Adamjee Life Tameer Education Plan
Smart Investments for your Child’s Education
It is the dream of every parent to ensure that his or her children wishes and future is secure. The expenses of higher education and matrimonial expenses put extreme financial burden on the entire family. It is best to plan ahead and start savings today.
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.
Disclosure of Product: This is a life insurance product which has two distinct elements i.e. Insurance Protection and Investment. The Investment Component is linked to the performance of underlying assets under unit-linked fund(s).
Unit Allocation & Surrender Charges:
Following is the proportion of basic plan allocated to investment:
| Policy Year | Allocation Percentages | % of Basic Premium Allocation Charge | Surrender Charges as % of Unit Account Value |
|---|---|---|---|
| 1 | 55% | 45% | 100% |
| 2 | 70% | 30% | 50% |
| 3 & Onwards | 100% | Nil% | Nil% |
| Policy Year | Continuation Bonus Unit Allocation as % to Basic Premium to Account Value |
|---|---|
| 5 | 10% |
| 7 | 25% |
| 10 | 100% |
| 15 | 100% |
| 20 | 100% |
Key Benefits:
- Protection Benefit
- Choice of Insurance Coverage
- Maturity Benefit
- Saving Booster (Ad-hoc Premium)
- Loan Facility
- Partial Withdrawal
- Inflation Protection (Optional)
- Accidental Death & Disability Benefit
Free Look Period:
The plan offers a free-look period of 14 days during which you can cancel your policy by contacting Adamjee Life, and have your premium refunded. However, 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 (if any).
Fund Management:
-
Low or Conservative Risk Funds:
Investment Secure Fund (Income Fund): Low risk fund with aim to offer regular and steady returns from investment in wide variety of fixed income securities including bank deposits, government Securities etc without any exposure to corporate bonds and equities.
-
Moderate to High Risk Funds:
Investment Multiplier (Aggressive Fund): High risk fund with aim to earn higher returns in medium to long term by investing in diversified mix of equities, fixed income instruments and real estate.
Amaanat Fund (Balanced Fund): Medium Risk fund with aim to provide growth in investment value by investing in shariah compliant debt instruments, equities and real estate.
Managed Growth Fund (Balanced Fund):Medium risk fund with aim to provide growth in investment value by investing in fixed income instruments, equities and real estate.
Policy Eligibility:
- Minimum Entry Age: 18 years (Age Next Birthday)
- Maximum Entry Age: 70 years (Age Next Birthday)
- Minimum Policy Term: 10 years
- Maximum Policy Term: 40 years or up to age of 80 exact, whichever comes first.
- Maximum Paying Term: Equal to cover term
Payment Modes:
| Mode | Minimum Basic Premium |
|---|---|
| Annually | Rs. 20,000/ |
| Semi-Annually | Rs. 15,000/- (Rs. 30,000/- annually) |
| Quarterly | Rs. 10,000/- (Rs. 40,000/- annually) |
| Monthly | Rs. 5,000/- (Rs. 60,000/- annually) |
Charges:
- Policy Fee: Nil
- 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 Fee / Partial Withdrawal Fee: PKR 500 per surrender or partial withdrawal.
- Fund Switching: The first two switches in a Policy Year are free. A charge of PKR 300 will be made for any further switches in that Policy Year.
*All charges are reviewable by the Company
Apply for 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.
For brochure kindly refer to: https://www.adamjeelife.com/en/bancassurance
Note:
- This product is underwritten by Adamjee Life Assurance Co. Ltd. It is not guaranteed or insured by MCB Bank or its affiliates and is not a product of the Bank.
- MCB Bank is acting as a corporate insurance agent of Adamjee Life Assurance Co. Ltd. which underwrites the policy and shall not be held responsible for any liability under the policy in any manner whatsoever to the policyholder(s) or claimants(s)
- Adamjee Life Tameer Education Plan is a Unit Linked Plan which is subject to investment risk. The investment risk shall be borne by the policyholder and actual maturity and surrender values may be lower or higher than the projected figures.
- All Adamjee Life Tameer Education Plan applications are processed and approved by Adamjee Life Assurance Co. Ltd., as per their underwriting guidelines. MCB Bank is not responsible for 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 contracts works is given in “Terms & Conditions” attached with the policy document, which will be provided after the policy is issued
- The past performance of the investment fund is not necessarily a guide to future performance. Any forecast is not necessarily indicative of future or likely performance of the funds and neither Adamjee Life Assurance Co. Ltd. nor MCB Bank will 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 along with in the projected cash values. These values are only for understanding purpose and can be go up or down and not guaranteed.
Adamjee Life Save and Assure Plan
Because peace of mind has no pricee
Be it a comfortable lifestyle, the wellbeing of your family or their future financial security, as a responsible provider to your family, you would like a comprehensive plan that gives you the guarantee to fulfill these dreams. In an increasingly uncertain world, you also need to ensure that your family is free from all financial burdens in case of any unfortunate event. Adamjee Life Save & Assure plan gives you flexible saving, health care and family protection solutions that make sure that you have round the clock 360-degree protection to make your ‘Har Pal Mehfooz’.
Disclosure of Product: This is a life insurance product which has two distinct elements i.e. Insurance Protection and Investment. The Investment Component is linked to the performance of underlying assets under unit-linked fund(s).
Unit Allocation & Surrender Charges:
Following is the proportion of basic plan allocated to investment:
| Policy Year | Allocation Percentages | % of Basic Premium Allocation Charge | Surrender Charges as % of Unit Account Value |
|---|---|---|---|
| 1 | 55% | 45% | 100% |
| 2 | 70% | 30% | 50% |
| 3 & Onwards | 100% | Nil% | Nil% |
| Policy Year | % of initial Basic Premium Allocated to Unit Account |
|---|---|
| 5 | 20% |
| 10 | 100% |
| 15 | 100% |
| 20 | 100% |
Key Benefits:
- Protection Benefit
- Choice of Insurance Coverage
- Maturity Benefit
- Saving Booster (Ad-hoc Premium)
- Loan Facility
- Partial Withdrawal
- Inflation Protection (Optional)
- Annuity Benefit (Optional)
Free Look Period:
The plan offers a free-look period of 14 days during which you can cancel your policy by contacting Adamjee Life, and have your premium refunded. However, 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 (if any).
Fund Management:
- Low Risk Funds:
- Investment Secure Fund (Income Fund): Low risk fund with aim to offer regular and steady returns from investment in wide variety of fixed income securities including bank deposits, government Securities etc without any exposure to corporate bonds and equities.
- Moderate to High Risk Funds:
- Investment Multiplier (Aggressive Fund):High risk fund with aim to earn higher returns in medium to long term by investing in diversified mix of equities, fixed income instruments and real estate.
- Amaanat Fund (Balanced Fund):Medium Risk fund with aim to provide growth in investment value by investing in shariah compliant debt instruments, equities and real estate.
- Managed Growth Fund (Balanced Fund):Medium risk fund with aim to provide growth in investment value by investing in fixed income instruments, equities and real estate.
Policy Eligibility:
- Minimum Entry Age: 18 years (Age Next Birthday)
- Maximum Entry Age: 70 years (Age Next Birthday)
- Minimum Policy Term:10 years
- Maximum Policy Term: 40 years or up to age of 80 exact, whichever comes first.
- Minimum Premium Paying Term:10 years
- Maximum Paying Term: Equal to cover term
Payment Modes:
| Mode | Minimum Basic Premium |
| Annually | Rs. 20,000/ |
| Semi-Annually | Rs. 15,000/- (Rs. 30,000/- annually) |
| Quarterly | Rs. 10,000/- (Rs. 40,000/- annually) |
| Monthly | Rs. 5,000/- (Rs. 60,000/- annually) |
Charges:
- Policy Fee: Nil
- 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 Fee / Partial Withdrawal Fee: PKR 500 per surrender or partial withdrawal.
- Fund Switching: The first two switches in a Policy Year are free. A charge of PKR 300 will be made for any further switches in that Policy Year.
- Mortality charges: Applied on Sum at Risk on attained age basis.
*All charges are reviewable by the Company
Apply for Adamjee Life Save and Assure 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.
For brochure kindly refer to: https://www.adamjeelife.com/en/bancassurance
Note:- This product is underwritten by Adamjee Life Assurance Co. Ltd. It is not guaranteed or insured by “Bank” or its affiliates and is not a product of the MCB Bank.
- MCB Bank is acting as a corporate insurance agent of Adamjee Life Assurance Co. Ltd. which underwrites the policy and shall not be held responsible for any liability under the policy in any manner whatsoever to the policyholder(s) or claimants(s).
- Adamjee Life Save & Assure Plan is a Unit Linked Plan which is subject to investment risk. The investment risk shall be borne by the policyholder and actual maturity and surrender values may be lower or higher than the projected figures.
- All Adamjee Life Save & Assure Plan applications are processed and approved by Adamjee Life Assurance Co. Ltd., as per their underwriting guidelines. MCB Bank is not responsible for 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 contracts works is given in “Terms & Conditions” attached with the policy document, which will be provided after the policy is issued.
- The past performance of the investment fund is not necessarily a guide to future performance. Any forecast is not necessarily indicative of future or likely performance of the funds and neither Adamjee Life Assurance Co. Ltd. nor “Bank” will 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 along with in the projected cash values. These values are only for understanding purpose and can be go up or down and not guaranteed.
