Asaan Zindagi is a unit-linked plan that offers you market-linked returns with minimal charges, helping you achieve your retirement goals through early planning. Investments made through regular premiums, along with lump sum payments, allow your money to grow during your working years. At retirement, part or all of your savings can be used to generate regular retirement income.
Additionally, you are covered in case of death, and your family will receive the sum assured selected by you, ensuring that your aspirations for them are fulfilled.
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Automatic Cover Maintenance
After you have paid premiums for two full years, even if you are unable to continue payments, your life insurance cover will remain in force as long as your plan’s cash value is sufficient to cover the deducted charges. -
Top-up Premium (Ad-hoc Premium)
In any given year, you may choose to invest an additional amount in your plan. The Asaan Zindagi Plan allows you to add it on top of your existing premium, helping you boost your cash value.
You are eligible for the Asaan Zindagi Plan if you are aged between 18 and 65 years. The available term range is 10 to 57 years, subject to a maximum maturity age of 75 years.
You may contact Jubilee Life’s representatives at designated Allied Bank branches to help structure the most appropriate plan for your needs. Branch details are available at www.abl.com.
Death Benefit
This plan enables you to select your preferred level of protection. The sum assured can range from 5 to 254 times your annual basic premium, depending on underwriting results. If the life assured passes away during the policy term, the nominee will receive either the selected sum assured or the accumulated cash value, whichever is higher.
You can calculate your sum assured by multiplying your annualized basic premium with the selected cover multiple. For example:
Rs. 100,000 × 10 = Rs. 1,000,000
Terms and Conditions apply.
Maturity Benefit
Upon survival till the end of the selected term, you will receive the accumulated cash value of your fund as a lump sum. If your age at maturity is 55 years or above, you may also opt to use this value to purchase a pension, designed for those who prefer steady income over a one-time payout.
Asaan Zindagi offers flexibility by allowing you to select supplementary riders, including:
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Accidental Death Benefit
Provides an additional payout in case of death caused by an accident. -
Accidental Death and Dismemberment
Pays an additional amount in case of accidental death or dismemberment. -
Permanent Total Disability (PTD)
Pays the basic sum assured if the insured suffers permanent and total disability due to accident or illness, preventing them from pursuing any reasonable occupation. -
Critical Illness Benefit
Pays the death benefit early if the policyholder is diagnosed with one of the eighteen specified critical illnesses. -
Waiver of Premium
If the policyholder becomes disabled and is unable to work, Jubilee Life will pay the future premiums to keep the policy active. -
Family Income Benefit
In case of the policyholder’s death, this benefit provides regular income to the family for a fixed period to cover daily expenses. -
Hospitalization Cash Rider
Offers daily cash benefit for each day of hospitalization. If hospitalization is due to a critical illness, the benefit is multiplied. In case of ICU admission, an extra 50% of the daily benefit is paid.
In addition to reduced allocation in the early years, the following charges apply:
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Investment Management Charge: 1.5% p.a. of fund value (deducted at fund valuation)
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Administration Fee: Rs. 90 per month
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Bid-Offer Spread: 5%
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Mortality Charges: As per age and cover amount
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Rider Charges: Based on selected riders
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Fund Switching Fee: Rs. 500 (after 4 free switches per year)
All charges are subject to periodic review by the company.
A breakdown of the minimum premium that you need to contribute in order to avail the Asaan Zindagi Plan is mentioned below:
| Frequency | Minimum Amount |
|---|---|
| Yearly | Rs. 30,000 |
| Half-Yearly | Rs. 15,000 |
| Quarterly | Rs. 7,500 |
| Monthly | Rs. 2,500 |
Your contribution made towards the Asaan Zindagi Plan is allocated to the unit account as per the table below:
| 1st Year | 2nd Year | 3rd Year | 4th Year | 5th Year & Onwards | Ad-hoc |
|---|---|---|---|---|---|
| 30% | 85% | 90% | 100% | 103% | 100% |
If you need to withdraw cash value to meet emergency needs but do not want to surrender the policy, you can withdraw any amount (subject to the minimum withdrawal amount prescribed by Jubilee Life Insurance) provided that the residual cash value in your unit account is not less than the minimum amount specified by the company.
Despite partial withdrawals, you will continue to receive insurance coverage, although your sum assured will be reduced by the withdrawn amount.
The option for partial withdrawal is available after completion of two policy years and after payment of two annual premiums.
You have the option to surrender your policy any time after completion of two policy years and payment of two annual premiums. At the time of surrender, you will be paid in full the cash value of your fund.
However, surrendering in the early policy years may result in a lower cash value.
Your allocated premiums will be invested in the fund(s) of your choice to suit your investment needs. These funds are managed by expert investment managers and backed by premium securities:
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Managed Fund
Provides balanced returns by investing in a diverse portfolio of government and fixed income securities, shares, and cash deposits. -
Yaqeen Growth Fund
Designed to provide steady returns with minimal risk of capital erosion. Ideal for clients who prefer reasonable returns from a portfolio of highly liquid investments with minimal exposure to market fluctuations. -
Meesaq Fund
A Shariah-compliant fund providing interest-free returns. Invests in selected stocks, sukuk bonds, short-term Islamic bank deposits, Islamic mutual funds, and other interest-free instruments. -
Capital Growth Fund
Focuses on capital growth through investments aimed at high returns, including shares, term finance certificates, and bank deposits.
Q. Will the funds be professionally managed?
Yes, your premiums will be invested into funds managed by expert investment professionals to ensure optimized returns.
Q. Where can I get information about Jubilee Life’s fund unit prices?
Unit prices of Jubilee Life’s funds are published in all leading newspapers and on the website: www.jubileelife.com
Q. Does this plan help me combat inflation?
Yes. To combat inflation, you have the option to select indexation in your policy. Selecting this option will automatically increase your premium each year by a limit specified by the company.
You retain the right to cancel the indexation at any time.
Q. Does Asaan Zindagi allow me to withdraw my investments?
Yes. Under the Asaan Zindagi Plan, you can withdraw the cash value of your fund (either fully or partially) provided you have paid premiums in full for two years.
Q. What are the risks associated with investment in the unit of Asaan Zindagi?
- Depending on market conditions and fund performance, the value of the unit may rise, fall, or remain unchanged.
- The past performance of funds is not necessarily indicative of future performance.
In case of complaints or for further details, please contact:
Jubilee Life Insurance Company Limited
Head Office: 74/1-A, Lalazar, M.T. Khan Road, Karachi-74000, Pakistan
Tel: (021) 35205094-95
Fax: (021) 35610959
Email: [email protected], [email protected]
SMS: “JUBILEELIFE” to 8398 or 042-111-225-225
Website: www.jubileelife.com
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This product is underwritten by Jubilee Life. It is not guaranteed or insured by Allied Bank Limited or its affiliates and is not a product of Allied Bank Limited.
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Allied Bank acts only as a distributor on behalf of Jubilee Life Insurance and shall not be held responsible in any manner to any person, including but not limited to the insured customer(s), beneficiary(ies), or any third party.
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The past performance of Jubilee Life’s funds is not necessarily a guide to future performance. Any forecasts made are not indicative of future or likely performance, and neither Jubilee Life nor Allied Bank Limited will incur any liability for the same.
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A personalized illustration of benefits will be provided by a sales representative. Please refer to the illustration for detailed understanding of all terms and conditions.
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Please consult the Policy Document for a complete understanding of the terms.
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Supplementary benefits may be available only if the life covered is aged 55 years or less at the nearest birthday at the time of issuance.
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Jubilee Life is the underwriter and provider of this policy and is responsible for settlement of claims to the insured customer(s) or beneficiaries.
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The investment risk lies with the policyholder, and actual maturity or surrender values may be higher or lower than projected.
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For details on the fund’s target asset mix, visit: Investor Outlook.