Pakistan's first active Life Insurance

The Smart Wealth Plan is a smart investment plan that is linked to the Vitality wellness programme. Based on the shared value insurance model, this plan encourages you to lead a healthier life and offers you attractive rewards for doing so.

The plan consists of two core aspects:

  • Vitality: focuses on wellness by providing you with an understanding of your current health status and incentivizes you to improve your health.
  • Weekly Active Rewards: 50% discount off a cinema ticket booking with EasyTickets or PKR 500 mobile top up (any network) or PKR 500 discount voucher through Foodpanda at selected restaurants or Pandamart
  • Monthly Reward: Up to 100% cashback over a 24-month period for a Samsung Galaxy Watch with an amazing 30% discount through Muller & Phipps (M&P).
  • Annual Reward: Up to 18% of the annual premium accrues every year based on the Vitality status and Sum Cover Multiple and are credited to the Top-up account at every fifth membership anniversary.
  • Insurance coverage: caters to your need for financial security and provides investment opportunities.

Apply for MCB Smart Wealth 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.


  • MCB Bank Limited is acting as a distributor of Smart Wealth Plan on behalf of IGI Life Insurance Limited and is not responsible in any manner whatsoever to the customer, his/her beneficiary (ies) or any third party
  • IGI Life Insurance Limited is registered & supervised by Securities Exchange Commission of Pakistan.
  • All MCB Smart Wealth Plan applications are processed and approved by IGI Life Insurance Limited as per their underwriting guidelines. MCB Bank is not responsible for the processing and approval of these applications in anyway whatsoever.
  • This brochure provides only an introduction of the benefits available under the policy. A description of how the contract works is given in the ‘Policy Documents’ and ‘Terms and Conditions’, which will be provided after the customer(s) avails this service.

Basic Premium Allocation

IGI Life Vitality offers one of the best premium allocations to optimize the returns on your investment. The proportion of premiums allocated to account value is as follows:

Policy Year % Allocation of Premium to Account Value
1 50.0
2 90.0
3 100.0
4 - 5 102.0
6 & onwards 105.0
AVAP 100.0

Integrated Benefit for Smart Wealth Plan

At every 5th anniversary of the IGI Life Vitality Integrated Policy, an additional amount (% of the premium) is paid into the Account Value as Vitality Integrated Benefit, subject to its terms and conditions. The Integrated Benefit, which accrue annually based on your IGI Life Vitality status, and the Face Amount Multiple are paid at five-year intervals

What is Sum Covered?

This amount Is payable in the event of the death of the policyholder along with any other benefits applicable, The Face Amount is a multiple of the Basic Premium. The following multiples will be offered to policyholder:


Face Amount Multiple



up to 50



51 to 55



56 to 60



61 & onwards



What is Account Value?

Account Value is the amount that the investment portion of the policy is worth. The table below shows the percentages of the IGI Life Vitality Integrated Benefit:

Integrated Benefit

Face Amount Multiple






5 to 10





11 to 20





21 and higher





The Bronze, Silver, Gold and Platinum Statuses refer to the status achieved by a member as a result of achievement of various goals and assessments / questionnaires, as set our under the terms and conditions.


  • Income Tax Benefit
  • Account Value Acceleration Premium (AVAP)
  • Death Benefit
  • Maturity Benefit
  • Extra Unit Allocation
  • Automatic Cover Maintenance

Additional Benefits

  • Family Protection Benefit - Disability (FPR-Disability)
  • HealthSure
  • Accidental Death Benefit
  • Level Term Insurance Benefit (LTR)
  • Income Benefit – Death (IBR-Death)
  • Income Benefit – Disability (IBR-Disability)
  • Elaj Aasan (EA)
  • Permanent and Total Disability (PTD
  • Accidental Care Benefit (ACB)
  • Accident Medical Expense Reimbursement (AMR)

*Additional premium will be charged for each supplementary benefit and credited into Individual PTF

Free-Look Period

If you cancel your policy within the free-look period of 14 days from the policy issue date, you are entitled to a full refund of your premium less any expenses, If the member has availed any Active Rewards during the free-look period, the Vitality fee for one month will be deducted from the amount being refunded.

Investment Strategies

  • IGI Life Aggressive Fund
  • IGI Life Balanced Fund
  • IGI Life Conservative Fund
  • IGI Life Secure Fund
  • IGI Life Shariah-Compliant Fund

Policy Terms & Eligibility

  • Minimum Entry Age:18 year (Age nearest Birthday)
  • Maximum Entry Age:65 years
  • Minimum Policy Term:10 years
  • Maximum Policy Term: up to age 85 years

Minimum Premium

The minimum Basic Premium is PKR 150,000.

Payment Modes

  • Annual, and
  • Semi-annual
  • Quarterly


Fund Management Charges

All Years - 0.125% per Month

Surrender (% of Account Value)

100% - 1st & 2nd year

Nil – 3rd year onwards

Admin Charge

PKR 150 per month

Vitality Fee (if applicable**)

PKR 320 per month

Bid Offer Spread


Investment Strategy Switching Fee

PKR 500 per switch

Processing Fee

PKR 500 on each partial withdrawal and complete surrenders

*All charges are reviewable by the Company

** Vitality Fee will only be charged if the customer opts for Vitality Feature.