The coverage covers accidental death, permanent disability, Cash Withdrawal and Loss of identity documents for all new and existing accounts upon meeting the eligibility criteria.

All checking accounts with average account balances of Rs. 2,500 or more will become eligible for accidental death, permanent disability Cash Withdrawal and Loss of identity documents coverage in the month following the one in which the average balance of Rs 2,500 is maintained. For example if the average balance was greater or equal to Rs 2,500 in January then the coverage will be applicable for February.

Maximum Age Limit is 60 years.

The coverage shall only cover the account holders. Spouse or any other family member will not be eligible to receive Cover under this scheme.

The plan is provided by Alfalah Insurance Company whereas the contribution for the plan coverage is borne by Bank Alfalah. Hence it is free of charge for customers

Customers having more than one account with bank shall be offered single coverage.

Claim amount for Accidental Death and Permanent Disability is Rs. 500,000

The maximum claim amounts are:

1. Cash Withdrawal from ATM: Rs. 25,000
2. Cash over the Counter: Rs. 35,000
3. Identity Documents: Rs. 3,000

In case of death, the claim amount will be paid to the legal heirs as per policy.

Coverage shall commence from the moment an account holder withdraws cash from any ATM and shall be valid up to 30 minutes or within the radius/area of 1.5 kilometers from such withdrawal, whichever occurs first

The coverage shall not be applicable for the following month if the customer’s preceding month’s account balance falls below Rs. 2,500.

An account holder becomes ineligible for plan if his account closes down for any reason

The coverage is only applicable within the territorial limits of Islamic Republic of Pakistan

The claimant/successor should contact at the designated address within one month of the Accident, otherwise claim will not be entertained. Average monthly balance of the month preceding the date of incident shall be checked.

The claimant should contact at the designated address within 24 hours of the incident or else the claim shall not be entertained.

The cash withdrawals claims will be settled within fifteen (15) working days and personal accident claims within (30) working days of due communication of the same by the customer, subject to receipt of all the documentation as specified.

Alfalah Insurance Company will process the claim of the Bank Alfalah account holder after completion of all necessary requirements and formalities.

The Bank reserves the right to change these Terms and Conditions of the Takaful plan at any time after giving 30 days’ notice to its account holders.

Please refer to the claim section.

Please refer to the claim section.