GLIL always tries to challenge the status quo and introduce new business models. Leading the industry with paradigm shift is what GLIL is known for. Being the “best group insurer” and pioneer of “financial inclusion” through microinsurance has made GLIL already a rather well reputed Life Insurance brand in the country. It is the fastest growing life Insurance Company of Bangladesh covering over 5 million lives under micro insurance.
We had started our piloting project of Guardian BRAC BIMA (GBB) with BRAC in June’15 (piloting in 92 branches of BRAC). After successful completion of our 1.5 years’ pilot project, as of this January’2017, Guardian Life Insurance Limited, in partnership with BRAC, joined the market making its Credit Shield Insurance product available nationwide to a further 5 million of BRAC’s clients across the country.
The service legal agreement (SLA) signing ceremony of BRAC and Guardian Life Insurance Limited was held at BRAC Centre on 12 January 2017. BRAC’s founder and chairperson, Sir Fazle Hasan Abed; executive director, Dr Mohammad Musa; senior director, Asif Saleh; director of microfinance and ultra poor programmes, Shameran Abed; chief executive officer of Guardian Life Insurance Limited, M M Monirul Alam, and managing director of Square Pharmaceuticals Limited were present at the ceremony.
Clients can be helped in 3 ways.
Principal Loan Outstanding Amount prior to death irrespective of the number of loans will be waived within the coverage limit for all policy-holders.
Death benefit of BDT 10,000 for lower loan amount holders or BDT 20,000 for lower loan amount holders will be provided in situation of borrower / 2nd insured death. If policy provided to two different people from same household and they are covered by both policies then for both loans principal outstanding will be waived but death benefit will be provided by only one policy.
Clients’ savings with BRAC are reimbursed with full benefits to the family. And all these benefits come at a nominal, one time (per loan) premium.
How to Enroll under GBB Project-
How to Submit a Claim-
*To give a prompt service to BRAC, Guardian IT team has developed an option in its Web Portal where BRAC is able to send the claim documents by capturing photos through their SMART PHONE/TAB now.
We are working for long time basis to find out the new potential customers like NGO’s, Commercial Banks and NBFIs etc. We are ready to offer you various types of Micro-Insurance Products as per your requirements. If you are interested to involve with us, please contact with us (Micro Insurance Team-Guardian Head Office).