Your Child Education Assured

Your Child’s Future is Precious

Be it an aspiring lawyer, a caring doctor or a skilled engineer – whatever your child aspires to become tomorrow, we make sure it comes true. ILM (Child Education Plan) ensures your promise of better education gets fulfilled no matter what the future holds for you

Allied Bank, with EFU Life Assurance Ltd, introduces “IL’M”, a savings plan that helps you meet your child’s future education expenses.


  • Education Bonus
  • Freedom to customize
  • 14 Day Free-Look Period
  • Fund Acceleration Premium (FAP)

Built-in Benefits

  • Accidental Death and Disability Benefit upto Rs. 5,000,000
  • Continuation Benefit
  • Regular Education Fund Benefit


Education costs that are already exorbitant will further soar because of uncontrollable inflation. Saving adequately and then prudentially investing those savings will give you the financial ability to fulfill the promise of a better education to your children, even if you are not around to see it.

When Should You Start?

The earlier you start saving the better your child’s future will be. So build a steady saving from as low as Rs.6,000 per annum with ILM After all, you work hard to earn your money; it’s only fair that your money should work hard for you in return.

Milestones to Look-out for

  • School Fees: Rs. 70,000-Rs. 100,000 per year
  • University Education: Rs. 300,000-Rs. 500,000

These are approximate costs for good local schools and universities. These costs are substantially high right now and will be even higher by the time your child reaches these milestones.

Product Features and Benefits

  • Low Minimum Premium

    I’LM gives you the opportunity to start saving for your child with as low asRs. 6000 per annum, which is less than Rs. 20 a day.

  • Built-in Accidental Death and Disability Cover

    The plan provides immediate funds in case the assured parent dies due to an accidental cause or suffers permanent disability. The amount of payout is equal to 10 times the basic annual premium with a maximum payout limited to Rs. 5 million.

  • Regular Education Fund Benefit

    Withdrawals linked to key education related events can be made. They are allowed after completion of 5 policy years and a maximum 10% of the fund value at each time can be withdrawn.

  • Education Bonus

    The plan provides valuable education bonuses during the plan term to boost the fund accumulation. Starting from the 11th policy year, a bonus is allocated as a percentage of the average Basic Plan contribution paid.

    The extra unit allocation, in addition to the basic plan contribution, is as follows:

    Applicable in Policy Year Extra Unit Allocation
    11 25%
    16 40%
    21 60%

  • Fund Withdrawal Option

    At maturity, the plan provides the accumulated fund value, which can either be taken in a lump sum or in 2, 3 or 4 equal annual installments.

  • Continuation Benefit

    In the unfortunate event of death of the assured parent during the savings term, EFU Life continues to make the contributions towards the plan so that the future planning of the child is not affected and the targeted funds are available when needed.

  • Optional Benefits

    • Income Benefit
    • Waiver of Premium

  • Illustration

    Plan with a 25 year term: For a 35 year old male, an annual premium of Rs. 15,000 and a built-in Accidental Death and Disability benefit (providing sum assured of Rs. 147,400), the expected cash values would be as follows:

    Policy Year Return On Investment
    @ 6% p.a.unit growth rate @ 8% p.a.unit growth rate @ 10% p.a.unit growth rate
    1 3,485* 3,550* 3,616*
    2 14,581 14,927 15,276
    3 29,290 30,216 31,159
    4 44,858 46,705 48,607
    5 61,336 64,488 67,775
    10 159,437 176,784 196,103
    15 294,524 345,996 407,431
    20 477,484 597,038 750,438
    25 728,356 972,393 1,309,840

    The policy cannot be surrendered until two full years premiums have been paid.
    A portion of premium is invested in earlier years.

    If the policyholder chooses the optional rider i.e. Income benefit, for an annual premium of Rs.945, a regular quarterly income of Rs. 3,750 will be given to the family to meet the recurring child expenses in case of death of the parent during the plan term.

  • Accessibility

    In case higher funds are needed, the client has the flexibility to fully or partially withdraw the accumulated fund value anytime after two full years premiums have been paid.

  • Unit Accumulation and Investment Fund

    Every contribution paid towards the plan is invested in an internal investment fund of EFU Life called the “EFU Managed Growth Fund”. The objective of the Fund is to maximize capital growth by investing in a balanced portfolio spread across a wide range of shares, government and other fixed interest securities and cash.

  • Fund Acceleration Premium (FAP)

    You can make an additional lump sum contribution to the plan besides your regular Premium, to enhance its cash value, at any time during the policy term.

  • Applicable Ages and Terms

    The plan is available to individuals of 18 years to 60 years of age. The minimum savings term available is 10 years while the maximum is 25 years. The savings term has to be selected in such a way that the maximum age of the customer at the end of the savings term is not more than 70 years.

  • Disclaimer

    • This product is underwritten by EFU Life. It is not guaranteed or insured by Allied Bank or its affiliates and is not an Allied Bank product.
    • EFU Life is registered and supervised by Securities and Exchange Commission of Pakistan.
    • The contributions in the plan are invested in EFU Managed Growth Fund.
    • The cash values have been worked out at assumed growth rates of 6%, 8% and 10% per annum.
    • Depending upon the performance of the underlying investments in the EFU Managed Growth Fund, the actual values may be higher or lower than the ones shown in the table.
    • The past performance of EFU Managed Growth Fund is not necessarily a guide to future performance. Any forecast made is not necessarily indicative of future or likely performance of the funds and neither EFU Life 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 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 and the figures used above are indicative and for illustration purposes only.

  • Contact Information

    EFU Life Assurance Ltd
    Main Office: 37-K, Block 6, PECHS Karachi-75400, Pakistan

    Tel: (021) 111-EFU-111
    Fax: (021) 4535079
    Toll Free: 0800-33800


    Allied Bank Limited
    Bancassurance – Liabilities & Product Development, (CBG)
    ABL Head Office, 2nd Floor, Kalma Tower, New Garden Town, Lahore

    Contact No: 042-35880043 – Ext 32102