Investment Options

Optional Benefits

Minimum Investment: PKR 200,000 Surrender Charge: PKR 350

Maximum Investment: Unlimited

Minimum Sum assured (Death Cover): Cover multiple 1.25 Maximum Sum Assured

(Death Cover): Cover Multiple 10

Additional Benifits

Single Investment

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

Islamic Fund Option

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

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 Taxation on Capital Gains

In accordance with the Income Tax Ordinance 2001,all investments in Insurance are exempt from capital gain tax Tax rebate for businessmen and salaried individuals You can enjoy the benefits of Tax savings on life insurance by investing in the plan.

Free Look Period

The customer is entitled to full refund of premium (less any expenses incurred by Adamjee Life in connection with your medical or clinical examinations) in case he/ she decides to cancel the policy within 14 days of issuance.

Redemption Charges

If the investment is redeemed within the first eleven months of issuance a surrender charge of 3% of unit account value is applicable, 2% from 12th to 23rd month,1% from 24th to 30th month and 0% afterwards

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.

Partial Withdrawal

Partial withdrawals can be made by the investor from his/her fund anytime 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.

The Policyholder may make partial withdrawals from his/her fund with applicable surrender penalty in the first 30 months thereafter it can be withdrawn without any penalty.

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.

Plan Eligibility

Min entry age: 18th Birthday Max entry age: 75th Birthday Max age of cover: 80th Birthday Min Cover Term: 3 years

Basic Premium Allocation<

100% of all investment is allocated to your unit account without any deduction. Deductions are only made on redemption during first 30 months.

Charges

Disclaimer

• Shandar Sarmaya 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.
• All Shandar Sarmaya Plan applications are processed and approved by Adamjee Life, as per their underwriting guidelines.
• 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.
• Customers are advised to read the details of Investment Secure, Investment Multiplier and Amaanat Fund thoroughly before investing especially the investment objective and strategy sections.
• • Shandar Sarmaya is a Unit Linked Plan which is subject to investment risk. The investment risk shall be borne by the policy holder and actual maturity and surrender values may be lower or higher than the projected figures./li>
• 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 Adamjee Life Assurance Ltd., will not 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.

FAQs

Q1. What is Shandar Sarmaya?

Shandar Sarmaya is a unique investment cum protection plan 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 plan provides you life insurance coverage from the moment you invest in the plan.

Anyone between the age ranges of 18 to 75 years is eligible for this investment package.

Q2. How does Shandar Sarmaya work?

100 % of your investment is used to buy units of the chosen Investment Strategy and Fund at the applicable Offer Price. The fund management charges and cost of insurance (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 or in the form of an annuity if selected.

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

A marginal 5 % bid / offer spread will be charged from the customers.

Q4. Does the Plan offer any free look period?

If you cancel your plan within the free look period of 14 days from the plan issue date, you are entitled for a full refund of premium less any expenses incurred by Adamjee Life in connection with your medical or clinical examinations.

Q5. What is the minimum or maximum investment limit?

Minimum acceptable investment amount is PKR 200,000. 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?

If the customer redeems his invested amount before 11 months a charge of 3 % of invested amount is applicable, 2% from 12th to 23rd month,1% from 24th to 30th Month and no redemption charges are applicable after 30th month.

Q7. When can I surrender the plan?

You have the right to encash all the units in your Account Value any time after the plan becomes effective. In such an event, the units will be encashed at Bid Price after taking into account the surrender charges if applicable and the plan will be terminated. But it is preferable to hold your investment for at least 3 years.