Products

Unit link Parvaaz Savings & Health Plan, provides you a unique combination of health coverage with Savings, in addition to life cover benefits. Also with injury and sickness comes not only with physical pain but also with considerable financial burden. Medicines can cure diseases, doctors can give advice, but Adamjee Life’s Parvaaz Savings and Health Plan through its Hospital Cashback Benefit ensures to help put a sizeable dent in those medical expenses occurred in case of injury or sickness.

Policy Terms & Eligibility

The plan is available to all Habib Metropolitan Bank Limited customers between 18 to 59 years of age.

Basic Plan Premium

The mode wise minimum premium is as given in the table below: Payment Mode Min Basic Premium

There is no maximum limit for the contribution.

Adhoc

With a minimum payment of Rs. 10,000, Adamjee Life Parvaaz Savings and Health Plan enables customers to boost their investments. These payments are 103% allocated to account value resulting in the required fund growth. You can also choose to adjust regular premiums from top-up cash value subject to sufficient units being available in the top-up account value. Please note that there is no fixed frequency of Adhoc – premium payment and it has no link with the sum assured.

Unit Allocation

Basic Premiums are allocated as per the schedule shown below.

Note: For a better understanding in making your selection according to your savings and insurance needs, you may contact representatives at your nearest Habib Metropolitan Bank Limited branch.

Funds

Adamjee Life uses forward unit pricing methodology.

Our low risk funds include:

Investment Secure Fund (Income Fund)

Low risk fund with aim to offer regular and steady returns from investment in wide variety of fixed income securities including bank deposits, government Securities etc. without any exposure to corporate bonds and equities.

Our moderate to high risk funds include:

Investment Multiplier (Aggressive Fund)

High risk fund with aim to earn higher returns in medium to long term by investing in diversified mix of equities, fixed income instruments and rea estate.

Managed Growth Fund (Balanced Fund)

Medium risk fund with aim to provide growth in investment value by investing in fixed income instruments, equities and real estate.

Amaanat Fund (Balanced Fund)

Medium Risk fund with aim to provide growth in investment value by investing in shariah compliant debt instruments , equities and real estate

Death Benefits

On death benefits payable equal to the greater of:

• Sum assured or The cash value of units.

Product Charges

Application charges are as follows:

Surrender

Policyholder has the option to surrender the policy after paying two annualized premiums after completion of two policy years (24 months) and before the completion of policy term, customer also have the facility of partial withdrawals that may be exercised by leaving a minimum balance (residual value) in the cash value.

Compulsory Rider

Hospital Cashback Benefit

On admission in a registered hospital in Pakistan due to accident or sickness, daily cash benefit will be paid for each 24-hour period of hospital confinement, up toa maximum of 120 days during a membership year. In case of admission in Intensive Care Unit (ICU), the daily cash benefit payable will be doubled. Each day in ICU will be counted as two hospitalization days. Per confinement benefit is limited to maximum consecutive 30 days of hospitalization.

Optional Rider

Level Term Insurance Rider

On the death of the insured person during the in-force term of the rider, the rider sum assured is payable in addition to the basic sum assured.

Monthly Income Benefit Rider

On the death or permanent and total disability of the insured person during the in-force term of the rider, a fixed monthly amount is payable for the remaining term of the rider.

Waiver of Premium Rider- Disability (WOP-Disability)

On permanent and total disability of the insured person, Adamjee Life will pay the initial (un-escalated) basic premium for the remaining term of the rider.

Accidental Death & Disability Rider

On accidental death or permanent and total disability due to accident of the insured person during the in-force term of the rider, the rider sum assured is payable. In case of permanent total/partial disability, the sum assured is payable according to the Schedule stated in the Provisions.

Spouse’s Protection Rider

On death of the insured person’s spouse during the in-force term of the rider, the rider sum assured is payable.

Critical Illness

On occurrence of listed disease during the in-force term of the rider, the rider sum assured is payable to the insured person.

Disclaimer

This product is underwritten by Adamjee Life Assurance Co. Ltd. It is not guaranteed or insured by “Bank” or its affiliates and it is not a product of the Bank.

Unit link Parvaaz Education and Marriage Plan, Adamjee Life with an aim to add value to society came up with a unique insurance product that in addition to the life cover benefit also offers facilities that can be availed by an individual for their children’s education and marriage.

Policy Terms & Eligibility

The plan is available to all Habib Metropolitan Bank Limited customers between 18 to 60 years of age.

Basic Plan Premium

The mode wise minimum premium is as given in the table below:

Payment Mode Min Basic Premium

There is no maximum limit for the premium.

Adhoc

Adamjee Life Parvaaz Education & Marriage Plan enables customers to boost their investments. These payments are 103% allocated to account value resulting in the required fund growth. You can also choose to adjust regular premiums from top-up cash value subject to sufficient units being available in the top-up account value. Please note that there is no fixed frequency of ad hoc –premium payment and it has no link with the sum assured.

Unit Allocation

Basic Premiums are allocated as per the schedule shown below.

Note: For a better understanding in making your selection according to your savings and insurance needs, you may contact representatives at your nearest Habib Metropolitan Bank Limited branch.

Funds

Adamjee Life uses forward unit pricing methodology.

Our low risk funds include:

Investment Secure Fund (Income Fund)

Low risk fund with aim to offer regular and steady returns from investment in wide variety of fixed income securities including bank deposits, government Securities etc. without any exposure to corporate bonds and equities.

Our moderate to high risk funds include:

Investment Multiplier (Aggressive Fund)

High risk fund with aim to earn higher returns in medium to long term by investing in diversified mix of equities, fixed income instruments and rea estate.

Managed Growth Fund (Balanced Fund)

Medium risk fund with aim to provide growth in investment value by investing in fixed income instruments, equities and real estate.

Amaanat Fund (Balanced Fund)

Medium Risk fund with aim to provide growth in investment value by investing in shariah compliant debt instruments , equities and real estate.

Death Benefits

On death benefits payable equal to the greater of:

• Sum assured or The cash value of units

Product Charges

Application charges are as follows:

Surrender

Policyholder has the option to surrender the policy after paying two annualized premiums after completion of two policy years (24 months) and before the completion of policy term, customer also have the facility of partial withdrawals that may be exercised by leaving a minimum balance (residual value) in the cash value.

Compulsory Benefit

Waiver of Premium – Death Benefit

It offers an inbuilt Waiver of Premium – Death Benefit, according to which on the demise of the insured person, Adamjee Life will pay the lower of initial (un-escalated) basic premium or the last basic premium paid by the policyholder for the remaining premium paying term of the policy. This plan can be opted by parents to achieve expected amount at maturity which can be used to pay for higher education or marriage of their children.

Optional Rider

Level Term Insurance Rider

On the death of the insured person during the in-force term of the rider, the rider sum assured is payable in addition to the basic sum assured.

Monthly Income Benefit Rider

On the death or permanent and total disability of the insured person during the in-force term of the rider, a fixed monthly amount is payable for the remaining term of the rider.

Waiver of Premium Rider- Disability (WOP-Disability)

On permanent and total disability of the insured person, Adamjee Life will pay the initial (un-escalated) basic premium for the remaining term of the rider.

Accidental Death & Disability Rider

On accidental death or permanent and total disability due to accident of the insured person during the in-force term of the rider, the rider sum assured is payable. In case of permanent total/partial disability, the sum assured is payable according to the Schedule stated in the Provisions.

Spouse’s Protection Rider

On death of the insured person’s spouse during the in-force term of the rider, the rider sum assured is payable.

Critical Illness

On occurrence of listed disease during the in-force term of the rider, the rider sum assured is payable to the insured person.

Disclaimer

This product is underwritten by Adamjee Life Assurance Co. Ltd. It is not guaranteed or insured by “Bank” or its affiliates and it is not a product of the Bank.

Brochure

Unit link Adamjee Life – Window Takaful Operations, with an aim to add value to society, came up with a unique Family Takaful product that in addition to the takaful coverage from Waqf, offers opportunities for saving and investment in a Shariah Compliant way, so that the financial needs in future like education and marriage can be seamlessly fulfilled.

Membership Terms & Eligibility

The plan is available to all Habib Metropolitan Bank Limited customers between 18 to 70 years of age.

Basic Plan Contribution

The mode wise minimum contribution is as given in the table below:

Payment Mode Min Basic Contribution

There is no maximum limit for the contribution.

Adhoc

By depositing a minimum payment of Rs. 10,000/- (over and above your regular contribution) you can enhance the growth of your invested capital through Top up. Top Up payment which has no upper limit will be allocated at 103% in the unit account and can be made & withdrawn anytime during the certificate term to boost your accumulated cash value.

Unit Allocation

Basic Contributions are allocated as per the schedule shown below.

Note: For a better understanding in making your selection according to your savings and insurance needs, you may contact representatives at your nearest Habib Metropolitan Bank Limited branch.

Funds

Membership holder has no option to select a unit fund based on his risk preferences and investment objective at the membership inception. The funds available are:

Our low risk funds include:

Taameen Fund (Income Fund):

Low risk fund with aim to offer regular and steady returns from investment in wide variety of shariah compliant debt securities including bank deposits, government securities etc. without any exposure to corporate bonds and equities.

Our medium to high risk funds include:

Saman Fund (Balanced Fund):

Medium risk fund with aim to provide growth in investment value by investing in shariah compliant debt-instruments, equities and real estate.

Maza’af Fund (Aggressive Fund):

High risk fund with aim to earn higher returns in medium to long term by investing in diversified mix of shariah compliant equities, debt instruments and real estate.

Free built-in Pilgrimage Coverage*

PKR 2 Million Coverage on Accidental Death during Hajj. *Coverage will be terminate when person covered reached Age 65.

Death Benefits

On death benefits payable equal to the greater of:

• Sum assured or The cash value of units.

Product Charges

Application charges are as follows:

Surrender

Membership holder has the option to surrender his membership before the completion of membership term, customer will receive current cash value of underlying units in the membership (after deduction of all applicable charges) which may be less than the total contribution paid.

Compulsory Rider

Built-in Supplementary Benefit

Waiver of Contribution – Death Benefit

Offers in-built Waiver of Contribution – Death benefit, according to which, on Death of the insured person, Adamjee Life – WTO Waqf will pay the lower of initial (un-escalated) basic contribution or the last basic contribution paid by the participant for the remaining contribution paying term of the certificate. This certificate can be opted by parents to achieve expected amount at maturity which can be used to pay for higher education or marriage of their children.

Optional Rider

You can enhance the Protection Benefit by selecting any or all of the following optional Supplementary Benefits subject to payment of additional contribution.

Spouse Protection Supplementary Benefit

In the unfortunate event of the death of the covered person’s spouse during the enforce term of this Supplementary Benefit, the Supplementary Benefit’s sum covered is payable.

Level Term Supplementary Benefit

The feature guarantees as lump sum amount payable to the chosen beneficiary in case of death of the person covered.

Critical Illness Supplementary Benefit

A lump sum benefit is paid to you in case you are diagnosed with one of the listed 20t diseases during the enforce term of this Supplementary Benefit. The lump sum benefits additional to your main certificate benefit.

Accidental Death & Disability

A lump sum benefit is paid to you or your chosen beneficiary in case of accidental death & disability

Waiver of Contribution Supplementary Benefit (WOC-Disability)

On total permanent disability of the person covered, AL – WTO will pay the initial (un-escalated) basic contribution for the remaining term of the supplementary benefit or earlier recovery or death.

Monthly Income Benefit

On the death or permanent and total disability of the person covered due to accident or sickness during the in-force term of this supplementary benefit, AL – WTO shall pay a monthly income benefit for the remaining term of this Supplementary Benefit or earlier recovery or death.

Disclaimer

This product is underwritten by Adamjee Life Assurance Co. Ltd.-WTO It is not guaranteed or insured by “Bank” or its affiliates and it is not a product of the Bank.

Brochure

Adamjee Life’s – (Window Takaful Operations) Adamjee Life WTO Parvaaz Takaful Savings Plan is a flexible unit link Investment Family Takaful Plan which provides both protection and savings. It ensures that your savings are invested in fully Shariah Compliant investment funds according to your risk appetite.

Membership Terms & Eligibility

The plan is available to all Habib Metropolitan Bank Limited customers between 18 to 70 years of age.

Basic Plan Contribution

The mode wise minimum contribution is as given in the table below:

Payment Mode Min Basic Contribution.

There is no maximum limit for the contribution.

Adhoc

By depositing a minimum payment of Rs. 10,000/- (over and above your regular contribution) you can enhance the growth of your PIA through top -up. Top-up payment which has no upper limit will be allocated at 103% in the PIA and can be made and withdrawn anytime during the certificate term to boost your accumulated cash value.

Unit Allocation

Basic Contributions are allocated as per the schedule shown below.

Note: For a better understanding in making your selection according to your needs, you may visit at your nearest Habib Metropolitan Bank Limited branch.

Funds

The funds available are:

Our low risk funds include:

Taameen Fund (Income Fund):

Low risk fund with aim to offer regular and steady returns from investment in wide variety of shariah compliant debt securities including bank deposits, government securities etc. without any exposure to corporate bonds and equities.

Our moderate to high risk funds include:

Saman Fund (Balanced Fund):

Medium risk fund with aim to provide growth in investment value by investing in shariah compliant debt-instruments, equities and real estate.

Maza’af Fund (Aggressive Fund):

High risk fund with aim to earn higher returns in medium to long term by investing in diversified mix of shariah compliant equities, debt instruments and real estate.

Free built-in Pilgrimage Coverage*

PKR 2 Million Coverage on Accidental Death during Hajj.*Coverage will be terminate when person covered reached Age 65.

Death Benefits

On death benefits payable equal to the greater of:

• Sum assured
• The cash value of units.

Product Charges

Application charges are as follows:

Surrender

Membership holder has the option to surrender my membership before the completion of membership term, I will receive my current cash value of underlying units in the membership (after deduction of all applicable charges) which may be less than the total contribution paid.

Compulsory Rider

Spouse Protection Supplementary Benefit

In the unfortunate event of the death of the covered person’s spouse during the enforce term of this Supplementary Benefit, the Supplementary Benefits’ sum covered is payable.

Level Term Supplementary Benefit

The feature guarantees as lump sum amount payable to the chosen beneficiary in case of death of the person covered.

Critical Illness Family Takaful Supplementary Benefit

On occurrence of one of the listed diseases during the in-force term of this supplementary benefit, the supplementary benefit’s sum covered is payable to the person covered.

Accidental Death & Disability Supplementary Benefit

On accidental death or permanent and total disability due to accident of the person covered during the in force term of this supplementary benefit, the supplementary benefit’s sum covered is payable. In case of permanent total/par􀆟al disability, the
sum covered is payable according to the Schedule stated in the Provisions.

Waiver of Contribution Supplementary Benefit (WOC-Disability)

On permanent and total disability of the person covered, Adamjee Life WTO Waqf will pay the initial (un-escalated) basic contribution for the remaining term of the supplementary benefit or earlier recovery or death on behalf of participant.

Waiver of Contribution Supplementary Benefit (WOC-Death)

On the death of the person covered, AL – WTO Waqf will pay the initial (un-escalated) basic contribution for the remaining term of the Supplementary Benefit. The Beneficiary will receive the maturity benefit at the end of the certificate term.

Monthly Income Family Takaful Supplementary Benefit

On death or permanent and total disability due to accident or sickness of the person covered during the in-force term of this supplementary benefit, a fixed monthly amount is payable for the remaining term of the supplementary benefit or earlier
recovery (in case of disability)

Level Term Family Takaful Supplementary Benefit

On death of the person covered during the in-force term of this supplementary benefit, the supplementary benefit’s sum covered is payable.

Disclaimer

This product is underwritten by Adamjee Life Assurance Co. Ltd. -WTO It is not guaranteed or insured by “Bank” or its affiliates and it is not a product of the Bank.

Brochure