Danish Education PlanDanish Education Plan

Danish Education Plan

Education shouldn’t be a privilege and with the Danish Education Plan it doesn’t need to be.
With this plan you can feel confident that your child’s education is taken care of even in the case of untimely death. So while we cannot know what will happen in the future, at the very least we can be prepared for it.

After all, we need to ensure that our children have access to every opportunity to allow them to be the best they can be.

The plan is being offered by IGI Life – Window Takaful Operations and has been exclusively designed for Bank Alfalah customers. It is only available through Bank Alfalah’s branches.


Features and Benefits

  • All your contributions are invested as per your chosen strategy. This means at the time of maturity of the plan you get the entire participant investment account value (PIA value) accumulated during the term of the plan.
  • The plan is flexible and gives you the option to select the sum cover of your choice.
  • In case of demise of the participant during the term of the plan, his / her beneficiaries will be entitled to the sum cover or the PIA value, whichever is higher. You can determine the sum cover by multiplying your annualized basic contribution amount by the selected cover multiple (offered from 5 to 10)* depending on your savings and takaful needs.
  • *For example, if your annual basic contribution is PKR 100,000 and you have selected a cover multiple of 10, your total sum cover would be 100,000 x 10 = PKR 1,000,000.
  • Your contributions will be invested in the fund(s) according to the strategy of your choice (Aggressive / Balanced / Conservative) which are managed by expert investment managers in order to ensure optimized returns with manageable risk exposure.

Payment Frequency

The minimum collected basic contribution is PKR 25,000. The contributions can be made on Annual, Semi-Annual or Quarterly basis.

Note: For a better understanding in making your selection according to your savings and takaful needs, you may contact representatives at your nearest Bank Alfalah Limited branch.


Eligibility

The plan is available to all Bank Alfalah Limited customers between 18 to 55 years of age.


Term of Plan

Minimum Term: 10 years
Maximum Term: 25 years (subject to a maximum coverage age of 65 years)


Claims:

Following are the requirements for Claims settlement:

  • Claimant’s Statement to be completed and signed by you : Download the form from the this link http://igilife.com.pk/downloads/claim-forms/
  • Physician’s Statement to be filled by the Physician who treated/attended the deceased : Download the form from the this link http://igilife.com.pk/downloads/claim-forms/
  • Original Union Council Death Certificate which will be returned to you OR copy duly attested by Union Council
  • Copy of hospital death certificate
  • Original Policy Document
  • All previous and current medical treatment record of deceased
  • Copies of CNIC’s of Beneficiary & Deceased
  • Copy of FIR/Police Report duly attested by the issuing authority (In case of accident)
  • Copy of Post Mortem Report duly attested by the issuing authority (In case of accident)

Note: Further requirements can be asked for depending on the case.


Disclaimer:

Danish Education Plan is underwritten by IGI Life – Window Takaful Operations. It is not guaranteed or insured by Bank Alfalah Limited or its affiliates.

Click here for more details – English Click here for more details – Urdu

Apply Now Or you can apply for Danish Education Plan at the branch.
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