Fareast Islami Life Insurance Co. Ltd. is the first life insurance company in Bangladesh corporated on Islamic principles and shariah rules. It has adopted a holistic approach in doing business. Company was incorporated in the year 2000 and since then due to its decentralization business policy and strong team has gained trust and confidence of the people in Bangladesh.
Company has developed strong infrastructure over a period of time and opened 1012 offices out of which 38 offices are equipped with all services, 112 Zonal offices and 10 Divisional offices spread all over the country.
Company has set a vision of being the premium islami life insurance company to serve the customer with best possible solution for their requirements. Company aims to fulfill its social responsibility and adopt a holistic approach in doing the business and to play an important role in the economic development of the country. It aims to raise the service level to a new height by delivering prompt and quick services to its clients.
It is company’s mission to provide better solution with total financial security along with best returns so as to increase the hard earned investment of its clients. It aims to do islamization of economic activities in the country by adopting shariah principles. FILICL’s objective is to maintain trust and confidence of stakeholders with its fully transparent operations and to create awareness for Islami life insurance.
Company’s business revolves around 5 core values i.e. ISLAM
- Integrity
- Solidarity
- Lawful
- Adle and Ehsan
- Mutual Benefit
Product portfolio of company is divided broadly into three categories
- Ordinary Life (Ekok Bima)
- Group Insurance
- Micro Insurance
Its entire plan falls under these three categories. They are
Ordinary Life Plans (Ekok Bima)
- Endowment Insurance Plan (With Profit)
- Pension Plan (Without Profit)
- Haj Bima (With Profit)
- Four Payment Endowment Insurance Plan (With Profit)
- Denmohar Bema (With Profit)
- Three Payment Insurance Plan (with Profit)
- Single Premium Insurance Plan (Without Profit)
- Child Protection Plan (With Profit)
- Fareast Deposit Pension Scheme (With Profit)
- Islami Money back plan (Without profit)
- Islami Endowment Plan With Profit
- Child Education and Marriage Insurance (With Profit)
- Joint Life Insurance
- Two and Five Payment Anticipated Insurance (With Profit)
Group Insurances
- Group Insurance
- Group Endowment Insurance
- Group Variable Endowment Insurance
Micro Insurance (Sharbojanin Bima)
- Monthly Savings Plan (With Profit)
- Single Premium Plan (Without Profit)
- Fareast Deposit Pension Scheme
- Islami Endowment Insurance (FDPS)
- Denmohor Insurance (With profit)
- Hajj Insurance (With Profit)
- Child Education and Marriage Insurance (With Profit)
- Joint Life Insurance (With Profit)
Company has earned a net premium of Tk. 707.46 crore in the year 2012. It’s the highest amount earned by any Life Insurance Company in that year. The life fund was increased from Taka 1,648.65 crore to Taka 2,080.42 crore which shows a sound financial show. Company was awarded “Century International Quality ERA” award in gold category recently in view of its consistent quality and maintaining high standards. Company with its strategy of achieving growth within the boundary of Trust, Integrity, Better Governance, and complying all the legal and regulatory framework of the country has an mission to perform better day by day and do the business by the way shown in shariah!!
Fareast Islami Life Insurance Co. Ltd. enlisted in Dhaka Stock Exchange in 2005. It’s been rated as “A” category share under the Insurance Sector as on 03-11-2014
Contact Information of Fareast Islami Life Insurance Co. Ltd.
Address: T K Bhaban(13th floor), 13 Kawran Bazar, Dhaka-1215
Contact Phone: 8150127-31
E-mail: [email protected]
Web Address: www.fareastislamilife.com
Thanks for information.