Group Insurance Deal Signed Between AIUB and Protective Life Insurance

The American International University-Bangladesh (AIUB) has formally signed a group insurance agreement with the Protective Islami Life Insurance, marking a new collaborative arrangement intended to extend insurance-linked benefits to members of the university community. The agreement establishes a structured framework through which policyholders associated with AIUB will be able to access a range of healthcare and insurance services.

Under this arrangement, eligible AIUB policyholders will receive multiple forms of coverage and support services provided by Protective Islami Life Insurance. These include hospital cashback facilities, discounts on diagnostic tests, as well as life insurance coverage and accident insurance benefits. The agreement is designed to integrate financial protection mechanisms with healthcare-related services, thereby offering broader support to the university’s stakeholders.

The coverage is intended to be applicable to a wide segment of the institution, including students, academic staff, and administrative employees. By introducing such a group insurance scheme, the arrangement seeks to reduce out-of-pocket healthcare expenses while ensuring access to defined financial safeguards in the event of medical needs or accidents.

The signing ceremony was attended by senior representatives from both organisations. From AIUB, the event included the participation of Professor Dr Tajul Islam, Professor Dr Md Abdur Rahman, and Md Khondaker Sabbir Kabir. Representing Protective Islami Life Insurance were Dr Kishore Biswas and Md Shahidul Islam, alongside other senior officials from both institutions.

The agreement reflects ongoing efforts within the higher education sector in Bangladesh to establish partnerships with financial and insurance service providers. Such collaborations are generally aimed at strengthening welfare support systems for institutional members through structured insurance coverage and related benefits. In this case, the focus is on combining healthcare-related financial relief with insurance protection within an academic environment.

Overview of the Agreement

The agreement establishes a formalised system through which insurance services will be extended to members of AIUB, reinforcing institutional efforts to support the welfare and financial security of its community through structured insurance coverage.