Zaamin Takaful

Single Contribution Investment Plan

Zaamin is a flexible single contribution investment-linked plan for achieving higher returns with added benefit of Takaful coverage. You pay the Contribution just once and enjoy the dual benefits of family Takaful coverage and investment in Shari’ah compliant instruments. This plan gives you a chance to make the best use of the lump sum cash amount, rather than letting it depreciate with time.

Zaamin Takaful is a unit linked, Waqf based plan and is 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 Zaamin Plan:

Zaamin plan offers you Takaful benefits with an opportunity to invest in Shariah compliant funds and provides you with a chance to make the best use of your investments.

100% of the original single contribution is allocated to purchase units in EFU Takaful Growth fund.

Your single contribution is managed by experts to maximize capital growth by investing in a portfolio spread across a wide range of Shariah Compliant investments such as:

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

Loyalty Bonus: You can enjoy Loyalty Bonus for your long-standing relationship. These bonus units are allocated every 5 years, starting from the end of 5th membership year. The loyalty bonus unit allocation, in addition to the basic plan contribution is as follows:

Policy Year Loyalty Bonus Allocation as % of Single Contribution
5 2%
10 3%
15 and after every 5 years 4%

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. 50,000.

100%  of the Fund Acceleration Contribution will be allocated  to purchase units in EFU Takaful Growth funds.

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 in the form of bonus units in Participant’s Investment Account (PIA) to enhance your plan cash value.

Benefits of Zaamin Plan

Sum Covered: The sum covered is the guaranteed amount payable on death. Sum Covered for all ages at entry can be selected from 1.25, 1.75, 1.5 or 2 times of the original single contribution.

Death Benefit: In case of an unfortunate event of death, the Takaful benefit will be payable as follows:

For entry Ages 18 – 59 years:

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 FAC (If any)
Death benefit after 70 years of age will be Total Cash Value.

For entry ages 60 & above

Death Benefit 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 FAC (If any).
Death benefit after 5 policy years will be the Total Cash Value.

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.

Full or Partial Withdrawal Opportunity:

Although not advisable, but as a member of Zaamin plan, you are entitled to make withdrawals from your plan. Your options are as follows:

– Total cash value at any time

– Partial withdrawal with at least Rs. 20,000 remaining in the fund (excluding the cash value of the FAC)

Eligibility & Terms

The plan is available to anyone with minimum age of 18 years. Minimum contribution for Zaamin Plan is Rs. 50,000.

Waqf Donation:

Waqf Donation, which depends on the Takaful cover and age of the Participant, will be transferred from basic plan Contribution into Participants Takaful Fund (PTF).


Following applicable charges on the Takaful plan

  • Bid Offer Spread: 5% of net Single Contribution will be charged.
  • Investment Management Fee: 1.5% p.a. of the Fund Value will be applied.
  • Wakala Fee: 25% of Takaful Donations will be charged.


Illustration of Benefits

The below table illustrates the expected cash value of a person aged 35 years. The single contribution is PKR 100,000 with a protection component of 1.5. In this case, the guaranteed amount on death is PKR 150,000 and the projected Cash Values are as follows:

Policy Year 6 % p.a. Expected  Rate of Return
Death Benefit Cash Value
5 150,000 119,061
10 150,000 150,162
15 190,243 190,243
20 240,191 240,191


Policy Year 8 % p.a. Expected Rate of Return
Death Benefit Cash Value
5 150,000 130,570
10 150,000 180,891
15 250,909 250,909
20 346,840 346,840
Policy Year 10 % p.a. Expected Rate of Return
Death Benefit Cash Value
5 150,000 143,219
10 217,402 217,402
15 329,926 329,926
20 499,124 499,124



  • 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. Hence EFU Life – Window Takaful Operations is responsible for all underwriting risk.
  • JS Bank is just a promoter and distributor of this product to its valued customers.
  • The contributions received with respect to the Takaful policies are invested by EFU Life – Window Takaful Operations as per laid down Terms and conditions.
  • All Takaful Claims, charges and payments relating to the Takaful Policies shall be the sole and exclusive responsibility of EFU Life-Window Takaful Operations.
  • The past performance of the 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.
  • As per the directive of SECP, the values given above are based at expected rates of return of 6%, 8% and 10% per annum. However, the actual values will depend upon the performance of the underlying investment in the EFU Takaful Growth Fund and can be higher or lower than the ones illustrated above. The investment risk of the fund shall be borne by the participant.
  • Taxes will be applicable as per the taxation laws as stipulated by the relevant authorities.