Deposit Pension Scheme (DPS-Monthly Savings Plan)

Deposit Pension Scheme (DPS-Monthly Savings Plan)

The Deposit Pension Scheme (DPS), also known as the Monthly Savings Plan, is an insurance-backed savings product designed for low- and middle-income families across Bangladesh who want a disciplined, affordable way to build financial security.

Unlike a bank DPS — which offers savings but no life cover — this scheme combines monthly savings with life insurance protection. Premiums start as low as Tk. 100 per month and are deposited on a monthly basis over a term of 10 to 25 years. At maturity, the full sum assured is paid out along with all accrued bonuses. If the policyholder passes away during the term, the nominee receives the full sum assured plus bonuses calculated to the year of death.

Available through GoodHope Insure, Bangladesh's first digital insurance platform, the DPS can be quoted and applied for entirely online — with providers Protective Islami Life Insurance Ltd. and Astha Life Insurance.

Why Choose This Plan

Most savings instruments in Bangladesh — FDRs, bank DPS accounts — provide no protection for your family if you die before the term ends. This scheme changes that. You save monthly, your family is protected, and at maturity you receive a return on your savings.

• Affordable monthly premiums:starting at Tk. 100/month — suitable for low-income households and first-time insurance buyers.

• Life cover included:Nominee receives full sum assured plus bonuses on the policyholder's death during the term.

• Long-term savings discipline:Available terms from 10 to 25 years help you systematically build a corpus for retirement, children's education, or any major milestone.

• Tax benefits:Premiums qualify for income tax rebate; death claims are tax-free.

• Digital access:Apply, check status, and manage your policy online through GoodHope's platform.

Who Should Buy This Plan

• Individuals from low- or middle-income families looking for their first life insurance product.
• Working professionals who want a disciplined monthly savings mechanism with built-in life cover.
• Parents planning for a child's future who prefer monthly contributions over large annual premiums.
• Self-employed individuals without employer-provided pension or provident fund benefits.

Frequently Asked Questions

What is the Deposit Pension Scheme (DPS) insurance plan in Bangladesh?

The Deposit Pension Scheme (DPS) offered through GoodHope Insure is a monthly savings insurance plan where policyholders deposit a fixed monthly premium and receive the full sum assured plus accrued bonuses at the end of the policy term. Unlike a bank DPS, it also provides life insurance coverage — if the policyholder dies during the term, the nominee receives the full sum assured and bonuses immediately.

How is this DPS different from a bank DPS account?

A bank DPS gives you savings with interest but no life insurance protection. GoodHope's Deposit Pension Scheme gives you both: your monthly savings build a corpus, and your family is protected by a full sum assured if you die before maturity. It is regulated by IDRA (Insurance Development and Regulatory Authority), not the central bank.

What is the minimum premium for the Monthly Savings Plan?

The minimum monthly premium is Tk. 100. This makes it one of the most affordable insurance products for families in Bangladesh who are starting their financial protection journey.

What happens if I miss a monthly premium payment?

The specific grace period and lapse rules are governed by the underwriting insurance company (Protective Islami Life Insurance Ltd. or Astha Life Insurance). GoodHope recommends contacting our support team at +8801711025165 for guidance if you are unable to make a payment in time.

How long can I take this policy for?

The DPS Monthly Savings Plan is available for terms of 10 to 25 years. You should choose a term that aligns with your savings goal — for example, a 15-year term to build a corpus for a child's university education, or a 20-year term for retirement planning.

Is the DPS savings plan IDRA approved?

Yes. GoodHope Insure operates under IDRA (Insurance Development and Regulatory Authority) approval, and all insurance products on the platform are underwritten by IDRA-licensed companies.