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MCB Save and Assure
Because peace of mind has no price.
Be it a comfortable lifestyle, the well being 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'.
Savings Care
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.
1. Saving Booster:
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 Saving Booster payment will be allocated at 103% in the unit account and can be made & withdrawn anytime during the plan term to boost your accumulated cash value.
2. Loan:
You can take a loan of up to 50% of the net cash surrender value, which is the Account Value minus surrender charge.
3. Inflation protection:
This is a value-added feature to cover the inflation impact. Your contributions will increase every year by 5% or 10% of the previous years' contributions with this option. The cash value will also increase accordingly.
4. Investment Options:
Investment Secure Fund: Is a moderate to low risk profile fund that generates stable & secure returns by balancing the investment in long term money market investments including Govt. securities and bonds as well as equities.
Investment Multiplier Fund: is a moderate to high risk profile fund that generates higher returns over the long run with a mix of investments in equities along with money market instruments.
You are entitled to two initial free fund switches at anytime during the every plan year and each subsequent switch would be charged at Rs.300.
5. Continuation Bonus:
As you continue the plan for longer term you will gain the higher rewards in terms of Continuation Bonuses. The extra units will be allocated to your account value this extra unit allocation is in addition to the basic units of allocations. The Continuation bonus allocation is as follows:
| Policy Year | Continuation Bonus Unit Allocation as % of Basic Premium to Account Value |
| 5 | 10% |
| 10 | 20% |
| 15 | 25% |
| 20 | 30% |
Health Care
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.
1. Critical Illness Rider (CI):
A lump sum benefit is paid to you in case you are diagnosed with one of the listed 20 diseases during the enforce term of this rider. This lump sum benefit is additional to your main plan benefit.
2. Accidental Death and Accidental Disability Benefit (AD&D):
A lump sum benefit is paid to you or your chosen beneficiary in case of accidental death or accidental permanent disability.
Family Care
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.
1. Spouse Protection Rider (SPR):
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.
2. Monthly Income Benefit Rider (MIB):
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.
3. Level Term Insurance Rider (LTR)
This feature guarantees a lump sum amount payable to your chosen beneficiary in case of death of insured person.
4. Waiver of Premium Rider-Death (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.
5. Waiver of Premium Rider-disability (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.
Other Benefits
1. Choice of Insurance coverage:
You have the option to Choose from the different levels of life insurance through protection multiple for the same amount of premium.
2. Protection Benefit:
In case the policy owner dies during the plan term, the sum assured or accumulated account value whichever is higher less any partial withdrawals and indebtedness, will be paid to the beneficiary (ies).
3. Plan Maturity Benefit
At the time of maturity of the policy term the insured will get the amount equal to his/her account value.
4. Free- Look Period
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.
Account Value Build-Up
Contributions made towards the plan are invested in either of Investment Secure Fund or Investment Multiplier 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.
Policy Terms & Eligibility
| Minimum entry age: | 5 years (Age nearest birthday) |
| Maximum entry age: | 70 years (Age nearest birthday) |
| Minimum policy term: | 05 years |
| Minimum premium paying term: | 05 years |
| Maximum Policy Term: | up to age 85 years |
Basic Premium & Payment Modes
| Minimum basic premium: | PKR 8,000 (annual, Semi annual & quarterly) PKR 3,000 (monthly) |
| Payment modes: | Annual, Semi-annual, Quarterly & Monthly |
Basic Premium Allocation
As you continue the policy towards its full term, your Account Value will be credited with a proportion of Basic Premiums that you pay in. The proportions allocated to your Account Value will be as follows:
| Policy Year | % Allocation of Basic Premium to Account Value |
| 1 | 40% |
| 2 | 80% |
| 3 onwards | 100% |
Charges
| Management charges: | 160 basis points of annual yield (1.6%) |
| Administration Fee: | Nil |
| Policy Fee: | Nil |
| Bid/Offer Spread: | 5% of net regular premium |
Apply for MCB Save n Assure today, and make your 'Har Pal Mehfooz'.
For further details please contact our Bancassurance Sales Manager / Officer, at one of the selected MCB Branches. You can also call 111-000-622 or visit www.mcb.com.pk/bancassurance
Note:
* Save n Assure 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 Save n Assure on behalf of Adamjee Life, and is not responsible in any manner, whatsoever, to the customer, his/her beneficiary/ies or any third party.
* Adamjee Life is registered and supervised by Securities and Exchange Commission of Pakistan.
* All MCB Save n Assure applications are processed and approved by Adamjee Life, as per their underwriting guidelines. MCB Ltd. is not responsible for the processing and approval of these applications in any way, whatsoever.
* This brochure only provides an introduction to the benefits available under the policy. A detailed description of how the contract works is given in the 'Terms and Conditions', which will be provided after the customer avails the service.