Term plans are from 10 to 25 years
long. The longest savings term
selected has to be such that the
maximum age at the end of the plan
term is not more than 70 years.
- Annual – PKR 24,000 per annum
- Half Yearly -PKR 12,000 per half – year
- Quarterly- PKR 6,000 per quarter
- Monthly – PKR 2,000 per month
Every contribution paid towards the plan is invested in an internal investment fund of EFU Life based on your selection. The contributions are utilized to buy units of the fund at the prevailing offer price. The objective of the funds is to maximize capital growth by investing in a balanced portfolio spread across a wide range of investment opportunities. The fund is managed by investment experts who adjust the mix of the underlying investments in light of economic conditions and investment opportunities.
The longer the terms of the plan, the higher the rewards.2
Deposit any surplus funds as a lump sum contribution as Fund Acceleration Premium (FAP). The minimum FAP is PKR 24.000 per payment. However, the maximum FAP Contribution in a year is 5 times the current year's annual regular contribution. On maturity of the plan, total cash value of units applicable to basic premiums and FAP payments is paid.
In case of demise of the plan holder, the amount payable is equal to:
Pick whichever fund you want based on your needs and risk tolerance from the following three:
In case of accidental death of plan holder, the amount of payout is up to 10 times the basic annual premium with a maximum payout limited to Rs. 5 million.
The maturity value of the plan can be used to buy pension from the company at rates prevalent at that time. Pension options available to the client are as follows:
Surrender the Cash Value of units before the pre-determined plan maturity and purchase a pension option free of charge. This option is available after age 50 years provided the policy has remained in force for at least 5 complete years.
Increase your premium every year by 5% of the previous year's contribution with appropriate increase in benefits.
The policy can be customised to better suit your needs with the following additions/benefits:
1. Unit Allocation:
Premiums are allocated to the investment fund based on the following unit allocation percentages
|Year 4 to 10||100%|
|Year 11 onwards||100% plus loyalty bonus|
2. The loyalty bonus unit allocation, in addition to the basic plan contribution is as follows:
|Year 31||90% and so on|
Retirement Plan is a long-term investment plan that allows you to build your savings for a better tomorrow, with the comfort of an insurance plan that protects you and your loved ones. The plan offers the promise of financial stability when you retire, so that you never have to give up the best things in life. Retirement Plan is underwritten by EFU Life Assurance Ltd.
The retirement plan is available to anyone between the ages of 18 to 60 years. The minimum term of the plan is 10 years whereas the maximum term is 45 years. The savings term has to be selected in such a way that the age of the customer at the end of the savings term is between 60 and 70 years.
This is the guaranteed amount payable on death. The Sum Assured may be selected from the range depending on the age at entry. The sum assured is determined as Annual Regular Basic Plan Premium times the Protection Multiple selected by the client. The Protection Multiple is subject to limits dependent upon the age at commencement.
On maturity of the plan, total Cash Value of units applicable to basic premiums and FAP payments is paid. This amount can be utilized to purchase one of the pension options.