Assignment on Products and Services of ALICO

American Life Insurance Company (ALICO) is a renowned insurance service provider not only in our country but also several countries all over the world. Throughout the history, it has continuously sought to nurture talent, respect local cultures and promote the diversity that characterizes the Bangladeshi society. ALICO has grown by understanding the needs at the heart of the community and by tailoring extensive product offering to the unique needs of individuals, families and businesses of all sizes.
From the beginning of our country, this company is providing its services for the inhabitants of Bangladesh. We see the several types of insurance as the product of ALICO. Though we notice the term life insurance in its name, we also see insurance services like education project plan, pension and retirement insurance, DPS, lifetime income policy, medical and health care insurance etc. Most of the time people are not well known about the policies or insurances.

This study paper is consisted of the elaborated information about the wide range of services and products of ALICO in our country as an international life insurance company.

As we know, ALICO is a very famous life insurance company; it has a wide range of services. But a very common phenomenon is that people are not well known or they have no idea about the elaborated programs. Even there is no any study of it’s services and products or about the insurance holder’s satisfaction of ALICO clients. This study paper is the result of an academic course requirement of the course - Principles of Insurance and Risk Management and we have tried to include all the aforementioned matters in this paper.

American Life Insurance Company (Alico Bangladesh) started full service branch operations in Bangladesh on 15 January 1974 and has since then been marketing individual and group life insurance products under the Insurance Act 1938, Insurance Rules 1958, and other applicable laws. Alico, incorporated in 1921 in Wilmington, Delaware, USA, is the largest international life insurance Company in the world. It is a member company of the American International Group (AIG) that operates life insurance businesses in more than 135 countries. American Life Insurance Company Bangladesh (referred to as the company hereafter) runs its business through its agency offices scattered mostly in big cities such as dhaka (43), chittagong (9) and khulna (3). Over 2700 career agents are working for the company. The company has a trained and dedicated work force of 223 employees in Bangladesh.