Alfalah Yaqeen Savings Plan
Alfalah Yaqeen in collaboration with MetLife Alico is an ideal savings plan for those who wish to accumulate funds through regular contributions. It provides security of investments along with life insurance protection.
Features & Benefits
- Guaranteed principal protection upon policy term completion
- Unlike investment-linked plans available in the market, the yield once credited to account value is guaranteed to be paid to you
- No medical-checkup required unless you avail Alfalah Yaqeen with riders and the same is requested by the underwriter based on your risk profile
- Save up to Rs 100,000 on your annual income tax payment just by investing in Alfalah Yaqeen
- Partial withdrawal and loan facilities available for financial exigencies without terminating the policy
- In the unfortunate event of your death before the completion of policy term, the accumulated account value or the sum of the basic premium paid, whichever is higher, will be paid to your beneficiary (ies).
- The account value at the time of maturity, after at least 10 years from the policy date, is guaranteed to be not less than the sum of the basic premium paid minus the cost of the insurance. This guarantee is subject to conditions that premiums are paid regularly and no partial withdrawal is made.
- You have the option to make partial withdrawals from your account value after the policy has run for at least 5 years subject to the minimum and maximum withdrawal amounts, as per the terms and conditions of the policy.
- You will have the right to fully surrender your policy; with a surrender charge payable in case you decide to do so during the initial policy years.
- You can also take a loan of up to 90% of the net cash surrender value, which is your account value minus applicable surrender charge subject to policy terms and conditions.
You have the option to attach supplementary benefits to your basic policy and enhance the insurance coverage. These supplementary benefits are as follows:
Level Term Insurance Rider (LTR): This feature guarantees a lump sum amount payable to the beneficiary (ies) in case of death due to accident or sickness.
Accidental Death Benefit Rider (ADB): Under this feature your beneficiary (ies) will be provided an additional lump sum amount in case of death due to accident.
Family Protection Rider (FPR): This feature guarantees payment of all future basic premiums of your policy when due in case you become permanently disabled, from the date of disability to the end of the FPR term.
Accumulation of Funds and Investment
Each premium paid will be credited to your individual account and invested in secure instruments like Government securities, bonds of reputable corporations amongst others. Every month, the investment earnings will be credited to your account after the deduction of monthly management charges, administration charges and cost of insurance (if any).
* The product is underwritten by MetLife Alico. It is not guaranteed or insured by Bank Alfalah or its affiliates.
For further information call 111-225-111 or visit your nearest branch