MCB Invest For Life

OBJECTIVE
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 one of two funds with different combinations 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.


Bourne borne
• Highly flexible single payment investment plan with the benefit oflife insurance packaged in
• Attractive returns with choice of funds to match your risk appetite
• A uniquecommodity fund option being introduced for the first time ever
• Continuation /Loyalty Bonus allocated to the investor after every 5 years
• Unique ad-hoc investment option with 100% unit allocation and no upper limit
• Tax credit on the investment made subject to limits as per the Income Tax Ordinance 2011
• Free built in Accidental Death cover
• Loan facility to fulfill short term financial needs
• Partial withdrawal option

Description

‘This 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

The Cash Value of the Plan will vary directly with the investment performance of the Funds.

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.

Fund Name
Investment Multiplier Fund: Debt Fund
Investment Diversifier Fund: Commodity Fund

Fund Owners
Adamjee Life Assurance Company Limited
Rated A (WITH POSITIVE OUTLOOK) by PACRA

Investment Objectives
To maximize the returns for the investor by investing in equity, debt and commodity markets. Funds are managed by a team of expert investment managers, who adjust the investment mix in light of economic conditions and investment opportunities.

Investment Strategy

Investment Multiplier fund:
Is a low to moderate risk fund with Up to 40% investment in a mixture of PIBs, T-bills & Fixed Income instruments PLUS up to 50% in Equity and Equity-type investments with the balance in Cash.

Investment Diversifier Fund:
Is a high risk fund with Up to 50% investment in a mixture of PIBs, T-bills & Fixed Income instruments PLUS up to 10% in Commodity investments, up to 30% in Equity with the balance in Cash.

Fund switch option:
You are entitled to two initial free fund switches at anytime, each subsequent switch would be charged at Rs.300.

Minimum Investment: PKR 25,000
 
Maximum Investment: Unlimited
 
Minimum Sum assured (Death Cover): Cover multiple 1
 
Maximum Sum Assured(Death Cover): Cover Multiple 10
 
EXAMPLE 1:
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.
 
Accidental Death Cover:
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.
Single Investment
Convenient, hassle free single payment option with the added advantage of life insurance.
 
Unique Commodity Fund Option
Maximize returns for the investor by strategically investing in one of the two funds with unique “Commodity Fund” option ensuring hedge against uncertainties, volatility and inflation.
 
Free Accidental 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.
 
Strong Financial Backing
Specialized fund management with strong financial backing of parent groups i.e. Nishat Group and Hollard, South Africa.
 
No Back- End Load
No exit charges are applicable at the time of withdrawal.
 
No Taxation on Capital Gains
In accordance with Income Tax Ordinance 2011, All investments in Insurance are exempt from capital gain tax
 
Tax Credit for Individuals
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.
 
No Holding Period
There is no minimum holding period required. However, it is recommended to invest in the fund for long term.
 
Redemption Period
Encashment/Redemption can be made within a period of 6 business days.
 
Diversified Investment Portfolio
A well-diversified investment portfolio with any amount of investment.
 
Easy to Monitor Investment
Ease of choosing and monitoring one fund instead of multiple investments.
 
Proper Re-balancing of Investments
Regular re-balancing to maintain the correct risk/return characteristics over time.
Min entry age:
18th Birthday
 
Max entry age:
70th Birthday
 
Max age of cover:
85th Birthday
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)
1 100% .5%
The longer you continue the Plan, 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
5 1%
10 2%
15 3%
20 4%

The plan also offers the facility to take a loan of up to 50% of the total cash value to cover any short term financial commitments or requirements. An interest rate of KIBOR + 3 is applicable on all policy loans.

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.

With the INVESTMENT BOOSTER feature the customer has the option to invest additional amount at anytime to the fund account to boost his/her maturity returns.

Min Amount: PKR 25,000
Max Amount: Unlimited

CHARGES
Management & Admin charges: 1.6%
Surrender/ Redemption Charge: PKR 350 per annum

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