THE PLAN

JS Women’s Savings Plan is Pakistan’s first Insurance Program designed around the needs of women. Whether you are a house – wife or a working woman, the plan ensures that your savings continue to grow every year, allowing you to remain confident at every step of your life. JS Women’s Savings Plan is underwritten by EFU Life Assurance Ltd.

ELIGIBILITY AGE

Anyone between the ages of 18 years and 55 years next birthday

POLICY TERM

10 to 25 years subject to a maximum age of 70 years at maturity

REGULAR PREMIUM

The Minimum Annual Basic Regular Premium is as follows

ModeMinimal Modal Premium
AnnualRs. 24,000 per annum
Half YearlyRs. 12,000 per half year
QuaterlyRs. 6,000 per quarter
MonthlyRs. 2,000 per month

“FUND ACCELERATION PREMIUM
(Lump Sum Adhoc Contribution)”

Fund Acceleration Premium (FAP) can be paid at the commencement date or at any time while the policy is in force. The minimum FAP is Rs. 24,000.

INVESTMENT PROPORTION

The allocation of the annual basic plan contribution to buy units in the selected fund is as follows:

(i) Unit Allocation

Year Unit Allocation %

YearUnit Allocation %
140%
280%
390%
4 to 5100%
6 to 10103%
11 and onwards105%

(ii) FAP Unit Allocation

100% of FAP payment is allocated to purchase units.

UNIT LINKED FUND

The premiums in the plan are linked to the Unit Linked fund which is invested in multiple Fund option ( to be selected at policy issuance)

  1. Managed Growth fund
  2. Guaranteed Growth fund
  3. Aitemad Growth fund

SUM ASSURED

For Professionals: Sum assured is equal to the Annual Basic Premium times the Protection Multiple. The Protection Multiple is subject to limits dependent upon the age at commencement

Age (years)Protection Multiple
18 to 355 to 75
36 to 405 to 50
41 to 495 to 35
50 to 555 to (75-Age)

For housewives, the sum assured is 15 times Basic Annual Premium,subject to a maximum amount of PKR 500,000.

INFLATION

Under this option, the premium will increase every year by 5% of the previous year’s contribution with appropriate increase in bene ts, without any medical evidence.

BENEFIT ON DEATH

Benefit payable on death is,
Greater of:
Sum Assured
OR
“Cash Value of units allocated against basic premium.

PLUS
Cash Value of units allocated against FAP (if any)

MATURITY BENEFIT

Benefit payable on maturity is,
“Cash Value of the units applicable to the Regular Basic Plan premium.

PLUS
Cash Value of units allocated against FAP (if any)

CHARGES

Fund Management Charge: 1.5% per annum.
Bid/Offer Spread: 5% of the net contribution
Administration Charges: Rs. 50 per month deducted annually.

CASH WITHDRAWAL

The Policy can be encashed at anytime after the second year’s regular premium payment.
The Client can make partial cash withdrawals after commencement whilst continuing to make regular premiums and keeping the plan in force. This facility is subject to Rs. 24,000 remaining in the plan after such withdrawals (excluding the cash value of the FAP).
The FAP cash value can be withdrawn in full or partially at any time whilst the policy is in force.

ADDITIONAL BENEFITS

The following riders are available with this product only for woking professionals:

  1. Additional Term Assurance
  2. Accidental Death and Disability Benefit
  3. Waiver of Premium
  4. Family Income Benefit (Built in for both professionals and housewives)
  5. Medical Recovery Benefit
  6. Life Care Benefit Plus (Available for both professionals and housewives)