For Whom Is This Plan Suitable?
This plan is ideal for businessmen, shopkeepers, factory owners, commission agents, investors, and individuals who require funds at different stages of life for future financial needs.
Free look period
The policyholder has the option to cancel the policy within 14 days after receipt of the policy document.
Important Details & Benefits
| Feature | What It Means for You |
|---|---|
| Survival Benefit | On completion of one-third of the policy term, 25% of the Sum Assured becomes payable. Similarly, on completion of two-thirds of the term, another 25% of the Sum Assured is payable. If the instalment is not exercised within six months of the due date, State Life allocates a special bonus on the due instalment. As long as the policy remains in force, the policyholder may surrender the unclaimed instalments along with the special bonus. The aggregate cash surrender value will not be less than the amount of the unclaimed instalment. |
| Surrender Value and Loan Value | The policy acquires a surrender value after remaining in force for at least two full years with no premium default. A policy loan is also available. State Life may grant a loan up to 80% of the policy’s surrender value upon written request. Profit rates and other terms are determined at the time of loan approval. |
| Maturity Benefits | On completion of the policy term, the remaining 50% of the Sum Assured along with accrued bonuses becomes payable. If any survival instalments were not availed, those instalments plus special bonuses are also paid. |
| Death Benefit | In the event of the policyholder’s death (God forbid) during the policy term, the full Sum Assured plus accrued bonuses is paid, regardless of any survival benefits already received. Any unclaimed instalments along with special bonuses are also payable. |
Plan Eligibility & Term
| Feature | Details |
|---|---|
| Entry Age | 20 to 57 years |
| Tenure | 18, 21, 24, 27 & 30 years |
| Minimum Premium with Modes |
Annually: PKR 15,000 Half-yearly: PKR 10,000 Quarterly: PKR 7,500 Monthly: PKR 4,000 |
Customize Your Safety Net (Optional Add-ons)
- Family Income Benefit (FIB): Ensures your nominee receives a regular annual income instalment ranging from 10% to 50% of the Sum Assured in case of death (God forbid) during the policy term.
- Waiver of Premium (Special WP): Premiums are waived if the policyholder suffers Total and Permanent Disability due to accident or sickness.
- Refund of Premium Rider (RPR): Provides a full refund of premiums paid if death occurs during the policy term.
- Accidental Indemnity Benefit (AIB): Provides payouts for accidental loss of life, sight, or limbs, including weekly indemnity for temporary disability.
- Accidental Death Benefit (ADB): Pays an additional Sum Assured amount in case of death due to an accident.
- Guaranteed Insurability (GI): Allows purchase of additional insurance coverage in the future at standard rates without further medical evidence.
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 does not guarantee or assume liability for the policy or its claims.
- Past performance of State Life is not a guarantee of future results.
- A personalized benefit illustration will be provided for complete details.
- Policyholders should review the benefit illustration and official policy documents carefully.
- Standard service charges and government taxes apply as per applicable laws.