Is It That Important to Have Insurance?

Insurance is crucial for financial protection against unforeseen events like accidents, health issues, or property damage, shielding individuals and businesses from significant financial losses. Life insurance in Bangladesh also aids in managing risks effectively by transferring them to insurance companies, fulfilling legal requirements, and providing peace of mind knowing that one is covered.

 How Insurance Works

Wondering how insurance policy in Bangladesh works? The policyholder pays a regular amount, called premium, in order to receive the coverage. These premiums are based on factors, such as age, gender, medical history, and the value amount of life insurance you purchase.

After understanding the importance of insurance and how it works, we want to get you through the next step before choosing the best life insurance in Bangladesh and types of policy that suits you: assessing what you and your family need.

Evaluating Personal or Family Needs

The first thing you want to assess is your current financial situation. When you look at your money situation now, think about what you own, what you owe, and how much money you make and spend. This will help you figure out how much insurance you should get for unexpected situations.

The second step is to assess the amount of coverage you need based on your marital and financial status. Whether you are single with a mortgage, or married with children, each situation requires a different level of coverage.

The other important thing you need to know is the best time to get insurance. It's wise to get insurance when you're young and healthy because typically, Bangladesh life insurance offers lower premium costs compared to when you're older. Starting now guarantees you'll pay the least amount for premiums.

Already thinking about getting life insurance in Bangladesh? In MetLife Bangladesh, we offer different types of insurance policy catering to your needs.

1. Education

This policy is best suited for those who want to financially protect their children’s future with the assurance of ensuring higher education, while safeguarding them from the uncertainties of life.

2. Savings & Investments

Our savings and investment plans are suitable for those who want to live their desired lifestyle today, while planning their future and a secured tomorrow, thanks to attractive return on premiums and guaranteed maturity value.

3. Health & Protection

From MediCare during hospitalization to insurance for critical illnesses, MetLife’s wide range of health protections is for those who want to provide the best medical treatment for their loved ones without affecting their finances.

4. Retirement

With MetLife, you can independently plan your retirement without relying on anyone financially. Our retirement plans will assist you in building a stable income for your retirement years.

5. Takaful

For you who want an insurance that aligned with Islamic law and Shariah guidelines, Takaful is the answer. The products include Takaful DPS and Hajj & Umrah Plan.

Every insurance policy in Bangladesh that is provided by MetLife also comes with access to One by MetLife app, an end-to-end health solution that provides all-in-all health cover to help our customers live a better and healthier life. Learn more about the app here.

 Things You May Need to Do Next

1. Create a comparison between products, including premiums, deductibles, coverage limits, exclusions, and additional benefits.

2. Understand the Terms & Conditions thoroughly, as insurance products contain many important details.

3. Look for flexibility to add riders or change beneficiaries and ensure affordability to avoid financial strain while ensuring adequate protection.

4. Seek professional advice from an insurance advisor or financial planner for `deeper insights. You can also contact the MetLife Contact Centre, where we can assist you in connecting with our reliable Financial Associates.