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JS / Personal / Wealth Management / Bancassurance / Mehfooz Sarmaya

Mehfooz Sarmaya Plan

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What you need to know


Minimum Premium
A minimum annual premium amount of Rs. 50,000 is required

Eligibility
Available to individuals from 18 years of age or above

Unit Allocation
100% of the Original
Single Premium is allocated to purchase units in the selected fund

Fund Selection Option

Contribution paid towards the plan is invested in an internal investment fund of EFU Life. Pick whichever fund you want based on your needs and risk tolerance from the following two:

  • EFU Managed Growth Fund
  • EFU Guaranteed Growth Fund

Fund Acceleration Premium
100% of the Fund Acceleration Premium is allocated to purchase units in the selected fund.

Benefits

The longer the terms of the plan, the higher the rewards.1
In case of accidental death of plan holder before the age of 60, an additional lump sum benefit will be paid. The amount of payout is equal to Original Single Premium adjusted for partial withdrawals. This benefit amount will be in addition to the Death Benefit.
In case of demise of the plan holder, the amount payable is:
  • For ages 18 to 60 years at entry, the Sum Assured can range from 1.25 times to 2 times of the Original Single Premium.
  • For ages greater than 60 years, the Sum Assured will be 101% of the Original Single Premium.

Policy YearExtra Unit Allocation
5 2%
10 3%
15 & every 5 years thereafter 4%

2. Death Benefit:
For Ages 18-59 years:

Death Benefit up to age 70 years is equal to:

- The greater of the Basic Sum Assured (adjusted for partial surrenders), or Basic Cash Values of the plan PLUS The Cash value of the units applicable to FAP (If any). Death Benefit after 70 years of age will be Total Cash Value.

For Ages 60 – 65 years:

Death Benefit up to age 5 policy years is equal to:

  • - The greater of the Basic Sum Assured (adjusted for partial surrenders), or Basic Cash Values of the plan PLUS The Cash value of the units applicable to FAP (If any).
  • - Death benefit after 5 policy years of will be Total Cash Value.

For Ages above 65 years:

- Death benefit will be the greater of the Cash Value and 101% of Original Single premium. On each partial surrender, for the purpose of calculating benefits as defined above, the original single premium will be reduced by the same proportion as the Cash Value surrendered.

Disclaimer:

  • This product is underwritten by EFU Life Assurance Ltd. It is not guaranteed or insured by JS Bank Limited or its affiliates and is not a JS Bank Limited product.
  • The contribution in the plan is invested in any one of the mentioned growth fund as chosen by the policyholder.
  • The past performance of the fund is not necessarily a guide to future performance. Any forecast made is not necessarily indicative of future or likely performance of the funds and neither EFU Life Assurance Ltd nor JS Bank Limited will incur any liability for the same.
  • Service charges and taxes will be applicable as per the bank’s "Schedule of Charges" and taxation laws as stipulated by the relevant authorities.
  • A description of how the contract works is given in the policy provisions and conditions. This product brochure only gives a general outline of the product features and benefits.
  • JS Bank Limited reserves the right to levy such additional charges(s) as may be required, to facilitate the making of contribution in the plan, in the event that the arrangement between JS Bank Limited and EFU Life Assurance Limited is discontinued.