JS Khushal Mustaqbil Takaful

JS Khushal Mustaqbil Takaful plan is specially designed to safeguard the future of your children by providing the prospect to save for their education and marriage.JS Khushal Mustaqbil is a regular contribution, unit-linked Takaful plan that is Shari’ah compliant, underwritten by EFU Life – Window Takaful Operations.

What is Takaful?

Takaful is a Shari’ah compliant way of safeguarding yourself and your family against future financial losses. EFU Life’s Takaful model is based on the Wakalah-Waqf principle. Individuals in the community come together for a common purpose and contribute into a Waqf Fund operated by a Takaful Operator to protect themselves against future financial losses.


Features of JS Khushal Mustaqbil Plan

JS Khushal Mustaqbil plan provides you with a complete financial planning solution to plan for your children’s future education and marriage as well as customizing the solution by including additional protection benefits, no matter what uncertainty life unfolds.

Year Allocation as percentage of Contribution
1 25%
2 80%
3 90%
4 to 5 100%
6 to 10 103%
11 to 15 105%
16 to 20 107%
21 to 25 110%

Continuation Benefit:

In the unfortunate event of death prior to the maturity of the plan,theplan’s Continuation Benefit will ensure that all future contributions will be paid by Participant’s Takaful Fund (PTF) managed by EFU Life, following the participant’s death until the plan’s maturity date. This means that the funds that you had planned for will still be available for your children.

Maturity Benefit:

At the end of the membership term, the maturity benefit will be payable as follows:

Basic cash value of Participant’s Investment Account (PIA)


Cash Value from Fund AccelerationContributions in the Participant’s Investment Account.

Additional Takaful Benefits:

Participants can opt for following extra benefits:

  • Additional Term Takaful
  • Takaful 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

Surplus Sharing: You can enjoy unique feature of Surplus Sharing in addition to risk mitigation benefits. By contributing Tabarru (donation) into the Participant’s Takaful Fund (PTF), you may be entitled to a share of possible surplus funds at the end of each year.

Fund Acceleration Contributions: You can enjoy plan flexibility by further boosting your savings through lump sum contribution during the policy period as Fund Acceleration Contributions (FAC). The minimum FAC amount is Rs. 20,000 per payment.

Minimum Contribution

The Minimum Contribution for the JS Khushal Mustaqbil Takaful plan is Rs. 20,000 per annum

Fund Management Expertise & Investments Avenues

Your contribution is managed by experts to maximize capital growth by investing in a portfolio spread across a wide range ofShari’ah Compliant investments such as:

  • Islamic mutual funds
  • Approved equity markets
  • Terms deposits in Islamic Banks
  • Sukuk Bonds

Waqf Donation

Waqf Donation, which depends on the remaining contributions, will be transferred from Basic Plan Contribution into Participants Takaful Fund

Although not advisable

Full & Partial Funds Withdrawal Opportunity

, but as a member of JS Khushal Mustaqbil Takaful plan, you are entitled to make withdrawals fromyour plan. Your options are as follows:

  • Total cash value at any time.
  • Partial withdrawal with at least Rs. 25,000 remaining as cash value.

Eligibility & Terms

The JSKhushalMustaqbilplan is available to anyone between 18 and 65 years, the maximum maturity age of the participant is 75 years. The term ofthe Takaful contract can vary between 10 and 25 years.


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

  • An Allocation Fee will be charged as Year 1: 75% – Year 2: 20% – Year 3: 10% – Year 4 and onwards: 0%
  • An Administration Charge of Rs.1, 500 per annum will be applicable.
  • Bid Offer Spread of 5% of Allocable Contribution will be charged.
  • Investment Management Fee of 1.5% p.a. of the Fund Value will be applied. This charge will be recurring.

Illustration of Benefits:

The following example portrays the benefit under the plan taken by a parent, 35 years next birthday who is planning for future education of his child.

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 required meeting school fees on parent death 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
Policy Year 7% p.a Expected Rate of Return 9% p.a Expected Rate of Return 11% p.a Expected Rate of Return
Cash Value Cash Value Cash Value
5 202,940 213,230 223,954
10 538,940 596,349 660,188
15 981,614 1,150,106 1,350,878
20 1,564,231 1,949,375 2,442,700
25 2,338,353 3,110,200 4,175,596

On death of parent prior to maturity

Continuation Benefit Rs. 50,000 per annum
Income Benefit Rs. 25,000 per quarter


  • 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 7%, 9% and 11% 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.
  • The contributions in the plan are invested in the mentioned growth fund.
  • The past performance of 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 – Window Takaful Operations nor JS Bank Limited will incur any liability for the same.
  • A personalized illustration of benefits will be provided to the participant by sales representative. Please refer to the notes in the illustration for detailed understanding of the various Terms and Conditions; you are required to fully understand the illustration and other terms and conditions of the plan.
  • JS Bank is just a promoter and distributor of this product to its valued customers.
  • Service charges and taxes will be applicable as per the Bank’s “Schedule of Charges” and taxation laws as stipulated by the relevant authorities.