EFU EduCare

Tie their success tomorrow with your saving today!

You may not imagine a future for your children without college, but before you prepare them for that, you may have to prepare yourself financially. Your child’s college education could be one of the largest expenditures you ever make. EFU EduCare is a long-term saving plan which provides disciplined approach to save for your child’s higher education. It is an investment-linked insurance product. This plan has two options that will help you to accumulate a lump sum fund over a period, which can be used to pay for your child’s higher education, making your ‘Har Pal Mehfooz’.

Disclosure of Product: This is a life insurance product which has two distinct elements i.e. Insurance Protection and Investment. The Investment Component is linked to the performance of underlying assets under unit-linked fund(s).

Free Look Period: If you cancel your policy within free look period of 14 days from the date of the documents receipt, you are entitled for a full refund of premium less any expenses incurred by EFU Life in connection with our medical or clinical examinations.

Opportunity for Growth:

Every premium paid towards the plan will be invested in one or two of the internal investment funds of EFU Life. It is completely your decision to choose the internal fund based on your investment objectives. You can select from the following unit linked funds mentioned below at the inception of the policy.

All available funds are categorized with their risk profiling as per the investment criteria

EFU Managed Growth Fund (Fund categorization: Balanced. Risk profile: Medium): An investment fund with a balanced investment strategy. It aims to achieve reasonable capital growth and steady returns with investment in government securities, carefully selected blue chip equities and other fixed income instruments and cash.

EFU Guaranteed Growth Fund* (Fund categorization: Money Market Fund. Risk profile: Low): An investment fund providing steady returns with a guarantee that the bid price of the fund will never fall. It aims to achieve stable growth through investment in short term debt securities.

EFU Aggressive Fund (Fund categorization: Aggressive. Risk profile: High): An investment fund with the aim of investing in equities providing a higher rate of return. It aims to maximize capital growth by using investments with an aggressive market outlook.

EFU Income Growth Fund (Fund categorization: Income Fund. Risk profile: Low): Investment fund providing steady returns. It aims to achieve consistent capital growth with investment in government securities and high-quality corporate debt.

Multiple Fund Option:Under this option you have a facility to select a mix of two unit linked funds of the plan. Fund mix can be selected in multiples of 10%. It means that the funds split can be of 90/10, 80/20, 70/30, 60/40 or 50/50.

* EFU Guaranteed Growth Fund to be selected by default

Key Benefits:

Option 1

• Continuation Benefit: On death of life assured prior to the maturity of plan, the plan ensures that your child’s future remains secure by its Continuation Benefit. This is built into the plan and ensures that all future premiums are paid by EFU Life following the death of the life assured until the Plan’s maturity date. This means that the funds you had originally planned for your child will still be available for your children.

Option 2

• Death Benefit: The unfortunate demise of the policy holder (insured person) allows the nominated beneficiaries to receive the death benefit as given:
  *Sum assured of the main plan or Cash value of the units applicable to the regular basic plan premium (whichever is higher).
  *Plus cash value of the units applicable to Fund Acceleration Premium (FAP) if any.

Maturity Benefit:

At the end of the Policy Term, while the policyholder is still alive, the maturity benefit payable will be the Cash Value applicable to the regular plan premium plus Cash Value applicable to FAP payment, if any.

Optional Benefits:

Accidental Death and Disability Benefit Plus (Built-in):

In case of accidental death or disability (permanent & total) that makes you permanently disabled. For your family to cope with this distress, this rider provides an additional lump sum benefit.

Waiver of Premium:

In case the life assured is unable to follow any occupation due to the sickness or accident, the premium would be paid by EFU Life.

Income Benefit:

In the unfortunate event of death of the policy holder/life assured, this additional benefit will provide a quarterly income to your dependents to maintain a decent lifestyle.

Additional Term Assurance:

This rider increases the level of life cover by providing an additional amount in the range of 50% to 200% of the Main Plan Sum Assured, in case of death of the Life Assured.

Unit Allocation:

Following is the proportion of basic plan allocated to investment:

*An allocation charges will be deducted from the Paid Premium every year as per the above table and the remainder will be allocated to the account value

Sum Assured:

This is the amount payable on the unfortunate event of death of the policy holder / life assured. This is equal to the Regular Basic Plan Premium times the protection multiple selected by the policy holder. The Protection Multiple is subject to limits dependent on the age at commencement, also shown in the table below:

*Note: Applicable for Death Benefit Option only

Fund Acceleration Premium:

If you have surplus cash available at any point of time during the plan term it can be invested in the plan to enhance your cash values. These additional payments in the plan are called Fund Acceleration Premium payments. You can make these payments at any time while the policy is in force. The minimum FAP payment is Rs. 15,000.

100% of FAP payments are allocated to purchase units in the selected fund.

Complete and Partial Surrender:

The plan provides complete access to accumulated fund value during the plan term. Total units accumulated can be withdrawn after the second year’s regular premium payment. A facility for partial withdrawals is also available subject to Rs.15,000 remaining in the fund. If the customer opts for complete surrender, all units will be encashed and the plan will be terminated.

Claim:

In case of an unfortunate event, you may file your claim intimation through an MCB Branch walk in, visiting the EFU Head Office or by visiting any of the EFU branches in the country. For a swift speedy process, you may also call us at our call center (021- 111-338-111) or simply visit our website, fill in the intimation form and email it to us at [email protected]. Thereafter, you will be contacted for next steps.

Indexation:

This option gives you the security and peace of mind of knowing that the benefits provided by your plan will be automatically updated in line with inflation every year. Once you select this option:

For Death Benefit:

The premium will increase every year by 5% of the prior year’s premium. Similarly, the sum assured, and additional benefits will increase in the same proportion. However, you can opt to increase only the premium while keeping the sum assured at the initial level. Sum Assured indexation is only available until age 55, provided you were accepted on standard terms initially.

For Continuation Benefit:

The regular premium will increase every year by 5% of the prior year’s premium till the age of 55 years, without any medical evidence

Policy Eligibility:

• Minimum Entry Age: 18 years (Age Next Birthday)
• Maximum Entry Age: 65 years (Age Next Birthday)
• Minimum Policy Term: 10 years
• Maximum Policy Term: 25 years
• Maximum Age at Maturity: 75 years
• Minimum Premium: PKR 15,000/-

Payment Modes:

• Annually
• Semi-Annually
• Quarterly
• Monthly

Charges:

• Investment Management Charges: 0.125% of the fund value per month
• Bid / Offer Spread: 5% of the regular premium
• Administration Charges: PKR 90 per month
• Mortality Charge (Cost of Insurance): An age-based mortality charge applies for the life insurance risk each year and is dependent on the sum at risk. No mortality charges apply in years where the cash value exceeds sum assured
• Fund Switching Fee: PKR 500
• Surrender Processing Fee: PKR 500
• Surrender Charge: 100% for the first year
• Allocation charges: As per the unit allocation table

Disclaimer:

• MCB (Corporate Insurance Agent) is acting on behalf of the EFU Life Assurance Limited (insurer), who is the principal and responsible for all liabilities under the policy..
• All applications are processed and approved by EFU Life as per their underwriting guidelines. MCB Bank is not responsible for the processing and approval of these applications in any way, whatsoever.
• The brochure provides only an introduction to the benefits available under the policy. A detailed description of how the contract works is given in the ‘Terms and Conditions’, which will be provided after the customer(s) avail the service.

Apply for EFU EduCare today

For further details, please contact our Bancassurance Sales Manager / Officer at one of the selected MCB Bank Branches, or call 111-000-622.

For brochure kindly refer to: https://www.efulife.com/bancassurance/

EFU High Value Savings Plan

As exclusive as your goals

EFU High-Value Savings Plan offers valuable life insurance coverage along with a competitive and higher allocation to the high-value customers for better finances for the future, ensuring your future years to be the best years of your life. It is an investment-linked insurance product. The plan is flexible enough to cater to most individual’s needs by giving you best returns on your savings. You can add layers of extra protection through the additional riders. This plan is the ultimate combination of accumulating saving and life coverage.

Disclosure of Product: This is a life insurance product which has two distinct elements i.e. Insurance Protection and Investment. The Investment Component is linked to the performance of underlying assets under unit-linked fund(s).

Free Look Period: If you cancel your policy within free look period of 14 days from the date of the documents receipt, you are entitled for a full refund of premium less any expenses incurred by EFU Life in connection with our medical or clinical examinations.

Plan objective:The premiums of the plan will be utilized to purchase units for the funds selected by the policy holder (insured person) who will have the facility to select from the unit savings funds based on his/her risk appetite and investment objectives at the inception of the policy.

Benefits:

Maturity Benefit: The policy holder (insured person) is entitled to the total cash value at the maturity of the plan.

Death Benefit: The unfortunate demise of the policy holder (insured person) allows the nominated beneficiaries to receive the death benefit as given:
*Sum assured of the main plan or Cash value of the units applicable to the regular basic plan premium (whichever is higher).
*Plus Cash value of the units applicable to Fund Acceleration Premium (FAP) if any.

PRIMUS:

Another exclusive feature for our customers is PRIMUS. PRIMUS is the first of its kind concept in the Life insurance Industry. With PRIMUS you will experience a whole new world of exclusive benefits especially designed to cater to your needs.

Optional Benefits:

Accidental Death Benefit: *

If death occurs due to accident; this benefit provides an additional lump sum benefit.

Accidental Death and Disability Benefit Plus: *

This rider provides an additional lump sum benefit in case of an accidental death or disability (permanent & total) that makes you permanently disabled.

Additional Term Assurance

This rider increases the level of life cover by providing an additional amount in case of death of the Life Assured.

Family Income Benefit:

This benefit ensures that a monthly income is paid to the family in case of an unfortunate death of the policy holder (insured person) during the plan term.

Life Care Enhanced Benefit:

This rider provides a flexible benefit ranging from Rs. 50,000 to sum equivalent to main plan sum assured subject to a maximum of Rs. 1.5 million, upon the diagnosis or the occurrence of any 20 covered critical illnesses.

Waiver of Premium

In case the life assured is unable to follow any occupation due to the sickness or accident, the premium would be paid by EFU Life.

*Any one of the three accidental death benefits can be selected at a time.

Fund Acceleration Premium:

If you have surplus cash available at any point of time during the plan term, it can be invested in the plan to enhance your cash value. These additional payments in the plan are called Fund Acceleration Premium payments. You can make these payments at any time while the policy is in force. The minimum FAP payment is Rs. 50,000. 100% of FAP payments are allocated to purchase units in the selected fund.

100% of FAP payments are allocated to purchase units in the selected fund

Partial Surrender:

Without surrendering your policy, you can withdraw any amount from your cash value to meet a sudden need. Partial Surrender is allowed subject to residual value of Rs. 250,000.

Complete Surrender:

You may surrender your plan after the 2nd year’s premium is paid. At the time of surrender, you will be paid the full cash value of your fund. However, surrender in early policy years may result in lower cash value.

Indexation:

This option gives you the security and peace of mind of knowing that the benefits provided by your plan will be automatically updated in line with inflation every year. Once you select this option, the premium will increase every year by 5% of the prior year’s premium.

Unit Allocation:

Following is the proportion of basic plan allocated to investment:

* First Year Allocation is valid from 1st July 2022 to 30th June 2023.

*An allocation charges will be deducted from the Paid Premium every year as per the above table and the remainder will be allocated to the account value.

Allocation Booster:

The longer you continue the plan, the higher are the rewards. This plan offers you loyalty bonus in the form of extra unit allocation. If the plan has been continuously in-force, there will be an extra unit starting from the end of 15th policy year.

Sum Assured:

This is the amount payable on the unfortunate event of death of the policy holder / life assured. This is equal to the Regular Basic Plan Premium times the protection multiple selected by the policy holder. The Protection Multiple is subject to limits dependent on the age at commencement. Refer to the table below for further details:

Opportunities for Growth:

Every premium paid towards the plan will be invested in one of the internal investment funds of EFU Life. It is completely your decision to choose the internal fund based on your investment objectives. You can select from the following unit linked funds mentioned below:

All available funds are categorized with their risk profiling as per the investment criteria

EFU Managed Growth Fund (Fund categorization: Balanced. Risk profile: Medium):

An investment fund with a balanced investment strategy. It aims to achieve reasonable capital growth and steady returns with investment in government securities, carefully selected blue chip equities and other fixed income securities and cash.

EFU Guaranteed Growth Fund* (Fund categorization: Money Market Fund. Risk profile: Low)

An investment fund providing steady returns with a guarantee that the bid price of the fund will never fall. It aims to achieve stable growth through investment in short term debt securities.

EFU Aggressive Fund (Fund categorization: Aggressive. Risk profile: High):

An investment fund with the aim of investing in equities providing a higher rate of return. It aims to maximize capital growth by using investments with an aggressive market outlook.

EFU Income Growth Fund (Fund categorization: Income Fund. Risk profile: Low)

Investment fund providing steady returns. It aims to achieve consistent capital growth with investment in government securities and high-quality corporate debt.

*EFU Guaranteed Growth Fund to be selected by default

Multiple Fund Option:

Under this option you have a facility to select a mix of two unit linked funds of the plan. Total premium under your policy will be allowed to be distributed in funds in multiples of 10%. It means that the funds split can be of 90/10, 80/20, 70/30, 60/40 or 50/50.

Policy Eligibility:

• Minimum Entry Age: 18 years (Age Next Birthday)
• Maximum Entry Age: 65 years (Age Next Birthday)
• Minimum Policy Term: 10 years
• Maximum Policy Term: 25 years
• Maximum Age at Maturity: 75 years
• Minimum Premium: PKR 250,000/- only
• Minimum Fund Acceleration Premium: PKR 50,000/-
• Sum Assured: Annual Premium x Protection Multiple
• Protection Multiples: 5-75 (depending on age of policy holder at entry)

Payment Modes:

• Annually (flexible for all modes)

Charges:

• Investment Management Charges: 0.125% of the fund value per month
• Bid / Offer Spread: 5% of the allocated Basic & Fund Acceleration Premium
• Administration Charges: PKR 180 per month
• Mortality Charge (Cost of Insurance): An age-based mortality charge applies for the life insurance risk each year and is dependent on the sum at risk. No mortality charges apply in years where the cash value exceeds sum assured
• Fund Switching Fee: PKR 500
• Surrender Processing Fee: PKR 500
• Surrender Charge: 100% for the first year
• Allocation charges: As per the unit allocation table

Claim

In case of an unfortunate event, you may file your claim intimation through any MCB Branch walk in, visiting the EFU Head Office or by visiting any of the EFU branches in the country. For a swift speedy process, you may also call us at our call center (021-111-338-111) or simply visit our website, fill in the intimation form and email it to us at [email protected]. Thereafter, you will be contacted for next steps.

Note

• This product is underwritten by EFU Life Assurance Ltd. It is not guaranteed or insured by MCB Bank or its affiliates and is not a MCB Bank product. EFU Life Assurance Ltd will be responsible for settlements of claims to the insured customer(s) or beneficiary(ies)
• MCB (Corporate Insurance Agent) is acting on behalf of the EFU Life Assurance Limited (insurer), who is the principal and responsible for all liabilities under the policy.
• The investment risk of the fund is borne by the policyholder (insured person) and actual maturity or surrender values may be lower or higher than the projected figures.
• The past performance of funds is not necessarily a guide to future performance. Any forecast made is not necessarily indicative of future or likely performance of the funds and neither EFU Life Assurance Ltd nor MCB Bank will incur any liability for the same.
• A personalized illustration of benefits will be provided to you by our sales representative. Please refer to the notes in the illustration for detailed understanding of the various terms and conditions.
• Service charges and taxes will be applicable as per the Bank's "Schedule of Charges" and taxation laws as stipulated by the relevant authorities.
• This product brochure gives a general outline of the product features and benefits. A description of how the contract works is given in the policy provisions and conditions.
• For target asset mix of the underlying fund, please refer to company website i.e., https//www.efulife.com/ investor-relations/funds-prices/funds-performance-charts

Apply for EFU High Value Savings Plan today

For further details, please contact our Bancassurance Sales Manager / Officer at one of the selected MCB Bank Branches, or call 111-000-622.

For brochure kindly refer to: https://www.efulife.com/bancassurance/

EFU Accelerated Savings Plan

Protect your future by saying today

EFU Accelerated Savings Plan fulfills your dreams by helping you grow your wealth while you enjoy the security of life protection, in a way that you and your family can live a life of standards. The plan allows submitting your premium in one go so that you can enjoy the benefits of the growth on your savings. This unique lump sum payment plan waives out the worries of regular payment and covers your investment needs with comprehensive life protection. It is an investment-linked insurance product. While you can reap potential returns over and above the premiums you pay, giving your investment an overall boost.

Disclosure of Product: This is a life insurance product which has two distinct elements i.e, Insurance Protection and Investment. The Investment Component is linked to the performance of underlying assets under unit-linked fund(s).

Free Look Period: If you cancel your policy within free look period of 14 days from the date of the documents receipt, you are entitled for a full refund of premium less any expenses incurred by EFU Life in connection with our medical or clinical examinations.

Plan objective:The objective of this plan is to collect the current and future premiums of this plan in one go to purchase units for the funds based on the client’s risk and investment objectives, hence saving the client from the hassle of regular payments. Moreover, the lumpsum premiums collected will also earn greater return in comparison to the premium collected on yearly basis.

Benefits:

Maturity Benefit:

The policy holder (insured person) is entitled to the total cash value at the maturity of the plan.

Death Benefit:

The unfortunate demise of the policy holder (insured person) allows the nominated beneficiaries to receive the death benefit as given:

*Sum assured of the main plan OR Cash value of the units applicable to the regular basic plan premium (whichever is higher).

*Plus Cash value of the units applicable to Fund Acceleration Premium (FAP)

Optional Benefits:

Accidental Death Benefit: *

If death occurs due to accident; this benefit provides an additional lump sum benefit.

Accidental Death and Disability Benefit Plus: *

This rider provides an additional lump sum benefit in case of an accidental death or disability (permanent & total) that makes you permanently disabled.

* Any one accidental rider can be selected at a time.

Fund Acceleration Premium:

If you have surplus cash available at any point of time during the plan term, it can be invested in the plan to enhance your cash value. These additional payments in the plan are called Fund Acceleration Premium payments. You can make these payments at any time while the policy is in force. The minimum FAP payment is Rs. 20,000.

100% of FAP payments are allocated to purchase units in the selected fund.

Partial Surrender:

The FAP cash value can be withdrawn (fully or partially) at any point in time during the term of the policy. Whereas the main plan cash value can be partially withdrawn only after 2nd year’s premium has been paid by the client subject to residual value of Rs. 20,000.

Complete Surrender:

You may surrender your plan after the 2nd year’s premium is paid. At the time of surrender, you will be paid the full cash value of your fund. However, surrender in early policy years may result in lower cash value. If the policy is surrendered before completion of 13 months, a surrender charge equal to allocated portion of first year premium will be deducted from cash values of the policy.

Indexation:

Under this option, the regular premium will increase every year by a 5% of previous year’s premium with appropriate increase in benefits, without any medical evidence. If this option is selected, all the indexed premiums will be collected as lump sum at the inception of the policy.

Unit Allocation:

Following is the proportion of basic plan allocated to investment:

*An allocation charges will be deducted from the Paid Premium every year as per the above table and the remainder will be allocated to the account value.

*These Allocations includes the Bonus unit allocations due to lump sum premium payments.

**First year allocation is valid from 1st July 2022 to 30th June 2023.

Sum Assured:

This is the amount payable on the unfortunate event of death of the policy holder / life assured. This is equal to the Regular Basic Plan Premium times the protection multiple selected by the policy holder. The Protection Multiple is subject to limits dependent on the age at commencement, also shown in the table below:

Opportunities for Growth:

Every premium paid towards the plan will be invested in one of the internal investment funds of EFU Life. It is completely your decision to choose the internal fund based on your investment objectives. You can select from the following unit linked funds mentioned below:

EFU Managed Growth Fund (Fund categorization: Balanced. Risk profile: Medium)

An investment fund with a balanced investment strategy. It aims to achieve reasonable capital growth and steady returns with investment in government securities, carefully selected blue chip equities and other fixed income securities and cash.

EFU Guaranteed Growth Fund* (Fund categorization: Money Market Fund. Risk profile: Low)

An investment fund providing steady returns with a guarantee that the bid price of the fund will never fall. It aims to achieve stable growth through investment in short term debt securities.

EFU Income Growth Fund (Fund categorization: Income Fund. Risk profile: Low)

Investment fund providing steady returns. It aims to achieve consistent capital growth with investment in government securities and high-quality corporate debt

*EFU Guaranteed Growth Fund to be selected by default

Multiple Fund Option:

Under this option you have a facility to select a mix of two unit linked funds of the plan. Total premium under your policy will be allowed to be distributed in funds in multiples of 10%. It means that the funds split can be of 90/10, 80/20, 70/30, 60/40 or 50/50.

Policy Eligibility:

• Minimum Entry Age: 18 years (Age Next Birthday)
• Maximum Entry Age: 65 years (Age Next Birthday)
• Minimum Policy Term: 15 years
• Maximum Policy Term: 20 years
• Maximum Age at Maturity: 80 years
• Minimum Premium: PKR 20,000/- per annum
• Premium Payment Term: 10 times annual premium
• Minimum Fund Acceleration Period: PKR 20,000/-
• Sum Assured: Annual Premium x Protection Multiple
• Protection Multiples: 5-35 (depending on age of policy holder at entry)

Payment Modes:

• Lump Sum Payment

Charges:

• Investment Management Charges: 0.125% of the fund value per month.
• Bid / Offer Spread: 5% of the Basic Plan Premium and Total Fund Acceleration Premium (FAP) Payment.
• Administration Charges: PKR 60 per month
• Mortality Charge (Cost of Insurance): An age-based mortality charge applies for the life insurance risk each year and is dependent on the sum at risk. No mortality charges apply in years where the cash value exceeds sum assured.
• Fund Switching Fee: PKR 500
• Surrender Processing Fee: PKR 500
• Surrender Charge: 100% for the first year
• Allocation Charges: As per the unit allocation table

Claim

In case of an unfortunate event, you may file your claim intimation through any MCB Bank Branch walk in, visiting the EFU Head Office or by visiting any of the EFU branches in the country. For a swift speedy process, you may also call us at our call center (021-111-338-111) or simply visit our website, fill in the intimation form and email it to us at [email protected]. Thereafter, you will be contacted for next steps.

Note

• This product is underwritten by EFU Life Assurance Ltd. It is not guaranteed or insured by MCB Bank or its affiliates and is not a MCB Bank product. EFU Life Assurance Ltd will be responsible for settlements of claims to the insured customer(s) or beneficiary(ies).
• MCB (Corporate Insurance Agent) is acting on behalf of the EFU Life Assurance Limited (insurer), who is the principal and responsible for all liabilities under the policy
• The investment risk of the fund is borne by the policyholder (insured person) and actual maturity or surrender values may be lower or higher than the projected figures.
• The past performance of funds is not necessarily a guide to future performance. Any forecast made is not necessarily indicative of future or likely performance of the funds and neither EFU Life Assurance Ltd nor MCB Bank will incur any liability for the same.
• A personalized illustration of benefits will be provided to you by our sales representative. Please refer to the notes in the illustration for detailed understanding of the various terms and conditions.
• Service charges and taxes will be applicable as per the Bank's "Schedule of Charges" and taxation laws as stipulated by the relevant authorities.
• This product brochure gives a general outline of the product features and benefits. A description of how the contract works is given in the policy provisions and conditions.
• For target asset mix of the underlying fund, please refer to company website i.e., https//www.efulife.com/ investor-relations/funds-prices/funds-performance-charts

Apply for EFU Accelerated Savings Plan today

For further details, please contact our Bancassurance Sales Manager / Officer at one of the selected MCB Bank Branches or call 111-000-622.

For brochure refer to: https://www.efulife.com/bancassurance/

EFU Privilege Plus Plan

Elevating Wealth To The Next Dimension With Protection

Discover the Privilege Plus Plan, a premier Unit Linked Insurance offering tailored exclusively for high-net-worth individuals, with a keen focus on savings and financial freedom. This plan is designed to elevate your wealth management to the highest level. Our esteemed clients choose the Privilege Plus Plan to unlock elite financial potential, ensuring superior returns and security for their financial future. With a focus on superior returns and unwavering financial security, it paves the way for a brighter and more prosperous future and ensuring that their financial aspirations are not only met but exceeded.

Disclosure of Product: This is a life insurance product which has two distinct elements i.e. Insurance Protection and Investment. The Investment Component is linked to the performance of underlying assets under unit-linked fund(s).

Free Look Period: If you cancel your policy within free look period of 14 days from the date of the documents receipt, you are entitled for a full refund of premium less any expenses incurred by EFU Life in connection with our medical or clinical examinations..

Plan objective:The premiums of the plan will be utilized to purchase units for the funds selected by the policy holder (insured person) who will have the facility to select from the unit savings funds based on his/her risk appetite and investment objectives at the inception of the policy.

Benefits:

Maturity Benefit:

At the end of the Policy Term, while the policyholder is still alive, the maturity benefit payable will be • Cash Value applicable to the regular plan premium. Plus • Cash Value applicable to FAP payment, if any.

Death Benefit:

The unfortunate demise of the policy holder (insured person) allows the nominated beneficiaries to receive the death benefit as given:

*Sum assured of the main plan or Cash value of the units applicable to the regular basic plan premium (whichever is higher).

*Plus Cash value of the units applicable to Fund Acceleration Premium (FAP) if any.

PRIMUS:

Another exclusive feature for our customers is PRIMUS. PRIMUS is the first of its kind concept in the Life insurance Industry. With PRIMUS you will experience a whole new world of exclusive benefits especially designed to cater to your needs.

Optional Benefits:

Accidental Death Benefit: *

If death occurs due to accident; this benefit provides an additional lump sum benefit.

Accidental Death and Disability Benefit Plus: *

This rider provides an additional lump sum benefit in case of an accidental death or disability (permanent & total) that makes you permanently disabled.

Additional Term Assurance:

This rider increases the level of life cover by providing an additional amount in case of death of the Life Assured.

Family Income Benefit:

This benefit ensures that a monthly income is paid to the family in case of an unfortunate death of the policy holder (insured person) during the plan term.

Life Care Enhanced Benefit:

This rider provides a flexible benefit ranging from Rs. 50,000 to sum equivalent to main plan sum assured subject to a maximum of Rs. 1.5 million, upon the diagnosis or the occurrence of any 20 covered critical illnesses.

Waiver of Premium:

In case the life assured is unable to follow any occupation due to the sickness or accident, the premium would be paid by EFU Life.

Return of Premium Benefit:

The Return of Premium rider is a unique benefit offered to prospective EFU Life customers. This rider enhances your coverage by giving you an extra benefit. In an unforeseen event of death of the life assured, the beneficiary will not only receive the death benefit, but will also be able to receive the total amount of paid premium excluding the premium paid for the ROP rider.

Pilgrimage Benefit:

During the Plan term, if the life assured travels for religious pilgrimage, EFU Life offers coverage on death due to an accident while performing pilgrimage (Hajj, Umrah or Ziarat- religious journey etc.) The coverage under this built-in accidental benefit will be 100% of the Main Plan Sum Assured, subject to a maximum limit of PKR 1,000,000.

This feature will be applicable for an additional period of 13 months from the date of maturity or from the date of full surrender.

Hospital Care Plus Benefit:

This rider will provide a daily benefit for each day of confinement in a hospital as a result of an accident or sickness.

*Any one of the three accidental death benefits can be selected at a time.

Fund Acceleration Premium:

If you have surplus cash available at any point of time during the plan term, it can be invested in the plan to enhance your cash value. These additional payments in the plan are called Fund Acceleration Premium payments. You can make these payments at any time while the policy is in force. The minimum FAP payment is Rs. 50,000. 100% of FAP payments are allocated to purchase units in the selected fund.

100% of FAP payments are allocated to purchase units in the selected fund

Partial Surrender:

Without surrendering your policy, you can withdraw any amount from your cash value to meet a sudden need. Partial Surrender is allowed subject to residual value of Rs. 500,000.

Complete Surrender:

You may surrender your plan after the 2nd year’s premium is paid. At the time of surrender, you will be paid the full cash value of your fund. However, surrender in early policy years may result in lower cash value.

Indexation:

This option gives you the security and peace of mind of knowing that the benefits provided by your plan will be automatically updated in line with inflation every year. Once you select this option, the premium will increase every year by 5% of the prior year’s premium.

Unit Allocation:

Following is the proportion of basic plan allocated to investment:

*** First Year Allocation is valid from 1st July 2023 to 30th June 2024.

*An allocation charges will be deducted from the Paid Premium every year as per the above table and the remainder will be allocated to the account value.

Sum Assured:

This is the amount payable on the unfortunate event of death of the policy holder / life assured. This is equal to the Regular Basic Plan Premium times the protection multiple selected by the policy holder. The Protection Multiple is subject to limits dependent on the age at commencement. Refer to the table below for further details:

Opportunities for Growth:

Every premium paid towards the plan will be invested in one of the internal investment funds of EFU Life. It is completely your decision to choose the internal fund based on your investment objectives. You can select from the following unit linked funds mentioned below:

All available funds are categorized with their risk profiling as per the investment criteria.

EFU Managed Growth Fund (Fund categorization: Balanced. Risk profile: Medium):

An investment fund with a balanced investment strategy. It aims to achieve reasonable capital growth and steady returns with investment in government securities, carefully selected blue chip equities and other fixed income securities and cash.

EFU Guaranteed Growth Fund* (Fund categorization: Money Market Fund. Risk profile: Low):

An investment fund providing steady returns with a guarantee that the bid price of the fund will never fall. It aims to achieve stable growth through investment in short term debt securities.

EFU Aggressive Fund (Fund categorization: Aggressive. Risk profile: High):

An investment fund with the aim of investing in equities providing a higher rate of return. It aims to maximize capital growth by using investments with an aggressive market outlook.

EFU Income Growth Fund (Fund categorization: Income Fund. Risk profile: Low):

Investment fund providing steady returns. It aims to achieve consistent capital growth with investment in government securities and high-quality corporate debt.

*EFU Guaranteed Growth Fund to be selected by default

Multiple Fund Option:

Under this option you have a facility to select a mix of two unit linked funds of the plan. Total premium under your policy will be allowed to be distributed in funds in multiples of 10%. It means that the funds split can be of 90/10, 80/20, 70/30, 60/40 or 50/50.

Policy Eligibility:

• Minimum Entry Age: 18 years (Age Next Birthday)
• Maximum Entry Age: 65 years (Age Next Birthday)
• Minimum Policy Term: 10 years
• Maximum Policy Term: 25 years
• Maximum Age at Maturity: 75 years
• Minimum Premium: PKR 500,000/- only
• Minimum Fund Acceleration Premium: PKR 50,000/-
• Sum Assured: Annual Premium x Protection Multiple
• Protection Multiples: 5-75 (depending on age of policy holder at entry)

Payment Modes:

• Annually (flexible for all modes)

Charges:

• Investment Management Charges: 0.125% of the fund value per month
• Bid / Offer Spread: 5% of the allocated Basic & Fund Acceleration Premium
• Administration Charges: PKR 2,880 per annum
• Mortality Charge (Cost of Insurance): An age-based mortality charge applies for the life insurance risk each year and is dependent on the sum at risk. No mortality charges apply in years where the cash value exceeds sum assured.
• Fund Switching Fee: PKR 500
• Surrender Processing Fee: PKR 500
• Surrender Charge: 100% for the first year
• Allocation charges: As per the unit allocation table

Claim

In case of an unfortunate event, you may file your claim intimation through any MCB Branch walk in, visiting the EFU Head Office or by visiting any of the EFU branches in the country. For a swift speedy process, you may also call us at our call center (021-111-338-111) or simply visit our website, fill in the intimation form and email it to us at [email protected]. Thereafter, you will be contacted for next steps.

Note

• This product is underwritten by EFU Life Assurance Ltd. It is not guaranteed or insured by MCB Bank or its affiliates and is not a MCB Bank product. EFU Life Assurance Ltd will be responsible for settlements of claims to the insured customer(s) or beneficiary(ies)
• MCB (Corporate Insurance Agent) is acting on behalf of the EFU Life Assurance Limited (insurer), who is the principal and responsible for all liabilities under the policy.
• The investment risk of the fund is borne by the policyholder (insured person) and actual maturity or surrender values may be lower or higher than the projected figures.
• The past performance of funds is not necessarily a guide to future performance. Any forecast made is not necessarily indicative of future or likely performance of the funds and neither EFU Life Assurance Ltd nor MCB Bank will incur any liability for the same.
• A personalized illustration of benefits will be provided to you by our sales representative. Please refer to the notes in the illustration for detailed understanding of the various terms and conditions.
• Service charges and taxes will be applicable as per the Bank's "Schedule of Charges" and taxation laws as stipulated by the relevant authorities.
• This product brochure gives a general outline of the product features and benefits. A description of how the contract works is given in the policy provisions and conditions.
• For target asset mix of the underlying fund, please refer to company website i.e., https//www.efulife.com/ investor-relations/funds-prices/funds-performance-charts

Apply for EFU High Privilege Plus Plan today

For further details, please contact our Bancassurance Sales Manager / Officer at one of the selected MCB Bank Branches, or call 111-000-622.

For brochure kindly refer to: https://www.efulife.com/bancassurance/