FarEast Islami Life Insurance is a leading insurance company in Bangladesh that provides a range of life insurance products and services to its customers. The company is committed to providing its customers with comprehensive protection and financial security, and has a strong reputation for reliability, integrity, and customer service.
Fareast islami life insurance
History and Background
FarEast Islami Life Insurance was established in 2000 as a joint venture between Far East Insurance Company Limited of Japan and Islami Bank Bangladesh Limited. The company is headquartered in Dhaka, Bangladesh, and has a network of branches and sales offices throughout the country.
The company’s mission is to provide its customers with peace of mind and financial security through innovative and affordable life insurance products and services. FarEast Islami Life Insurance is committed to serving the needs of its customers with professionalism, integrity, and compassion.
Life Insurance Products
FarEast Islami Life Insurance offers a range of life insurance products to meet the diverse needs of its customers. These products include:
Term Life Insurance: This product provides coverage for a specific period of time, such as 10, 15, or 20 years. The premium is fixed for the duration of the policy, and the death benefit is paid to the beneficiary if the insured passes away during the policy term.
Whole Life Insurance: This product provides coverage for the insured’s entire life, as long as the premiums are paid. The death benefit is paid to the beneficiary upon the insured’s death, and the policy may also accumulate cash value over time.
Endowment Insurance: This product provides coverage for a specific period of time, and also includes a savings component. The death benefit is paid to the beneficiary if the insured passes away during the policy term, and if the insured survives the policy term, the savings component is paid out as a lump sum.
Pension Plan: This product provides a retirement income for the insured, and may also include a death benefit for the beneficiary. The premium payments are invested in a pension fund, which is used to provide the retirement income.
Customer Service and Support
FarEast Islami Life Insurance is committed to providing its customers with the highest level of customer service and support. The company’s customer service team is available to answer questions, provide guidance, and assist with claims processing.
The company also provides online services, including policy renewals, premium payments, and claims submissions. Customers can access their policy information and account balances through the company’s website or mobile app.
In addition to its customer service and support, FarEast Islami Life Insurance is committed to corporate social responsibility. The company supports a range of social and charitable initiatives, including education, healthcare, and disaster relief efforts.
Conclusion
FarEast Islami Life Insurance is a leading insurance company in Bangladesh that provides a range of life insurance products and services to its customers. The company is committed to providing comprehensive protection and financial security, and has a strong reputation for reliability, integrity, and customer service.
If you are in Bangladesh and looking for a reliable and trustworthy life insurance provider, FarEast Islami Life Insurance is definitely worth considering. With its range of products and services, commitment to customer service, and dedication to corporate social responsibility, the company is well-positioned to meet the needs of its customers and make a positive impact in the community.
Invest in Your Future with FarEast Islami Life Insurance’s Endowment and Pension Plans
FarEast Islami Life Insurance is a leading insurance company in Bangladesh that provides a range of life insurance products and services to its customers. One of the key products offered by the company is its endowment and pension plans, which are designed to help customers save for their future and achieve financial security.
Endowment Plans
FarEast Islami Life Insurance’s endowment plans offer a combination of life insurance coverage and savings. These plans provide customers with a lump sum payment at the end of the policy term, either as a survival benefit or as a maturity benefit.
Survival Benefit: With a survival benefit endowment plan, the policyholder receives periodic payments during the policy term, and a lump sum payment at the end of the term if they survive. This provides customers with a regular income stream while also building up savings for the future.
Maturity Benefit: With a maturity benefit endowment plan, the policyholder receives a lump sum payment at the end of the policy term. This can be used for a range of purposes, such as funding a child’s education or purchasing a home.
Both types of endowment plans offer life insurance coverage, which provides financial protection for the policyholder’s family in the event of their death during the policy term.
Pension Plans
FarEast Islami Life Insurance’s pension plans are designed to help customers save for their retirement. These plans offer a regular income stream to the policyholder during their retirement years, and may also include a death benefit for the beneficiary.
The premium payments made by the policyholder are invested in a pension fund, which is managed by the company’s experienced investment team. The pension fund is designed to generate long-term returns and grow the policyholder’s savings over time.
Customers can choose from a range of pension plans based on their individual needs and financial goals. These plans offer flexibility in terms of the premium payments, retirement age, and income options.
Benefits of Endowment and Pension Plans
Endowment and pension plans offer several benefits to customers, including:
Financial security: Endowment plans provide customers with a lump sum payment at the end of the policy term, which can be used for a range of purposes. Pension plans provide customers with a regular income stream during their retirement years, which helps ensure financial security.
Life insurance coverage: Endowment plans and pension plans both offer life insurance coverage, which provides financial protection for the policyholder’s family in the event of their death during the policy term.
Tax benefits: Premium payments made towards endowment and pension plans are eligible for tax benefits under Section 10 of the Income Tax Act of Bangladesh.
Flexibility: Endowment and pension plans offer flexibility in terms of premium payments, retirement age, and income options. Customers can choose a plan that best suits their individual needs and financial goals.
Investment growth: Premium payments made towards endowment and pension plans are invested in a pension fund, which is managed by the company’s experienced investment team. This helps grow the policyholder’s savings over time and generate long-term returns.
Conclusion
FarEast Islami Life Insurance’s endowment and pension plans offer customers a range of benefits, including financial security, life insurance coverage, tax benefits, flexibility, and investment growth. These plans are designed to help customers save for their future and achieve financial security during their retirement years.
If you are in Bangladesh and looking for a reliable and trustworthy life insurance provider, FarEast Islami Life Insurance’s endowment and pension plans are definitely worth considering. With its range of products and services, commitment to customer service, and dedication to corporate social responsibility, the company is well-positioned to meet the needs of its customers and make a positive impact in the community.
