Future Assure is a risk-free savings plan that gives you capital protection and control over returns with flexibility and the peace of mind that your family will be secure in case of any unfortunate events. The policy will cover risks for your loved ones, secure savings for your children’s higher education or marriage expenses and ensure a healthy future. With Future Assure, be secured and ‘Har Pal Mehfooz’.
Contributions made towards the plan are invested in various investment vehicles that optimize the returns for the customer. The returns earned after deduction of monthly admin and investment management charges are credited to the account balance and accumulate as the policyholder’s cash value. These investments are managed by a team of expert investment managers at Adamjee Life, who adjust the investment mix in light of economic conditions and investment opportunities.
Policy Terms and Eligibility
Basic Premium Payment Modes
Basic Premium Allocation
In case policy owner dies during the term plan, the greater of Account Value less any partial withdrawals or indebtedness or Sum assured, will be payable.
The plan offers a free-look period of 14 days in which you can cancel your policy by contacting Adamjee Life, and have your premium refunded. However, as per law, Adamjee Life reserves the right to deduct the expenses incurred on medical examination(s) of the Life Assured in connection with the issuance of this Policy.
You have the option to make partial withdrawals from your account value after the policy has run for at least one year.
You may also surrender your policy any time after the payment of two full years’ premium during the life of the policy and get your surrender value. The surrender value equals total cash value less surrender charges.
You can take a loan of up to 50% of the net cash surrender value, which is the Account Value minus surrender charge.
This is a value-added feature to cover the inflation impact. Your contributions will increase every year by 5% or 10% of the previous years’ contributions with this option. The sum assured will also increase accordingly.
This feature guarantees a lump sum amount payable to your chosen beneficiary in case of death due to accident or sickness.
A monthly benefit is paid to you or your chosen beneficiary for the defined term of income benefit rider from the date of death or permanent disability.
On Death of the insured person, Adamjee Life will pay the initial (un-escalated) basic premium for the remaining term of the rider.
On permanent and total disability of the insured person, Adamjee Life will pay the initial (un-escalated) basic premium for the remaining term of the rider.
On accidental death or permanent and total disability by accident of the insured person during the in force term of this rider, the rider sum assured is payable.
Policy Term and Eligibility
|Minimum entry Age||18 years (Age nearest birthday)|
|Maximum entry Age||75 Years (Age nearest Birthday)|
|Minimum Policy Term||10 years|
|Maximum Policy Term||40 years or up to age 85 years|
|Minimum Premium Payment Term||5 years|
Basic Premium and Payment Modes
Basic Premium Allocation
As you continue the policy towards its full term, your Account Value will be credited with a proportion of Basic Premiums that you pay in. The proportions allocated to your Account Value will be as follows:
|Policy Year||% Allocation of Basic Premium to Account Value||1||50%|
|Investment Management Charges||1.75%|
|Administration Fee||PKR 100 per month; increased in line with CPI|
|Flat Surrender/ Partial Withdrawal fee:||PKR 350/.|
|Policy Year||Surrender Charges as % of Unit Account Value|
|3 & onwards||Nil|
As you continue the plan for longer term you will gain the higher rewards in terms of Continuation Bonuses. The extra units will be allocated to your Account Value. This extra unit allocations is in addition to the basic units of allocations. The Continuation bonus allocation is as follows:
|Policy Year||Continuation Bonus Unit Allocation as % of Basic Premium to Account Value|
To offer steady returns, the portfolio offers investment in Government and fixed income securities with exposure in equities.