Tameer Education plan

Children are the most precious blessings of God. Every parent strives to provide their little ones a perfect life and give them all that they desire. The increasing cost of giving your son quality education or your daughter her dream wedding requires you to have a financial plan well in advance.

Why Tameer plan

It is important to start planning as soon as possible, because the earlier you begin, the more time you allow your money to grow.

Tameer plan is a life insurance product of Adamjee Life Co. Ltd. and MCB Ltd., specifically designed as a saving tool to provide your children whatever they desire even in your absence. The plan assures that whatever happens in the future, your family will always have the means to pursue their goals in life.

Plan Details

  • Fund Details

  • Account Value Build up and Unit Accumulation

  • Basic Premium Allocation and Surrender Charge Structure

  • Cover Multiple of Basic Premium

  • Charges

  • Optional Benefits

  • Additional Benefits

  • Access to your Savings

  • Policy Term & Eligibility

  • Basic Premium Payment Mode

  • Disclaimer

Fund Details

Investment Options

Investment Secure Fund

To offer steady returns, the portfolio offers investment in a variety of Government and fixed income securities with minimal exposure in equities.

Investment Multiplier Fund

To offer maximum returns, the portfolio is diversified and balanced with a mix of equity investments, real estate, Government and fixed income securities.

Amaanat (Islamic) Fund

A portfolio which offers investment in Shariah compliant equities, Government and fixed income securities.

Account Value Build up and Unit Accumulation

Account Value Build up and Unit Accumulation

Contributions made towards the plan are invested in various investment vehicles including equities, fixed interest instruments, bonds and other money market instruments. Diversification is achieved by selecting mix of instruments in order to optimize the returns. Funds are managed by a team of expert investment managers, who adjust the investment mix in light of economic conditions, market trends and investment opportunities.

Basic Premium Allocation and Surrender Charge Structure

Basic Premium Allocation and Surrender Charge Structure

Year % of basic premium allocated to Unit account Surrender changes as % of unit account value
1 40% 100%
2 85% 50%
3 onwards 100% Nil

Cover Multiple of Basic Premium

Cover Multiple of Basic Premium

Minimum Cover Limit: 5
Maximum Cover Limit: 200

Charges

Charges

Policy Fee NIL
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 Charge/ Partial withdrawals Rs. 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.

Optional Benefits

Optional Benefits

Accidental death & disability Benefit

A lump sum benefit is paid to you or your chosen beneficiary in case of accidental death or accidental permanent disability.

Level Term Insurance Rider

The feature guarantees as lump sum amount payable to the chosen beneficiary in case of death of the insured person.

Waiver of Premium Rider (WOP-Death)

On death of the insured person, Adamjee Life will pay the initial (un-escalated) basic premiums for the remaining term of the rider, the beneficiary will receive the maturity benefit at the end of the policy term.

Waiver of Premium Rider (WOP-Disability)

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.

Monthly Income Benefit Rider

A monthly benefit is paid to you and your chosen beneficiary for the defined term of income benefit rider from the date of death or permanent disability.

Additional Benefits

Additional Benefits

Saving Booster Ad-hoc Premium

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.

Free Look Period

The plan offers free look period of 14 days, in which you can cancel your policy by contacting Adamjee Life and get your premium refunded. However, as per law Adamjee Life reserves the right to deduct expenses incurred on medical examinations of the life assured in connection with the issuance of this policy.

Continuation Bonus

As you continue the plan for a longer term through timely payments 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 units’ allocation is in addition to the basic units of allocations. The Continuation Bonus allocation is as follows.

Policy Year Continuation Bonus Unit Allocation as % to Basic Premium to Account Value
05 10%
07 25%
10 100%
15 100%
20 100%

Note: Additional benefits are subject to Term & Conditions

Access to your Savings

Partial Withdrawal

To make sure that all your urgent monitory requirements are taken care of, the plan offers the option of making partial withdrawals from your account value after the plan has been enforce for 2 years

Partial withdrawals can be taken up to four times in any Policy Year and are limited to 50% of the Net Cash Surrender Value subject to maintaining a minimum Net Cash Surrender Value of Rs. 10,000.

Loan Facility

You can take a loan up to 50% of the net cash surrender value, which is the Account value minus surrender charge.

Policy Terms & Eligibility

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 10 years
Maximum Policy term 40 years or up to age of 85 whichever comes first.

Basic Premium Payment Mode

Minimum Basic Premium

Monthly PKR: 3,000
Quarterly PKR: 8,000
Semi-Annually PKR: 8,000
Annualy PKR: 8,000

Payment Frequency

  • Annual
  • Semi-Annual
  • Quarterly
  • Monthly

Disclaimer

Disclaimer

  • Tameer is a unit linked plan which is subject to investment risk and the cash value of the plan will vary directly with the performance of the unit fund.
  • MCB Bank Ltd. is acting as a distributor of Tameer education plan on behalf of Adamjee Life, and is not responsible in any manner, whatsoever, to the customer, his/her beneficiary/ies or any third party.
  • All Tameer applications are processed and approved by Adamjee Life, as per their underwriting guidelines.
  • 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 Adamjee Life Assurance Ltd., nor MCB Limited will incur any liability for the same.