Islamic Insurance Plans
Mar 28, 2015
Islamic Insurance Plans
EFU Life now introduces two new products for your better future under the EFU Aitemad Growth Fund
New Unit Linked Fund
All investments are based on Islamic principles
Islamic unit linked funds, equities, term deposits, Sukuk Bonds
All underlying investments have been approved by their respective Shariah Boards
MMinimum Contributioninimum Contribution
Rs. 16,000 per annum.Min: 10 years Max: 40 years(Maximum 70 years at Maturity)
AAge at Entryge at Entry
IInvestment Management nvestment Management ChargeCharge0.125% of the fund value per month.
BBid/Offer Spreadid/Offer Spread
5% of the contribution.
Min: 18 year
Max: 60 years
TTermerm
Policy year Extra Unit Allocation
1 35% to 45%
2 70%
3 90%
4 & onwards 100%
UUnit Allocationnit Allocation
AAdministration Chargedministration Charge
Rs. 500 per annum.
ASASA PLANASASA PLAN
FFund Acceleration Premium
Minimum FAP allowed in a year
Rs. 20,000
Maximum FAP allowed in a year
5 x Basic Plan Premium
IIndexation
7% every year – simple basis
Premium increases as a percentage of initial
year’s premium
MMaturity Benefit
At maturity, fund value is payable
BBonus
After the review of the mortality experience of the plan, a surplus will be determined & distributed to the clients as “Bonus Units”
AAdditional Benefit Riders
This rider increases the level of life cover.
AAdditional Term Assurance
CCritical Illness Benefits
FFamily Income Benefit
A fixed amount is monthly payable to help maintain your family’s standard of living.
Lump sum payment on diagnosis of any of the defined critical illnesses
AAccidental Death & Disability
In the unfortunate event of death disability as a result of an accident, you can be covered for an additional amount. WWaiver of Premium
The contribution of the plan will be taken care of by EFU Life in case you are unable to follow an occupation (and your savings program continues).
MMinimum Premiuminimum Premium
Rs. 20,000 annual basic plan premium
Min: 10 years Max: 25 years(Maximum 70 years at Maturity)
AAge at Entryge at Entry
FFund Management Chargesund Management Charges
1.5% per annum of fund value
BBid/Offer Spreadid/Offer Spread
5% of the contribution.
Min: 18 year Max: 60 years
TTermerm
Policy year Extra Unit Allocation
1 35% to 45%
2 70%
3 90%
4 & onwards 100%
UUnit Allocationnit Allocation
Rs. 500 per annum.
NOOR PLANNOOR PLAN
AAdministrative chargesdministrative charges
FFund Acceleration Premium
Minimum FAP allowed in a year
Rs. 20,000
Maximum FAP allowed in a year
5 x Basic Plan Premium
IInflation Protection
7% every year – simple basis
Premium increases as a percentage of initial
year’s premium
BBonus
After the review of the mortality experience of the plan, a surplus will be determined & distributed to the clients as “Bonus Units”
CContinuation Benefit
Incase of death, the Company will continue to make premiums payment into the fund
WWaiver Premium
The contribution of the plan will be taken care of by EFU Life in case you are unable to follow an occupation (and your savings program continues).
AAdditional Benefit Riders
Income Benefit
A fixed amount is monthly payable to help maintain your family’s standard of living.