Pak-Qatar Regular Takaful & Savings Plan

• Secure your long-term financial goals such as children’s education, marriage, retirement planning, and/or personal travel

• Significant family Takaful coverage

• Flexible contribution payment term, allowing you to save regularly with investment options tailored to your risk appetite

• Regular contributions invested in a diversified portfolio of Islamic investment avenues including Sukuks and Islamic Mutual Funds

• Lump sum payment upon maturity

• Professionally managed investments by experienced fund managers

• Bonus allocation of 5% from the 6th year onward on Regular Contributions

• Bonus allocation of 1% on Additional Lump Sum Contributions

Maturity Bonus

This plan offers flexibility to contribute for a minimum of 10 years, with continued Takaful and investment benefits beyond your payment term until maturity.

A) Built-in Benefits

• Terminal Illness Benefit: In case of terminal illness (life expectancy < 12 months), the Takaful Death Benefit is paid early

• Hajj Benefit: If death occurs during Hajj due to any cause, Takaful Death Cover is paid in addition to the regular death benefit

B) Optional Takaful Benefits

1. Accidental Death Benefit (ADB)

2. Accidental Death & Disability Benefit (ADDB)

3. Family Income Benefit (FIB)

4. Children Education Benefit (CEB)

Details:

• “Accidental” refers to a sudden, unexpected, unpremeditated incident with external visible impact.

• A Participant is considered to have permanent and total disability if they are unable to perform any job/profession for at least 6 months, certified by an authorized body.

• Children Education Benefit (CEB) is payable till the rider’s expiry.

• Family Income Benefit (FIB) is payable for the full selected term.

Death Benefit

Pak-Qatar Regular Takaful & Savings Plan (G6) includes a built-in Takaful Benefit, allowing beneficiaries to receive funds if the Participant passes away during the plan term.

The Participant can choose either:

• Higher of Takaful Death Cover OR accumulated Cash Value, OR

• Takaful Death Cover + accumulated Cash Value

Maturity Benefit

At plan maturity, the Participant receives:

• Total Cash Value in the investment account

• Maturity Bonus based on Membership Term:

• Available to Bank customers aged 18 to 70 years

• Minimum plan duration: 10 years

Conservative Fund Strategy

• Low-risk Islamic investments such as Sukuks, Cash/Income Mutual Funds, and Bank Placements

Growth Fund Strategy

• Exposure to equity-based Islamic investments with higher risk/return potential

• Investments may include Equity Mutual Funds, Equity Shares, Sukuks, and Cash/Income Funds

Participants selecting the Growth Strategy must sign a declaration acknowledging investment risks.
Up to 4 free switches between strategies per year.

Participants may cancel the Membership within 14 days of receiving the Participant’s Membership Document (PMD). In such case (subject to terms), the paid contribution is refundable.

• Acquisition Fee

  • Year 1: 45% of Regular Contribution

  • Year 2: 30% of Regular Contribution

  • Year 3 Onwards: NIL

• Monthly Membership Administration Fee:
  Payable at the beginning of each month based on the size of annualized Regular Contribution (as per illustration).

• Investment Management Charge:
  1.50% per annum of Net Asset Value (NAV), deducted at every pricing.

• Bid-Offer Spread: 5%

• Stamp Duty:
  PKR 1.2 per thousand of the Face Value as per Stamp Act 1899 (Sindh Province).

• Fund Switching Fee:
  After 4 switches in any year, the Operator reserves the right to charge up to PKR 1,000 per switch.

• Statement Fee: PKR 500 for additional statements.

• Wakala Fee:
  20% of Takaful donations, deducted monthly for expenses.

To apply for this plan, please submit the following documents to your nearest branch:

• Attested CNIC copy

• Completed proposal form with signature

• Signed auto debit instructions

• Signed basic fact sheet

• Signed product introduction document

• Signed assessment form

• Signed sample illustration

Q. What is Takaful?

Takaful means ‘guaranteeing each other’ and follows Islamic Law (Shari’ah). As a Takaful plan Participant, you may be eligible for a share of any declared surplus. Surplus distribution is in accordance with the Company’s surplus policy approved by its Shari’ah Supervisory Board.

Q. What is Surplus Sharing?

Surplus sharing differentiates Takaful from conventional insurance. Any excess in the fund is distributed to Participants in proportion to their contributions.

Q. How does the Plan work?

You contribute monthly, quarterly, semi-annually, or annually, and payments are deducted automatically from your account.

Q. What are the contribution limits?

• Minimum: Rs. 30,000 annually

• No maximum limit

Q. Who to contact for queries?

• Email: [email protected]

• Helpline: +92-21-34311747-56

• Or visit your bank branch.

Q. How are claims processed?

Contact Pak-Qatar Family Takaful Limited at (021)-34311747-56 or email at [email protected].

Q. Can I access my savings?

Yes, partial withdrawals are allowed if you have a positive cash value. However, this may reduce the maturity value.

Sample Illustration

• Age: 30

• Term: 20 years

• Annual Contribution: PKR 150,000

• Takaful Death Cover: PKR 3,000,000

• Death during Hajj: PKR 3,000,000 additional benefit

• Terminal Illness Benefit: Accelerated equal amount

PAK-QATAR FAMILY TAKAFUL HEAD OFFICE
101-105, Business Arcade, Plot #27A, Block 6, P.E.C.H.S, Sharea Faisal, Karachi-75400
(0092) 21 34311747-56

• Figures are based on assumptions and investment returns of 9%, 11%, and 13% p.a.

• This is a family takaful product combining protection and investment.

• Investment performance is not guaranteed.

• Actual values may vary.

• The Participant bears the investment risk.

• Product is underwritten by Pak-Qatar Family Takaful Ltd.

• Not a product of Allied Bank Ltd. ABL acts as an agent only.

• For further details, contact the Takaful company directly.