In Bangladesh, the life insurance market is growing, and several types of life insurance products are becoming increasingly popular. Here are some of the most popular life insurance products in the country: Endowment Plans: These are combination products that provide life coverage and also offer savings. They pay out a lump sum either on the policyholder’s death or on reaching the maturity age, which makes them popular among individuals looking for both insurance and savings. Term Life Insurance:

A basic life insurance plan that provides coverage for a specific term. If the insured person dies during the term, the nominee receives a death benefit. These policies are generally affordable and are designed for individuals looking for pure protection. Whole Life Insurance: This type of policy provides lifelong coverage with the payment of death benefits to the nominee. Whole life insurance often has a savings component that accumulates a cash value over time. Unit-Linked Insurance Plans (ULIPs): ULIPs are a combination of insurance and investment.

Part of the premium goes toward providing insurance coverage, and the other part is invested in various funds. These products are attractive to people who want to combine insurance protection with investment opportunities. Children’s Plans: These plans are designed to provide financial security for a child’s future education, marriage, or other major life events. They are often endowment or ULIP-based, with the added benefit of life coverage. Pension Plans: Pension or retirement plans help individuals save for retirement while also providing life coverage. These plans accumulate funds over time, which are then converted into a regular income after retirement.

Health-Linked Life Insurance: Many life insurance products in Bangladesh are linked to health benefits, such as critical illness cover or hospital cash benefits. These plans are becoming increasingly popular due to the growing awareness of healthcare costs. Group Life Insurance: This product is offered by employers to employees as a benefit, providing life coverage for a group of people. It’s cost-effective and provides a basic level of protection to employees. These life insurance products reflect the growing awareness of the importance of financial security and the

increasing preference for long-term planning in Bangladesh.In Bangladesh, life insurance products are gaining popularity, with several plans standing out among policyholders: 1. Endowment Policies: These plans combine life coverage with a savings component, offering financial security to beneficiaries upon the policyholder’s death and providing a lump sum at maturity. They are particularly favored for their fixed returns and dual benefits. THE

DAILY STAR 2. Education and Savings Plans: Tailored to meet the educational expenses of children, these plans help parents accumulate funds for their children’s higher education. They also serve as effective savings instruments, combining investment growth with life coverage. THE DAILY STAR 3. Deposit Pension Schemes: These schemes offer policyholders a lump sum payment at the end of the policy term, serving as a form of retirement savings. They are designed to provide financial security during retirement years. THE DAILY STAR 4. Term Life Insurance: Providing coverage for a specified period, term life insurance is appreciated for its affordability and straightforward structure. It offers financial protection to beneficiaries if the policyholder passes away during the policy term. THE DAILY STAR 5. Micro Insurance Products: These are designed to cater to the needs of low-income individuals,

offering affordable life coverage and savings options. They aim to provide financial protection to a broader segment of the population. POPULAR LIFE INS The popularity of these products is driven by their ability to address specific financial needs, such as education funding, retirement planning, and providing financial security to families. Insurance companies like MetLife Bangladesh, Pragati Life Insurance, and National Life Insurance Company offer these plans, reflecting the growing demand for comprehensive life insurance solutions in the country.