THE PLAN

JS Mehfooz Sarmaya Plan is a specifically designed single premium investment plan for achieving real capital growth with the 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.

ELIGIBILITY AGE

The plan is available to anyone with the minimum age of 18 years.

POLICY TERM

Whole of life.

SINGLE CONTRIBUTION

The minimum initial Premium is Rs. 50,000/- with no maximum limit.

FUND ACCELERATION PREMIUM
(Lump Sum Adhoc Contribution)

Fund Acceleration Premiums (FAP) can be paid at the commencement date or at any time while the policy is in force. The minimum FAP is Rs. 50,000.

INVESTMENT PROPORTION

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

(i) Unit Allocation

Single Premium 100%

(ii) FAP Unit Allocation

100% of FAP payment is allocated to purchase units.

LOYALTY BONUS ALLOCATION %

You can enjoy loyalty bonus for your long standing relationship. These bonus units will be applicable every 5 years starting from the end of 5th policy year. The loyalty bonus unit allocation in addition to the basic plan contribution, is as follows:

End of Policy YearLoyalty Bonus Allocation as % of Single Premium
52%
103%
15 and every 5 years thereafter4%

UNIT LINKED FUND

The premiums in the plan are linked to the Unit Linked fund which can be invested in any one of the Fund option given below ( to be selected at policy issuance)

  1. Managed Growth fund
  2. Guaranteed Growth fund

SUM ASSURED

Sum Assured is equal to the Annual Basic Premium times the Sum Assured
Age at entry: For all entry ages
Sum Assured: 1.25 – 2 times the Original Single Premium

BENEFIT ON DEATH

Benefit payable on death is,
For Ages 18 – 59 years at entry:
Death benefit up to age next birthday 70 years will be
Greater of: Main Plan Sum Assured
OR
The Basic Cash Value of the Main Plan
PLUS
The Cash value from Fund Acceleration Premium.
Death benefit after 70 years of age will be total cash value.
For Ages 60 years and above at entry:
Death benefit for 5 policy years will be
Greater of: Main Plan Sum Assured
OR
The Basic Cash Value of the Main Plan
PLUS
The Cash value from Fund Acceleration Premium.
Death benefit after 5 policy years will be the Total Cash Value.

CHARGES

Fund Management Charge: 1.5% per annum.
Bid/Offer Spread: 5% of the net premium

CASH WITHDRAWAL

The Policy can be encashed at any time (either fully or partially)
The Client can make partial cash withdrawals after commencement and keeping the plan in force. This facility is subject to Rs. 20,000 remaining in the plan after such withdrawals (excluding the cash value of the FAC).
The FAP cash value can be withdrawn in full or partially at any time whilst the policy is in force.

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 the Original Single Premium adjusted for partial withdrawals. This will be in addition to the Death Benefit specified above.