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Roshan Kal Takaful

Roshan Kal Takaful is a regular contribution, unit-linked Wakalah Waqf Takaful plan. Roshan Kal 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:

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Islamic Mutual
Funds
Approved Equity
Markets
Terms Deposits
in Islamic Banks
Sukuk Bonds

What you need to know

Minimum Contribution:
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

Eligibility:
The plan is available to anyone between 18 and 65 years.

Plan Terms:
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

Benefits

Customise and multiply your coverage

Add on protection benefits that you want. And select a level of the plan that meets your needs. Depending on your age get as much coverage as you want under one plan. The sum covered is based on the Basic Plan Annual Contribution multiplied by the Protection Multiple which may be selected from a range depending on the age as shown in the table.

Age Level of coverage Maxium
18 - 35 5 75
36 - 40 5 50
41 - 49 5 30
50 - 60 5 10
61 - 65 5 5
Customised add-ons
  • Additional Term Takaful
  • Takaful Family Income Benefit
  • Takaful Accidental Death Benefit *
  • Takaful Accidental Death and Disability Benefit *
  • Takaful Waiver of Contribution

*Note: Only one of the two accidental supplementary benefits may be selected

Top up your savings

Deposit any surplus funds in a lump sum as Fund Acceleration Contributions (FAC) payments and increase the cash value and thus 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.

Decrease your risk even more

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

Donation, which depends on the Takaful cover and age of the participant, will be transferred from Basic Plan Contribution into Participants Takaful Fund.

Surrender Anytime

Unexpectedly need cash and have to withdraw your investment? You need not worry. Surrender the plan and get the total cash value back at any time.

Be protected from unfortunate circumstances

In case of death during plan term, the Takaful benefit will be payable in the form of Cash Value from Fund Acceleration Contributions in the Participants Investment Account.

Partial Withdrawal

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.

Note:

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
1 30%
2 80%
3 90%
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 table below illustrates the growth in the cash values of annual contribution of Rs. 50,000/- (assuming no withdrawals) of a participant of age 30 years next birthday, with conservative expected projections of 7%, 9% and 11% per annum, net of the annual management charge. The Takaful coverage under this plan shall be 20 times of the annual contribution.

8% p.a Expected Rate of Return 10% Expected Rate of Return 12% Expected Rate of Return
Policy Year Main Plan Death Benefit Cash Value of Regular Contribution Main Plan Death Benefit Cash Value of Regular Contribution Main Plan Death Benefit Cash Value of Regular Contribution
5 1,000,000 202,542 1,000,000 212,811 1,000,000 223,514
10 1,000,000 539,461 1,000,000 597,040 1,000,000 661,076
15 1,000,000 987,073 1,157,259 1,157,259 1,359,677 1,359,677
20 1,580,890 1,580,890 1,969,850 1,969,850 2,467,428 2,467,428
25 2,365,420 2,365,420 3,145,327 3,145,327 4,220,724 4,220,724

Charges

Following applicable charges, on the basic Takaful Plan, are based on the principle of Wakalat-ul-Istismar:

  • An Allocation Fee will be charged as Year 1: 70% - Year 2: 20% - Year 3: 10% - Year 4 and onwards: 0%
  • An Administration Charge of Rs.1,500 per annum will be applicable.
  • Bid Spread of 5% of allocable contribution will be charged.
  • Investment Management Fee of 1.5% p.a. of the Fund Value will be applied.

Disclaimer:

  • This Takaful product is underwritten by EFU Life-Window Takaful Operations. It is not guaranteed by JS Bank Limited or its affiliates and is not a JS Bank product
  • The contributions received with respect to the Takaful policies are invested by EFU Life-Window Takaful Operations as per laid down terms and conditions and is responsible for all underwriting risk.
  • All Takaful Claims, charges and payments relating to the Takaful Policies shall be the sole and exclusive responsibility of EFU Life-Window Takaful Operations.
  • As per the directive of SECP, the values given above are based at assumed rates of return of 8%, 10% and 12% per annum. However, the actual values will depend upon the performance of the underlying investments in the EFU Takaful growth funds and can be higher or lower than the ones illustrated above. The investment risk of the selected fund shall be borne by the policyholder.
  • As per the directive of SECP, the values given above are based at assumed rates of return of 8%, 10% and 12% per annum. However, the actual values will depend upon the performance of the underlying investments in the EFU Takaful growth funds and can be higher or lower than the ones illustrated above. The investment risk of the selected fund shall be borne by the policyholder.