Saholat Takaful Savings Plan
Just when you wondered if your family Takaful coverage can get more interesting! In comes Family Takaful Saholat Takaful Savings Plan. IGI Life – Window Takaful Operations’ unique offering, which gives you the ability to choose your investment size based on your annual contribution, all while availing the same product features. The Saholat Takaful Savings Plan is a proof that IGI Life WTO’s Takaful plans are notonly 100% Shariah Compliant, but they also empower the members by giving the right to choose on how much they invest.
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
Highest 1st Year unit allocation on affordable contribution amounts, in Takaful Industry – Up to 55% Allocation
- 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 100)* 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.
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.
- Plan A- PKR 25,000
- Plan B- PKR 100,000
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.
The plan is available to all Bank Alfalah Limited customers between 18 to 65 years of age.
Term of Plan
Minimum Term: 10 years
Maximum Term: Up to an attained age of 85 years
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.
Saholat Takaful savings Plan is underwritten by IGI Life – Window Takaful Operations. It is not guaranteed or insured by Bank Alfalah Limited or its affiliates.
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