Alfalah Rida Marriage Plan
Every family needs to have a plan. Before you know it, your child’s wedding day can be upon you. And with the joys, come the expenses.
With the Alfalah Rida Marriage Plan you can make scheduled payments as a means to save over time. This will alleviate the stress of a family wedding so that you can concentrate on what’s important – the happiness of the occasion.
Bank Alfalah in partnership with Jubilee Life Insurance offers Alfalah Rida Marriage Plan.
Features and Benefits
- All your invested premiums are completely secured. This means at the time of maturity of the plan you get the entire cash values of the policy accumulated during the term of your plan.
- This is a flexible plan which gives you the ability to select the sum assured of your choice. You can determine the sum assured by multiplying your annualised basic premium amount by the selected cover multiple (from 5 to 15) depending on your savings and insurance needs. For example, if your annual basic premium contribution is PKR 100,000 and you have selected a cover multiple of 10, your total sum assured would be 100,000 x 10 = 1,000,000.
The maximum sum assured that can be selected under Alfalah Rida Marriage Plan is
PKR 3,000,000. If the life assured expires during the term of the plan, his/her beneficiaries will be entitled to the sum assured or the cash value of the policy, whichever is higher.
Payments can be made annually, semi-annually, quarterly or monthly. Below is a breakdown of the minimum premium contributions that can be made:
Yearly Rs. 36,000
Half Yearly Rs. 18,000
Quarterly Rs. 9,000
Monthly Rs. 5,000
Note: For a better understanding in making your selection according to your savings and insurance needs, you may contact representatives at your nearest Bank Alfalah branch.
The plan is available to all Bank Alfalah customers between 18 to 65 years of age.
Term of Plan
Minimum Term: 10 years
Maximum Term: 47 years
The product is underwritten by Jubilee Life Insurance. It is not guaranteed or insured by Bank Alfalah or its affiliates.