Jubilee LifePartner Plan

Companion for life

Some things in life are too important to be left unplanned. Whether it is your life companion or your business partner, you have responsibilities to ensure the financial security of your dependents and business. Jubilee LifePartner is a Joint Life Unit Linked Whole Life Plan that will help you provide financial protection for both partners under a single plan. We can help you keep your loved ones or your business financially secure, given you may not always be there to help.

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).

Unit Allocation:

The proportions allocated to your Account Value will be as follows:

Key Benefits

• Select any of the additional optional benefits to enhance your protection.
• Facility to withdraw the accumulated cash value of your funds either partially or fully.
• Top-up your investments with extra savings that you may have.
• An option to cope with inflation by increasing your premium
• Long term financial security for you and your family.
• Policyholder can cancel the policy within 14 days from the receipt of policy documents.

Free-Look Period

Jubilee Life offers a free look period of 14 days during which you can review your policy terms and conditions and may like to cancel the policy if needed. Your premium will be refunded if the written request for cancellation is received within 14 days from the receipt of policy documents. Please note that Jubilee Life reserves the right to deduct the expenses incurred on medical examination (if any).

Investment Fund Options:

1. Jubilee Life Balanced Fund (Medium Risk): A fund designed to generate competitive long term returns with balanced allocation in Equity, Government securities and other wide range of allowable asset classes. It is classified as fund having medium risk profile.
2. Jubilee Life Government Securities (Low Risk): A fund designed to provide sustainable returns over long term with exposure in Government securities, Government securities related instruments and bank deposits. It is classified as fund having low risk profile.

Policy Eligibility:

• Minimum Entry Age: 18 year
• Minimum Entry Age: 65 year
• Minimum Premium Payment Term: 10 years

Payment Modes

• Annually
• Semi-Annually
• Quarterly
• Monthly

Charges:

In addition to reduced allocation in initial years, following charges would apply on the plan:

• Bid / Offer Spread: 5 % of basic Premium
• Recurring Charges: 1.5% p.a. of Fund Value
• Administration Charges: PKR 145 per month
• Mortality Charges: As per SECP filing
• Switching Charges: Four switching are free per year, if more than four switching are opted per year a charge of PKR 500 would be applicable.
• Premium Allocation Charge: Premium allocation charge for the year is calculated as hundred percent of the premium received less percentage of the allocated premium for the year.

*All charges are reviewable by the Company

Apply for Jubilee LifePartner 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.jubileelife.com/insurance-plans/bancassurance/mcb-bank-limited/

Note

• MCB Bank Limited is acting as a distributor of Jubilee LifePartner Plan on behalf of Jubilee Life, and is not responsible in any manner, whatsoever, to the customer, his/her beneficiary/ies or any third party.
• All Jubilee LifePartner applications are processed and approved by Jubilee Life, as per their underwriting guidelines. MCB Bank Limited is not responsible for the processing and approval of these applications in any way, whatsoever.
• The aforementioned only provides 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.

Jubilee Prime Life Plan

The reward you deserve

To live a carefree life one must ensure that they have the necessary means to protect themselves from any unforeseen events that could prevent them from leading the life according to their own wishes. Jubilee Life Insurance Company Limited brings to you a unit linked endowment plan, Jubilee Prime Life Plan, a plan exclusively designed for individuals who want to get optimized returns from their investment along with a life protection cover.

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).

Unit Allocation:

The proportions allocated to your Account Value will be as follows:

Key Benefits

• Select your protection according to your needs.
• Flexibility of making premium payments.
• Enhance your coverage by selecting all or any of the optional riders.
• Insurance coverage of up to 15 years with a premium payment term of only 5 years.
• Freedom of withdrawing your investments either partially or completely to meet any emergency need.
• Policyholder can cancel the policy within 14 days from the receipt of policy documents.

Free-Look Period

Jubilee Life offers a free look period of 14 days during which you can review your policy terms and conditions and may like to cancel the policy if needed. Your premium will be refunded if the written request for cancellation is received within 14 days from the receipt of policy documents. Please note that Jubilee Life reserves the right to deduct the expenses incurred on medical examination (if any).

Fund Management

1. Jubilee Life Balanced Fund (Medium Risk): A fund designed to generate competitive long term returns with balanced allocation in Equity, Government securities and other wide range of allowable asset classes. It is classified as fund having medium risk profile.
2. Jubilee Life Government Securities (Low Risk): A fund designed to provide sustainable returns over long term with exposure in Government securities, Government securities related instruments and bank deposits. It is classified as fund having low risk profile.

Policy Eligibility:

• Minimum Entry Age: 18 year
• Maximum Entry Age: 65 years
• Minimum Premium Payment Term: 5 years

Payment Modes

• Annually
• Semi-Annually
• Quarterly
• Monthly

Charges

In addition to reduced allocation in initial years, following charges would apply on the plan:

• Bid / Offer Spread: 5 % of basic premium
• Management Charges: 1.5% p.a. of Fund Value
• Administration Charges: PKR 245 per month
• Mortality Charge: As per SECP filing
• Switching Charge: Four switching are free per year, if more than four switching are opted per year a charge of PKR 500 would be applicable.
• Full Surrender / Partial Withdrawal Charge: 5% charge in the first and second policy year. No charges apply after the first two policy years.
• Premium Allocation Charge: Premium allocation charge for the year is calculated as hundred percent of the premium received less percentage of the allocated premium for the year.

*All charges are reviewable by the company

Apply for Jubilee Prime Life 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.jubileelife.com/insurance-plans/bancassurance/mcb-bank-limited/

Note

• MCB Bank Limited is acting as a distributor of Jubilee Prime Life plan on behalf of Jubilee Life, and is not responsible in any manner, whatsoever, to the customer, his/her beneficiary/ies or any third party.
• All Jubilee Prime Life applications are processed and approved by Jubilee Life , as per their underwriting guidelines. MCB Bank Limited is not responsible for the processing and approval of these applications in any way, whatsoever.
• The aforementioned only provides 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.

Jubilee Jazaa Takaful Plan

The ultimate reward

Your saving is a major priority when you are the only breadwinner of your family. The only way to secure your family's future is to ensure that you have built a strong financial foundation for them to fall back on in case of any unforeseen event. Keeping this in view, Jubilee Life Insurance Company - Window Takaful Operation brings to you 'Jubilee Jazaa Takaful Plan' that provides you optimal return on your hard-earned money and a takaful protection cover so that your family's future remains secure.

Unit Allocation:

The proportions allocated to your Account Value will be as follows:

Product Benefits

• Death Benefit: If the life covered expires during the term of the membership, the nominee will get Sum Covered or accumulated cash value, whichever is higher. The range of Cover Multiples offered under this plan is 5-25, hence your Sum Covered can be 5 to 25 times of your annual basic contribution, depending upon underwriting outcomes.
• Maturity Benefit: You will receive an amount accumulated in Participants Investment Account (PIA), at the time of maturity of the plan. For further information, you may consult our Takaful Consultant.

Free-Look Period

Jubilee Jazaa Takaful Plan offers a free look period of 14 days during which you can review your membership terms and conditions and cancel the Membership if needed. Contribution will be refunded if the written request for cancellation is received within 14 days from the receipt of the Membership documents.

Policy Eligibility:

You are eligible to avail the Jubilee Jazaa Takaful Plan, if you are from 18 to 65 years of age.

Payment Modes

• Annually
• Semi-Annually
• Quarterly
• Monthly

Charges

In addition to reduced allocation in initial years, following charges would apply on the plan:

• Bid / Offer Spread: 5 % of basic Premium
• Allocation Charges: Amount of Regular Basic contribution not allocated to the PIA.
• Investment Management Charges: 1.5% p.a. of Net Asset Value in PIA.
• Administration Charges: PKR 245 per month
• Takaful Contribution: As filed with SECP from PIA credited to IFTPF for the benefit covered to be paid from IFTPF.

  *40% of each Takaful contribution for benefits covered under Participants Membership Document

  *40% of each Takaful contribution for benefit covered under the Supplementary Takaful Benefit Documents.

• Wakalah Fee from IFTPF: Deducted from Wakalah Fees from IFTPF.
• Switching Charges: Four switching are free per year, if more than four switching are opted per year a charge of PKR 500 would be applicable.
• Mudarib Share (Contribution from Investment Income): The Window Takaful Operator (Mudarib) will be entitled to 40% of the investment in earned by IFPTF (Rabb ul Maal) on the basis of Mudarabah.

*All charges are reviewable by the Window Takaful Operator

Apply for Jubilee Jazaa Takaful 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://jubileefamilytakaful.com/banca-takaful/mcb/

Note

• MCB Bank Limited is acting as a distributor of Jubilee Jazaa Takaful Plan on behalf of Jubilee Life, and is not responsible in any manner, whatsoever, to the customer, his/her beneficiary/ies or any third party.
• All Jubilee Jazaa Takaful Plan applications are processed and approved by Jubilee Life, as per their underwriting guidelines. MCB Bank Limited is not responsible for the processing and approval of these applications in any way, whatsoever.
• The aforementioned only provides 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.

The ultimate reward

Your saving is a major priority when you are the only breadwinner of your family. The only way to secure your family's future is to ensure that you have built a strong financial foundation for them to fall back on in case of any unforeseen event. Keeping this in view, Jubilee Life Insurance Company - Window Takaful Operation brings to you 'Jubilee Jazaa Takaful Plan' that provides you optimal return on your hard-earned money and a takaful protection cover so that your family's future remain secure.

Disclosure of Product: This is a family Takaful product which has two distinct elements i.e., Takaful Protection and Investment. The investment component is linked to the performance of underlying assets under unit linked fund(s).

Unit Allocation:

The proportions allocated to your Account Value will be as follows:

Product Benefits:

• Death Benefit: If the life covered expires during the term of the membership, the nominee will get Sum Covered or accumulated cash value, whichever is higher. The range of Cover Multiples offered under this plan is 5-25, hence your Sum Covered can be 5 to 25 times of your annual basic contribution, depending upon underwriting outcomes.
• Maturity Benefit: You will receive an amount accumulated in Participants Investment Account (PIA), at the time of maturity of the plan. For further information, you may consult our Takaful Consultant.

Free-Look Period:

Jubilee Jazaa Takaful Plan offers a free look period of 14 days during which you can review your membership terms and conditions and cancel the Membership if needed. Contribution will be refunded if the written request for cancellation is received within 14 days from the receipt of the Membership documents.

Shariáh Complaint Funds:

• Family Takaful Income Fund (Low Risk): Family takaful income fund focuses on providing sustainable returns with minimum risk over medium to long term by investing in Shari’ah Complaint Instrument. It is classified as fund having low risk profile.
• Family Takaful Balanced Fund (Medium Risk): Family takaful balanced fund focuses on providing competitive returns on investment with a balanced portfolio of wide range of Shari’ah Complaint Instrument. It is classified has fund having medium risk profile

Policy Eligibility:

ou are eligible to avail the Jubilee Jazaa Takaful Plan, if you are from 18 to 65 years of age.

Payment Modes:

• Annually
• Semi-Annually
• Quarterly
• Monthly

Charges:

In addition to reduced allocation in initial years, following charges would apply on the plan:

• Initial Charge: 5 % of bid-offer spread
• Allocation Fee: Amount of Regular Basic contribution not allocated to the PIA.
• Investment Management Fee: 1.5% p.a. of Net Asset Value in PIA.
• Administration Fee*: PKR 245 per month
• Takaful Contribution: As filed with SECP from PIA credited to IFTPF for the benefit covered to be paid from IFTPF.

*40% of each Takaful contribution for benefits covered under Participants Membership Document

*40% of each Takaful contribution for benefit covered under the Supplementary Takaful Benefit Documents.

• Wakalah Fee from IFTPF: Deducted from Wakalah Fees from IFTPF.
• Switching Charges: Rs. 500 per switch if more than four (4) are availed in a membership year.
• Mudarib Share* (Contribution from Investment Income): The Window Takaful Operator (Mudarib) will be entitled to 40% of the investment in earned by IFPTF (Rabb ul Maal) on the basis of Mudarabah.
• Contribution allocation charge: Contribution allocation charge for the year is calculated as hundred percent of the contribution received less percentage of the allocated contribution for the year.

*All charges are reviewable by the Window Takaful Operator.

Apply for Jubilee Jazaa Takaful 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.jubileelife.com/insurance-plans/bancassurance/mcb-bank-limited/

Note

• MCB Bank Limited is acting as a distributor of Jubilee Jazaa Takaful Plan on behalf of Jubilee Life, and is not responsible in any manner, whatsoever, to the customer, his/her beneficiary/ies or any third party.
• All Jubilee Jazaa Takaful Plan applications are processed and approved by Jubilee Life, as per their underwriting guidelines. MCB Bank Limited is not responsible for the processing and approval of these applications in any way, whatsoever.
• The aforementioned only provides 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.

Jubilee Sapphire Plan

Experience the unparalleled joy of achieving maximum returns on your investment, alongside the fulfillment of providing for your family. The assurance of their security brings a profound sense of peace and ease, empowering you to pursue your dreams confidently.

Embrace the life-changing opportunity presented by the 'Jubilee Sapphire Plan,' in collaboration with MCB Bank Limited, offered by Jubilee Life Insurance. This plan not only ensures the best future protection but also guarantees impressive returns. Invest in your family's future and unlock a brighter tomorrow with the Jubilee Sapphire Plan.

Features

• Select any of the additional optional benefits to enhance your protection.
• Facility to withdraw the accumulated cash value of your funds either partially or fully.
• Top-up your investments with extra savings that you may have.
• An option to cope with inflation by increasing your premium.
• Long term financial security for you and your family.
• Policyholder can cancel the policy within 14 days from the receipt of the policy document.

Salient Features

• Eligibility: You are eligible to avail the Jubilee Sapphire Plan, if you are from 18 to 70 years of age.
• Term: The available term range is 10 to 25 years, subject to maximum age of 80 years at maturity.
• Minimum: Premium The minimum premium requirement under this plan is PKR 1,250,000 annually.
• Mode: of Payment Annually and Semi-Annually.

Product Benefits

• Death Benefit

In case of unfortunate death, your nominated beneficiaries will receive the sum assured or the accumulated cash value of your funds (whichever is higher).

Sum assured is the guaranteed minimum amount payable on death. Sum assured is determined by multiplying the annual basic premium with a Cover Multiple. The range of Cover Multiples offered under this plan is 5 to 25; hence, your Sum Assured could be 5 to 25 times of annualized basic premium.

For example, if your annual basic premium is PKR 1,250,000 and you have selected a cover multiple of 10, your total sum assured would be

PKR 1,250,000 x 10 = * 12,500,000

*The range of cover multiples available to the policy holder varies with the age at entry of the life assured and underwriting outcome.

• Maturity Benefit

At the end of the term of the plan, the policy holder will receive the Cash Value accumulated during the term of the plan.

Optional Benefits

Jubilee Sapphire Plan also gives you the option to select any or all the following optional benefits:

• Accidental Death or Dismemberment Benefit (ADD)

Accidental disability or death of the family’s bread earner can drastically drop the household income and make it difficult for the family to make ends meet. This benefit provides extra protection in case of dismemberment or death caused by accident, by paying an additional amount to help your family through such circumstances.

• Accidental Death Benefit (AD)

An amount in addition to the basic plan death benefi¬t will be paid to the bene¬ficiary or benefi-ciaries chosen by you in case of accidental death.

• Jubilee MediPal

This rider provides financial protection in case of illness or accident that leads to hospitalization with coverage up to the annual limit of PKR 250,000 for in-patient expenses incurred by the life assured. Furthermore, the life assured can also select MediPal for his/her spouse. The policy holder will have the advantage of obtaining quality medical care services coupled with a Private Room at any of the approved hospitals without having to pay anything.

For further details, please refer to the separate leaflet of Jubilee Medipal.

• Medical Second Opinion Benefit

This benefit offers you a choice of obtaining a second medical opinion from specialists located all over the world so that you can find correct diagnosis and a treatment plan which will help you make informed decisions about your life.

For further details please refer to the separate leaflet of Medical Second Opinion.

• Cancer Cover Benefit

This benefit provides coverage in case you are diagnosed with cancer so that you and your loved ones can be relieved from the imminent financial burden and focus solely on your recovery and health. The benefit amount will be paid to you depending on the stage of the cancer i.e. either Early Stage or Late Stage.

Premium

The minimum premium for the Jubilee Sapphire Plan is PKR 1,250,000. You can pay the premium yearly or half-yearly. A breakdown of the minimum premium payment is given below:

Premium Allocation

The premiums paid are allocated as shown in the table below:

*Bonus allocations are subject to terms and conditions

Ad-hoc: 100%

How will my premiums towards Jubilee Sapphire Plan be managed by Jubilee Life?

Your allocated premiums will be invested in the funds of your choice. These funds are managed by expert investment managers and backed by premium securities.

Jubilee Life offers you a choice of the following four funds. You can choose to invest fully in any one fund that suits your investment needs or split your premium between the available options.

Jubilee Life Balanced Fund

A fund designed to generate competitive long-term returns with balanced allocation in Equity, Government securities and other wide range of allowable asset classes. It is classified as fund having medium risk profile.

Jubilee Life Government Securities Fund

A fund designed to provide sustainable returns over long term with exposure in Government securities, Government securities related instruments and bank deposits. It is classified as fund having low risk profile.

Your Premiums, by default, will be allocated to Jubilee Life Government Securities Fund of the Jubilee Life Insurance. It offers competitive returns with minimum risk, over medium to long-term, by investing in a diversified portfolio of different money market & government debt securities and does not have any investment in equity securities.

However, you have the option to invest in any fund of your choice other than the default investment fund by signing the declaration form.

Your invested premiums are managed by expert investment managers and backed by premium financial securities to ensure optimized returns with manageable risk exposure.

Your premiums will earn investment returns during the term of the plan. At the end of the chosen term, you will receive your accumulated cash value as a lump sum.

Note: The past performance of these funds is not necessarily indicative of the future performance of any of these funds.

Unit prices of Jubilee Life's fund(s) are published in all leading dailies and the Jubilee Life website: www.jubileelife.com

Combating Inflation

In order to combat inflation, you have an option to select indexation in your policy. Selection of this option will increase your premium automatically each year by a limit specified by the Company. However, you retain the right to cancel the indexation if you wish.

• Automatic Cover Maintenance

In case you cannot meet your premium payments after the first policy year, you will still be eligible for the life insurance cover, as long as your plan’s cash value is sufficient to pay for charges made against your policy.

• Ad-hoc Premium

To enhance your Cash Value at any given time in your policy, you can top up your unit account(s) under this plan by making ad-hoc premium payments. These premiums would be invested in the Unit Account(s) at the then prevailing offer price(s).

Withdrawal of Investments

With Jubilee Sapphire Plan you have the facility to withdraw the cash value of your fund (investments), either partially or completely:

• Partial Withdrawal If you need to withdraw your cash value for meeting some emergency needs, but do not want to surrender the policy, you can withdraw any amount (subject to minimum withdrawal amount prescribed by Jubilee Life Insurance) provided that the residual cash value in your unit account after partial surrender is greater than or equal to PKR 1,250,000*. A partial surrender charge of 5% will be applied to Cash Value of units during the first two policy years. No partial surrender charge will be applicable after the first two policy years.

Despite partial withdrawals, you will continue to receive life insurance cover although your sum assured will be reduced by the amount of partial withdrawals.

*The residual value is subject to change and may be revised by Jubilee Life Insurance.

• Full Policy Surrender You can surrender your policy at any point of time. However, surrender in first two policy years will be subject to 5% of surrender charges of the accumulated cash value. No surrender charge will be applicable after the first two policy years.

If you continue to invest in the Jubilee Sapphire Plan over a prolonged period of time, you can benefit with higher Cash Values in later years. At the time of surrender, you will be paid the accumulated cash value of your fund. However, surrender in early policy years may result in lower cash values.

Pricing Methodology

Jubilee Life follows forward unit pricing methodology. It is worked out by dividing the total value of investments in the fund by the number of active units in the fund as of pricing date.

Free Look Period

Jubilee Life offers a free look period of 14 days during which you can review your policy terms and conditions, and may like to cancel the policy if needed. Your premium will be refunded if the written request for cancellation is received within 14 days from the receipt of policy documents. Please note that Jubilee Life reserves the right to deduct the expenses incurred on medical examination (if any).

Charges

The following charges* are applicable on the Jubilee Sapphire Plan:

*All charges are reviewable by the company.

Note

• This product is underwritten by Jubilee Life. It is not guaranteed or insured by MCB Bank Limited or its affiliates and is not a product of MCB Bank Limited.
• 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).
• The past performance of Jubilee Life 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 Jubilee Life nor MCB Bank Limited will incur any liability for the same.
• Our sales representative will provide a personalized illustration of benefits to you. Please refer to the notes in the illustration for detailed understanding of the various terms and conditions.
• Please refer to the Policy Documents for detailed understanding of the various terms and conditions.
• Supplementary Benefits may be available if the life covered is aged 55 years or less (except for MediPal) nearest birthday at the time of issuance.
• MCB Bank Limited is acting as a distributor on behalf of Jubilee Life Insurance and is not and shall not be held responsible in any manner whatsoever to any person, including but not limited to the insured customer(s), beneficiary (ies) or any third party.
• Jubilee Life Insurance is the underwriter and provider of this Insurance Policy and shall be responsible for policy servicing and lodgment, processing, & settlement of claims to the insured customer(s) or beneficiary (ies).
• The investment risk shall be borne by the Policyholder and actual maturity or surrender values may be lower or higher than the projected figures. A declaration must be signed by the policyholder if he/she opts to invest in a fund other than the default fund.
• Please refer to company web site (https://www.jubileelife.com/funds-2/fund-manager-reports/) for target asset mix of the underlying fund.

APPLY FOR JUBILEE LIFE SAPPHIRE 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.jubileelife.com/insurance-plans/bancassurance/mcb-bank-limited/