Future Assure

MCB Future Assure

A universal life contract where net basic premiums are invested over the term of the contract and interest is credited to the insured’s account on a monthly basis. The yield on underlying assets is determined at least annually and the amount credited is based on the yield. Premiums for supplementary contracts are additional to the basic premium and are not part of the insured’s account value which is primarily for investment purposes.On death of the insured person during the in force term, the greater of the Account Value or Sum Assured will be payable. On survival of the insured person to maturity the Account Value will be payable.

Why Future Assure

Account Value Build-up

Contributions made towards the plan are invested in various investment vehicles that optimize the returns for the customer. The returns earned after deduction of monthly admin and investment management charges are credited to the account balance and accumulate as the policyholder’s cash value. These investments 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.

Plan Details

Plan Benefits

Protection Benefit

In case policy owner dies during the term plan, the greater of Account Value less any partial withdrawals or indebtedness or Sum assured, will be payable.

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.

Investment Booster: (Ad-Hoc)

By depositing a minimum payment of Rs. 10,000 (over and above your regular premium) you can enhance the growth of your invested capital through Investment Booster. Investment Booster payment which has no upper limit will be allocated at 97% in the unit account and can be made & withdrawn anytime during the plan term to boost your accumulated cash value.

Partial Withdrawal

You have the option to make partial withdrawals from your account value after the policy has run for at least one year.

Complete Surrender

You may also surrender your policy any time after the payment of two full years’ premium during the life of the policy and get your surrender value. The surrender value equals total cash value less surrender charges.

Loan

You can take a loan of up to 50% of the net cash surrender value, which is the Account Value minus surrender charge.

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 sum assured will also increase accordingly.

Optional Benefits:

Level Term Insurance Rider (LTR)

This feature guarantees a lump sum amount payable to your chosen beneficiary in case of death due to accident or sickness.

Monthly Income Benefit

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.

WOP-Death:

On Death of the insured person, Adamjee Life will pay the initial (un-escalated) basic premium for the remaining term of the rider.

WOP-Disability:

On permanent and total disability of the insured person, Adamjee Life will pay the initial (un-escalated) basic premium for the remaining term of the rider.

Accidental Death & Disability:

On accidental death or permanent and total disability by accident of the insured person during the in force term of this rider, the rider sum assured is payable.

Policy Term and Eligibility

Minimum entry Age	18 years (Age nearest birthday)
Maximum entry Age	75 Years (Age nearest Birthday)
Minimum Policy Term	10 years
Maximum Policy Term	40 years or up to age 85 years
Minimum Premium Payment Term	5 years

Basic Premium and Payment Modes

Minimum basic premium

Monthly	PKR 3,000
Semi-Annual	PKR 8,000
Quarterly	PKR 8,000
Annual	PKR 8,000

Payment Frequency

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	50%
2	75%
3	90%
4	95%
5 onwards	100%

Charges

Investment Management Charges	1.75%
Administration Fee	PKR 100 per month; increased in line with CPI
Flat Surrender/ Partial Withdrawal fee:	PKR 350/.

Policy Year	Surrender Charges as % of Unit Account Value
1	100%
2	50%
3 & onwards	Nil

Disclaimer

MCB Ltd. Is acting as a distributor of Future Assure on behalf of Adamjee Life Assurance Company Limited, and is not responsible in any manner, whatsoever, to the customer, his/her beneficiary/ies or any third party.
All MCB Future Assure applications are processed and approved by Adamjee Life, as per our underwriting guidelines. MCB Ltd. Is not responsible for the processing and approval of these applications in any way whatsoever.
This brochure only provides 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

Loyalty Bonus

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 allocations 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
7	25%
12	75%
17	150%
25	200%

Fund Detail

NUIL Fund

To offer steady returns, the portfolio offers investment in Government and fixed income securities with exposure in equities.