to all our policyholders. We believe in adhering to basic principles of insurance and sound financial management while balancing the scales between safety of principle and competitive rate of return to our policyholders.

Clients 01 - Gov't Organization Clients 02 - Financial Institutions Clients 03 - Educational Institutions Clients 04 - Multinational Companies Clients 05 - Pharmaceutical Industries Clients 06 - Other Organizations

Gov't Organization
1. Bangladesh Sugar & Food Industries Corporation including its 17 Sugar Mills 2. Bangladesh Steel & Engineering Corporation 3. Gazi Wires Limited

Financial Institutions
1. IFIC Bank Limited 2. AB Bank Ltd. 3. The Oriental Bank Ltd. 4. United Commercial Bank Limited 5. The City Bank Limited 6. BRAC Bank Ltd. 7. IDLC of Bangladesh Ltd.

Educational Institutions
1. Dhaka University 2. Chittagong University 3. National University 4. Independent University, Bangladesh 5. Mohammadpur Preparatory Girls' High School & College 6. Bhulua Degree College 7. Eliotgonj Ra. Bi. High School

Multinational Companies
1. Bangladesh Edible Oil Limited 2. Lafarge Surma Cement Limited 3. The Louis Berger Group, Inc., (ATDP-II) -a USAID Project 4. Gulf Air, Dhaka Station 5. Lankabangla Finance Ltd. 6. Group 4 Securitas Bangladesh (P) Limited

7. Gulf Oil Bangladesh Limited

Pharmaceutical Industries
1. Organon (Bangladesh) Limited 2. Roche Bangladesh Limited 3. The ACME Laboratories Limited 4. Navana Pharmaceuticals Limited

Other Organizations

1. The Federation of Bangladesh Chambers of Commerce & Industry 2. Square Textiles Division (4 units) 3. Wings Air Cargo Limited 4. Expolanka Bangladesh Limited 5. Aftab Automobiles Limited 6. Essential Products Limited 7. Hosaf Meter Industry Limited 8. Islam Brothers Properties Limited 9. Dulamia Cotton Spinning Mills Limited 10. Kay & Que (Bangladesh) Limited 11. Bentrans (Pvt.) Limited 12. McDonald Bangladesh Limited 13. Multimode Group of Companies 14. KDS Group 15. Prostar Group 16. Tropica Garments 17. M. F. Consumers Limited etc. 18. Alap Telecommunication Limited 19. Eurasia Food Processing (BD) Limited 20. Jamuna Group of Industries

We are dedicated to provide innovative products, specially designed to meet your objectives while furnishing you with safety, liquidity and a competitive rate of return currently and in the future. Pragati Life and is representatives are not only committed to providing you with quality products, we are here to serve you even after the sale. We are never far away than your telephone.

Plan 01 - Group Term Life (GT) Plan 02 - Group Term Life Insurance with Refund of Premium Plan 03 - Group Endowment Insurance Plan 04 - Group Pension Insurance Scheme Plan 05 - Group Insured Provident Fund (GIPF)

Plan 1 - Group Term Life (GT): a. Scope: The Scheme shall cover the risk of death while in service of an employee occurring any where in the world and by any reason for an amount (sum assured) as per list to be submitted by employer. b. Duration: The scheme for which premiums are payable yearly shall be for a period of 3 (three) years initially and thereafter may be extended for further period(s) on mutual agreement. c. Profit Sharing Rebate: At the end of three years period if there arises a profit under the scheme i.e., if the resultant is positive after deducting management expense and all claims from the total premium then a part of the resultant (depending on the number of employees) is allowed as rebate and credited against the renewal premium of the scheme. Profit sharing rebate is allowed for organizations having more than 200 insurable employees.

Plan 2 - Group Term Life Insurance with Refund of Premium: a. Scope: Provides for the stated sum assured at death by any reason of a member while in service. In case of survival of an insured employee to retirement age, 100% or 50% of all premiums paid on his account shall be refunded with or without profit as per choice of the employer. b. Duration: Initially the contract will be concluded for 10 years after which it may be continued for further period(s) on terms and conditions as may be mutually agreed. This scheme could be taken for a fixed term of 10, 15 or 20 years. c. Surrender Value: The policy accrues surrender value only after payment of at least two annual premiums.

Plan 3 - Group Endowment Insurance: a. Scope: Provides for payment of full sum assured at death by any reason of a member while in service. In case of survival of an insured employee to retirement age, 100%, 50% or 25% of respective sum assured shall be paid with or without profit as per choice of the employer. b. Surrender and Paid up value: The scheme acquires paid up and surrender values after at least two annual premiums have been paid.

Plan 4 - Group Pension Insurance Scheme: a. Scope: Provides for payment of full sum assured (prefix) at death by any reason of a member while in service. In case of survival of an insured employee to retirement age, regular monthly pension payable quarterly till death. Pension once started shall be payable for at lest ten years even if the pensioner dies and in that case pension shall be payable to the nominee or legal heirs of the policy holder. b. Surrender and Paid up value: The scheme acquires paid up and surrender values after at least two annual premiums have been paid.

Plan 5 - Group Insured Provident Fund (GIPF) Benefits of the Scheme: a. Death Benefit: In case of death of an insured employee while in service occurring any where in the world and by any reason, an amount equivalent to 36 (thirty-six) times of his last basic salary along with his accumulated balance under the Provident Fund (PF) shall be payable. b. Eligibility: All the employees who are below 60 years of age will be eligible for the fund, subject to the confirmation of employment. c. Rate of Contribution: Both the employee and the employer will contribute 10% of basic salary each month, in total 20% of basic salary into the fund. d. Rate of Interest (ROI) Earned on the Fund: The effective rate of interest on the fund will be at least 1% above the bank rate. But actual ROI earned on the fund could easily be much higher than the above. Company will declare the actual interest earned on the fund every year.

e. Survival Benefit: An employee will be entitled to have his and employers contribution with earned interest on reaching 60 years of age. f. Taking Loan from the Fund: An employee can take loan from the fund up to 80% of his own contribution. Rate of interest on the loan amount be 12% per annum and loan has to be repaid in maximum of 24 months. g. Resignation/Termination of Employee or Termination of Contract: If any employee leaves the services of the employer due to termination/resignation, then the company will refund to the employer the accumulated value of the concerned employee after deducting following expenses (administrative, risk premium, reinsurance premium etc.): Duration of Membership At the end 1st year At the end 2nd year At the end 3rd year At the end 4th year At the end 5th year At the end 6th year and afterwards Percentage of Deduction 20% 16% 12% 8% 4% 2%

If the employer terminates the contract by giving written notice in advance (at least six months before the policy anniversary date) the final balance of the fund shall be refunded on the aforesaid way.
Send mail to prglife@aitlbd.net with questions or comments about this website. Electronic mail General Information: prglife@aitlbd.net Phone:880-02-(9571522-4) Webmaster: prglife@aitlbd.net Pragati Life Insurance copyright 2005-2006

Claim Procedure is very simple under a group insurance scheme. Usually we need following documents at the time of processing a claim: A formal request letter from the organisation in respect of the (death/disability) claim. A certificate from the organisation to the effect that the insured member was in service till his death/disability. An attested copy of age proof certificate issued by a competent authority (Usually S.S.C, in absence service record).

A death certificate issued by the last attending physician usually from a registered doctor, Hospital or Clinic. In case of accidental or unnatural death/disability, an attested copy of the First Intimation Report (FIR) along with an attested copy of the post-mortem is waived then the documentary evidence of such waived then the documentary evidence of such waiver by a lawful authority must be submitted. All claims are settled by an account payee cheque in the name of the employer unless otherwise mentioned in the group insurance contract.

Send mail to prglife@aitlbd.net with questions or comments about this website. Electronic mail General Information: prglife@aitlbd.net Phone:880-02-(9571522-4) Webmaster: prglife@aitlbd.net Pragati Life Insurance copyright 2005-2006

Exclusion of Hospitalization Plan


01. Any congenital infirmity 02. Any pre-existing condition 03. Any food or food supplements, antiseptics, cosmetic cream etc. 04. Any pre-hospitalization expenses. 05. Mental, emotional or psychiatric disorders, alcoholism or any other narcotic addiction 06. Any procedure which is experimental or not generally accepted by the medical profession i.e. acupuncture 07. Any cosmetic or plastic treatment/surgery unless required as re-constructive surgery as a consequence of injury due accidents/burns. 08. Rest, convalescence or rejuvenation cures, thermal baths or confinement for the purposes of slimming or beautification 09. Treatment for family planning purposes including termination of pregnancy, dilatation & curettage or sterility

10. Abortion, miscarriage, ectopic pregnancy, foetal death or any complication and/or sequel there from 11. Attempted suicide, violation or attempted violation of the law, injuries willfully or intentionally self-inflected or due to insanity or under the influence of a drug 12. The examinations, fitting or replacement of eyeglasses including contact lenses or hearing aids 13. Health cheek-ups, radiotherapy, chemotherapy, any from of investigation/treatment when not incidental or necessary to the treatment of the injury/illness which caused hospitalization 14. Circumcision 15. AIDS and HIV related diseases 16. Any dental treatment 17. First Tk. 500 of each claim.

Send mail to prglife@aitlbd.net with questions or comments about this website. Electronic mail General Information: prglife@aitlbd.net Phone:880-02-(9571522-4) Webmaster: prglife@aitlbd.net Pragati Life Insurance copyright 2005-2006

Financial Highlights
Amount in thousand (BDT) Year 2007 2006 2005 2004 2003 First Year 201,008 261,253 158,221 86,590 77,621 Premium Renewal 268,891 222,521 135,145 100,305 66,315 Premium Group Insurance 61,050 44,350 32,969 32,229 32,783 Premium Health Insurance 37,411 30,702 22,202 16,556 10,629 Premium Gross 568,359 558,827 348,537 235,680 187,348 Premium % Increase over the 1.71 60.33 47.89 25.8 46.87 previous

year Overall conservation 55.58 ratio (%) Investment 113,534 Income Investment Yield (Income 18.65 realised to mean Life Fund) Claim 101,967 75.85 36,207 72.31 24,130 69.69 8,117 70.39 4,365

9.16

10.90

5.57

6.01

74,380

77,116

45,414

31,992

Management Expenses317,674 269,382 179,957 119,928 99,896 Actual Assets (Excluding 956,969 746,296 458,053 256,516 178,924 IPO deposit money) % Increases over the 28.18 63.11 78.56 43.37 65.78 previous year Life Fund % Increases over the previous year Ratio of --Expenses of Management to Premium Income(%) Claim to Premium(%) Designed & Hosted by 794,664 536,141 290,392 176,505 101,819 48.22 84.63 64.52 73.35 112.58

55.89 17.94

48.20 13.31

51.63 22.13

50.89 19.27

53.32 17.08

Webmaster of Pragati Life Insurance Ltd.

2005-2006, Pragati Life Insurance Ltd. All rights reserved.

Introduction
Health is the most important asset of one's life. Good environment, balanced diet and regular exercise help to prevent many diseases but nothing can guarantee a continued disease free life. Environmental pollution, ecological changes, lack of balanced nutritious diet, increased traffic, continued mental and economic pressure, all contribute to the chance of becoming sick. Almost everybody could afford outpatient treatment, but when hospitalization is required, the heavy expenditure

incurred for hospital treatment adds to worry and anxiety. In order to be free from the worry and anxiety of hospitalization treatment expenses we request you to take a health insurance scheme of Pragati Life. By paying a small premium you can ensure a high level of Hospitalization treatment expenses.

What is covered?
Pragati Life Hospitalization Plan is designed to cover the expenses incurred for hospital treatment which in broad terms includes: Hospital accommodation in private room Consultation with physicians and/or surgeons Medical investigations and tests Major and intermediate surgical operations Use of operation theatre, anesthesia and other services Medicines Ancillary services like Labour room, Post-operative care and Intensive care facility, Blood transfusion, Oxygen therapy etc.

Pragati Life Sells two types of Hospitalization Insurance Plan


1. Individual Hospitalization Insurance Plan 2. Group Hospitalization Insurance Plan

Who can take the Plan?


Any person aged between 18 to 60 years can join the plan. You can also include your spouse and dependent children under the plan and enjoy discount on premium rates.

How to apply?
Just fill in completely and accurately the attached Application Form per family and forward them to our local representative or directly to our Head Office along with requisite premiums preferably by account payee Cheque/DD/PO in favor of the Company or by cash at our Head Office with proper money receipt.

Please dont forget to include two copies of stamp size (25cm X 2cm) photographs for each member.

When does cover commence?


As a general rule there is a waiting period of 4 weeks from the plan commencement date before cover will be effective. However, in the event of injury or serious acute illness, the insured members are covered immediately. There will be no waiting period on renewal.

Send mail to prglife@aitlbd.net with questions or comments about this website. Electronic mail General Information: prglife@aitlbd.net Phone:880-02-(9571522-4) Webmaster: prglife@aitlbd.net Pragati Life Insurance copyright 2005-2006

Plan 01 - Individual Hospitalization Insurance Plan Plan 02 - Group Hospitalization Insurance Plan

Plan 1 - Individual Hospitalization Insurance Plan (IHP) Individual Hospitalization Insurance Plan is introduces to provide hospitalization insurance facilities to individual persons along with his/her family members. Who can take the Plan? Any person aged between 18 to 60 years can join the plan. You can also include your spouse and dependent children under the plan and enjoy discount on premium rates. How to apply? Just fill in completely and accurately the attached Application Form per family and forward them to our local representative or directly to our Head Office along with requisite premiums preferably by account payee Cheque/DD/PO in favor of the Company or by cash at our Head Office with proper money receipt. Please dont forget to include two copies of stamp size (25cm X 2cm) photographs for each member.

When does cover commence? As a general rule there is a waiting period of 4 weeks from the plan commencement date before cover will be effective. However, in the event of injury or serious acute illness, the insured members are covered immediately. There will be no waiting period on renewal. Health Insurance Card Each insured person will receive a personal identification card. You should always carry it with you, as it serves as proof to the hospital of your health insurance and can prevent any discussion about payment. On the back of the insurance card you will find the telephone number for 24-Hour Emergency Service together with information about other ways of contacting the Company. Annual Premium Rate (in Taka) Age in year (age at nearest birthday) 1 45 46 50 51 55 56 60 Econom Executiv y e 1,000 1,500 1,200 1,800 1,500 2,500 2,000 3,500 Plan Executive Plus 2,000 2,250 3,000 4,000 Corporat e 2,500 2,750 3,250 4,500 Corporate Plus 3,500 4,500 6,000 7,500

Premium rates are subject to VAT @15% over premium

Treatment facilities in India is available by paying 40% additional premium over normal
premium rate. Treatment facilities in Thailand including India is available by paying 50% additional premium over normal premium rate. Coverage Discount (on total premium) Self Nil Couple (Husband & wife) 5% Family (Husband, wife & Children) 10% No Claim Discount No Claim Years One year Two Consecutive Year Three or more consecutive Years Discount 10.00% 12.50% 15%

Benefit Schedule (with sub-limits per confinement in Taka)

Economy 25,000 Hospital Stay (Max. days) Room Rent (Actual or Max. Per Day) Consultation Fee (Actual or Max. Per Day) Routine Investigations (Actual or Maximum) *Medicines (Actual or Max.) Surgery (Actual or Max. Tk.) Major Intermediate Ancillary Services (80% of Actual or Max.) Entertainment Allowance Actual or Max. Per Day Actual or Maximum Total *Medicines, in case of Surgical Treatment Cash Benefit per day if admitted in Govt. Hospital Deductible Limit

Executive Executive Corporate Corporate 50,000 14 days 600 300 1,000 5,000 14,000 8,000 3,000 80,000 14 days 1,200 500 1,200 10,000 15,000 10,000 6,000

Plus

100,000 18 days 1500 500 1,500 12,000 16,000 12,000 8,000

150,000 21days 2,000 500 1,500 15000 20,000 12,000 10,000 50 600

Plus

21days 2,000 600 2,000 18,000 22,000 15,000 12,000 70 1,000 10,000 500

2,000 300

4,000

6,000

8,000

300 400 400 Where services are provided free of cost

First Tk. 1,000/- is deductible from each claim payable amount

Plan 2 - Group Term Life Insurance with Refund of Premium: Who can take the Plan? Any organization/institution having at least 25 insurable members can join the plan. Insurable member includes - employee, their spouse and dependent children provided that at least 95% of its eligible employees/members aged between 18 and 60 years must join the plan. A new employee can join the plan after 90 (ninety) days of continuous active service with the employer. Fixation of Premium Rate: Usually premium rates are fixed on the basis of age group, plan option and profession of the group clients. After receiving employees particulars the group department calculates annual premium for that particular group using the tariff rate approved by the Chief Controller of Insurance office. The basic information that is required for premium rate calculation is as follows:

Sl. No.

Name

Designation

Date of Birth

Plan Option

Sometimes, group insurance departments quoted premium rate on the basis of business experience to certain organization. Usually these are large organizations, where the numbers of employees are 500 or more. Annual Premium Rate (in Taka) Age attained (Yrs) Employee Economy Spouse Each child (Age up to 25 yrs) Employee Executive Spouse Each child (Age up to 25 yrs) Employee Executive Spouse Each child (Age Plus up to 25 yrs) Employee Corporate Spouse Each child (Age up to 25 yrs) Employee Corporate Spouse Each child (Age Plus up to 25 yrs) 0 35 550 468 468 990 842 842 1,360 1,156 1,156 1,600 1,360 1,360 3,200 2,720 2,720 36 - 45 46 - 50 51 - 55 56 - 60 690 960 1,375 1,925 587 816 1,169 1,637

1,240 1,054

1,735 1,475

2,475 2,305

3,465 2,945

1,585 1,347

2,030 1,726

2,700 2,295

3,600 3,060

1,850 1,573

2,250 1,913

2,850 2,423

3,780 3,213

3,600 3,060

4,400 3,740

5,700 4,845

7,200 6,120

Premium rate is subject to change from time to time. Treatment facilities in India is available by paying 30% additional premium over normal premium rate. Treatment facilities in Thailand including India is available by paying 50% additional premium over normal premium rate. Size Discount Size of Group Up to 100 101 - 500 501 - 1000 1001 - 2000 2001 & Above

Discount (%) Nil 5 7.5 10 12.5

No Claim Discount No Claim Years Discount (%) One Year 10 Two Consecutive years 20 Three Consecutive Years 30

Benefit Schedule Plan Benefit yearly (Max.) Hospital Stay


(Maximum days)

Economy Executive Executive Corporate Corporate 25,000 14 600 50,000 14 1,200 80,000 18 1500

Plus

100,000 21 2,000

150,000 21 2,000

Plus

Room Rent (Actual or Max. Taka Per Day) Consultation Fee (Actual or Max. Taka Per Day) Routine Investigations (Actual or Maximum) *Medicines (Actual or Maximum Taka) Surgery (Actual or Max. Tk.) Major Intermediate Ancillary Services (80% of Actual or Max. Taka) Entertainment Allowance Actual or Max. Taka Per Day Actual or Maximum Total *Medicines, in case of Surgical Treatment Limitations:

300

500

500

500

600

1,000

1,200

1,500

1,500

2,000

5,000

10,000

12,000

15000

18,000

14,000 8,000

15,000 10,000

16,000 12,000

20,000 12,000

22,000 15,000

3,000

6,000

8,000

10,000

12,000

50 600

70 1,000

2,000

4,000

6,000

8,000

10,000

Maternal benefits for pregnancy or childbirth is covered when the Membership has been in forced for at least ten months under the Plan with the following limitations: Level of Benefits Economy Normal Delivery Max. Tk. 4,000 Caesarean Delivery Max. Tk. 10,000

Executive

Max. Tk. 8,000

Max. Tk. 20,000

However, benefit under Executive Plus, Corporate & Corporate Plus shall be as per Benefit Schedule Designated Hospitals: Pragati Life has a group of designated hospitals in all major cities of the country. If any insured member gets admitted in these hospitals, Pragati Life receives certain percentage of discount over room rent, investigation bills and other hospital services from these hospitals. Moreover, group department is planning to use these hospitals for marketing and selling individual hospitalization insurance plan. In return Pragati Life will allow some financial benefit to these hospitals. Hospitalization & Claims Procedures PRAGATI LIFE seeks to settle the majority of claims directly with the hospital where treatment is received as inpatient preferably in its designated hospitals. If any Member needs hospitalization for treatment, Companys Medical Advisor will help him/her (if he/she desires) through the process of admission to hospital, confirming with the hospital his/her insurance coverage and arranging direct settlement of the insured expenses. The Member must make a phone call and send Fax/e-mail to the Medical Advisors in advance of any planned admission (with doctors advice) and within two working days of any emergency admission. A) Direct Payment: If a Member is admitted in a Hospital/Clinic with whom the Company has Direct Payment Agreement, the Company shall pay all expenses incurred for hospitalization treatment within his benefit limit, directly to the hospital/clinic. Expenses not mentioned in the Benefit Schedule or in excess of the Benefit Limit should be borne by the Member himself/herself.
Reimbursement:

a) Reimbursement shall be allowed only for inpatient treatment in specialized/Govt. hospitals or emergency hospitalization including overseas treatments. The Member shall submit claim through Claim Form (available with the Plan Secretary) to the Company within 2 (two) months after discharge from the Hospital/Clinic for reimbursement of expenses. The Company shall reimburse to the Employer the actual expense incurred for hospital treatment up to the benefit limit upon receipt of all relevant documents within 7 working days. The supporting documents usually shall include the following:
1. Consultants recommendation for hospitalization (original) Discharge certificate (original or photocopy duly attested by the hospital) 3. A photocopy of the patient's file while hospitalized (if possible)

2.

Money Receipt or Bill of Consultants (Physician/Surgeon) fee Bill relating to room charges, investigations and other services where applicable 6. Bill of medicine/drugs 7. Bill relating to Surgical Operation charges (operation theatre, surgical team, delivery charge, anaesthesia & other charges), where applicable 8. Bill relating to ancillary charges (e. g. ambulance service, oxygen therapy, blood transfusions etc.)
4. 5.

Send mail to prglife@aitlbd.net with questions or comments about this website. Electronic mail General Information: prglife@aitlbd.net Phone:880-02-(9571522-4) Webmaster: prglife@aitlbd.net Pragati Life Insurance copyright 2005-2006

Pragati Bima (Rural Insurance) Pragati Bima is the innovative product offering from Pragati Life Insurance Limited. Feel free to contact us on any of the following. Plan A - Shonchoi 3-in-1 Policy Plan B - Shonchoi 3 payments Policy Plan C - Shonchoi 4 payments Policy Plan D - Sonchoi somahar policy Plan E - Education Endowment Policy Plan F - DPS (Pension Policy) Plan G - Jibon Sanchay

You might also like