Efu Takaful Asaan Bachat Plan

EFU Life – Window Takaful Operations brings to you EFU Takaful Asaan Bachat Plan (Savings Plan). A plan that gives you financial security for your family with investment in Shariah complaint portfolio and rewards you with a lifestyle you have dreamt. This plan is an economic way of achieving your financial objective without compromising on religious values.

Benefits:

Death Benefit: In case of an unfortunate event of death during the Membership term, the Takaful benefit will be payable as follows:

• The greater of the Sum Covered OR Cash Value of units against basic contribution
  Plus
• The Cash Value of units allocated against the Fund Acceleration Contributions.

Maturity Benefit: At the end of the membership term and whilst the participant is alive, the maturity benefit will be payable as follows:

• The Basic cash value of Participant’s Investment Account (PIA) Plus
• The cash value from Fund Acceleration Contributions in the Participant’s Investment Account.

Contribution Allocation:

Year-wise allocation percentages of the participant’s contribution are shown in the table below:

Note: For a better understanding in making your selection according to your savings and needs, you may contact representatives at your nearest Habib Metropolitan Bank Limited branch.

Eligibility

The plan is available to all Habib Metropolitan Bank Limited customers between 18 to 65 years of age.

Fund Acceleration Contribution (FAC):

In case the Participant has extra funds available, the plan provides the flexibility to channel these to the Plan and provide a boost to the savings. These lump sum contributions are called Fund Acceleration Contributions (FAC) and can be paid anytime during the year where policy is active. The minimum FAC payable is PKR 20,000 per payment.

Tax Rebate:

You can save up to 20% of your taxes and get takaful coverage. On EFU Life website, you can use tax credit calculator to find the amount you can save. For more details visit below link:

https://www.efulife.com/m/taxcalculator/indexCopy.php

Claim:

In case of an unfortunate event, you may file your claim intimation through any HMB Branch walk in (in case of Bancassurance Policies), visiting the EFU Head Office or by visiting any of the EFU branches in the country. For a swift speedy process, you may also call us at our call center (021-111-338-436) or simply
visit our website, fill in the intimation form and email it to us at cod@efuhemayahtakaful.com. Thereafter, you will be contacted for next steps.

Disclaimer:

This product is underwritten by EFU Life – Window Takaful Operations.It is not guaranteed or insured by or its affiliates and is not a product of Habib Metropolitan Bank. Hence EFU Life – Window Takaful
Operations is responsible for all underwriting risk.

Brochure – English

Brochure – Urdu

Unit link EFU Life – Window Takaful Operations brings to you Efu Takaful Kamyab Mustaqbil Plan In order to give better education and dream marriage to your children you put all your effort and want them to achieve 100% success in every challenge that they will be facing in future. you will require a suitable financial plan that ensures you don’t compromise on your goals of your child’s future. EFU Life – Window Takaful Operations presents EFU Takaful Kamyab Mustaqbil Plan (Education & Marriage plan) which will help you to save systematically so that you can secure your child’s future needs.

Membership Eligibility

The plan is available to all HabibMetro Bank Limited customers between 18 to 65 years of age.

Basic Plan Contribution

The minimum annual basic Contribution is 20,000/. Customer can pay his/her Contribution in different mode, Annual, semi-annual, Quarterly and Monthly.*There is no maximum limit for the Contribution.

Adhoc

In case the Participant has extra funds available, the plan provides the flexibility to channel these to the Plan and provide a boost to the savings. These lump sum contributions are called Fund Acceleration Contributions (FAC) and can be paid anytime during the year where Membership is active. The minimum FAC payable is PKR 20,000 per payment. 100% of FAC payment is allocated to purchase units.

Unit Allocation

Basic Contributions are allocated as per the schedule shown below.

Note: For a better understanding in making your selection according to your savings and insurance needs, you may contact representatives at your nearest HabibMetro Bank Limited branch.

Funds

Membership holder has no option to select a unit fund based on his risk preferences and investment objective at the Membership inception. The funds available are:

• Takaful growth Fund (Balanced Fund and Risk profile is Medium).
• Takaful Aggressive Funds (Aggressive Fund categories and risk profile is high).
• Takaful Conservative Growth Fund (Income Fund and Risk profile is low).
• Multiple Fund (Under this option customer have a facility to select a mix of two unit linked funds of the plan, its mean that the funds split can be of 90/10, 80/20, 70/30,60/40,50/50).

Product Charges

Application charges are as follows:

Benefits:

Continuation Benefit: In the unfortunate event of death prior to the maturity of the plan, you would want to make sure that the future plans for your children are still fulfilled. The Continuation Benefit which is built into
the plan will ensure that all future contributions will be paid by the PTF following the participant’s death until the plan’s maturity date. This means that the funds that you had planned for will still be available for your children.

Maturity Benefit: At the end of the membership term and whilst the participant is alive, the maturity benefit will be payable as follows: The Basic cash value of Participant’s Investment Account (PIA) Plus The cash value from Fund Acceleration Contributions in the Participant’s Investment Account.

Surrender

Membership holder has the option to surrender his membership before the completion of membership term, customer will receive current cash value of underlying units in the membership (after deduction of all applicable charges) which may be less than the total contribution paid. customer also have the facility of partial withdrawals that may be exercised by leaving a minimum balance (residual value) in the cash value.

Optional Rider

Takaful Accidental Death and Disability Plus Benefit*: This rider provides an additional lump sum benefit in case of an accidental death or disability (permanent & total) that makes you permanently disabled.

Takaful Income Benefit: This benefit ensures that a monthly income is paid to the family in case of the unfortunate death of the participant during the plan term.

Pilgrimage Benefit During the Plan term, if the Participant travels for religious pilgrimage, EFU Life – WTO offers coverage on death due to an accident while performing pilgrimage (Hajj, Umrah or Ziarat- religious journey etc.) The coverage under this accidental benefit will be 100% of the Main Plan Sum Covered, subject to a maximum limit of PKR 1,000,000. This feature will be applicable for an additional period of 13 months from the date of maturity or from the date of full surrender.

Takaful Waiver of Contribution Benefit:

In case the individual is unable to follow his/her occupation due to disability because of sickness or accident, the contribution of the plan would be made by WAQF Fund/PTF managed by EFU Life-WTO.

Takaful Return of Contributions Benefit The Return of contribution Benefit is a unique rider offered to prospective EFU Hemayah Takaful participants. This rider enhances your coverage by giving you an extra benefit. In an unforeseen event of death of the life covered, the beneficiary will not only receive the death benefit, but will also be able to receive the total amount of paid contribution as a benefit from the Waqf fund (PTF) excluding the contribution paid for the ROCB rider.

Disclaimer

Habib Metropolitan Bank is just a promoter/ distributor and corporate agent of this product to its valued customers