The objective of the investment is to provide the customer with convenient hassle free single investment option with the added advantage of life insurance. The purpose is to maximize the returns for the investor by strategically investing in a fund with a combination of investment instruments keeping in mind the individuals risk appetite and return expectation. The plan also provides built in natural and accidental death coverage to cater to the protection needs of the customer.
Invest for Life is a flexible Single premium unitized investment linked assurance plan that gives the investor access to professionally managed Unit Linked Funds with the benefit of life insurance cover packaged in. Free accidental death coverage of twice the investment amount is also provided. Premiums/ Investments are mainly used to purchase units in the Funds. Additionally, the individual has to make just a onetime investment and the policy will continue till the 85th birthday. To cater to the investors changing needs, the plan provides many flexible options such as altering his/her investment and protection level, topping up, switching among Unit Funds, etc.
Additional Plan Benefits
Investment Secure Fund-II: Debt Fund
Adamjee Life Assurance Company Limited
Rated A (WITH POSITIVE OUTLOOK) by PACRA
Is a low to moderate risk fund that invests up to 90% of fund in Government Securities , up to 30% in Listed equities , up to 30% in mutual funds , up to 10% in term finance certificates , up to 100% in bank/term deposits. Cash balances not more than 10% of fund value.
|Minimum Investment:||PKR 25,000|
|Minimum Sum assured (Death Cover):||Cover multiple 1.25|
|Maximum Sum Assured (Death Cover):||Cover Multiple 10|
Mr. Ahmed acquires “Invest for Life” plan for an initial single investment of PKR. 50,000, with cover multiple 5 as protection level. This would mean that incase of any unexpected event Mr. Ahmed would enjoy a life coverage of (50,000x cm5)= PKR. 250,000 that his family would receive. The higher of the cash value or Sum assured will be paid to the beneficiaries.
Additional Plan Benefits
Convenient, hassle free single payment option with the added advantage of life insurance.
The plan also provides built in natural and free accidental death coverage to cater to the protection needs of the customer and his family.
No exit charges are applicable at the time of withdrawal after 6 months.
In accordance with Income Tax Ordinance 2011, All investments in Insurance are exempt from capital gain tax.
According to the current provisions of Income Tax Ordinance 2011, salaried individuals can avail a tax credit of up to PKR 100,000/- in respect to any life insurance premium paid on a life insurance policy held for a minimum period of 1 year subject to annual taxable income exceeding PKR. 4.55 million. The non-salaried/self-employed investor can also avail the tax credit of up to 125,000/- where the taxable income for the year exceeds Rs. 1.5 million, provided that the total insurance premium does not exceed 15% of the person’s taxable income for that year. Investors are advised to consult their tax advisor prior to making an investment decision.
There is no minimum holding period required. However, it is recommended to invest in the fund for long term.
Encashment/Redemption can be made within a period of 6 business days.
A well-diversified investment portfolio with any amount of investment.
Ease of choosing and monitoring one fund instead of multiple investments.
Regular re-balancing to maintain the correct risk/return characteristics over time.
The family of the insured would receive twice the investment amount with upper limit of 5 million. Accidental coverage will be provided till the 70th birthday.
Partial withdrawals can be made by the investor from his/her fund after the policy has been enforce for at least 6 months to fulfill any short term needs. Withdrawals are limited to 50% of the net cash surrender value and can be taken up to 4 times a year. When a partial withdrawal is made, the amount of partial withdrawal will be deducted from both the Net Cash Surrender Value and the Sum Assured of the Policy.
With the investment booster feature the customer has the option to invest additional amount at any time to the fund account to boost his/her maturity returns.
|Min entry age||18th Birthday|
|Max entry age||70th Birthday|
|Max age of cover||85th Birthday (not exceeding the maximum term for 25 years)|
Investment only has to be made one time in advance.
|Plan Year||% of basic premium allocated to unit account||Surrender/ redemption Charges as % of Unit account value (first 6 months)|
The longer you continue the plan without utilization of partial withdrawal, the higher rewards you gain in the form of generous loyalty bonuses. A loyalty bonus comes in the form of extra units added to your account value at the end of every 5 years to accelerate growth of your funds.
|Plan Year||% of initial basic premium allocated to unit account|
|Management & Admin charges||1.6%|
|Surrender/ Redemption Charge||PKR 350 per annum|
|Bid/Offer Charges||3% of all premiums allocated to the Unit Account|