Be it a comfortable lifestyle, the wellbeing of your family or their future financial security, as a responsible provider to your family, you would like a comprehensive plan that gives you the guarantee to fulfill these dreams. In an increasingly uncertain world, you also need to ensure that your family is free from all financial burdens in case of any unfortunate event. Save & Assure plan gives you flexible saving, health care and family protection solutions that make sure that you have round the clock 360-degree protection to make your ‘Har Pal Mehfooz’.
Policy Terms & Eligibility
Basic Premium Payment Modes
Basic Premium Allocaton
As an informed investor, you understand that market volatility can impact your investments. Save & Assure enables you to gain control over your savings in tune with your financial needs and your risk appetite.
You can enhance the growth of your savings through Saving Booster by depositing minimum payment of Rs. 10,000 (over and above the regular premium) into your plan. Saving Booster payment will be allocated at 103% in the unit account and can be made & withdrawn anytime during the plan term to boost your accumulated cash value.
You can take a loan of up to 50% of the net cash surrender value, which is the Account Value minus surrender charge, after the third policy year.
This is a value-added feature to cover the inflation impact. Your contributions will increase every year by 5% of the previous years’ contributions with this option. The cash value will also Increase accordingly
Is a moderate to low risk profile fund that generates stable & secure returns by balancing the investment in long term money market investments with up to 90% in a mixture of PIBs, T-bills & Fixed Income instruments with the balance in Cash.
Is a moderate to high risk profile fund that generates higher returns over the long run with a mix of investments of up to in equity type investments and with up to 90% in a mixture of PIBs, T-bills & Fixed Income instruments. Plus, up to 60% in Equity and Equity-type investments with the balance in Cash.
Is an Islamic open-end asset allocation/ investment fund, which seeks to achieve its objective of stable yet aggressive returns through investing in a portfolio of shariah compliant investments diversified through the capital market. The fund primarily invests in high quality SUKOOK/ Islamic bonds (60%), strong Shariah compliant equities (30%) and the balance in cash (10%) offering higher comparative returns.
You are entitled to two initial free fund switches at any time during every plan year and each subsequent switch would be charged at Rs.300.
Contributions made towards the plan are invested in either of Investment Secure Fund, Investment Multiplier Fund or Amaanat Fund. You can choose to invest fully in one of the fund that suite your investment strategy. The returns earned after deduction of risk charges, monthly admin and investment management charges are credited to the unit account balance and accumulate as the policyholder’s cash value. Funds 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.
As you continue the plan for longer term through timely payment of at least the initial basic premium without utilization of partial withdrawal, you will gain the higher rewards in terms Of Continuation Bonuses. The extra units will be allocated to your account value. This extra unit a location is in addition to the basic units of a locations. The Continuation Bonus allocation is as follows:
|Policy Year||Continuation Bonus unit Allocation as % of Basic Premium to Account Value|
With medical costs increasing considerably, Health Care option of Save & Assure ensures health protection for you and your family. It takes care of the medical treatment costs incurred due to serious accident or illness.
A lump sum benefit is paid to you in case you are diagnosed with one Of the isted 20 diseases during the enforce term Of this rider. This lump sum benefit is additional to your man plan benefit.
A lump sum benefit is paid to you or your chosen beneficiary n case of accidental death or accidental permanent disability.
Adamjee Life’s Save & Assure Family care solution gives you the comfort that you and your family are always protected. We not only make sure that your family is free of all financial burdens but also provide life coverage to your spouse so that your family is prepared for all unfortunate eventualities.
In the unfortunate event of the death of the insured person’s spouse during the enforce term Of this rider, the rider Sum assured is payable.
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
This feature guarantees a lump Sum amount payable to the chosen beneficiary in case of death of the insured person.
On death Of the insured person, Adamjee Life will pay the initial (urn-escalated) basic premiums for the remaining term of the beneficiary will receive the maturity benefit at the end Of the policy term.
On total permanent disability of the insured person, Adamjee Life will pay the initial (un-escalated) basic premiums for the remaining term of the rider. The policy holder or beneficiary will receive the maturity benefit at the end of the policy term.
|Minimum Cover Term||10 years|
|Maximum Cover Term||40 years or up to age 85 (whichever comes first)|
In case the PO icy owner dies during the plan term, the sum assured or accumulated account value whichever ‘s higher, less any partial withdrawals and indebtedness, will be paid to the beneficiary (ies).
At the time Of maturity Of the policy term the insured will get the amount equal to his/her account value.
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
Policy Terms & Eligibility
|Minimum entry Age||18 years (Age nearest Birthday)|
|Maximum entry Age||70 Years (Age nearest Birthday)|
|Minimum policy term||10 years|
|Minimum premium paying term||05 years|
|Maximum Policy Term||40 years|
Basic Premium Allocation
The proportions allocated to your Account Value will be as follows:
|Policy Year||% Allocation of Basic Premium to Account Value||Surrender Charges as % of unit account value|
|Management (& Administration) Charge||An annual charge of 1.75% of the Cash Value deducted on a monthly basis.|
|Bid/Offer Spread||5% of all premiums allocated to the Unit Account|
|Surrender Charges||PKR 350/.|
|Fund Switching||The first two switches in a Policy Year are free. A charge of Rs. 300 will be made for any further switches in that Policy Year.|