MCB Invest for Life

The objective of the investment is to provide the customer with convenient hassle free single investment option with the added advantage of life insurance. The purpose is to maximize the returns for the investor by strategically investing in a fund with a combination of investment instruments keeping in mind the individuals risk appetite and return expectation. The plan also provides built in natural and accidental death coverage to cater to the protection needs of the customer.

Invest for Life is a flexible Single premium unitized investment linked assurance plan that gives the investor access to professionally managed Unit Linked Funds with the benefit of life insurance cover packaged in. Free accidental death coverage of twice the investment amount is also provided. Premiums/ Investments are mainly used to purchase units in the Funds. Additionally, the individual has to make just a onetime investment and the policy will continue till the 85th birthday. To cater to the investors changing needs, the plan provides many flexible options such as altering his/her investment and protection level, topping up, switching among Unit Funds, etc.

Why Invest For Life

  • Highly flexible single payment investment plan with the benefit of life insurance packaged in
  • Attractive returns with a fund to match your risk appetite
  • Continuation /Loyalty Bonus allocated to the investor after every 5 years
  • Unique ad-hoc investment option with 100%-unit allocation and no upper limit
  • Tax credit on the investment made subject to limits as per the Income Tax Ordinance 2011
  • Free built in Accidental Death cover
  • Partial withdrawal option

Plan Details

  • Fund Details

  • Operational Details

  • Additional Plan Benefits

  • Plan Eligibility

  • Basic Premium Allocation and Surrender Charge

  • Bonus Allocation

  • Charges

  • Disclaimer

Fund Details

Fund Name

Investment Secure Fund-II: Debt Fund

Investment Strategy

Investment Secure Fund II

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

Operational Details

Operational Details

Minimum Investment: PKR 25,000
Maximum Investment: Unlimited
Minimum Sum assured (Death Cover): Cover multiple 1.25
Maximum Sum Assured (Death Cover): Cover Multiple 10
EXAMPLE 1:

Mr. Ahmed acquires “Invest for Life” plan for an initial single investment of PKR. 50,000, with cover multiple 5 as protection level. This would mean that incase of any unexpected event Mr. Ahmed would enjoy a life coverage of (50,000x cm5)= PKR. 250,000 that his family would receive. The higher of the cash value or Sum assured will be paid to the beneficiaries.

Additional Plan Benefits

Additional Plan Benefits

Single Investment

Convenient, hassle free single payment option with the added advantage of life insurance.

Free Accidental Insurance

The plan also provides built in natural and free accidental death coverage to cater to the protection needs of the customer and his family.

No Back- End Load

No exit charges are applicable at the time of withdrawal after 6 months.

No Taxation on Capital Gains

In accordance with Income Tax Ordinance 2011, All investments in Insurance are exempt from capital gain tax.

Tax Credit for Individuals

According to the current provisions of Income Tax Ordinance 2011, salaried individuals can avail a tax credit of up to PKR 100,000/- in respect to any life insurance premium paid on a life insurance policy held for a minimum period of 1 year subject to annual taxable income exceeding PKR. 4.55 million. The non-salaried/self-employed investor can also avail the tax credit of up to 125,000/- where the taxable income for the year exceeds Rs. 1.5 million, provided that the total insurance premium does not exceed 15% of the person’s taxable income for that year. Investors are advised to consult their tax advisor prior to making an investment decision.

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.

Accidental Death Cover

The family of the insured would receive twice the investment amount with upper limit of 5 million. Accidental coverage will be provided till the 70th birthday.

Partial Withdrawal

Partial withdrawals can be made by the investor from his/her fund after the policy has been enforce for at least 6 months 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. 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.

Investment Booster (Ad-hoc)

With the investment booster feature the customer has the option to invest additional amount at any time to the fund account to boost his/her maturity returns.

  • Min Amount: PKR 25,000
  • Max Amount: Unlimited

Plan Eligibility

Plan Eligibility

Min entry age 18th Birthday
Max entry age 70th Birthday
Max age of cover 85th Birthday (not exceeding the maximum term for 25 years)

Basic Premium Allocation and Surrender Charge

Basic Premium Allocation and Surrender Charge

Investment only has to be made one time in advance.

Plan Year % of basic premium allocated to unit account Surrender/ redemption Charges as % of Unit account value (first 6 months)
1 100% .5%

Bonus Allocation

Bonus Allocation

The longer you continue the plan without utilization of partial withdrawal, the higher rewards you gain in the form of generous loyalty bonuses. A loyalty bonus comes in the form of extra units added to your account value at the end of every 5 years to accelerate growth of your funds.

Plan Year % of initial basic premium allocated to unit account
5 1%
10 2%
15 3%
20 4%

Charges

Charges

Management & Admin charges 1.6%
Surrender fee/ Partial Withdrawal fee PKR 350 per annum
Bid/Offer Charges 3% of all premiums allocated to the Unit Account

Disclaimer

Disclaimer

  • Invest for life 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 Invest for Life on behalf of Adamjee Life Assurance and is not responsible in any manner whatsoever to the customer, his/her beneficiary/ies or any third party.
  • All MCB Invest for Life 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 an introduction to the benefits available under the plan. 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.