Copyright © 2021 . All rights reserved.
Last updated on: May 12, 2021
In today’s fast paced economy savings for the future needs of self and the loved ones have become difficult yet inevitable. Zamanat Savings plan offers you just that. Not only does it provides financial protection to your loved ones through life insurance coverage but also helps in managing your finances through savings so that you are able to meet your financial objectives.
In Zamanat Savings Plan be it your own retirement plan, savings for building your own house or just efficient management of your funds, Adamjee Life’s Zamanat Savings Plan is your one stop solution for all your financial planning.
With a minimum payment of Rs. 10 ,000, Zamanat Savings plan enables customers to boost their investments. These payments are 100 % allocate to the savings portion resulting in the required fund growth you can also choose to adjust regular premiums from top-up cash value subject to sufficient units being available in the top-up account value.
This is a value-added feature to cover the inflation impact. Your premiums will increase every year by 5% / 10 % of the previous years’ premiums with this option. The cash value will also increase accordingly.
Fund Details
Continuation Bonus
Other Benefits
Policy Terms & Eligibility
Basic Premium Payment Mode
Basic Premium Allocation
Charges
Disclaimer
FAQs
Riders Available
Fund Details
Premiums paid for Zamanat Savings plan are invested either in Investment Secure Fund, Investment Multiplier Fund or Amaanat (Islamic) Fund. You can choose to invest fully in one of the funds that suits 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.
To offer steady returns, the portfolio offers investment in a variety of Government and fixed income securities with minimal exposure in equities.
To offer maximum returns, the portfolio is diversified and balanced with a mix of equity investments, real estate, Government and fixed income securities.
A portfolio which offers investment in Shariah compliant equities, Government and fixed income securities.
Continuation Bonus
Zamanat Savings Plan rewards Regular premium payments and plan continuity in the form of continuation bonuses. The extra units are allocated to your account value. This extra unit allocation is in addition to the basic units of allocations. The Continuation Bonus allocation for Zamanat Savings plan is as follows:
The bonuses are payable subject to timely payment of basic premiums no less than the initial basic premium, given that no partial withdrawals or loan are taken during the term of the policy.
| On complete of Policy Year | % of Initial Basic Premium Allocated to Unit Account |
|---|---|
| 10 | 30% |
| 15 | 35% |
| 20 | 35% |
Other Benefits
In case of demise of the insured during the plan term, the sum assured or the Account Value whichever is higher less any indebtedness will be paid. The sum assured can be from 5 and up to 200 cover multiples of the basic annual premium.
At the time of maturity of the policy term the insured will get the amount equal to his/her account value less any indebtedness.
With a host of options to enhance your savings, Zamanat Savings plan enables the investors to save as per their requirement.
You can enjoy the benefits of Tax savings on life insurance by investing in Zamanat Savings Plan
To make sure that all your urgent monetary requirements are taken care of, the plan offers the option of making partial withdrawals from your account value after the plan has been enforce for at least 3 years. Partial withdrawals are limited to 50% of the Net Cash Surrender Value, subject to maintaining a minimum Net Cash Surrender Value of Rs. 10,000/-.
Policy Terms & Eligibility
| Minimum entry age | 18 years (Age nearest Birthday) |
| Maximum entry age | 70 Years (Age nearest Birthday) |
| Minimum policy term | 10 years |
| Minimum premium paying term | 10 years |
| Maximum Policy Term | up to age 85 years. |
| Max Paying Term | Equal to Policy Term |
Basic Premium Allocation
| Policy Year | % of Basic Premium Allocated to Unit Account | Surrender Charges as % of Unit Account Value |
|---|---|---|
| 1 | 45% | 100% |
| 2 | 80% | 50% |
| 3 | 100% | 25% |
| 4 & onwards | 100% | Nill |
Basic Premium Payment Mode
| Payment Mode | Min Basic Premium |
|---|---|
| Annual | 12,000 |
| Semi Annual | 6,000 (Rs. 12,000/- annually) |
| Quarterly | 4,000 (Rs. 16,000/- annually) |
| Monthly | 1,500 (Rs. 18,000/- annually) |
Charges
| Management Charges | An annual charge of 1.75% of the Cash Value deducted on a monthly basis |
| Administration Fees | Nil |
| Policy Fees | Nil |
| Bid/Official Spread | 5% of all premiums allocated to the unit account. |
| Surrender fee/ partial withdrawal: | Rs. 350/= |
Disclaimer
FAQs
Zamanat Savings plan is a unit linked plan offering life insurance protection and savings in a fund of your choice.
You can subscribe to Zamanat Savings Plan with a minimum of Rs.12,000 annual, Rs. 6,000 semi-annual, Rs.4,000 quarterly or Rs. 1,500 monthly premium
Zamanat Savings plan is available at selected National Bank of Pakistan Branches. National Bank Account holders who fall between the age limits of 18 – 70 years can apply for the plan. The maximum coverage age is 85 years.
For further queries you can contact Adamjee Life Assurance at (+9221) 111-115-433
Zamanat Savings plan offers a free look period of 14 days starting from the time the policy documents are received by the Insured..
Zamanat Savings Plan is being offered by Adamjee Life Assurance Company which is one of the leading life insurance companies in Pakistan.
Riders Available
On death of the insured person during the inforce term of this rider, the rider sum assured is payable.
On death or permanent and total disability of the insured person during the inforce term of this rider, a fixed monthly amount is payable for the remain- ing term of the rider.
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.
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.
On accidental death or permanent and total disability by accident of the insured person during the inforce term of this rider, the rider sum assured is payable.
On death of the insured person’s spouse during the inforce term of this rider, the rider sum assured is payable.
On occurrence of listed disease during the inforce term of this rider, the rider sum assured is payable
Copyright © 2021 . All rights reserved.
Last updated on: May 12, 2021