A flexible single contribution, this investment-linked plan ensures your deposit gives you high returns instead of depreciating over time. Zaamin Takaful is a unit-linked, Waqf-based plan.100% of the original single contribution is allocated to purchase units in EFU Takaful Growth fund.
Minimum Contribution:
A minimum contribution of Rs. 50,000 is required. The returns based on the contribution vary by terms of the plan and age. 1 Certain charges apply. 2
Eligibility:
The plan is available to anyone age 18 years of age or older.
Be rewarded by investing with us long term. If you’re a member for 5 years, earn bonuses starting from the end of 5th membership year. The loyalty bonus unit allocation in addition to the basic plan is as follows:
| Policy Year | Loyalty Bonus Allocation as % of Single Contribution |
|---|---|
| 5 | 2% |
| 10 | 3% |
| 15 and after every 5 years | 4% |
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. 50,000. A guaranteed 100% of the FAC will be allocated to purchase units in EFU Takaful Growth funds.
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.
By Policy:
The sum covered for all ages at time of plan enrollment can be selected from 1.25, 1.75, 1.5 or 2 times of the original single contribution.
By Age:
For those who were 18 – 59 years old at time of enrollment, a Death Benefit up to age 70 years is equal to the greater of the sum covered (adjusted for partial surrenders) or cash values of the plan plus the cash value of the units applicable to (If any). Please note: The Death Benefit after 70 years of age will be the Total Cash Value of the plan.
For those 60 years old or older at the time of enrollment, the Death Benefit of up to 5 policy years is equal to the greater of the sum covered (adjusted for partial surrenders) or cash values of the plan plus the cash value of the units applicable to Fund Acceleration Contributions (if any). Death benefit after 5 policy years will be the Total Cash Value.
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. Illustration of Benefits The below table illustrates the expected Cash Value of a person aged 35 years. The single contribution is Rs.100,000 with a protection component of 1.5. In this case, the guaranteed amount on death is Rs.150,000 and the projected Cash Values are as follows:
| 6% p.a Expected Rate of Return | ||
|---|---|---|
| Policy Year | Death Benefit | Cash Value |
| 5 | 150,000 | 119,061 |
| 10 | 150,000 | 150,162 |
| 15 | 190,243 | 190,243 | 20 | 240,191 | 240,191 |
| 8% p.a Expected Rate of Return | ||
|---|---|---|
| Policy Year | Death Benefit | Cash Value |
| 5 | 150,000 | 130,570 |
| 10 | 150,000 | 180,191 |
| 15 | 250,909 | 250,909 | 20 | 346,346 | 346,346 |
| 10% p.a Expected Rate of Return | ||
|---|---|---|
| Policy Year | Death Benefit | Cash Value |
| 5 | 150,000 | 143,219 |
| 10 | 217,402 | 217,402 |
| 15 | 329,926 | 329,926 | 20 | 499,124 | 499,124 |
2. Following charges apply on the basic Takaful Plan and are based on the principle of Wakalat-ul-Istismar:
Built-in Accidental Death Benefit:
In case of accidental death of the participant before age 60, an additional lump sum benefit will be paid. The amount of payout is equal to original Single contribution (adjusted for partial withdrawals). This benefit amount will be in addition to the death benefit mentioned above.
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