Frequently Asked Questions

You can get your contact details (Address/ Contact number/ Email) updated by sending us the Request Form for Change/ Alteration duly filled and signed by the Policy Owner.

You can submit your request to Adamjee Life Assurance Co. in order to customize benefits of your policy.

Nomination is the process of selecting an authorize person who is entitled to receive sum assured in case of the unfortunate demise of the life insured. The policy owner should nominate the beneficiary details in the proposal form.

Change in Beneficiary.

Change in percentage allocation of the Beneficiaries.

Correction in the relationship of the Beneficiary with Life Insured.

Correction in the spelling of Beneficiary’s name The Policy Owner can request for the above mentioned Beneficiary related changes by sending us, duly filled and signed copy of.

Request Form for Change/ Alteration. We will make the requested changes and send you the revised documents. (Beneficiary should be any Blood relative).

In case the name of Policy Owner/ Life Insured is incorrectly spelled on the policy documents; send us the Request form for Change/ Alteration duly filled and signed by the Policy Owner. We will correct the spelling error and send you the acknowledgment letter.

In case the Date of Birth of Policy Owner/ Life Insured is incorrectly mentioned on the policy documents; send us the Request form for Change/ Alteration duly filled and signed by the Policy Owner along with a copy of CNIC. We will correct the Date of Birth and send you the revised acceptance letter which will signed by the policy holder. Upon completion of documents a revised policy schedule will be sent to you for your records.

For changing the account number provided earlier for Auto Debit premium deduction, send us the Request form for Change/ Alteration duly filled and signed by the Policy Owner along with the revised Auto Debit Instruction for your new account. You can find Auto Debit Instruction form at the respective Bank Branch.

Adamjee Life offers Annual, Half-Yearly, Quarterly and Monthly payment modes for your convenience. You can change your Premium Payment Mode after the completion of first policy year. For changing the premium mode please submit the following documents at your respective bank branch:

Request Form for Change/ Alteration duly filled and signed by the Policy Owner.

Revised Auto Debit Instruction (Available at Bank Branch).

Health Questionnaire (Duly filled by the Insured person).

You can make changes to your Premium Paying Term on policy anniversary. For making changes to your Premium Paying Term submit the following documents at your respective bank branch:

Request Form for Change/ Alteration duly filled and signed by the Policy Owner.

Revised Auto Debit Instruction (Available at Bank Branch).

Health Questionnaire (Duly filled in all respects by the Life Insured).

Upon receiving your request, we will send you the revised Illustration and Acceptance letter (reflecting the financial impact of the changes made). Please send us back the Illustration and Acceptance Letter duly filled by the Policy Owner within 30 days.

Adamjee Life offers customers an option to continue with their policy with reduced premium in case of financial strain. You can request for premium reduction on policy anniversary. For reducing your premium submit the following documents at your respective bank branch:

Request Form for Change/ Alteration duly filled and signed by the Policy Owner.

Revised Auto Debit Instruction (Available at Bank Branch).

Health Questionnaire (Duly filled in all respects by the Life insured).

Upon receiving your request, we will send you the revised Illustration and Acceptance letter (reflecting the financial impact of the changes made). Please send us back the Illustration and Acceptance Letter duly filled by the Policy Owner within 15 days.

To make changes to the Sum Assured on policy anniversary, you are required to submit the following documents at the respective bank branch:

  • Request Form for Change/ Alteration duly filled and signed by the Policy Owner
  • Revised Auto Debit Instruction (Available at Bank Branch)
  • Health Questionnaire (Duly filled in all respects by the life insured)

The riders, applicable to the product, can be added in the on policy anniversary, you are required to submit the request at the respective bank branch/ Adamjee life branch.

The premium amount is deducted from your respective bank account within 10 days following the due date. However, in case the amount is not being deducted contact your respective branch or you can send premium deduction request directly to us at help_csd@adamjeelife.com

You can add additional amount to your investment as Ad-hoc. The minimum Ad-hoc amount required varies from product to product while there is no maximum limit to it. You can send us the Ad-hoc amount through Cheque, pay order or bank draft. A confirmation letter will be sent to you upon realization of this amount.

*Ad-hoc option is available in selected products.

Adamjee Life offers its customers a Free Look Period of 14 days. After receiving your policy documents, you have a reviewing period of 14 days. If during this period you disagree with the policy terms and conditions stated, you can send us back the documents with ‘Cancel (FLP)’ written on it along with the Cancellation Form duly filled and signed by the policy owner. Your policy will be cancelled and the premium paid will be refunded back.

In the event of a claim during the term of the life insurance policy, the nominee has to intimate the insurance company. For Non Death Claims, insured can contact Adamjee Life by themselves using any one of the following means:

  • Telephone Call:
  • Claims Department: 021-38677114/0346-8209366
  • Call Centre(Helpline):021-111-11-5433
  • Email: help_claims@adamjeelife.com
  • Written Request:
  • The Claims Department
  • M/s Adamjee Life Assurance Company Ltd
  • SuiteNo:323,325, 3rd Floor, TheForum
  • PlotG-20, Block-9, Clifton
  • Karachi

To make sure that the claim is processed as quickly as possible, we do ask that you, or someone on your behalf, let us know of any claim you’re making within 30 calendar days from the date that the incident occurred.

In such a case a written explanation would also be required to validate the delayed intimation.

We have 4 Steps

Claim process:

  • Claimant to intimate Adamjee Life Assurance Co Ltd about the claim
  • Adamjee Life Assurance Co Ltd informs the claimant to complete the documentation for faster claim processing
  • Claimant to submit complete set of the required documents
  • Adamjee Life Assurance Co Ltd to take decision on the claim

The claim forms and the claim process are available on our website www.adamjeelife.com

and can be downloaded from there.

For Death Claim

Basic Requirements are:

  • Claim Forms
  • Death certificates (NADRA / Union Council and Hospital Death Certificate)
  • Original Policy Documents
  • Attested CNIC Copies of the Beneficiary and the Deceased
  • Hospital Death Certificate
  • Photograph of decease
  • Newspaper cutting (if accidental death)
  • Rescue Report 1122 (if accidental death)
  • Police Report and Post Mortem Report (if accidental death).
  • Hospital & Medical Records.

Additional documents may be asked if deemed necessary

For Disability Claims

  • Claim Forms
  • Hospital /Medical Records, X-rays and other treatment records
  • Disability Certificate
  • Police Report and MLO Report (if registered)
  • Photograph of claimant

Additional documents may be asked if deemed necessary

Normally when all the requirements have been submitted, It takes 3-5 working days for the decision of the claim. In case where verification is needed this time could be extended however in such cases the claimant is notified about it.

The claim proceeds will be paid to the beneficiary who generally is the nominee as mentioned by the Life Assured in the application Form for Insurance.

You can know the status of your claim or clarify any of your queries by contacting our TOLL FREE 111-11-5433 or email us at Help_Claims@adamjeelife.com or use the Eservices portal to lodge a claim

The company honors claim payments through cheques made/ IBFT in favor of the company.

Cash value of a unit linked life assurance plan, also called as cash surrender value, can be easily determined by multiplying your net outstanding units with applicable bid price of the underlying fund of your plan and deducting the applicable surrender charges from the same, if any.

The policy documents include the following:

  • Policy Provision & Conditions
  • Claim Settlement Form
  • Rider Provisions
  • Policy Schedule
  • Non-Financial Alterations Form
  • Empty envelope
  • Charges Structure

The Duplicate Policy documents can be issued when client submits the following:

Written request for the issuance of policy documents.

Provide an Affidavit on Rs. 100/- bond paper duly signed by the notary (Affidavit Text for Duplicate Documents)

* Requests for duplicate document directly received from the clients will not be entertained.

As compared to a term insurance plan which simply expires and offers no benefit at the end of the policy tenure, unit linked life assurance plan being a cash value based product is designed to provide an additional investment linked saving benefit which can be availed either during the tenure of the plan or at the time of maturity.

At present Adamjee Life Assurance Company Limited is offering the following types unit linked life assurance plan:

Regular premium plan: This plan allows the policyholder to pay premiums at regular intervals during the tenure of plan such as monthly, quarterly, half yearly or annually. Under these plan the policyholder is obliged to pay the premium every year till maturity or the end of premium paying term, whichever is earlier.

Single premium plan: This plan allows the opportunity to pay the premium upfront (at the inception of the policy) for the entire life of the plan and is not obliged to make further premium payments.

The latest bid prices of the funds offered by Adamjee Life Assurance Co. Ltd can always be viewed at the website of the company ( www.adamjeelife.com )

If allowed by you chosen life insurance plan, you can anytime increase the investment component of your plan by opting to pay Adhoc premium which is also known as fund accelerated premium.

As per income tax laws applicable in Pakistan, a resident individual, who derives income chargeable to tax can under the head “salary” or “income from business”, can obtain tax credit in respect of life insurance premium paid as per the following formula, provided he or she has not claimed any tax credit on purchase of units of mutual funds or newly offered listed equities.

Formula:

(A/B) x C

where

A is the amount of tax assessed to the person for the tax year before allowance of any tax credit.

B is the person’s taxable income for the tax year, and C is the lesser of –

  1. total premium paid
  2. twenty per cent of the person’s taxable income for the year; or
  3. one million rupees

You can be granted a loan facility by submitting loan request at you respective bank provided the period for which your policy has been active In-Force. Please note that the loan is subject to the terms and conditions of the company as specified in the policy provisions.

On survival of the Insured Person to the maturity date the policy is in full force, the company shall pay, as a lump sum, the Maturity Benefit due on that date as shown on policy schedule.

Partial withdrawal is a facility to provide you a part of fund of the policy. You may, at any time after the policy has acquired a Cash Value, request the Company to make partial withdrawal subject to your product terms and conditions.

If sufficient premium is not received by the due date, the policy status remains inforce for the grace period of 30 days.

When the premium is not paid within the days of grace provided after the due date, the policy lapses. The grace period is of 31 days.

The reinstatement of the policy requires initial following requirements.

Outstanding premiums

Declaration of Good Health Form duly signed by the Client/NMQ Form

*Reinstatement is subject to approval by our underwriting department

The premium can be conveniently paid using the following means:

  • Cheque
  • Pay order
  • Cash
  • Master/Visa card(Easy Paisa Service)

Customers, who are living abroad and yet continuing policy with us, can conveniently avail e-Services and pay using their own Master/ Visa card.

System generated payment receipts will be sent to your correspondence address once the payment is received at our end. However, in case the payment receipt is not delivered, you can get payment confirmation by emailing us on help_csd@adamjeelife.com

Assignment of an insurance policy is a transfer: for of all rights and liabilities to the insurance policy endorsing to assignee. This facility is being offered by Adamjee Life Assurance Co.Ltd.

To inquire about the assignment or in case of any further queries or concerns, feel free to contact our Customer Services Department via any of the following means: mentioned below:

Adamjee Life Assurance Co. Ltd, The Forum, 3rd Floor, Suite #323, Karachi.

111-11-(LIFE) – Help_csd@adamjeelife.com

In case you no longer want to continue with the policy, we recommend you to contact our Customer Services Department before making any surrender decisions. We will try to address your concerns and suggest you a time frame to surrender where your loss will be minimized. However, if you still want to surrender your policy, submit the following documents at the respective bank branch and Adamjee Life branch:

Surrender Form duly filled and signed by the Policy Owner

Original policy documents

Zakat Declaration (Duly Filled in all respects along with Stamped)

*Surrender cases are subject to Surrender Charges and Surrender Fees. Refer to the Surrender Charges Sheet attached with the Surrender Form.

Policy Number is the unique identity assigns to your policy however Client ID shows the number of policies has been issued on your ownership.

On survival of the Insured Person to the Maturity Date stated in the Policy Schedule and whilst the Policy is in full force, the Company shall pay, the Cash Value less any Indebtedness or recoverable amount.

In insurance, the insurance policy is a contract (generally a standard form contract) between the insurer and the policyholder, which determines the claims which the insurer is legally required to pay according to the policy terms and conditions. Policy documents are required to be submitted at the time of surrender, partial withdrawal or surrender and for lodging benefit for claim. Therefore, the documents must be retained in safe custody.

The person on whose lives the cover under this Policy is affected. This Policy may provide cover only in respect of a Main Insured Person or a Spouse or Child of the Main Insured Person where applied for by you in terms of this Policy. No Spouse or Child will be covered unless nominated by you and listed in the Policy Schedule. Persons who are not nominated in the Policy Schedule will not be covered in terms of this Policy. All nominations will remain in force until you notify the Company in writing of any change.

PProposal for insurance is the application made on prescribed company Performa by the policy owner / life assured for a life insurance policy from the company.

The sum assured is the amount of money an insurance policy guarantees to pay upon the death of the insured person. This is also known as the cover or the coverage amount and is the total amount for which an individual is insured.

Premium is an amount paid periodically to the insurer by the policyholder for covering his risk. For taking this risk, the insurer charges an amount called the premium.

A life insurance policy “illustration” is a set of projections, prepared by the actuarial department of the insurance company.(illustration values may vary) . Plan illustration is to be signed and submitted by the policyholder with proposal for insurance at the time of applying Life Assurance policy.

Once your proposal for insurance has been accepted ,A short message service (SMS) alert would be sent to your provided contact number. You will also receive your policy documents through courier / registered mail.

AL offers its clients the option to increase their yearly premiums by a certain percentage. This option can be exercised by the clients at any point in time during the term of the policy. Indexation can help the client counter act the effects of increasing inflation, periodic increase in savings amount, or any other reason that may benefit the client with increased financial security.

No penalties would be charged on reinstatement. If you wish to reinstate your policy, you will need to send us all the past due premiums along with duly filled and signed form by you.

The due date of the premium payment as stated in the Policy Schedule. The responsibility to pay the renewal premium lies on the policy holders; however we would help you in remembering the Renewal Date of your policy for your ease, we do send Renewal Notices and SMS one month before each Premium Due Date.

Cheque, Pay order, Cash, Online Transfer. You are requested to write your correct Policy Number at the back of the Cheque. You can also contact your sales agent/ consultant who would visit to collect your premium payment.

ASystem generated payment receipts will be sent to your correspondence address once the payment is received at our end. However, in case the payment receipt is not delivered, you can get payment confirmation by emailing us on help_csd@adamjeelife.com

You can know the policy status of your policy or clarify any of your queries by contacting at 111-115-433 or email us at help_csd@adamjeelife.com or use the Eservices portal to lodge a claim./p>

You can contact customer care for register your Email address for access E-services facility. After that you will receive E-services link on your provided Email address in which you’ll receive your login credentials.

The policy may be surrendered on any monthly due date, upon request by the policy holder. The amount payable on surrender shall be the net cash surrender value of the policy.

You can know the details of your policy such as Total premium paid, Cash Value, unit price, beneficiary details, Non-Financial Alteration request etc.

Frequently Asked Questions Takaful

Takaful is a mutual arrangement between the parties in which they agree to provide material assistance to one another or a group, in time of misfortune. It is a Shariah compliant way of safeguarding oneself against future financial losses. A Takaful membership assists Participants to share their risk based on cooperation, brotherhood, mutuality and solidarity for a common good.

The key components of Takaful are as follows:

Individuals in the community come together on a common platform and contribute into a Waqf Fund, operated by a Takaful Operator, to protect themselves against future financial losses.

The Takaful Operator acts as an ‘administrator’ of the Waqf Fund and carries out its role in the form of a Wakeel (Manager).

Any Participant who suffers or incurs a financial loss will be compensated from the Waqf Fund.

At the end of every year, any excess amount (Surplus) left in the Waqf Fund after paying off claims and meeting expenses and provision reserve may be distributed amongst the participants as per the advice of the Shariah Advisor and the Appointed Actuary.

No. Takaful is catered to all races, religion, and individuals who are interested to invest for protection of their loved ones.

The Window Takaful Operator is an organization, which manages Takaful Functions and takes up the responsibility of determining contribution amount, collection of contributions and paying claims to eligible Participants. In this role, the Window Takaful Operator charges ‘Wakala’ fee for its services.

Following are a set of controlling documents for Takaful:

Insurance Ordinance 2000

Insurance Rules 2007

Takaful Rules 2012

Securities and Exchange Commission of Pakistan is the regulator for all insurance and Window Takaful Operator in Pakistan.

Contribution means the amount payable by the participant to an operator under a Takaful contract for the membership of Waqf pool.

The term ‘Wakala’ (Agency) is derived from the word ‘Wakeel’ (Agent). It is the fee incurred by a Takaful Operator from the Participants Takaful Fund to manage the Takaful Fund.

Takaful is a mutual arrangement between the parties in which they agree to provide material assistance to one another or a group, in time of misfortune. It is a Shariah compliant way of safeguarding oneself against future financial losses. A Takaful membership assists Participants to share their risk based on cooperation, brotherhood, mutuality and solidarity for a common good.

The contributions are invested in Shariah compliant avenues i.e. Mutual fund, sukuk and equities duly approved by shariah adviser.