ILM & Anmol Rishtey

An opportunity to fulfill your promise to your child

Being a loving parent, you search for a plan that is designed to assist you to accumulate lump sum amount with certainty and allows you to have access when you are in need of cash. A plan that understands your dream for best education for a child or his/her marriage without any financial constraint.

EFU Life Assurance brings for you Ilm and Anmol Rishtey Plan with guaranteed level of insurance protection and flexible options to customize the benefits according to your needs. This plan will help you to meet child’s wedding expense or finacing his/her education expenses with ease. The plan also has continuation benefit feature which provides a surety that plan’s premium is paid for in case of an unfortunate event of policyholder’s death while the policy is enforced.

With Ilm and Anmol Rishtey Plan:

  • Attractive Features of the Plan

    Opportunity for Growth and Savings:

    Every premium paid towards the plan will be invested in one of the internal investment funds of EFU Life.

    It is completely your decision to choose the internal fund based on your investment objectives. These Funds are managed by investment experts, who adjust the mix based on underlying economic conditions and better investment opportunities.

    You can select from the following unit funds mentioned below at the inception of the policy:

    • EFU Managed Growth Fund – An investment fund with a balanced investment strategy. It aims to achieve reasonable capital growth and steady returns with investment in government securities, carefully selected blue chip equities and other fixed income instruments and cash.
    • EFU Guaranteed Growth Fund – An investment fund providing steady returns with a guarantee that the bid price of the fund will never fall. It aims to achieve stable growth through investment in short term debt securities.
    • EFU Aitemad Growth Fund – An investment fund with the specific aim of investing in interest-free securities. It aims to maximize capital growth by investing across a wide range of investments such as Islamic Mutual Funds, Shariah approved equities, term deposits in Islamic Banks & Sukuk Bonds.

    Unit Allocation Percentage

    The proportion of premium for investment in units varies by policy year and is as follows:

    Policy Year Unit Allocation %
    1 40%
    2 80%
    3 & 4 100%
    5 – 10 103%
    11 – 20 105%
    21 onwards 110%

    Fund Acceleration Premium (FAP)

    If you have surplus cash available at any point of time during the plan term, it can be invested in the plan to enhance your cash values. These additional payments in the plan are called Fund Acceleration Premium payments. You can make these payments at any time while the policy is in force. The minimum FAP payment is Rs. 24,000.

    100% of FAP payments are allocated to purchase units in the selected fund.

    Access to your Savings:

    The plan provides complete access to accumulated fund value during the policy term. Total units accumulated can be withdrawn after the second year’s regular premium payment. A facility for partial withdrawals is also available subject to Rs.20,000 remaining in the fund.

    Please note that in case of surrender in early policy years may result in low cash values.

  • Benefits under This Plan

    Death Benefit:

    In the unfortunate event of death of the policy holder, this plan provides Continuation benefit by which you can secure your family’s future from the financial losses even in your absence.

    On death of life assured prior to the maturity of plan, the plan ensures that your child’s future remains secure by its Continuation Benefit. This is built into the plan and ensures that all remaining future premiums are paid by EFU Life following the death of the life assured until the Plan’s maturity date. This means that the funds you had originally planned for your child’s education or marriage will still be available for your children.

    Maturity Benefit:

    At the end of the Policy Term, while the policyholder is still alive, the maturity benefit payable will be the Cash Value applicable to the regular plan premium plus Cash Value applicable to FAP payment, if any.

    Maturity Bonus

    For continuously enforced policies, the plan provides valuable maturity bonuses at the end of the plan’s term to boost the fund accumulation. The bonus is allocated, as a percentage of the average Basic Plan premium paid till maturity year. The extra unit will be allocated at maturity depending on the maturity year, as mentioned in the table

    The extra unit allocation is as follows:

    Year Unit Allocation % as average annual premium paid till maturity
    11-15 10%
    16-20 20%
    21-25 50%

    Indexation Benefit:

    Under this option, the regular premium will increase every year by 5% with appropriate increase in benefits, without any medical evidence

  • Riders Available under this plan

  • FAQs

    Can I apply and what are the term limits of plan?

    This plan is available for all individuals aged between 18 and 65 years on next birthday. The coverage term is 10 to 25 years and maturity is subject to a maximum age of 75 years.

    What is the minimum/maximum Premium I have to pay?

    Minimum annual basic plan premium is Rs. 24,000/- per annum. The mode-wise minimum premium is as follows:

     

    Mode Minimum Modal Premium
    Annual 24,000
    Half Yearly 12,000
    Quarterly 6,000
    Monthly 2,000

     

    There is no maximum limit of the premium

    Charges

    Administration charge: Rs. 60 per month

    Bid/Offer Spread: 5% of the net Regular Premium

    Investment management Charge: 0.125% of the fund value per month.

  • Disclaimer:

    • This product is underwritten by EFU Life Assurance Ltd. It is not guaranteed or insured by Allied Bank or its affiliates and is not Allied Bank product.
    • Allied Bank is just a promoter and distributor of this product to its valued customers.
    • Growth in the value of your premiums will depend on the performance of the selected Fund in which the premiums are invested.
    • All investments made in the selected Fund are subject to market risks. The investment risk of the selected fund will be borne by the policy holder.
    • The past performance of the fund is not necessarily a guide to future performance. Any forecast made is not necessarily indicative of future or likely performance of the Fund and neither EFU Life Assurance Ltd. nor Allied Bank will incur any liability for the same.
    • A personalized illustration of benefits will be provided to you by our sales representative. Please refer to the notes in the illustration for detailed understanding of the various Terms and Conditions.
    • Taxes will be applicable as per the taxation laws as stipulated by the relevant authorities.
    • A description of how the contract works is given in the policy provisions and conditions. This product brochure only gives a general outline of the product features and benefits.