Shelter for Life Maximizer

Investment opportunities that best match your requirements are necessary for complete financial security for you and your family. Therefore, Adamjee Life Assurance Co. Ltd. through a distribution agreement with Faysal Bank Ltd. brings Shelter for Life Maximizer that combine long-term & short-term savings and comprehensive life insurance coverages, specially designed for you to focus on your goals and maximize savings for future.

Why Shelter for Life Maximizer

  • Highly flexible single payment insurance and investment plan
  • Attractive returns with a choice of three different funds to match your risk appetite
  • Tax credit on the investment as per the Income Tax Ordinance 2001 and subsequent changes through Finance Act.
  • Life protection cover of up to 10 times your investment amount
  • There are No redemption charges in this product
  • 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.
  • Regular fund re-balancing to maintain the correct risk/return characteristics over time.

Plan Details

  • Plan Benefits

  • Funds Details

  • Premium Allocation Structure & Surrender Charges

  • Policy Term and Eligibility

  • Basic Premium

  • Charges

  • Disclaimer

Plan Benefits

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.

No Taxation on Capital Gains

In accordance with Income Tax Ordinance 2001, All investments in Insurance are exempt from capital gain tax

Professional Fund Management

The returns earned after deduction of risk, monthly administration 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, market trends and investment opportunities.

Free-Look Period

Adamjee Life offers a free look period of 14 days during which you can review your policy terms and conditions and cancel the policy if needed. Your premium will be refunded on receipt of written request within 14 days from the date of receipt of the policy document. Please note that Adamjee Life reserves the right to deduct the expenses incurred on medical examination.

Partial Withdrawal

Partial withdrawals can be made by the investor from his/her fund any time after 6 months of the plan term 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 subject to maintaining a minimum Net cash surrender value of Rs. 10,000. When a partial withdrawal is made, the amount of partial withdrawal will be deducted from both the net cash surrender value and the sum assured of the policy.

Tax Rebate for Businessmen and Salaried Individuals

As per section 62 of Income tax ordinance, 2001 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.


(A/B) x C


A is the Tax liability of the person before allowance of any tax credit

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

(a) total premium paid

(b) twenty per cent of the person’s taxable income for the year; or

(c) one million rupee

Funds Details

Funds Options

Dynamic Secure Fund

To offer steady returns, the portfolio offers investments primarily in Government and fixed income securities

Dynamic Growth Fund

To offer high returns, the portfolio offers investment in a mix of equity investments, Government and fixed income securities.

Investment Multiplier Fund

To offer maximum returns, the portfolio is diversified and balanced with a mix of equity investments, real estate, Government and fixed income securities.

Premium Allocation Structure & Surrender Charges

Allocation Structure & Surrender Charges:

Policy/Premium Year % of Basic Premium Allocated to Unit AccountSurrender Charges as % of Unit Account Value
1 96 Nil

Policy Term and Eligibility

Policy Term and Eligibility

Minimum Entry Age 18 years (Age nearest Birthday)
Maximum Entry Age 80 Years (Age nearest Birthday)
Minimum Cover Term 3 Years
Maximum Coverage Term: up to age 85 Exact
Minimum Sum Assured (Death Cover) Cover multiple 1.25
Maximum Sum Assured (Death Cover) Cover Multiple 10

Basic Premium

Basic Premium

Minimum Premium PKR 25,000
Maximum Premium Unlimited



Management & Admin charges An annual charge of 1.75% of cash value to be deducted on monthly basis.
Bid/Offer Spread Nil
Surrender charges Nil
Fund Switching The first two switches in a Policy Year are free. A charge of Rs. 300 will be made for any further switches in that Policy Year.
Partial Withdrawal Fee/ Surrender Charges Rs. 350/-



  • Shelter for Life Plans 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.
  • Faysal Bank is acting as an agent on behalf of Adamjee Life, and is not responsible in any manner, whatsoever, to the customer, his/her beneficiary/ies or any third party.
  • Depending upon the performance of the underlying investments in the fund, the cash values may be higher or lower than the ones shown in the table.
  • The past performance of the fund is not necessarily a guide to future performance. Any forecast made is not necessarily indicative of future or likely performance of the funds and neither Adamjee Life Assurance Ltd., nor Faysal Bank Limited will incur any liability for the same.
  • 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 and Conditions.
  • All service charges and taxes will be applicable as per the Bank’s “Schedule of Charges” and taxation laws as stipulated by the relevant authorities.
  • All Shelter for Life applications are processed and approved by Adamjee Life, as per their underwriting guidelines. Faysal Bank 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.
  • This product is a long term product that is a combination of investment and insurance. In the event of surrender before maturity period, you will be entitled to the cash value of your policy at the time of surrender net of any applicable charges by the insurance company.
  • In case of any grievance regarding your insurance policy, you may contact the Insurance Company on below mentioned contact details or for any service related complaints, you may call our contact centre at 111 06 06 06 or visit your nearest branch