On March 1, 2000, Sunlife Insurance coverage Firm Restricted (SLICL), a third-generation life insurance coverage firm in Bangladesh, was established as a public restricted firm beneath the Corporations Act, 1994 as a way to conduct life insurance coverage enterprise within the nation. On the identical day, it acquired a certificates permitting it to begin doing enterprise. The founder chairman, Late Mr. Col. A. Maleque (PSC), a former mayor of the Dhaka Metropolis Company and a minister within the Individuals’s Republic of Bangladesh’s cupboard on the time, had aspirations to supply life insurance coverage and create employment alternatives for folks.
SLICL started operations with a paid-up capital of Tk. 30 million in opposition to a Tk. 200 million approved capital. A number of well-known enterprise folks within the nation who’re concerned in industries like oil refineries, banks, actual property, meals and beverage, electrical merchandise, brokerage companies, and aluminum extrusion are the sponsors of SLICL. On October 1st, 2012, the corporate launched its preliminary public providing (IPO). Revered Traders and Shareholders contributed BDT 7700 million as a subscription or 65 occasions greater than the share value of Taka 120 million.
SLICL gives a wide range of well-liked and alluring merchandise beneath each conventional and Islamic life insurance coverage insurance policies. The corporate started advertising and marketing micro insurance coverage (month-to-month premium paying) life insurance policies for peasants, small enterprise homeowners, fishermen, weavers, ironsmiths, carpenters, bricklayers, boatmen, rickshaw pullers, and different staff due to the numerous variety of lower-income folks in Bangladesh.
In SLICL, three predominant micro insurance coverage tasks—Ganamukhi Bima, Lokomukhi Bima, and Islami A’saan Bima—are presently in operation. The corporate receives substantial premium earnings and life funds from all of those tasks. There are three further initiatives that cope with conventional and distinctive merchandise, together with Skok, Islami Skok (Takaful), and Islami Adarsha. The city high-ended market is the main focus of those tasks.
The city high-end market is the main focus of those tasks. A bunch undertaking at SLICL focuses on the enterprise of universities, NGOs, MNOs, and different organizations.
Our major aim is to supply our prospects high-quality service. The enterprise makes an effort to offer our esteemed prospects with immediate providers when issuing coverage paperwork and paying demise and maturity claims.
Round 80 decentralized service facilities run by the corporate are situated in vital districts throughout the nation. There are roughly 700 districts and company places of work working beneath these facilities throughout the nation.
1100 salaried workplace workers and 12000 fee brokers handle these places of work.
Sunlife had 365,577 policyholders as of 2018’s finish. On-line updates about their insurance policies maintain our policyholders knowledgeable.
For higher efficiency and correct customer support, SLICL repeatedly gives skilled coaching to its workers.
The Sunlife Insurance coverage Firm household is assured that it will possibly obtain a exceptional place within the insurance coverage trade each domestically and internationally.
- Offering unequal service, safeguarding the pursuits of our policyholders, and serving to the corporate’s economic system keep steady.
- To uphold stakeholders’ pursuits via a simply and trustworthy operation.
- Imaginative and prescient
- To tackle the life dangers of the policyholders as a way to turn out to be a number one life insurance coverage firm with the suitable solemnity and company social accountability to uphold society.
- Guarantee the welfare and monetary development of the insured and their dependents.
- Help with monetary assist for the kids’s marriage and schooling.
- Decrease a wide range of wants and assure the welfare of the person and household.
- Nationwide socioeconomic enchancment and compelled nationwide financial savings.
- Creation of employment alternatives for educated jobless people.
Different occasions, resembling supplemental protection (PDAB, ADB, TP, CERP & HI, and many others.), might also lead to fee, relying on the contract. A premium is often paid by the policyholder, both frequently or all of sudden.
Life insurance coverage insurance policies are contracts with authorized standing, and their phrases define the scope of the insured occasions. To restrict the insurer’s legal responsibility, particular exclusions are ceaselessly spelled out within the contract. Typical examples embrace claims involving suicide, fraud, struggle, riot, and civil unrest.
Insurance coverage Plans
Firstly, why are you buying life insurance coverage? Within the occasion of your premature demise, life insurance coverage will primarily exchange your earnings. Then, your insurance coverage plan is supposed to “purchase” your dependents a while to make up for the misplaced earnings they have been beforehand reliant on you for.