JS Mehfooz Sarmaya Plan - Single Premium Plan 

JS Mehfooz Sarmaya Plan is a specially designed single premium investment plan for achieving real capital growth with added benefit of life insurance coverage. Under this plan, your funds are managed by experts for maximum investment gains while maintaining minimal risk through portfolio diversification. JS Mehfooz Sarmaya plan is underwritten by EFU Life Assurance Ltd.

Unit Allocation:

100% of the Original Single Premium is allocated to purchase units in selected fund.

Fund Acceleration Premium:

100% of the Fund Acceleration Premium is allocated to purchase units in the selected fund.

Fund Selection Option:

Contribution paid towards the plan is invested in an internal investment fund of EFU Life based on your selection. As a policyholder, you have an option to select unit fund based on your investment objectives at the inception of the policy. You have two unit funds to choose from:

  • EFU Managed Growth Fund
  • EFU Guaranteed Growth Fund (version 2)

Loyalty Bonus:

The loyalty bonus unit allocation, in addition to the basic plan contribution, is as follows:

Policy Year Extra Unit Allocation
5 2%
10 3%
15 & every5 years thereafter 4%

Additional Benefits of JS Mehfooz Sarmaya

Sum Assured:

This is the guaranteed amount payable on death.

  • For ages 18 to 60 years at entry, the Sum Assured can range from 1.25 times to 2 times of the Original Single Premium.
  • For ages greater than 60 years, the Sum Assured will be 101% of the Original Single Premium.

Death Benefit:

For Ages 18-59 years:

Death Benefit up to age 70 years is equal to:

  • The greater of the Sum Assured (adjusted for partial surrenders), or Cash Values of the plan

Plus

  • The Cash value of the units applicable to FAP (If any).

Death Benefit after 70 years of age will be Total Cash Value.

For Ages 60 – 65 years:

Death Benefit up to age 5 policy years is equal to:

  • The greater of the Sum Assured (adjusted for partial surrenders), or Cash Values of the plan

Plus

  • The Cash value of the units applicable to FAP (If any).

Death benefit after 5 policy years of will be Total Cash Value.

For Ages above 65 years:

  • Death benefit will be the greater of the Cash Value and 101% of Original Single premium*

*On each partial surrender, for the purpose of calculating benefits as defined above, the original single premium will be reduced by the same proportion as the Cash Value surrendered

Built-in Accidental Death Benefit:

In case of accidental death of the life assured before age 60, an additional lump sum benefit will be paid. The amount of payout is equal to Original Single Premium adjusted for partial withdrawals. This benefit amount will be in addition to the Death Benefit.

Minimum Premium:

The minimum initial contribution is Rs. 50,000/- with no upper limit

Eligibility and Term:

The plan is available to any individual above the age of 18 years.

Disclaimer:

  • This product is underwritten by EFU Life Assurance Ltd. It is not guaranteed or insured by JS Bank Limited or its affiliates and is not a JS Bank product.
  • The contribution in the plan is invested in any one of the mentioned growth fund as chosen by the policyholder.
  • The past performance of the fund 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 JS Bank Limited will incur any liability for the same.
  • Service charges and taxes will be applicable as per the bank’s “Schedule of Charges” and taxation laws as stipulated by the relevant authorities.
  • A description of how the contract works is given in the policy provisions and conditions. This product brochure only gives a general outline of the product features and benefits.
  • JS Bank Limited reserves the right to levy such additional charges as may be required, to facilitate the making of contribution in the plan, in the event that the arrangement between JS Bank Limited and EFU Life Assurance Limited is discontinued.