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 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 Limited in partnership with Jubilee Life Insurance Company Limited offers 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 annualized 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 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.
- The range of cover multiples available to the policy holder varies with the age at the time of entry of the life assured.
- Your contributions will be invested in the fund(s) of your choice (Meesaq, Managed, Capital Growth or Yaqeen Growth Fund) which are managed by expert investment managers and backed by premium financial securities, in order to ensure optimized returns with manageable risk exposure.
Payments can be made annually, semi-annually, quarterly or monthly.
Below is a breakdown of the minimum premium contributions that can be made:
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 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: 57 years
At time of claims, the beneficiary needs to contact Jubilee Life at (021) 111-111-554 and submit the following documents.
- Original Policy Documents
- Claim Forms A, B, C, D
- Complete Medical /Treatment Record including all Clinical Notes at the onset of the treatment
- Death Certificate issued by Hospital and NADRA
- Attested CNIC of both the life assured and claimant(s)
- Intimation wherein Date of death and Cause of death should be mentioned by the claimant
However, in case of Murder, Suicide or Accidental Death following mandatory requirements should also be added:
- Post Mortem/ Autopsy Report (Attested)
- News Paper Cutting of the event (Attested)
- Police First Information Report (FIR) (Attested)
- Medico Legal Report (Attested)
Note: Further requirements can be asked for depending on the case.
The product is underwritten by Jubilee Life Insurance Company Limited. It is not guaranteed or insured by Bank Alfalah Limited or its affiliates.
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