Jubilee Smart Life Education Plan

SMART LIFE
EDUCATION PLAN
As your children start taking tiny steps, the path to their
bright future lies in the steps you take now to provide them
with the best education in future. Askari Bank in
collaboration with Jubilee Life Insurance presents Smart
Life - Education Plan, which would help you save on a
regular basis so that you may have financial security and
realize the dream that you have for your children’s future
education.
Plan Features
• Built-in Child Education Benefit to provide funds for children’s education fees.
• Choose your own life insurance amount, which will be paid to your family or
loved ones on your death.
• Choose the investment fund according to your investment philosophy.
• Enhance protection through optional benefits.
• Top up your investments with extra funds that you may have.
Protection
This plan assures that your family has guaranteed level of life insurance protection
while you save for them. In case you die within the term of the plan, your loved ones
will receive the Sum Assured PLUS cash value. The Sum Assured can be as much as
254* times of your annual premium.
The cover multiple range starting with the minimum of 5* that is available to the
policyholder, varies with the age at entry of life assured.
* Depending on underwriting outcomes.
Built-in Child Education Benefit

With built-in Child Education Benefit, your children will have access to the education
you have always desired for them. An additional stream of regular income will be
paid in addition to other benefits, in case of your death, which can be used for
continuation of children’s education as planned.
Optional Benefits
This plan gives you the opportunity to add the following additional optional benefit
riders to your plan:
Accidental Death
To provide you extra protection against accidental death, an additional amount will be
paid under this benefit if death occurs due to an accident.
Accidental Death and Dismemberment

An additional amount will be paid under this benefit in case death and
dismemberment occurs due to an accident.
Critical Illness
The benefit payable on death is given in advance in case you are diagnosed as
having one of the specified critical illnesses.
Permanent Total Disability

The benefit payable on death is given in advance in case of permanent total disability.
Hospitalization Cash Rider

A daily benefit is paid if you are confined to a hospital. The benefit payable is doubled
in case of hospitalization due to any of the specified critical illnesses. In case of
confinement to ICU, additional benefits will be payable. Spouse and children can also
be covered under this benefit.
Waiver of Premium
In case you are unable to follow your current occupation / any other occupation (that
can be pursued with suitable knowledge, training or education) for at least 6 months
because of your illness or disability, Jubilee Life will pay your future premiums from the
next due date.
Funds Management
Jubilee Life offers you choice of following funds. You can either choose to allocate the
entire premium into one of the funds or split your premium between multiple funds that
are available.
1. Managed Fund
The objective of the fund is to maximize capital appreciation by investing in a
balanced portfolio of a wide range of shares, government and other fixed income
securities and cash deposits.
2. Yaqeen Growth Fund

The objective of the fund is to provide an opportunity to investors who prefer low risk
with reasonable returns from a portfolio of highly liquid investments with minimal
exposure to market fluctuations.
3. Meesaq Fund
The objective of the fund is to provide an opportunity to investors who want interest
free returns. The instruments in which Meesaq Fund invests are selective stocks, sukuk
bonds, short-term deposits of Islamic banks, Islamic mutual funds and fixed income
funds of Islamic banks and other valid interest-free investments.
4. Capital Growth Fund

The objective of the fund is to maximize returns to policyholders by investing in a
diverse portfolio of asset-backed investments such as shares, term finance certificates
and bank deposits.
Jubilee Life allows you four free switches every policy year. Charges would be
applicable from the fifth switch and will be deducted from the cash value / unit
account prior to the switch.
Combating Inflation
In order to combat inflation, you have an option to select indexation in your policy.
Selection of this option will increase your premium automatically each year by a
limit specified by the company.
However, you retain the right to cancel the indexation if you wish.
Ad hoc Premium Payments

You can invest extra funds available with you at any time during the term of the
policy and top up your regular investments.
Encashment Before Maturity

You can withdraw your funds (either fully or partially) after completion of two policy
years, provided you have paid premiums for two years.
•• Partial Withdrawal: If you need to withdraw cash for meeting some emer-
gency needs, but do not want to surrender the policy, you can withdraw any
amount, provided that the remaining cash value (as may be reviewed by Jubilee
Life) of your policy after withdrawal is greater than or equal to Rs. 18,000.
•• Full Policy Surrender: At time of surrender, you will be paid in full the Cash
Value of your fund. However, surrender in early policy years may result in lower
cash values.
Maturity of the Plan

At maturity of the plan, you will be entitled to the cash value of your policy.
Other Information
Unit Allocation
Your premium will be allocated towards investment as follows:
Policy Years Allocation

(as % of basic annual premium)
1 35%
2 80%
3 90%
4&5 100%
6 and onwards 103%
Ad hoc 100%
Eligibility and Term

The plan is available to all customers of Askari Bank from 18 to 65 years of age. The
minimum term of the plan is 10 years whereas the maximum term is 57 years subject
to the maximum age at maturity of 75 years.
Premium Contribution
The minimum basic plan premium is Rs. 18,000 per annum. You can pay your
premium annually, semi-annually, quarterly or monthly.
Free Look Period

Jubilee Life offers a free look period of 14 days during which you can review your
policy’s terms and conditions and cancel the policy, if you choose to. Your premium
will be refunded on receipt of written request within 14 days from the date of receipt
of policy document. Jubilee Life reserves the right to deduct the expenses incurred on
medical examination(s) of the customer in connection with the issuance of this policy.
Charges
Following charges* would apply on the plan:
Bid/Offer spread 5% of Basic Premium

Investment Management Charge 1.5% p.a of Fund Value
Administration Fee Rs.110 per month
Mortality Charge Applied on Sum At Risk on attained age basis
*All charges are reviewable by Jubilee Life and are subject to change.
Disclaimers:
This product is underwritten by Jubilee Life. It is not guaranteed or insured by Askari

Bank Limited or its affiliates and is not a Askari Bank Limited product.
Askari Bank Limited is acting as a distributor on behalf of Jubilee Life Insurance and
is not and shall not be held responsible in any manner whatsoever to any person,
including but not limited to the insured customer(s), beneficiary(ies) or any third
party.
The premiums in the plan are invested in Funds managed by Jubilee Life.
The past performance of by Jubilee Life Funds 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 Jubilee Life nor Askari Bank Limited will incur
any liability for the same.
Our sales representative will provide a personalized illustration of benefits to you.

Please refer to the notes in the illustration for detailed understanding of the various
terms and conditions.
Please refer to the Policy Documents for detailed understanding of the various terms
and conditions.
Supplementary Benefits may be available if the life covered is aged 55 years or

less nearest birthday at the time of issuance.
Jubilee Life Insurance is the underwriter and provider of this Insurance Policy and
shall be responsible for settlement of claims to the insured customer(s) or
beneficiary(ies).
The investment risk shall be borne by the Policy Holder and actual maturity or
surrender values may be lower or higher than the projected figures.
Please refer to company web site:

(http://jubileelife.com/investor-relations/investors-outlook/)
for target asset mix of the underlying fund.
Jubilee Life Insurance Company Limited
Head Office: 74/1-A, Lalazar, M.T Khan Road,
Karachi, 74000, Pakistan.
Tel: (021) 32120201, 35205094 , Fax: (021) 35610959
Email: [email protected], [email protected]
Website: www.jubileelife.com
UAN: (021)111 111 554 and SMS: *JUBILEELIFE* to 8398
Askari bank is acting as a corporate agent/distributor of JLI
Askari Bank Limited

Head Office, First Floor,
AWT Plaza, The Mall,
Rawalpindi, Pakistan
UAN: 111-000-787 Fax: (051) 9272455
Website: www.askaribank.com.pk

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SMART LIFE

• Choose the investment fund according to your investment philosophy.

• Enhance protection through optional benefits.

* Depending on underwriting outcomes.

Built-in Child Education Benefit

Accidental Death and Dismemberment

Permanent Total Disability

Hospitalization Cash Rider

2. Yaqeen Growth Fund

4. Capital Growth Fund

Ad hoc Premium Payments

Encashment Before Maturity

Maturity of the Plan

Policy Years Allocation

Eligibility and Term

Free Look Period

Bid/Offer spread 5% of Basic Premium

This product is underwritten by Jubilee Life. It is not guaranteed or insured by Askari

Our sales representative will provide a personalized illustration of benefits to you.

Supplementary Benefits may be available if the life covered is aged 55 years or

Please refer to company web site:

Askari bank is acting as a corporate agent/distributor of JLI

Askari Bank Limited

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