JS Khushal Mustaqbil is a regular contribution, unit-linked takaful plan.ons. The JS Khushal Mustaqbil Takaful is overseen by experts who ensure you get the maximum halal capital growth on your contributions by investing in a portfolio spread across a wide range of Shariah Compliant investments such as:
A minimum contribution of Rs. 20,000 per year is required. Allocations and returns based on the contribution vary by year and age. 1, 2
The plan is available to anyone between 18 and 65 years.
Can vary between 10 and 25 years. The plan selected has to be such that the maximum age at the end of the plan term is not more than 75 years. Certain charges apply.3
*Note: Only one of the two accidental supplementary benefits may be selected
Deposit any surplus funds in a lump sum as Fund Acceleration Contributions (FAC) payments and increase the cash value and thus the returns of your plan. The minimum FAC amount is Rs. 20,000 per payment. At the end of plan, the maturity benefit will be payable as follows: Basic Cash Value of Participant’s Investment Account plus Cash Value from Fund Acceleration Contributions in the PIA.
Enjoy the unique feature of Surplus Sharing. By contributing Tabarru (donation) into the Participant’s Takaful Fund (PTF), decrease your risk even more and be entitled to a possible bonus.
Waqf Donation, which depends on the Takaful cover and age of the participant, will be transferred from Basic Plan Contribution into Participants Takaful Fund.
Enjoy a guaranteed level of Takaful protection. In case of death, your dependents will receive the funds according to the plan’s original terms. The plan’s Continuation Benefit will ensure that all future contributions will be paid by Participant’s Takaful Fund managed by EFU Life, following the participant’s death until the plan’s maturity date.
Unexpectedly need cash and have to withdraw your investment? You need not worry. Cancel the plan and get the total cash value back any time.
Don’t want to take out all your money but need funds for an emergency? You have the option of partially withdrawing your funds if you leave at least Rs. 25,000 as cash value.
1. Allocation of Contribution
Year-wise allocation percentages of the participant’s contribution are shown in the table below:
|Year||Allocation as percentage of Contribution|
|4 to 5||100%|
|6 to 10||103%|
|11 to 15||105%|
|16 to 20||107%|
|21 to 25||110%|
2. Illustration of Benefits
The following example portrays the benefit under the plan taken by a parent:
|Number of years to university education||25 years|
|Current estimated annual university fees||Rs. 235,556|
|Period of education||4 years|
|Target Fund (After 25 years)||Rs. 3,190,701|
|Quarterly Income Benefit upon parent's death prior to maturity||Rs. 25,000|
|Main Takaful Contribution||Rs. 50,000 p.a|
|Income Benefit Contribution||Rs. 6,300 p.a|
|Total Annual Contribution||Rs. 56,300 p.a|
|7% p.a Expected Rate of Return||9% p.a Expected Rate of Return||11% p.a Expected Rate of Return|
|Policy Year||Policy Year||Policy Year||Policy Year|
3. Following charges apply on the basic Takaful Plan and are based on the principle of Wakalat-ul-Istismar: