Convenient, hassle free single payment option with the added advantage of life insurance.
Islamic Fund Option
Complete Riba/ interest free investment/ saving opportunity in-line with Islamic principles and beliefskeeping in mind the recent increase in demand of shariah compliant investment vehicles.
Unique Cover Multiple Option
The investor has the option to choose his/ her own life insurance coverage amount through the unique cover multiple feature. Customer has the option to take a maximum coverage of 10 cover multiples of investment amount.
No Front End Load
No bid-offer spread of front end load applicable of investment and no back – end load or redemption charges after 24 months.
No Taxation on Capital Gains
In accordance with Income Tax Ordinance 2001, All investments in Insurance are exempt from capital gain tax.
Tax rebate for businessmen and salaried Individuals
According to the current provisions of Income Tax Ordinance 2001,a salaried individual can avail a tax credit of up to PKR 100,000/- in respect of any life insurance premium paid on a life insurance plan 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 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.
Free Look Period
The customer is entitled to full refund in case it he/ she decides to cancel the policy within 14 days of issuance.
If the investment is redeemed within the first eleven months of issuance a surrender charge of 3% of unit account value is applicable, 2% from twelfth to twenty third month. No back end load/ redemption charges will be charged after completion of two years.
No Holding Period
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.
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.