Frequently Asked Questions (FAQ)

Meghna Life Insurance PLC is a life insurance company established in June 1996 by a group of businessmen, industrialists, and insurance professionals. It is listed on both the Dhaka and Chittagong Stock Exchanges with a paid-up capital of 75 million BDT.

Meghna Life offers individual insurance, Islamic insurance (Takaful), group insurance, and special programs like Lok Bima and Islamic Micro Insurance for underprivileged populations.

The company aims to provide greater financial security through modern insurance services, transform life insurance into a profitable savings system, and invest public savings in nation-building projects.

This plan pays the insured amount along with earned profit either at the end of the specified term if the insured survives, or immediately upon death if it occurs before the term ends. It can be used for retirement, children's education, or business investment.

Partial payments during the insurance period. After 1/3 of term → 25%, after 2/3 → 25%, at maturity → 50% plus profit. Terms: 12, 15, 18, 21 years. Death before maturity → full sum assured + profit is paid.

Joint policy on lives of premium payer and child. If premium payer dies → no further premiums, child receives 1% monthly allowance until maturity, plus full sum with profit.

Provides a fixed pension from policy maturity until death. Retirement age: 50–60 years, minimum pension period: 10 years. Death before pension → nominee receives 10× annual pension.

Provides an Education Expense Scholarship for 5–15 years. Scholarship grows annually at 7% compound interest. Death of premium payer → Education Assistance Allowance until maturity.

Full sum assured if insured dies during the policy. If alive at maturity → all paid premiums refunded.

Helps save for Hajj/Umrah. Term: 5–15 years, minimum sum assured: 100,000 BDT. Pays sum assured plus accumulated bonuses at maturity or to nominee if death occurs.

One-time premium payment. Pays double sum assured if insured dies during term or survives until end. Term: 6–15 years.

Helps husbands save for wife’s dower. Policyholder must be male, wife is nominee. Sum assured plus bonuses paid at maturity or to nominee if death occurs.

Premiums can be paid annually, semi-annually, quarterly, or monthly (with conditions). A grace period of 30 days is allowed without late fees.

Annual payment → discount 2 BDT per 1,000; Half-yearly → discount 1 BDT; Monthly → multiply annual rate by 0.092.

Unpaid after 30-day grace → policy lapses. If policy has <2 years premiums, all paid premiums are forfeited.

Yes, but directly in favor of 'Meghna Life Insurance PLC'. Cheques via agents or officers are not accepted.

Pays sum assured if insured dies due to external accident within 90 days. Premium: 1.25 BDT per 1,000 for standard lives.

Financial support for permanent disability caused by accident. Pays according to schedule; monthly annuity of 10% for up to 10 years. Premium: 3.50 BDT per 1,000.

Pays 25% or 50% of sum assured if insured suffers one of 8 critical illnesses (heart attack, stroke, cancer, kidney failure, multiple sclerosis, paralysis, major organ transplant).

Covers domestic and abroad hospital costs: room, doctors, diagnostics, surgery, medicines. Claim-free bonus: 2.5% of annual premium.

ADB: 1,000,000 BDT up to 60 years; PDAB: 1,000,000 BDT up to 55 years; DDB: 500,000 BDT up to 65 years; HI: 500,000 BDT up to 60 years.

30 days after premium due date. Policy remains active; unpaid premiums deducted from claim if insured dies during grace period.

Yes, after cash surrender value is acquired. Up to 90% of surrender value; interest applies.

Available after 2 years of premiums. Cash can be received by surrendering the policy.

Within 5 years by paying outstanding premiums + 12% per annum late fee + medical requirements.

Publish loss in national newspaper. Submit indemnity bond on 150 BDT stamp paper. Provide insurance stamps + 10 BDT rewriting fee.

Depends on your age and the sum assured. Certain categories may not require medical exams if you submit appropriate certificates.

Tests may include FMR, CBC, FBS, GTT, ECG, chest X-ray, urine tests, etc.

No. Medical exams must be conducted by company-authorized doctors.

Yes. You can nominate one or more persons at policy issuance or anytime before maturity.

Yes. Nominations can be cancelled or changed anytime before policy maturity via endorsement or written notice.

Transfer ownership to another person via endorsement or signed instrument certified by at least one witness.

Women's insurance has specific categories based on education and income. Entry age: 40–45 years; maturity: 55–60 years. Medical requirements and sum assured limits vary.

Yes. The Single Premium Payment Plan (Plan No. 17) is suitable for Bangladeshi expatriates.

Micro-insurance for underprivileged populations who cannot afford regular premiums or secure their children's future due to daily financial struggles.

Yes. Premiums qualify for income tax relief as investment allowances. Insurance claim amounts are tax-free, whether received at maturity or due to death.

Bonus rates vary by plan and are declared based on actuarial valuations.

Exclusions include: suicide, self-inflicted injury, murder, declared/undeclared war, injuries during law violations or military duty, poison/gas exposure, and travel in non-commercial aircraft.

Exclusions include: pre-existing conditions, mental illness, alcohol/drug addiction, cosmetic surgery, abortion, suicide attempts, dental treatment, circumcision, kidney dialysis, tuberculosis, AIDS/HIV, and first pregnancy expenses.

Submit policy document along with relevant documents such as death certificate, post-mortem report (for accidental death), medical reports, and other claim forms as required.

Visit the Meghna Life Insurance website or contact your nearest branch.

Yes. Written request required for additions, removals, or address changes. Fee: 10 BDT for most changes (except address changes).