Report in Delta Life Insurance Company

Executive Summary The development of a country depends up on the consolidate development of all infrastructures like-agricultural sector, industrial sector, financial sector, technological sector etc. But developing all these structures is not easy. A lot of troubles and threats always hinder and make difficulties to success. The most difficult problem is financial risk. So if it is feasible to provide financial protection then most of the structural development will be achievable with minimal efforts. And the most well known practical method for handling financial risk is insurance.

Delta Life Insurance Company Limited was incorporated in November 10, 1986 and is mainly engaged in Ordinary Life (OL), Group Insurance (GI), Health Insurance (HI) business and non-traditional micro insurance business under the name of Gono-Grameen Bima (GN-GRB). The Company is a publicly traded Company and its shares are listed on the Dhaka Stock Exchange and Chittagong Stock Exchange. However, we have prepared this report on Delta Life Insurance Co. Ltd, which is one of the growing and prospective insurance companies in the insurance industry.

The company is providing protection and financial security to the nation, whilst adding shareholders value thought customer service excellence. By the way of examining and evaluation the functions and performance of Delta Life Insurance Co. Ltd, we tried to illustrate a true scenario of insurance industry of Bangladesh. Our report topic is ? Overall Activities Delta Life Insurance Co. Lid?. So, to get an accurate realization about Delta Life Insurance Co. Ltd. Basically, we emphasize on underwriting process & claim settlement issues of Delta Life Insurance Company. 1. Introduction: 1. Origin: As we are the student of business administration we have been authorized by our guide teacher to prepare a report on the activities of Delta Life Insurance Company given to the customers and their underwriting process and claim settlement. 1. 2 Objectives of the report: 1. 2. 1: Broad Objectives: A broad objective is to find out the overall activities of Delta Life Insurance Company ltd and the procedure of underwriting processes and claim settlement issues 1. 2. 2: Specific Objectives: 1. To have a brief idea about insurance industry and their policy and procedures 2.

To find out their services. 3. To find out the different products. 4. To find out the different types rates. 5. To find out the different types condition 1. 3 Scope: To find out the overall activities & accounts department of Delta Life Insurance Company ltd we have visited Motijheel Branch of Delta life insurance compny. 1. 4: Methodology: * Primary Data: Primary data was collected with the help of information given by M. Mosharaof Hossain, Assistant vice president, Delta life insurance company * Secondary Data: Secondary data was collected form the following sources: * Websites Books regarding insurance * Articles on insurance policies 1. 5: Limitations: In this short time, we have tried to give our maximum effort to provide the information about the total activities of Delta Life Insurance Company ltd. Several drawbacks that appeared at the time of preparing the report and hindered the total work process are as under: Time limitation: The limitation of this study involved limited time frame that was available for completing such an in-depth report. Our semester consists of four month.

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Within this time most of the teachers give the assignment or report after mid term exam and we are required to prepare and submit assignment or report within this short time. As a result we had to divide time for preparing report for our courses. As a partial fulfillment of our course we also required to prepare this report within short time. So it was hard to complete tis assignment covering all important matters . Other limitations: * One of the main barriers of the report was the confidentiality of the data * Not able to collect information from the source. It was difficult to include all the information to prepare a proper report Company Background Name, Address, Established date & some words Delta Life Insurance Co. Ltd. established mainly through the initiative of a group of Bangladeshi professionals then working abroad along with a few enthusiastic local entrepreneurs, started its operation in December, 1986 after the Government of Bangladesh allowed the private sector to operate in the insurance sector in 1984 to carry on the business of insurance in the Private Sector. A brief explanation as to the growth of life insurance business in Bangladesh is in order here.

Bangladesh declared independence from the Pakistani rules on March 26, 1971 following which she had to witness a bloody liberation struggle with the occupation forces lasting for 9 months before they were defeated. Insurance business which was exclusively carried on in private sector before independence was nationalized after liberation in 1972 primarily to address the emerging situation of eroding public confidence in the industry that was left staggeringly short of resources in the face of huge losses caused by the war of liberation.

After a series of experimentation, a state-owned body, namely Jiban Bima Corporation (JBC), established in May, 1973 for transacting the life insurance business, took over the assets and liabilities under life portfolios of all erstwhile private insurance companies and started business in its own name. However, things did not improve; rather, in many respects became more exacerbating and the Government then thought it better to allow private sector participation in insurance business.

Since inception, Delta Life set before itself a high standard of all round performance coextensive with professional soundness and proficiency. It soon made a mark in the life insurance arena by not only being the leader among the private sector indigenous companies, but by undertaking and successfully implementing innovative and welfare oriented life insurance schemes. It introduced an array of conventional life and group insurance products – many of which were the first in Bangladesh. For the first time, health insurance products were also introduced by Delta Life.

But more importantly, in fulfilment of the avowed commitment towards social development, Delta Life for the first time not only in Bangladesh but probably in the World, devised and introduced micro-life insurance-cum-savings products specially suited to the needs and pockets of poor people of the country who constitute more than 80% of the people of Bangladesh Two projects of the company namely Grameen Bima for the rural people and Gono Bima for the poor and marginal savers of the urban areas were initiated to devote themslave exclusively to marketing and management of these innovative products.

We are happy to report that we have achieved a good measure of success although there is a long way to go. These schemes that we have introduced have created great stir and enthusiasm among the general mass who, before these projects started functioning, could not even dream of owning a policy that provides the much needed life insurance coverage along with facility of regular savings on a long-term basis. At a later stage i. e. in the year 2002, the projects were merged into a division of Delta Life, namely, Gono Grameen Bima Division.

The GNGRB Division has been growing at a first rate of more than 25% p. a. for the last couple of the years and is poised to maintain this growth rate at least in the next five years or so. Vision To be a market leader in providing integrated total security clients service, to be an innovative, profitable, customer friendly with a global focus. Mission: Create unmatched value for everyone through dependable, effective, transparent and profitable life insurance and pension plans.

Objectives of Delta life Insurance company: To serve the humanity for its well being in the present and the world hereafter by providing financial and moral gains through utmost good faith, good conduct, mutual trust, sincerity, integrity and personalized services. Address of Main Branch: * Delta Life Insurance Co. Ltd * Gouse Pak Building (5th Floor) * 28/G/1, Toyebee Circuler Road * Motijheel C/A, Dhaka Ph: +88 02 9560407 Branches Branches /offices/service center/zone| Address |

Dhaka Service Center| * Gouse Pak Building (5th Floor) * 28/G/1, Toyebee Circuler Road * Motijheel C/A, Dhaka * Ph: +88 02 9560407| Comilla Service Center| * Gani Bhuiyan Mansion (3rd Floor) * Monohorpur, Comilla * Ph: +88 081 68796| Rajshahi Service Center| * C & B More * Kajihata, Rajshahi * Ph: +88 0721 770693| Chittagong Service Center| * Ajmol Arcade (4th Floor) * 1806, Sheikh Mujib Road * Agrabad C/A, Chittagong * Ph: +88 031 713059| Barisal Service Center| * Ahsan Plaza (2nd Floor) * Bot Tola * Nobogram Road, Barisal * Ph: +88 0431 64306| Dhaka Metro ZOC| * Baitul Abed Tower (10th Floor) * 53, Purana Paltan * Dhaka * Ph: +88 02 9570324| Chittagong ZOC| * 119/120, Mirzapur * Muradpur, Chittagong * Ph: +88 031 656333| Barisal ZOC| * Shahida Villa (3rd Floor) * Bogra Road, Barisal * Ph: +88 0431 62943| There are so many branches existing in Bangladesh. We don’t want to include those. Board of Directors Chairman Mr. Monzurur Rahman Directors: * Mr. Aziz Ahmed * Mr. Kazi Fazlur Rahman * Mr. Borhanuddin Ahmed * Ms. Anika Rahman * Mrs. Adeeba Rahman * Mr. Zeyad Rahman * Mr. Md. Mujibur Rahman * Mr. Md. Abdul Wahab * Mr. Arif Ahmed * Mr. Md. Nurul Islam * Mr. Golam Sarwar * Mrs. Syeda Soyeli Ahmed * Ms. Saika Rahman 2. 1 Committees of the Board Audit Committee Chairman * Mr. Aziz Ahmed

Member * Mr. Borhanuddin Ahmed * Mr. Md. Mujibur Rahman * Mr. Zeyad Rahma ————————————————- Delta life Insurance Co. Ltd Organogram of Delta Life Insurance Company Ltd Chapter-02 Performance Analysis General Accounts (Provisional and Unaudited) `(Amount In Crore Tk. ) General: Particulars| 2010| 2009| 2008| 2007| 2006| First Year Premium| 120. 51| 107. 40| 95. 32| 82. 30| 85. 40| Renewal Premium| 342. 91| 302. 83| 266. 79| 245. 00| 207. 60| Group Insurance Premium| 21. 28| 19. 94| 16. 17| 10. 60| 8. 32| Health Insurance Premium| 14. 42| 10. 68| 5. 22| 3. 29| 2. 66| Gross Premium| 499. 12| 440. 85| 383. 50| 341. 9| 303. 44| Growth over Previous Year| 13. 22 %| 14. 95 %| 12. 40 %| 12. 44 %| 17. 84 %| Investment Income| 298. 95| 180. 99| 127. 99| 112. 00| 89. 66| Income from Other Sources| 5. 89| 4. 87| 4. 83| 2. 61| 1. 41| Management Expense Particulars| 2010| 2009| 2008| 2007| 2006| Commission Expense| 91. 16| 80. 36| 69. 35| 62. 67| 63. 67| Admin Expense| 68. 69| 62. 34| 56. 40| 50. 26| 44. 45| Management Expense (as % of gross premium)| 32. 03| 32. 37| 32. 79| 33. 10| 35. 63| Claims Particulars| 2010| 2009| 2008| 2007| 2006| Number of Claims| 149051| 156444| 214301| 151523| 59567| Amount of Claims| 223. 54| 204. 80| 243. 40| 175. 81| 89. 85| Others

Particulars| 2010| 2009| 2008| 2007| 2006| Assets| 2,180. 23| 1,755. 61| 1,473. 62| 1,325. 25| 1,129. 92| Life Fund| 2,034. 95| 1,619. 00| 1,347. 01| 1,206. 07| 1041. 44| Chapter-03 Number of policies 1. Ordinary Life Insurance 2. Gono Grameen Bima 3. Group Life Insurance 4. Health Insurance Chapter-04 Under – writing process & claim settlement process: 4. 1: Ordinary Life Insurance Delta Life offers a wide variety of ordinary life product/plans ranging from the most common endowment type to more modern and sophisticated plans like endowment with open term, pension plan with built in provision for increasing pension, increasing protection with provision for premium refund etc.

The plans have been designed keeping in view the diverse and multifaceted needs of the insuring public belonging to different strata of the society. Some of the popular plans are briefly described below. 4. 1. 1: Endowment plan with and without profits: The most common and widely popular, this plan provides for a fixed sum at end of a particular term or at earlier death of the assured. The plan is available under both options i. e. with profit and without profit. This is a straightforward coverage allowing a person to plan his future needs for security and projected savings through means of insurance. eds for security and projected savings through means of insurance. 4. 1. 2: One-two-three endowment plan with profits

This plan provides for high security at earlier death of the assured before expiry of term (10 & 20 years) or the sum assured at expiry of the term. The plan provides for double the sum assured at premature death due to illness or treble the sum assured if death occurs directly as the result of an accident along with accrued bonuses till death or maturity as the case may be. 4. 1. 3: Installment payment plans with or without profit: a) Three payments plan Given for terms like 12, 15, 18, 21 years with or without profits this plan provides for one fourth of the sum assured upon expiry of each one third of the term and on death at anytime within the term the full sum assured – payment of one or all the installments notwithstanding.

In case of survival to the end of the term remaining portion of the sum assured along with profits is paid after deducting the installments already paid. b) Bi-annual payment plan is given for 10, 15 & 20 years’ term and provides for payment of a portion of sum assured bi-annually after expiry of the 4th year of the policy, if the policyholder is then living. The amount of installment and when payable is shown in the table below: Policy Term| Amount of Installment| When Payable| Sum Assured Payable on Maturity| 10 Years| 20%| Upon expiry of 4th, 6th, 8th years| 40%| 15 Years| 15%| Upon expiry of 4th, 6th, 8th, 10th 12th years| 25%| 20 Years| 10%| Upon expiry of 4th, 6th, 8th, 10th, 12th, 14th, 16th ; 18th years| 25%|

Notwithstanding the payment of any number of installments, the policyholder remains covered for full risk and on death occurring before maturity, full sum assured is payable. * The higher numbered table refers to without profit premium rates. 4. 1. 4: Premium back term Insurance Plan without Profits These are comparatively low cost plans. These plans provide for payment of sum assured in case of premature death within the term or refund of all premiums paid at end of term. Under Table-59(A), sum assured keeps on increasing at 8% p. a. on each successive policy anniversary and such increased sum is paid at death during the term. On survival up to the end of term, all premium paid during the term is paid.

Under Table-65(A) a guaranteed profit equal to 10% of sum assured is paid along with full premium at end of term as survival benefit. On death before maturity, the sum assured is payable. 4. 1. 5: Pension Plan (Table-72A, 72D) without profits. Under plan pensions are provided at quarterly intervals from an age designated by the policyholder for life, guaranteed for a minimum period of 10 years i. e. if the pensioner dies anytime within 10 years his designated nominee will get pension for remaining term of 10 years. Before pension starts, if the assured policyholder dies, 10 times the annual pension is paid as a lump-sum to his nominee and the policy is terminated upon such payment.

There is another plan that while providing for full protection against premature death as described above, provides for pension from a designated age as elected by the policyholder at an increasing rate i. e. pension will increase at 10% at intervals of two years. Payment of pension is guaranteed for at least ten years and thereafter as long as the pensioner lives. Both these pension plans provide for waiver of premium in case of permanent and total disability due to accident before commencement of pension. 4. 1. 6: Child Educational Protection Plan with Profits Multiple benefits in the form of scholarships, monthly annuities etc. in addition to sum assured are available under these plans.

Under one plan sum assured or a part thereof is also payable to the policyholder in case the child dies prematurely. 4. 1. 7:. Tri-dimensional Policy Built-in benefits for payment of 50% sum assured immediately if critical illness is diagnosed. Premium and the sum assured will thereafter be halved and the policy continues. Under this plan, a spouse may also be covered for major disease benefits. 4. 1. 8: Moving Term Plan Policies under the plan are initially issued and is to be taken for a minimum term (6 to 10 years) as elected by policy holder. Any time within this minimum term if death occurs, full sum assured is payable. At the expiry of the minimum term, the policy may be surrendered for full refund of premiums paid.

However, the policyholder need not terminate his policy at end of the minimum specified period. The policy will automatically continue till age 65 years of the policyholder unless he terminates it earlier. The survival benefit comprises of refund of all premiums paid along with bonuses. In case of premature death the nominee(s) is paid the sum assured plus all premiums paid till death, or all premiums paid with profit accrued till death whichever is greater. 4. 1. 9: Single Premium Multiple Security Plan It is a single Premium Policy offering multiple securities for five years term. It covers natural death, permanent and partial/total disability and seven major diseases.

Premiums are based on the age of the proposer. This plan perfectly suits the needs of the executive class. Policy Conditions * Surrender Value: After payment of two full years’ premium, the policy acquires cash surrender value which is quoted on request unless stated in the policy itself. * Loan: At any time after a cash surrender value is available under the policy and while the policy is in force, the policyholder may obtain, subject to the company’s existing rules, a loan on the policy up to 90% of the cash surrender value. * Age Proof: Age of life assured as declared while applying for the policy has to be authenticated with an age proof document acceptable to the company.

The company reserves the right to require proof of age of the life assured before paying any claim under the policy if not admitted earlier. * Settlement Option:Payee may elect to receive the proceeds of the policy in installments instead of in a single sum, in such a manner as may be agreed upon with the company. * Suicide: Should the life assured commit suicide, whether the assured be then sane or insane, within two years from the commencement date or from reinstatement of the policy, then the liability of the company shall be limited to the refund of all premiums paid under the policy less indebtedness, if any, at the time of such death. Bonus: Delta Life pays attractive bonuses to its with-profit policies.

The present rate of policy bonuses are as following: a) A compound reversionary bonus @ 5% of paid up sum assured. This bonus is not paid on the installments withdrawn (under Table-03, 04) from the date of such withdrawal. b) A simple reversionary bonus ranging from Tk. 10 to Tk. 15 per thousand sum assured per year depending on term. c) A terminal bonus equal to 10% to 12% of sum assured at maturity of policy depending on terms if the policy would have been in force for at least 2/3rd of its term. Average Rate of Bonus On the basis of the three types of bonuses the Company now pays to its with profit policies, the average bonus earned by a Tk. ,00,000 sum assured endowment policy (except Table No. 03, 04) per thousand sum assured per year shall be as following: Term of Policy| Total Bonus at Maturity| Average Rate per Thousand per S. A. year| 10 Years| Tk. 52,000. 00| Tk. 52. 00| 15 Years| Tk. 81,000. 00| Tk. 54. 00| 20 Years| Tk. 1,15000. 00| Tk. 58. 00| | | | | | | | | | | | | 4. 2: Gono Grameen Bima Delta Life first launched Micro-insurance product in 1988 through its Grameen Bima Project(GRB) to cater to the necessity of economic protection against premature death and of disability as well as providing a way for regular savings for the poor and low income group of people living in villages.

Later it started another project in 1994, namely, Gono Bima(GNB) for the urban poor and the low income class. These projects are now merged under the name of Gono-Grameen Bima Project(GN-GRB). The initial problems apart, the project started to yield impressive results right from the beginning by creating great interest among the target population who could not even perceive an institutional arrangement through which the ever present problems of insecurity of life could be addressed. To suit the needs and pockets of the target people, and for efficient management of these portfolios, some of the age-old traditional concepts of carrying on life insurance business had to be diluted and in some cases replaced by simple and straightforward practices.

Yet, the results are so encouraging that Delta Life is now regarded far and wide as the undisputed leader espousing the cause of welfare of teeming millions and its experiences are now used to advantage not only by indigenous companies but also other micro-savings organizations abroad. 4. 2. 1: Target Group and the Product In GN-GRB the formalities are minimum. Insurance Cover is given under Group Insurance concept. A person interested in a policy submits a simple two-page proposal form; it is signed or thumb imprinted by him or her. There is no need for medical check-up. The person needs to be between 18 and 45 years of age, have a monthly income of Tk. 5,000. 00 (US $100. 00) or less, be of good health and supply a Declaration of Good Health (DGH) at the time of submitting the Proposal form.

Death through pregnancy complications within the first year of the policy and death through suicide in the first year of the policy are not covered under an “exclusion clause”. Simple endowment with profit policies are offered for 10 and 15 years term both with premium payment mode being weekly or monthly. Premium rate is the same irrespective of age at entry. Besides this plan, new plans like three-payment plan with 12 and 15 years term and double protection endowment plan have recently been introduced. 4. 2. 2: Policy Documents Upon acceptance of the proposal, a pass book is issued to the policyholder detailing all terms and conditions of the policy.

The pass book serves as the purpose of recording of all payments made by him towards the policy. There is one group policy document for the policyholders of each Thana or Block. For individual policyholders the passbook serves as policy document. 4. 2. 3: Micro Investment (Loan) GN-GRB gives small project loans to its policyholders on a group liability basis. No collateral is required. There is 20% service charge on the loans, which is calculated at a flat rate and added to the principal amount. The loan, together with the service charge, is repayable in 12 equal monthly installments. The repayments are collected from door to door by the organizers. Recently a decision has been taken to establish small collection booths in the villages.

A person must be a policyholder and pay premiums for atleast one year before being eligible for a loan. The maximum loan given is Tk. 5,000. 00 (US $100. 00) per policyholder. The loans are for income generating activities (IGA) only. Policyholders form a committee of 5 to 7 members. 3 policyholders selected by the committee are given the first loan. After recovery of 3 installments from each of the first three borrowers, the next 3 are given their loans and so on. As a general rule, 60% of the premium income of an area and 40% of the repaid loan of an area are available for loan in that area. Also 100% of premium collection of a committee is available for loan to that committee. 4. 3: Group Life Insurance Group Life Insurance

Group Insurance is an instrument for providing life insurance coverage (protection) to a number of individuals under a single contract (policy) who are associated together for a common interest other than insurance. It is the most cost effective means to provide immediate financial support to an insured member and/or his family in case of devastating events like-death, disability, disease as well as retirement. Group Insurance has already established its importance as a component of “Employee Benefit Package” in Bangladesh. Exclusive features of Group Insurance are: * Insurance coverage to a number of individuals under a single contract * Simple insurable conditions * Easy administrative procedure * Prompt claim settlement Affordable premium * Tax exemption on premium Delta Life offers a host of Group-Life Insurance schemes from which an organization/ employer may choose for benefits of its members/employees, as may best serve their interest according to organizational setup. To be treated as a group, the following criteria need to be fulfilled. * A “Group” Should comprise of at least 15 members * It should be a legitimately organized body Group clients of Delta Life Insurance Company Limited include: * Semi-Government organization, autonomous bodies * Private, Non-Government Organizations (NGO’s) * Educational & Financial Institutions * Public Limited Companies Associations, Business organizations etc. Group Life Insurance Schemes offered by Delta Life are of two types: * Traditional Schemes: For insurance coverage of members/employees of a Group * Exclusive Schemes: For insurance coverage of clients of Financial Institutions 4. 3. 1: Traditional Scheme: These are the commonly offered “Group-Life Insurance” schemes and are also known as Basic Schemes: These are: Short Term Contract * Group Term Life Insurance Scheme (GT) * Group Term Life with Premium Refund Scheme (GTR) Long Term Contract * Group Endowment Life Insurance Scheme (GEN) * Group Pension Scheme (GP) There are several variants of Basic Schemes.

Examples of two variants of GTR are * GTR-100/10: Group Term Life with 100% Premium Refund after 10 years * GTR-50/10 : Group Term Life with 50% Premium Refund after 10 years Salient features of the Basic Schemes: Group Term Life (GT) * Insurance coverage worldwide round the clock * Contract, Initially for three years and is Renewable * Simple Claim procedure * Prompt claim settlement upon death of an insured * Option to alter sum assured at any time * Exclusion & Inclusion of members under coverage at any time * Premium Rate- comparatively lowest among the basic schemes * Option for supplementary covers to enhance benefit * Profit Sharing options for large groups Group Term Life Insurance with Premium Refund (GTR) Insurance coverage worldwide round the clock * Contract, initially for ten/fifteen years * Simple Claim procedure * Prompt claim settlement upon death of an insured * Exclusion & Inclusion of members under coverage at any time * Reasonable Premium Rate, but higher than GT Scheme * Refund of basic premium (full/partial) on completion of term or retirement * Payment of Surrender Value in case of Policy discontinuation & exclusion * Conversion Privilege to take Individual Life Insurance Policy in lieu * Option for supplementary covers to enhance benefit Group Endowment Life Insurance (GEN) * Insurance coverage worldwide round the clock Continuous Contract, unless terminated by either party * Simple Claim procedure * Prompt claim settlement upon death of an insured * Exclusion & Inclusion of members under coverage at any time * Premium rate-age dependant and variable * Payment of sum assured as per contract on retirement * Payment of Surrender Value in case of discontinuation * Conversion Privilege to take Individual Life Insurance Policy in lieu * Option for supplementary covers to enhance benefit Group Pension Scheme * Provides for quarterly/yearly pension based on last salary * Continuous Contract, unless terminated by either party * Scope for taking “Death in Service” benefit Scope of taking “Joint life last survivor pension” benefit * Scope for life pension with/without guaranteed payment period * Exclusion & Inclusion of members under coverage at any time * Premium rate- age dependant and variable * Payment of Surrender Value in case of discontinuation * Option for supplementary covers to enhance benefit | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Features&Benefits| Basic Schemes| | Group Term Life (GT)| Group Term Life with Premium Refund (GTR)| Group Endowment Scheme(GEN)| Age Limit for  Insurance Coverage| 18 years to 60 Years| 18 years to 60 Years| 18 yrs. to the age of retirement (max. 60 yrs)| Duration of  Contract| 3 years in each spell| 10 years or 15 years in each spell| Continuous Contract, if not terminated| Scope for Inclusion & Exclusion| Yes| Yes| Yes|

Scope for Inclusion& Exclusion| Yes| Yes| Yes| Scope for Alteration of Sum Assured| Yes| Yes| Yes| Premium Rate| Single & Fixed (irrespective of age Low}| Single & Fixed (irrespective of age)| Variable; age dependant premium rate| Benefits:| Death (payment of Insured amount on death)| Yes| Yes| Yes| Maturity Benefit| None| None| Payment of Sum Assured as per contract during retirement| Premium Refund| None| Refund of Premium as per contract on retirement or completion of term. Payment of surrender value in case of non completion of term| None| Profit Share| Provided to large groups only| None| None| On Payment of Additional Premium 1.

Accidental Death Benefit (ADB) 2. Permanent Total Disability (PTD) 3. Permanent Partial Disability (PPT) 4. Dismemberment Benefit (DB) 5. Major Disease Benefit (MDB)| All or any one of those may be taken except DB which is offered only with ADB| All or any one of those may be taken except DB which is offered only with ADB| All or any one of those may be taken except DB which is offered only with ADB| | | | | Supplementary Covers: To provide insurance protection against few devastating conditions other than death, and to enhance insurance benefit in case of sudden accidental death, several Supplementary Covers are offered along with basic schemes.

Supplementary covers include: * Accidental Death Benefit (ADB): Provides for double sum assured in case of accidental death. * Permanent and Total Disability Benefit (PTD): Provides for full sum assured on happening of defined risks. * Permanent & Partial Disability Benefit (PPD): Provides for certain percentage of the sum assured as per schedule on happening of the defined risks. * Dismemberment Benefit (DB): Provides for a certain percentage of Sum Assured as per schedule on happening of the defined risks. It is only offered with ADB. * Major Disease Benefit (MDB): Provides for 25% or 50% of S. A. upon diagnosis of a few specific life threatening diseases 4. 3. Exclusive Schemes: These are schemes, especially designed for financial institutions, in order to secure their investment and adorn the product to make it attractive to customers as well as to protect interest of the client. Few examples are: * Home Loan Insurance: e. g; Scheme for “Home Loan Borrowers” of Delta Brac Housing * Depositor’s Insurance: e. g; Scheme for “Smart Plant” Depositors of Dhaka Bank Ltd Premium: For traditional schemes: Premiums are usually payable annually in advance before commencement of insurance. For exclusive schemes: A single premium is payable for the whole period of coverage before commencement of insurance. *Details about the schemes are provided with “Insurance Proposal” How to get a Group Life Insurance Proposal? For Proposal: fill in the Proposal Request Form and send it to us at our contract address For Quotation: fill in the “Proposal Request Form” and send it to us at our contract address accompanied by the list of members to be insured with following details | | | | | |   Sl#| Name| Designation| Date of Birth| Sum Assured| | | | | | |  |  |  | *If sum assured depends on salary, mention salary and desired multiple to determine Sum Assured Claims are settled to the concerned organization. 4. 4: Health Insurance Health Insurance Health Insurance is now considered indispensable in developed countries.

In the present financial-social perspective of Bangladesh as well, Health Insurance has now become an essential, dependable, acceptable and the most cost effective means to make the modern treatment facilities affordable to all socio-economic classes of people, especially the fixed income group. As a pioneer of Health Insurance in Bangladesh, Delta Life Insurance Company offers several Health Insurance Schemes, which are as follows: 4. 4. 1: Hospitalization (In-patient) treatment coverage plans * Hospitalization Insurance Plan (Group)- offered to Members of a group and their dependants (if desired) * Hospitalization Insurance Plan (Individual) – offered to an Individual as well as his or her dependant family members also known as “DeltaCare Hospitalization Plan”. 4. 4. : Out-patient treatment coverage plans * Out-patient Insurance Plan – Offered as an adjunct to Group Hospitalization * Out-patient Management Plan – Offered as an adjunct to Group Hospitalization 4. 4. 3: Overseas treatment coverage plan for travelers * Overseas Medicliam Policy (OMP) – A pre-requisite for visa application offered only to Individuals traveling abroad. 4. 4. 4: Hospitalization Insurance Plans * Covers in-patient (Hospitalization) treatment expenses of an insured member Expenses Covered under Hospitalization Insurance Plans * Hospital Accommodation * Consultation Fee * Medicine ; Accessories * Medical Investigations * Surgical Operation Ancillary Services like Blood Transfusion, Ambulance Service, Dressing etc. General Features of the Scheme * No need for preliminary Medical Examination during enrolment. * Treatment coverage round the clock inclusive of Accidents and Emergencies. * Coverage offered to Bangladeshi National as well as resident foreigner. * Treatment at any renowned hospital or clinic by consultant of own choice. * Preferential service at Designated Hospital. * Direct payment of treatment expenses by the company at Designated Hospital. * Reimbursement of expenses for treatment at non-designated hospital. * Membership ID Card for each insured to facilitate preferential services. Option for Maternity Benefit and Overseas Treatment coverage. * Provision for inclusion of Spouse ; Children under the plan. * Provision for inclusion of new member under the plan. * Coverage up to 65 years under Group HI ; 60 years under Individual HI plan. * Two types of plans with several benefit grades to choose from. * Option to choose more than one grade according to status of the members of a group. * Option to alter benefit grade during renewal. Exclusion from Coverage: Major Exclusions include * Congenital infirmity * Pre-existing condition for certain period * Psychiatric disorders and narcotic addiction * Attempted suicide and self-inflicted injury * Dental Treatment Pre or post hospitalization expenses and out patient treatment expenses * War risk, civil commotion or violence * Routine health checkup * Treatment for family planning purpose, contraception and infertility 4. 4. 5: Group Hospitalization Insurance Plans Types of plan offered: Standard Plan: Distinctive Hospitalization Insurance Plan of Delta Life Customized Plan: Tailored to the need and desire of the client. Standard Plan: Five Grades of benefits are offered under standard plan to choose from Benefit per Hospitalization| Benefit Grades| Mastercare| Supercare| Deluxcare| Exclusivecare| Royalcare| Max. Benefit (Each Insured Per Year)| Tk. 25,000| Tk. 45,000| Tk. 5,000| Tk. 100,000| Tk. 140,000| Hospital Stay (Maximum days)| 10| 12| 15| 18| 20| Room Rent (Actual Expenditure upto a Maximum Amount Per Day)| Tk. 500| Tk. 1,000| Tk. 1,500| Tk. 1,800| Tk. 2,000| Consultation Fee (Actual Fee upto a Maximum Amount Per Visit ; One Visit Daily)| Tk. 300| Tk. 500| Tk. 500| Tk. 500| Tk. 500| Routine Investigations (Actual Expenditure upto a Maximum Amount)| Tk. 1,000| Tk. 1,200| Tk. 1,400| Tk. 1,600| Tk. 2,000| Medicines ; Accessories (Actual Expenditure upto a Maximum Amount)| In Case of Surgical Treatment| Tk. 2,000| Tk. 4,000| Tk. 6,000| Tk. 8,000| Tk. 10,000| In Case of Conservative Treatment| Tk. ,000| Tk. 10,000| Tk. 12,500| Tk. 15,000| Tk. 18,000| Surgery (Actual Expenditure upto a Maximum Amount)| Major Intermediate| Tk. 12,000| Tk. 14,000| Tk. 16,000| Tk. 20,000| Tk. 22,000| Charges included for Surgeon, Assistant, Operation Theater ; Anaesthesia| Tk. 6,000| Tk. 8,000| Tk. 10,000| Tk. 12,000| Tk. 15,000| Ancillary Services (80% of Actual Expenditure upto a Maximum Amount)| Tk. 2,000| Tk. 5,000| Tk. 8,000| Tk. 10,000| Tk. 12,000| Premium (For each insured per year) based on Age Attained (in Years) Benefit Grades| Master care| Super care| Delux care| Exclusive care| Royal care| 18 to 35 Years| Employee| Tk. 600| Tk. 1,080| Tk. ,535| Tk. 1,920| Tk. 3,360| Spouse| Tk. 510| Tk. 920| Tk. 1,310| Tk. 1,630| Tk. 2,855| 35+ to 45 Years| Employee| Tk. 750| Tk. 1,350| Tk. 1,795| Tk. 2,160| Tk. 3,780| Spouse| Tk. 635| Tk. 1,145| Tk. 1,520| Tk. 1,835| Tk. 3,210| 45+ to 50 Years| Employee| Tk. 1,050| Tk. 1,890| Tk. 2,300| Tk. 2,640| Tk. 4,620| Spouse| Tk. 895| Tk. 1,605| Tk. 1,955| Tk. 2,245| Tk. 3,930| 50+ to 55 Years| Employee| Tk. 1,500| Tk. 2,700| Tk. 3,060| Tk. 3,360| Tk. 5,880| Spouse| Tk. 1,275| Tk. 2,295| Tk. 2,605| Tk. 2,855| Tk. 4,995| 55+ to 60 Years| Employee| Tk. 2,100| Tk. 3,780| Tk. 4,075| Tk. 4,320| Tk. 7,560| Spouse| Tk. 1,785| Tk. 3,215| Tk. 3,420| Tk. ,670| Tk. 6,425| 60+ to 65 Years| Employee| Tk. 3,150| Tk. 5,670| Tk. 6,113| Tk. 6,480| Tk. 11,340| Spouse| Tk. 2,678| Tk. 4,823| Tk. 5,130| Tk. 5,505| Tk. 9,683| Each Child (Below 25 Years)| Tk. 510| Tk. 920| Tk. 1,310| Tk. 1,630| Tk. 2,855| Maternity Benefit (Maximum Amount as per Benefit Schedule above) Benefit Grades| Mastercare| Supercare| Deluxcare| Exclusivecare| Royalcare| Normal Delivery| Tk. 5,000| Tk. 7,500| Tk. 10,000| Tk. 12,500| Tk. 15,000| Caesarian Delivery| Tk. 10,000| Tk. 15,000| Tk. 20,000| Tk. 25,000| Tk. 30,000| For Maternity Benefit, an Extra Premium @40% shall be charged on the Basic Premium of the beneficiary group

Group Discount Schedule| Size of Group| Size of Group| Uo to 100| Uo to 100| 101 – 500| 101 – 500| 501 – 1000| 501 – 1000| 1001 – 2000| 1001 – 2000| 2001 ; Above| 2001 ; Above| No Claim Discount Schedule| No Claim Years| Discount on Renewal Premium| One Year| 10%| Two Consecutive Years| 20%| Three Consecutive Years| 30%| | | | | | | | | | | | | VAT if imposed by government, shall have to be paid by the organization concerned. N. B. For large groups a “fixed premium rate” irrespective of the age is offered upon recieving the list of members to be insured. Customized Plan Benefit Schedule ; Premium Rate * Benefits desired has to be provided by the client A “fixed premium rate” irrespective of age is offered on receipt of the list of members to be insured. How to get a Group Hospitalization Insurance Proposal? * For Proposal: Fill in the “Proposal Request Form” and send it to our contact address.. * For Quatation: Fill in the “Proposal Request Form” and send it to our contact address accompanied by the list of members to be insured with following details. Sl#| Name| Date of Birth| *Status| Benefit Grade| | | | | | *Status means rank of an employee or his relationship with dependant (spouse/children) Individual Hospitalization Insurance Plan * Bengali Leaflet * Proposal Form Overseas Mediclaim Policy (OMP)

This is a distinctive Health Insurance Policy issued to travelers only. It is also a pre-requisite for Visa application of developed countries. The Policy is issued to Bangladeshi Nationals and Foreigners resident in Bangladesh Overseas Mediclaim Policy issued by Delta Life is universally accepted by all foreign Embassies and High Commissions in Bangladesh. Types of Policy * Plan A: For visiting any Country of the World (except USA ; Canada) * Plan B: For visiting all Countries of the World Coverage under both Plan A ; Plan B exceeds €30,000 EURO Key Features of the Policy * Age Limit : Policy issued to Individuals from the age of 6 months to 65 years. Nationality: Policy issued to Bangladeshi and Foreigner Resident in Bangladesh * Covered Expenses: Treatment expenses incurred for sudden and unexpected illness or accident while on tour abroad. * Maximum Benefit: * Plan A: US $50,000 (Fifty Thousand US Dollar) * Plan B: US $100,000 (One Hundred Thousand US Dollar) How to take out an “Overseas Mediclaim Policy” * Fill in a “Proposal Form”. * Attach photocopy of the first five pages of the passport * Enclose required amount of premium in cash as per “Premium Rate Chart”. Send those these to Health Insurance Department at the Head office of Delta Life *Physical presence or Photograph of proposer is not required. *it takes only about 30 minutes to get an Overseas Mediclaim Policy. “Proposal Form” is also available at Head Office and Agency Offices of Delta Life Insurance Co. Ltd. d

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