We have long life insurance in our country but the awareness among people was low. Currently , the importance and demand of life insurance in Bangladesh is increasing day by day . In today’s article, I will discuss five important life insurance issues.
2. Dedication or Affirmation of Policy:
Prior to the expiry of the policy, the policy holder surrenders or affirms that the policyholder does not want to continue or terminate the policy for a later period. Generally, if the policy is verified within two years, no compensation or compensation is available. If the surrender of the policy can be compensated at any time after two years have passed. That loss is less than the total accumulated premium. Validation value depends on the cash value. Some company-based cash value lists are listed in the policy document. Partial verification cannot be performed.
2. Bonus for not claiming:
In case of some insurance policies not claimed or if the insurance period has expired, part of the sum insured is paid as bonus. What is known as the fox Ikhoyog ingghaz. The company adjusts its premium as a premium for renewal of the policy without ever paying the bonus or cash.
2. Nominee on an insurance policy:
As a nominee in a life insurance policy, those who are involved will be considered as heirs and will benefit the entirety of the insurer. No one else will have a partner or share of the money they deserve.
2. Premium waiver:
Permanent Physical Disability Premium waiver benefit due to insurer accident and illness. In this case the policy continues until the death of the insured or the policy expires. If the policy has a premium waiver benefit.
The insurer, who is completely and permanently unable to manage his profession due to accident or illness, is called a death in the profession. Permanent inability to die in the profession. In addition, disability may be partial, temporary or complete.
2. TAMADI or LAPS policy completed:
In the event that the policy does not pay the premium, the policy becomes lapsed. Prior to the reopening of Tamadi or LAPS policy, the insurer reinsures the policy based on the insurable interest, along with the proof of receipt of the policy. In case of policy rehabilitation, emphasis is given on specified time.
2. Insurable interest:
Insurable interest in life insurance policies is governed by the law. Which is limited to a certain number of persons. If the insurable interest is protected then the financial gain and the loss will result in financial suffering.
2. Policy loan
The policy loan is paid on the basis of the acquisition of the surrender value on the policy. The present value of the policy is the surrender value The company provides loans up to 5% of the surrender value.
The premium is the amount that the insurance customer is able to pay on a monthly / fortnightly / yearly basis, unlike insurance contracted with the company.
2. Premium for additional risk:
Additional premiums are charged on premium rates in cases where the additional risk is observed for the insurer and the death rate is higher than the normal rate. Examples include: – Over-diabetic patients, smokers, people in the elevator or cornea and those employed in other hazardous occupations.