Child Education Protection Plan

Child Education Protection Plan

Every parent's greatest fear is not being there when their child needs them most — especially when it comes to education. The Child Education Protection Plan, available through GoodHope Insure and underwritten by Protective Islami Life Insurance Ltd. and Astha Life Insurance, is designed specifically to remove that fear.

This plan covers both the premium-paying parent and the insured child simultaneously. If either the parent or child passes away during the policy term, benefits are paid according to clearly defined rules — without the family needing to continue paying premiums. At maturity, if both parent and child survive the full term, the complete sum assured plus all accrued bonuses is paid out.

It is one of the few life insurance plans in Bangladesh that keeps the child financially protected even after the death of the insured parent, through a monthly stipend of 1% of the sum assured paid until the policy term ends.

GoodHope Insure is Bangladesh's first digital insurance platform, licensed by IDRA (Insurance Development and Regulatory Authority), making it easy to get a quotation, compare providers, and apply entirely online.

Features of Child Protection Assurane Plan:

Why Choose This Plan

Parents in Bangladesh face a distinctive challenge: the cost of quality education — from school fees to university admission — has risen sharply over the last decade, while household income can be disrupted without warning. A traditional savings account provides no protection if the earning parent dies. A Child Education Protection Plan bridges this gap by combining savings, life insurance, and a built-in education safety net in one policy.

Key reasons families choose this plan through GoodHope:

• Dual coverage:

  Both the premium payor (parent) and the child are insured under a single policy.

• No-premium-but-benefits continue:

  If the insured parent dies, premiums stop immediately but the child still receives a monthly stipend of 1% of the sum assured until the policy matures — then receives the full sum assured plus bonuses.

• Flexible terms:

  Choose a policy term from 10 to 20 years, aligning payouts to school-leaving age, university entry, or graduation.

• Low entry point:

  Coverage starts from a minimum sum assured of just Tk. 30,000, making it accessible across income levels.

• Tax rebate:

  Premiums paid qualify for an income tax rebate under Bangladesh's Income Tax Ordinance. Death claims are fully tax-free.

• Digital convenience:

  Get an instant quotation and apply through GoodHope's online platform — no agent visit required.

Who Should Buy This Plan

• This plan is best suited for:

  • Fathers or working mothers aged 20–55 who want to protect their children's education from financial disruption.

  • Parents with children between 6 months and 15 years old at the time of policy commencement.

  • Families who want a single policy that covers both parent and child without buying separate plans.

  • Parents who want to align the policy maturity date with their child's expected university admission year.

• This plan is NOT suitable for:

  • Individuals without dependant children.

  • Those already above age 55 at the time of application (policyholder) or children above 15 years old (insured child).

Frequently Asked Questions

What is the Child Education Protection Plan in Bangladesh?

The Child Education Protection Plan is a life insurance policy available in Bangladesh that protects a child's education funding in the event of a parent's death. It is issued by providers such as Protective Islami Life Insurance Ltd. and available through GoodHope Insure's digital platform. Both the parent (premium payor) and child are insured under the same policy.

What happens if the insured parent dies before the policy matures?

If the parent who pays premiums dies during the policy term, no further premiums are required. The child's nominee receives a monthly stipend equal to 1% of the sum assured until the policy end date. At maturity, the full sum assured plus all accrued bonuses is paid out.

Can a mother take this policy for her child?

Yes. If the father is not alive, the mother can be the premium payor. The policyholder must be either the father or a working, educated mother.

What is the minimum coverage amount?

The minimum sum assured is Tk. 30,000. Coverage amounts up to Tk. 10 Lac and beyond are available depending on the provider and the policyholder's age and income.

Are the premiums tax-deductible in Bangladesh?

Yes. Premium payments made under this policy qualify for an income tax rebate under Bangladesh's Income Tax Ordinance. Death claim payouts are fully tax-free, and a 5% tax is deducted from net maturity profits at the time of payout.

How do I get a quotation for the Child Education Protection Plan online?

Visit GoodHope Insure's Child Education Protection Plan page, select your coverage amount, policy term, date of birth, and preferred provider, then click "View Quotation." You'll receive a personalized premium estimate instantly without needing to visit a branch.

What if both the parent and child die during the policy term?

If both the insured parent and the insured child pass away during the policy term, stipend payments stop immediately. The sum assured plus all accrued bonuses is paid to the nominee(s) after the original maturity date.