Smart Investments for your Child’s Education

Children are the most precious blessings of God. Every parent strives to provide their little ones a perfect life and give them all that they desire. The increasing cost of giving your son quality education or your daughter her dream wedding requires you to have a financial plan well in advance It is important to start planning as soon as possible, because the earlier you begin, the more time you allow your money to grow.

Adamjee Life Tameer Education Plan is a life insurance product of Adamjee Life Assurance Co. Ltd. for which MCB Ltd. is acting as an agent for promotion and distribution. The product was specifically designed as a saving tool to provide your children whatever they desire even in your absence. The plan assures that whatever happens in the future, your family will always have the means to pursue their goals in life.

Apply for MCB Adamjee Life Tameer Education Plan today

For further details please contact our Bancassurance Sales Manager / Officer, at one of the selected MCB Bank Branches, or call 111-000-622

Note

  • MCB Bank Limited is acting as a distributor of Adamjee Life Tameer Education Plan on behalf of Adamjee Life, and is not responsible in any manner, whatsoever, to the customer, his/her beneficiary/ies or any third party.
  • Adamjee Life is registered and supervised by Securities and Exchange Commission of Pakistan.
  • All MCB Adamjee Life Tameer Education Plan applications are processed and approved by Adamjee Life, as per their underwriting guidelines. MCB Bank Limited 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 policy. A detailed description of how the contract works is given in the ‘Terms and Conditions’, which will be provided after the customer(s) avail the service.

Basic Premium Allocation

Basic Premiums are allocated as per the schedule shown below

Certificate Year Allocation Percentages
1 50%
2 70%
3 and Onwards 100%

Benefits

  • Natural Death Benefit
    Sum Assured or Cash value whichever is higher less any partial withdrawals and Indebtedness.
  • Maturity Benefit
    (Cash Value Less any Indebtedness)
  • Optional benefits available through additional premium
    • Critical Illness
    • Spouse’s Rider
    • Waiver of Contribution Rider-Death
    • Waiver of Contribution Rider (WOP-Disability)
    • Monthly Income Benefit
    • Level Term Insurance
    • Accidental Death & Disability
  • Additional Benefits
    • Free built-in Pilgrimage Coverage
    • Monthly Annuity Benefit
    • Saving Booster
    • Partial Withdrawal
    • Inflation protection
    • Tax Benefit
  • Natural Death Benefit
    Sum Assured or Cash value whichever is higher less any partial withdrawals and Indebtedness.
  • Maturity Benefit
    (Cash Value Less any Indebtedness)
  • Optional benefits available through additional premium
    • Critical Illness
    • Waiver of premium Rider-Death
    • Waiver of Premium Rider (WOP-Disability)
    • Monthly Income Benefit
    • Level Term Insurance
    • Accidental Death & Disability
  • Additional Benefits
    • Continuation Bonus
    • Saving Booster
    • Partial Withdrawal
    • Loan Facility
    • Tax Benefit

Note: Additional benefits are subject to terms and conditions.

Free-Look Period

The plan offers you a free-look period of 14 days, in which you can cancel your policy by contacting Adamjee Life, and have your premium refunded. However, as per law, Adamjee Life reserves the right to deduct the expenses incurred on medical examination(s) of the Life Assured in connection with the issuance of this Policy.

Certificate Terms & Eligibility

  • Minimum Entry Age:18 years (Age nearest birthday)
  • Maximum Entry Age:70 years (Age nearest birthday)
  • Minimum premium payment Term:10 years
  • Maximum Policy Term: up to age 80 year

Payment Modes

  • Annually
  • Half Yearly
  • Quarterly
  • Monthly

Charges*

  • Management & Administration Charges: An annual charge of 1.75% of the Cash Value deducted on a monthly basis.
  • Bid/Offer Spread:5% of all premiums allocated to the Unit Account
  • Surrender Charges: PKR 500/-
  • Management & Administration Charges: An annual charge of 1.75% of the Cash Value deducted on a monthly basis.
  • Bid/Offer Spread:5% of all premiums allocated to the Unit Account
  • Surrender Charges: PKR 500/-

*All charges are reviewable by the Company