Himayat Al Usra Maximizer

Nowadays, it has become difficult for people to manage their wealth for good. There are people who manage to make money and become wealthy but are unaware of ways to make the most of their funds in a Shariah compliant manner. The term Himayat Al Usra Maximizer refers to a flexible and secure investment certificate with an added advantage of life protection that gives the participant access to a variety of professionally managed Unit Linked Growth Funds with the benefit of Family Takaful cover packaged in.

The certificate is beneficial for participants who seek capital appreciation with limited immediate liquidity needs. All Investments are mainly used to purchase units in the Funds. Himayat Al Usra Maximizer is a single investment certificate that gives the participant the option to choose a customized investment strategy according to their investment objectives and risk appetite.

The objective of the investment is to provide the customer with the convenient hassle free single investment option with the added advantage of Family Takaful Coverage. The purpose is to maximize the return for the participant by the strategically investing in one of two funds with different combinations of investments keeping in mind the individual risk appetite and return expectation. The certificate also provides death coverage to cater to the protection needs of the participant.

Why Himayat Al Usra Maximizer

  • Highly flexible Single contribution investment plan with benefit of Family Takaful Coverage packaged in
  • Attractive returns with choice of funds to match your risk appetite
  • Fully Shari’ah Compliant
  • Life Coverage of up to 10 times of Investment
  • Tax exemption benefits for businessmen and salaried Individuals
  • Continuation/ Loyalty bonus allocated to the participant after 5 years
  • No Redemption Charges
  • No Holding Period
  • Minimum Investment of PKR. 25,000 only
  • Diversified Investment Portfolio

Plan Details

  • Fund Details

  • Operational Details

  • Additional Benefits to Participants

  • Certificate Eligibility

  • Contribution Allocation

  • Charges

  • FAQs

  • Disclaimer

Fund Details

Fund Owners

Adamjee Life Assurance Company Limited-Window Takaful Operations.


Investment Objectives

Strategically investment in shariah compliant equity and debt markets with the objective of maximizing returns for the participant. 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

Contributions made towards the plan are invested in various investment vehicles including shariah compliant equities, fixed income instruments, bonds and other money market instruments. Diversification is achieved by selecting mix of instruments in order to optimize the returns.

Taameen Fund (Secure Fund)

Is a low to moderate risk profile fund that aims to generate stable and secure returns by investing mainly in Sukuk bonds and term deposit in Islamic Banks.

Maza’af Fund (Multiplier Fund)

Is a moderate to high risk profile fund that aims to generate higher returns over the long run by investing across a wide range of investments such as sukuk bonds, shariah compliant equities, Islamic mutual funds and term deposit in Islamic banks.

Fund Switch Option

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

Operational Details

Operational Details

Minimum Investment PKR 25,000
Maximum Investmet Unlimited
Minimum Sum Covered (Death Cover) Cover multiple 1.25
Maximum Sum Covered (Death Cover) Cover Multiple 10

Mr. Shiraz acquires “Himayat Al Usra Maximizer” certificate for an initial investment of PKR. 100,000, with cover multiple 5 as protection level. This would mean that incase of any unfortunate mishap Shiraz would enjoy a Family Takaful coverage of (100,000x 5) = PKR. 500,000 that his family would receive

The higher of the cash value or Sum covered will be paid to the beneficiary(ies).

Additional Benefits to Participants

Additional Benefits to Participants

Single Investment

Convenient, hassle free single payment option with the added advantage of Family Takaful

Fully Shari’ah Compliant

Complete Riba/ interest free investment/ saving opportunity in-line with Islamic principles and beliefs keeping in mind the recent increase in demand of Shari’ah compliant investment vehicles

Unique Cover Multiple Option

The participant has the option to choose his/ her own Family Takaful 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 Taxation on Capital Gains

In accordance with Income Tax Ordinance 2001, All investments in Insurance/Takaful 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/Family Takaful contribution paid on a life insurance/Family Takaful certificate held for a minimum period of 1 year subject to annual taxable income exceeding PKR. 4.55 million. The non-salaried/self-employed participant 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/Takaful contribution does not exceed 15% of the person’s taxable income for that year. Participants are advised to consult their tax advisor prior to making an investment decision

Free Look Period

The Participant is entitled to full refund in case it he/ she decides to cancel the Certificate within 14 days of issuance

Redemption/ Surrender Charges


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

Certificate Eligibility

Certificate Eligibility

Minimum Entry Age 18 years (Age nearest Birthday)
Maximum Entry Age 80 years (Age nearest Birthday)
Max Age of Cover 85th Birthday (not exceeding the maximum term of 25 years)

Contribution Allocation

Contribution Allocation

100% of all investment is allocated to your unit account. (After deduction of Bid/Offer Spread)



Charges Structure Adamjee Life- Window Takaful Operations retains the right to change these charges.

The distribution channel will be notified at least 1 month prior to any change (it will be given ample time to implement any changes).

Certificate Fee: Nil
Investment Management Charge: An annual charge of 1.75% of the PIF Cash Value deducted on a monthly basis.
Bid/Offer Spread: 5% of all Contributions allocated to the PIF Unit Account.
Cover Charges / Takaful Contribution: A Portion, 35% of Takaful Contribution will go to Operator’s Fund as PTF management fee.
Surrender Processing fee: Rs. 350/=
Fund Switching Fee: The first two switches in a Certificate Year are free. A charge of Rs. 300 will be made for any further switches in that Certificate Year.
Mudharib’s Share: 30% p.a on investment return of the WAQF.



Q1. What is Himayat Al Usra Maximizer?

Himayat Al Usra Maximizer is a unique investment cum protection certificate that provides you a hassle free one time investment option. In addition it gives you the freedom of choosing your own investment mix, from the available multiple investment Strategies, as per your risk and return appetite while the protection feature of the certificate provides you Family Takaful coverage from the moment you invest in the certificate.

Anyone between the age ranges of 18 to 80 years is eligible for this ideal investment package.

Q2. How does Himayat Al Usra Maximizer work?

100 % of your investment is used to buy units of the PIF at the applicable Offer Price. The fund management charges and cost of Family Takaful coverage (if any) are deducted on a monthly basis from your Account Value. The process will continue till the end of the elected term. On completion of term – the maturity date – accumulated account value will be paid to you in a lump sum.

Q3. How much is the bid/ offer spread or front end load?

5% of all Contributions allocated to PIF account.

Q4. Does the Certificate offer any free look period?

If you cancel your certificate within the free look period of 14 days from the certificate issue date, you are entitled for a full refund of contribution less any expenses incurred by Adamjee Life-Window Takaful operations (AL-WTO) in connection with your medical or clinical examinations.

Q5. What is the minimum or maximum investment limit?

Minimum acceptable investment amount is PKR 25,000. There is no limit of maximum fund contributions; hence you can plan your financial objectives with complete freedom.

Q6. Is there any redemption charge or back-end load?


Q7. When can I surrender the certificate?

You have the right to encash all the units in your PIF Account Value any time after the certificate becomes effective. In such an event, the units will be en cashed at Bid Price and the certificate will be terminated. But it is preferable to hold your investment for at least 2 years

Q8. What are the Fee & Charges related to this product?

The bank does not have any fees or charges related to this product. However AL-WTO would deduct annual management & admin charges as prescribed in the charge Structure.



  • This Family Takaful Product is a Shari’ah Compliant 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.
  • The investment risk shall be borne by the certificate holder and actual maturity or surrender values may be lower or higher than the projected figures.
  • All applications are processed and approved by ADAMJEE LIFE ASSURANCE COMPANY LIMITED – WINDOW TAKAFUL OPERATIONS, as per their underwriting guidelines. Faysal Bank Limited, Barkat Islamic Banking is not responsible for the processing and approval of these applications in any way, whatsoever.
  • Faysal Bank Limited, Barkat Islamic Banking is acting as an agent of ADAMJEE LIFE ASSURANCE COMPANY LIMITED – WINDOW TAKAFUL OPERATIONS, and is not responsible in any manner, whatsoever, to the customer, his/her beneficiary(ies) or any third party.
  • A personalized illustration of benefits will be provided to you by our sales representative. Please refer to the notes in the illustration for a detailed understanding of the various Terms & Conditions.
  • The brochure only provides an introduction to the benefits available under the certificate. A detailed description of how the Certificate works is given in “Participants’ Membership Documents – PMD” which will be provided after the customer avails the Certificate.
  • This product is a long term Shari’ah compliant product that is a combination of Islamic investment and Takaful. In the event of surrender before maturity period, you will be entitled to the cash value of your certificate at the time of surrender net of any applicable charges by the Takaful Operator.
  • In case of any grievance regarding your Family Takaful Certificate, you may contact the Adamjee Life-Window Takaful Operations on below mentioned contact details or for any service related complaints, you may call bank customer interaction center at 111 06 06 06 or visit your nearest branch.