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Monthly 2 Stage Payment (DPS) Plan

Plan Overview

The welfare and security of life insurance are needed most by low-income and poor families. For the socio-economic security of these communities, NRB Islamic Life Insurance PLC has introduced the small-savings based “Islamic Monthly Two Stage Payment (DPS) Insurance” plan. Its policyholders are able to meet any financial need. This insurance is a service that not only helps the individual but also builds a strong foundation for the country's economy. Because the premium for this policy is taken monthly, quarterly, half-yearly or yearly, it is easy for working people on low incomes to keep the policy running. Through this plan, people in general are encouraged to save. Premiums paid qualify for income tax rebate. The claim amount is also free of income tax.

Features & Benefits

Survival benefit (SB) payable during the policy term:

a) When half of the policy term is completed, 35% of the sum assured is paid as survival benefit.
b) At the end of the policy term, the remaining 65% of the sum assured is paid with the bonus earned.
A special advantage of this plan is that survival benefit (SB) already paid during the term is not deducted when a death claim is paid.

Supplementary cover: No supplementary cover is offered under this plan.

Policy term: 10, 12, 14, 16, 18 and 20 years.

Minimum sum assured: BDT 29,439.

Minimum monthly premium: BDT 300 (three hundred).

Premium payment mode: Monthly.

Terms & Conditions

Maturity benefit: The full sum assured is paid with profit at maturity.

Death benefit: If the policyholder dies during the policy term, the full sum assured is paid to the nominee with the profit earned.

Surrender and paid-up: The policy can be surrendered or made paid-up after premiums have been paid for at least 2 years and that period has passed. No further premium is payable after the policy becomes paid-up.

Age: The minimum entry age under this plan is 20 years and the maximum is 56 years. The maximum age at maturity is 70 years.

Rate Chart : Plan-02

How the premium is calculated:
Yearly premium: The premium rates below apply to yearly premiums.
Half-yearly premium: Yearly premium × 0.525
Quarterly premium: Yearly premium × 0.275

Age Tenure: 10 years Tenure: 12 years Tenure: 14 years Tenure: 16 years Tenure: 18 years Tenure: 20 years
20 9813 11791 13768 15741 17706 19660
21 9813 11791 13767 15739 17703 19654
22 9812 11790 13766 15737 17698 19646
23 9812 11789 13764 15734 17693 19636
24 9811 11788 13762 15730 17686 19624
25 9811 11786 13759 15724 17676 19609
26 9810 11784 13755 15717 17665 19591
27 9808 11782 13751 15709 17651 19569
28 9807 11779 13744 15699 17634 19542
29 9805 11774 13737 15686 17613 19511
30 9802 11769 13727 15670 17588 19473
31 9798 11762 13716 15650 17558 19430
32 9794 11754 13701 15627 17523 19379
33 9788 11744 13684 15600 17483 19321
34 9781 11731 13663 15568 17435 19254
35 9773 11717 13639 15531 17381 19179
36 9763 11699 13611 15488 17320 19094
37 9751 11678 13578 15439 17250 18998
38 9736 11654 13540 15383 17172 18892
39 9720 11626 13497 15321 17084 18775
40 9701 11595 13449 15251 18645
41 9679 11559 13395 15173 16881 18503
42 9654 11519 13335 15088 16764 18348
43 9626 11475 13269 14994 16636 18180
44 9596 11426 13196 14891 16497 17998
45 9562 11372 13116 14779 16346 17802
46 9524 11313 13030 14658 16184 17592
47 9483 11249 12936 14528 16010 17368
48 9439 11179 12834 14387 15823 17129
49 9391 11104 12725 14237 15624 16876
50 9338 11023 12607 14075 15413 16608
51 9281 10935 12481 13903 15187
52 9220 10841 12346 13719 14949
53 9154 10739 12201 13524
54 9082 10630 12046 13317
55 9005 10513 11882
56 8922 10388 11706
57 0 10300
Plan-02 Brochure Download