Guardian Life Insurance Limited launched a new product name ‘Guardian Shield’ on Sunday marking the ‘National Insurance Day-2021’ with its aim of ‘Insurance for All’ in Bangladesh.
The life insurance plan ‘Guardian Shield’ will offer life coverage at very nominal prices so that the financial future of the policyholder’s family may be protected, said officials at the product inauguration ceremony held at Guardian Life’s Head Office in the capital.
This product has been designed especially for traditional customer segments who prefer face-to-face purchase via company associates, and the policy is very easy to avail as it offers much lower premium rates compared to endowment insurance products, they added.
Guardian Shield customers can avail life coverage of Tk 100,000 for as low as Tk 203 taka per year (maximum coverage of Tk 10 million), hospitalisation coverage of Tk 50,000 for as low as Tk 1500 per year (maximum Tk 0.5 million) and critical illness coverage of Tk 50 thousand for as low as Tk 31 per year - maximum 50 per cent of sum assured or Tk 1 million, whichever is lower.
This plan offers yearly and single premium payment options, according to a media release.
“Guardian Shield is an unique product that is aimed at people who want only life coverage and rider benefits like hospitalisation & critical illness coverage from their insurance product. It is really inexpensive and doesn’t require heavy financial commitment unlike the regular endowment products. Such term products are highly popular at other south-east Asian, European countries and other advanced markets. It is one of our signature projects and our precious tribute to the upcoming 2nd National Insurance Day – 1st March 2021”, said Sheikh Rakibul Karim, FCA, Acting CEO, Guardian Life Insurance Limited during the official launch of ‘Guardian Shield’.
Shamim Ahmed, EVP & Chief Operating Officer; Mohammad Masuduzzaman Khan, EVP and Head of Underwriting & Policy Servicing Department and Rubayat Saleheen, SVP & Head of Marketing & Communication Department of Guardian Life Insurance Limited were also present, among others, at the inauguration programme.