This Plan is suitable for entrepreneurs, e.g., Lawyers, Doctors, Engineers, Businessmen, and Service-Oriented People, Teachers, newly Married Couples, especially for middle-class people having limited income. It is the ideal solution if you are saving for:
- A Worry-Free Retirement
- Children’s Higher Education or Marriage
- Business Expansion
- Buying a Home or Paying off Debt
What are the Benefits of Endowment Plan
1. The Plan provides a handsome lump sum amount at maturity or (God forbid) at the death of the assured.
2. Endowment Plan is issued with Profit Basis. The sum assured and terms of the Policy are determined in accordance with the future needs and paying capacity of the Policy Holder.
Free look period
The Policy holder has an option to cancel the policy within 14 days after receipt of the policy document.
Core Benefits
- Maturity Benefit: The sum assured plus accrued bonuses are payable by State Life upon completion of the Term of the Policy. This amount fulfills the dreams of financial security of the policyholder and his near and dear ones.
- Surrender Value and Loan Value: Policies issued under this plan will acquire a surrender value after they have been in force for at least two full years and no premiums are in default. Policy loans are also available. State Life grants 80% loan against the policy’s surrender value on written request. Terms and profit rates are determined at the time of granting the loan.
- Death Benefits: In case of death (God forbid) of the Policyholder during the currency of the Policy, State Life pays the sum assured plus accrued bonuses up till then. This provides financial security to the family and dependents when they need it most.
Plan Eligibility & Term
| Feature | Details |
|---|---|
| Age Eligibility | 10 to 65 years |
| Tenure | Minimum: 10 Years Maximum: by the age of 75 years |
| Minimum Premium with Modes |
Annually: PKR 15,000 Half-yearly: PKR 10,000 Quarterly: PKR 7,500 Monthly: PKR 4,000 |
Customize Your Protection (Smart Add-ons)
Enhance your coverage with these powerful riders to create a complete safety net:
- Special Waiver of Premium: Premiums are waived if the policyholder becomes totally and permanently disabled due to accident or sickness, unable to work for at least six months.
- Guaranteed Insurability (GI): Allows purchasing additional life insurance coverage up to specified limits in the future at standard rates, without further medical evidence.
- Refund of Premium Rider (RPR): Provides a refund of premiums paid if the policyholder dies during the policy term.
- Hospital and Surgical Benefit (H&S): Covers hospitalization in approved hospitals due to sickness or accident, including room and board charges, hospital services, and surgical costs.
- Family Income Benefits (FIB): Adds a regular annual income to the nominee(s) if the policyholder dies during the FIB term, in addition to the basic sum assured. The installment ranges between 10% and 50% of the basic sum assured depending on additional premium paid.
- Accidental Death Benefit (ADB): Provides an additional payout equal to the basic sum assured in case of accidental death during the policy term.
- Term Insurance: Adds a term insurance contract to the plan, paying an amount equal to the basic sum assured on the policyholder’s death during the term.
- Waiver of Premium (WP): Waives all future premiums if the policyholder becomes totally and permanently disabled due to an accident affecting their income.
Will there be any bonuses on this policy?
State Life announces a bonus every year. 97.5% of surplus is distributed as bonuses to all with-profit policies. Historical data shows a steady increase in bonus rates, meaning the value of this with-profit plan grows each year.
Disclaimer
- The insurance policy is officially underwritten and issued by State Life Insurance Corporation of Pakistan.
- JS Bank acts solely as a corporate distributor/agent and is not responsible for policy guarantees, insurance coverage, or claims.
- Past performance of State Life does not guarantee future results; outcomes may vary.
- A personalized benefit illustration detailing all terms and conditions will be provided by our staff.
- Review the benefit illustration and official policy documents carefully for a full understanding.
- Standard service charges and government taxes apply as per regulatory laws.