Shandar Sarmaya

Unlike most types of life insurance that require ongoing premium payments for the policy to remain in force, with Adamjee Life Shandar Sarmaya Plan you are only required to make a single premium payment and the plan will remain valid for the term selected or your 80th birthday whichever comes first. Shandar Sarmaya Plan generates consistent income through superior yields on its investments at moderate levels of risk through a diversified investment approach.

Why Shandar Sarmaya

  • Highly flexible single payment investment plan with the benefit of life insurance packaged in attractive returns with choice of funds to match your risk appetite
  • Only a marginal 5% bid/offer spread
  • Islamic fund (Amaanat) option
  • Choice of investing in three separate funds with different investment mix based on your risk appetite and religious beliefs
  • Tax credit on the investment made subject to limits as per the Income Tax Ordinance 2011 and subsequent changes through Finance Act
  • Life protection cover of up to 10 times of your investment amount Partial withdrawal option, after policy has been enforced for 6 Months

Plan Details

  • Fund Details

  • Optional Benefits

  • Additional Benifits

  • Plan Eligibility

  • Basic Premium Allocation

  • Charges

  • Disclaimer

  • FAQs

Fund Details

Investment Options

Investment Objectives

Strategically invest in equity and debt markets with the objective of maximizing returns for the investor. Funds are managed by a team of expert investment managers, who adjust the investment mix in light of economic conditions and investment opportunities.

Contributions made towards the plan are invested in various investment vehicles including equities, fixed interest instruments, bonds and other money market instruments. Diversification is achieved by selecting mix of instruments in order to optimize the returns. The three investment fund options for customers are:

Investment Secure Fund

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

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.

Amaanat (Islamic) Fund

A portfolio which offers investment in Shariah compliant equities, Government and fixed income securities.

Optional Benefits

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

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

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

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 Management & Admin charges: An annual charge of 1.75% of cash value to be deducted on monthly basis Back-end Load/ Redemption Charges.

Policy Month Surrender/ redemption Charges as % of Unit account
1st to 11th 3%
12th to 23rd 2%
24th to 30th 1%
31st Month and Onwards 0%



  • 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.



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.