Top 10 life insurance company in Bangladesh
If the policyholder passes away, the insurance company provides a lump-sum payment to the beneficiaries, helping them manage living expenses, debts, or other financial obligations. Life insurance also helps in planning for long-term goals like children’s education, marriage or buying a house.
Many policies – such as endowment, money-back, or ULIP – combine life coverage with a savings or investment component, allowing you to build a financial corpus that you receive if you survive the policy term. Additionally, premiums paid for life insurance in Bangladesh may be eligible for tax deduction, and death or maturity benefits often receive favorable tax treatment.
Top 10 life insurance company in Bangladesh
| SL | Company in Bangladesh |
| 1. | MetLife Bangladesh |
| 2. | National Life Insurance Company Ltd. |
| 3. | Delta Life Insurance Company Ltd. |
| 4. | Guardian Life Insurance Ltd |
| 5. | Pragati Life Insurance Ltd |
| 6. | Popular Life Insurance Company Ltd |
| 7. | Meghna Life Insurance Company Ltd |
| 8. | Fareast Islami Life Insurance Company Ltd. |
| 9. | Padma Islami Life Insurance Company Ltd. |
| 10. | Sandhani Life Insurance Company Ltd |
MetLife Bangladesh
MetLife Bangladesh provides a variety of life insurance options aimed at ensuring financial stability and tranquility:
- Term Life Insurance – Provides coverage for a specified time frame, with the death benefit distributed to named beneficiaries if the insured dies within that period.
- Whole Life Insurance – Provides continuous coverage throughout a person’s life and also includes the benefit of building cash value over time.
- Endowment plans – combine life insurance with a savings aspect, providing a lump sum amount after a specified period or on the death of the policyholder.
- Education Protection Schemes – Guarantees financial resources for children’s educational needs, safeguarding their future in education.
- Retirement plans – help individuals prepare financially for retirement, ensuring consistent income during their later years.
- Takaful plans – act as a form of Shariah-compliant insurance, catering to customers looking for Islamic insurance options.
National Life Insurance Company Ltd.
National Life Insurance Company Limited stands as a leading life insurance firm in the private sector of Bangladesh. Established in 1985, the organization has experienced significant expansion over the past forty years, offering a wide range of life insurance options to meet the diverse needs, choices and beliefs of its customers.
- Individual Life Insurance – Includes endowment, anticipated endowment, five-payment endowment, double protection endowment, and pension plans.
- Child Protection Plans – Assurance cum pension and child education security plans to secure a child’s future.
- Group Life Insurance – Customized plans for organizations and institutions to protect employees.
- Islamic Takaful – Shariah-compliant insurance solutions for customers seeking Islamic insurance.
- Personal Accidental Insurance – Provides coverage for accidental injuries and accidental death.
- Janabima – Specialized plans catering to the unique needs of specific communities.
National Life Insurance – Financial Highlights
- Claim Payments: Over BDT 11,668 crore
- Claim Success Rate: 98%
- Quality Security Rate: 98%
- Employees: Around 4,606
- Life Fund: Exceeds BDT 6,198 crore
- Customer Satisfaction Rate: 94%
- Revenue (2023): BDT 22.41 billion
- Net Income (2023): BDT 5.42 billion
Delta Life Insurance Company Ltd.
Delta Life Insurance Company Limited stands as a leading private life insurance provider in Bangladesh, established on December 17, 1986. It was the country’s pioneer in introducing micro-insurance with its Gono-Gramin Insurance initiative in 1988, which significantly increased insurance availability in rural communities.
Insurance Products
- Ordinary Life Insurance: Includes endowment, anticipated endowment, and pension plans
- Group Health Insurance: Health coverage for groups
- Overseas Mediclaim Policy: Insurance for individuals traveling abroad
- Gono-Grameen Bima: Micro-insurance scheme targeting rural populations
- Group Life Insurance: Coverage for employees of organizations
- Individual Life Insurance: Tailored plans for urban and suburban clients
Delta Life Insurance – Financial Highlights (2024)
- First Year Premium: BDT 182.11 crore
- Group Life Insurance Premium: BDT 39.72 crore
- Group Health Insurance Premium: BDT 38.00 crore
- Gross Premium: BDT 948.31 crore
- Renewal Premium: BDT 688.48 crore
- Investment & Other Income: BDT 351.66 crore
Guardian Life Insurance Ltd
Guardian Life Insurance Limited began its activities on January 1, 2014, dedicated to delivering reliable and creative insurance options for the citizens of Bangladesh. The organization is based in Dhaka and has gained significant foothold in the insurance sector.
Insurance Products
- Term Life Insurance: Provides financial protection for a specified period.
- Endowment Plans: Combines life coverage with a savings plan.
- Pension Plans: Ensures a steady income post-retirement.
- Health Insurance: Covers medical expenses for policyholders.
- Whole Life Insurance: Offers lifelong coverage with an investment component.
- Child Education Plans: Secures funds for children’s education.
- Islamic Takaful Plans: Shariah-compliant insurance solutions.
Financial Highlights (2024)
By the end of December 2024, Guardian Life Insurance Limited announced a remarkable achievement, with operating income exceeding $2.4 billion, setting a new peak for the organization. Additionally, it retained capital of over $11 billion, driven by strong investment yields, effective underwriting practices and careful management of expenditures.
Popular Life Insurance Company Ltd
Popular Life Insurance Company Ltd. is a well-known private life insurance provider in Bangladesh, established in the year 2000 and listed on the stock exchange since 2005. The organization offers a wide selection of life insurance offerings, such as endowment policies, retirement plans, educational plans for children, Hajj insurance and products aimed at micro-insurance.
Product Portfolio
- Endowment Plans: Traditional savings and protection plans.
- Pension Plans: Retirement-focused financial security.
- Child Education Plans: Securing funds for children’s education.
- Hajj Bima: Insurance coverage for Hajj pilgrims.
- Micro-Insurance Products: Affordable coverage options for low-income individuals.
- Double Payment Single Premium Policy: Unique policy offering dual benefits.
- Mohorana Bima: Insurance coverage for marriage-related expenses.
- Biennial Plans: Insurance plans with a two-year payment structure.
Financial Highlights (2022)
- Premium Income: BDT 675.74 million
- Life Fund: BDT 1,685.27 million
- Total Assets: BDT 2,254.37 million
- Investments: BDT 1,662.88 million
- Credit Rating: AAA (long-term)
