Guardian Life launches the first Key Person Insurance “Guardian Key Person Insurance Plan” in Bangladesh:

Posted on: 13 Jan, 2022
Guardian Life launches the first Key Person Insurance “Guardian Key Person Insurance Plan” in Bangladesh:

Guardian Life has recently launched the country's first Key Person Insurance, a B2B life insurance solution aimed towards helping business organizations to ensure sustainability by insuring the key personnel of the business.

Since inception, Guardian Life strives to bring about revolution in insurance industry by marking a positive difference in people's lives through innovative products and customer centric services across all domains. "Guardian Key Person Insurance Plan" is another testament to that revolution. Though new in Bangladesh, Key Person Insurance is a widely popular concept across developed parts of the world with vibrant economies. Guardian Life believes that “Guardian Key Person Insurance Plan” will be a game-changing solution for corporate organizations in terms of long-term protection of their key persons and overall organizational sustainability.

Businesses flourish and grow with the Midas touch of the corporate maestro’s/key persons. Losing such corporate masterminds due to sudden death or disability may translate into irrecoverable losses for the businesses and usually such key persons are irreplaceable which aggravates the situation further. Key Person Insurance policy has been designed to step-in at such times of dire consequences and protect the company’s financial future by paying out pre-determined sum assured so that the company may smoothly manage the transition. Generally, the Sum Assured will be paid out to the company upon death or Total & Permanent Disability (TPD) of the Key Person(s), the company has the discretion to provide portion of the payout to the Key Person’s Family for their financial protection. A premium health insurance plan may also be availed as a rider benefit with this plan for the well-being of the Key Person.

“Guardian Key Person Insurance Plan” was recently launched at a press conference held at Guardian Life Head Office, Police Plaza Concord, Gulshan, Dhaka where Mr. Sheikh Rakibul Karim, FCA, Acting CEO of Guardian Life chaired the program. Other senior management team members also presided over the event including Mahmudur Rahman Khan, SEVP & Head of Retail Business; Shamim Ahmed, EVP & Chief Operating Officer; Tahsinur Rahim, EVP & Head of Internal Audit & Compliance; Mohammad Masuduzzaman Khan, EVP & Head of Underwriting & Policy Servicing Department; Mahmud Afsar Ibne Hossain, EVP & Head of Group Business, Rubayat Saleheen, SVP & Head of Marketing & Communication and Shamima Afroze, SVP & Head of Actuary.