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Type of Plan
Jubilee Life Insurance with its distribution partner Habib Metropolitan Bank presents Jubilee Assured Savings Plan especially designed to accumulate funds on a regular basis while providing life insurance protection. The funds accumulated through the plan may be used for education and marriage of children, purchase of a house, expanding business and retirement income or any other purpose.
Policy Terms & Eligibility
The plan is available to all Habib Metro Bank Limited customers between 18 to 65years of age.
| Minimum Entry Age | Maximum Entry Age | Minimum Policy Term |
|---|---|---|
| 18 Years | 65 Years | 10 years |
Basic Plan Premium
The minimum annual basic Contribution is 24,000/. Customer can pay his/her Contribution in different mode, Annual, semi-annual, Quarterly and Monthly. *There is no maximum limit for the Contribution.
Adhoc
In case the Participant has extra funds available, the plan provides the flexibility to channel these to the Plan and provide a boost to the savings. These lump sum contributions are called Fund Acceleration Contributions (FAC) and can be paid anytime during the year where membership is active and top up the regular investment.
Unit Allocation
Basic Premiums are allocated as per the schedule shown below.
| Year | Allocation (%) |
| Year 1 | 60% |
| Year 2 | 80% |
| Year 3 | 90% |
| Year 4 to on wards | 100% |
| Ad hoc | 100% |
Policy 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:
Death Benefits
Protection
In the unfortunate case of your death, your nominated beneficiaries will receive the death benefit as much as 25*time of your annual premium or cash value of policy, whichever is higher. The cover multiple range, starting with the minimum of 5*that available to the policyholder, varies with the age at entry of life assured. *Depending on underwriting outcomes.
Product Charges
Application charges are as follows:
| Charges | Amount/Rate |
| Administration Charges | PKR 145 Per month |
| Investment Management Charge | 1.5% of the fund value P.A. |
| Bid/Offer Spread | 5% of the net regular Contribution |
| Fund Switching Charges | Rs. 500 after first four free switching in a year. |
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.
Optional Benefits
Being a flexible plan, it gives you the opportunity to select additional optional benefits.
Family Income Benefit:
To meet recurring expenses, an additional regular income
will be paid for a defined period to your family in addition to
other benefits, in case of your death.
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 or Dismemberment:
An additional amount will be paid under this benefit in case death or dismemberment occurs due to an accident.
Permanent Total Disability:
The benefit payable on death is given in advance in case of permanent total disability.
Critical Illness:
The benefit payable on death is given in advance in case you are diagnosed as having one of the specified critical illnesses.
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.
Disclaimer – HABIBMETRO Bank is just a promoter/ distributor and corporate agent of this product to its valued customers
By the time you retire, your living expenses would have increased significantly. To ensure your retirement is well planned, Jubilee Life Insurance many with its distribution partner Habib Metropolitan Bank present unit linked endowment plan Jubilee Assured Retirement Plan’ an effective means to achieve financial independence in retirement. This plan helps build substantial capital which can use in time of need. If you require, this capital is applied to provide pension payment.
The plan is available to all Habib Metro Bank Limited customers between 18 to 55 years of age.
| Minimum Entry Age | Maximum Entry Age | Minimum Policy Term |
| 18 Years | 55 Years | 10 years |
| Minimum Premium Paying Term | Max Policy Term | Max Premium Paying Term |
The minimum annual basic Contribution is 24,000/. Customer can pay his/her Contribution in different mode, Annual, semi-annual, Quarterly and Monthly. *There is no maximum limit for the Contribution.
In case the Participant has extra funds available, the plan provides the flexibility to channel these to the Plan and provide a boost to the savings. These lump sum contributions are called Fund Acceleration Contributions (FAC) and can be paid anytime during the year where membership is active and top up the regular investment.
Basic Premiums are allocated as per the schedule shown below:
| Year | Allocation (%) |
| Year 1 | 60% |
| Year 2 | 80% |
| Year 3 | 90% |
| Year 4 to on wards | 100% |
| Ad hoc | 100% |
Note: For a better understanding in making your selection according to your savings and insurance needs, you may contact representatives at your nearest Habib MetroBank Limited branch.
Policy 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:
In the unfortunate case of your death, your nominated beneficiaries will receive the death benefit as much as 25*time of your annual premium or cash value of policy, whichever is higher. The cover multiple range, starting with the minimum of 5*that available to the policyholder, varies with the age at entry of life assured. *Depending on underwriting outcomes.
Application charges are as follows:
| Charges | Amount/Rate |
| Administration Charges | PKR 145 Per month |
| Investment Management Charge | 1.5% of the fund value P.A. |
| Bid/Offer Spread | 5% of the net regular Contribution |
| Fund Switching Charges | Rs. 500 after first four free switching in a year. |
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.
Being a flexible plan, it gives you the opportunity to select additional optional benefits.
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 or Dismemberment:
An additional amount will be paid under this benefit in case death or dismemberment occurs due to an accident.
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.
Disclaimer: HABIBMETRO Bank is just a promoter/ distributor and corporate agent of this product to its valued customers
Unit link Jubilee Life Insurance with its distribution partner Habib Metropolitan Bank presents Jubilee Assured Marriage Plan – a life insurance plan which gives you dual advantage of protecting your children’s future and creating enough savings for them over the desired period of time to meet the anticipated future marriage expense.
The plan is available to all Habib Metro Bank Limited customers between 18 to 55 years of age.
| Minimum Entry Age | Maximum Entry Age | Minimum Policy Term |
| 18 Years | 55 Years | 10 years |
The minimum annual basic Contribution is 24,000/. Customer can pay his/her Contribution in different mode, Annual, semi-annual, Quarterly and Monthly.*There is no maximum limit for the Contribution.
In case the Participant has extra funds available, the plan provides the flexibility to channel these to the Plan and provide a boost to the savings. These lump sum contributions are called Fund Acceleration Contributions (FAC) and can be paid anytime during the year where membership is active and top up the regular investment.
Unit Allocation
Basic Premiums are allocated as per the schedule shown below:
| Year | Allocation (%) |
| Year 1 | 60% |
| Year 2 | 80% |
| Year 3 | 90% |
| Year 4 to on wards | 100% |
| Ad hoc | 100% |
Note: For a better understanding in making your selection according to your savings and insurance needs, you may contact representatives at your nearest Habib Metro Bank Limited branch.
Policy 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:
Protection
In the unfortunate case of your death, your nominated beneficiaries will receive the death benefit as much as 25*time of your annual premium or cash value of policy, whichever is higher. The cover multiple range, starting with the minimum of 5*that available to the policyholder, varies with the age at entry of life assured. *Depending on underwriting outcomes.
Application charges are as follows:
| Charges | Amount/Rate |
| Administration Charges | PKR 145 Per month |
| Investment Management Charge | 1.5% of the fund value P.A. |
| Bid/Offer Spread | 5% of the net regular Contribution |
| Fund Switching Charges | Rs. 500 after first four free switching in a year. |
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.
Being a flexible plan, it gives you the opportunity to select additional optional benefits.
Family Income Benefit: To meet recurring expenses, an additional regular incomewill be paid for a defined period to your family in addition to other benefits, in case of your death.
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 or Dismemberment: An additional amount will be paid under this benefit in case death or dismemberment occurs due to an accident.
Permanent Total Disability: The benefit payable on death is given in advance in case of permanent total disability.
Critical Illness: The benefit payable on death is given in advance in case you are diagnosed as having one of the specified critical illnesses.
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.
Disclaimer: HABIBMETRO Bank is just a promoter/ distributor and corporate agent of this product to its valued customers.
As parents we desire to achieve the dreams of our children and their welfare is our highest priority. Their education expenses put financial strain on us in these times of inflation. It is important to start savings wisely today to ensure that our children’s future turns out to be as we planned.
The plan is available to all Habib Metro Bank Limited customers between 18 to 55 years of age.
| Minimum Entry Age | Maximum Entry Age | Minimum Policy Term |
| 18 Years | 55 Years | 10 years |
The minimum annual basic Contribution is 24,000/. Customer can pay his/her premium in different mode, Annual, semi-annual, Quarterly and Monthly. *There is no maximum limit for the premium.
In case the Participant has extra funds available, the plan provides the flexibility to channel these to the Plan and provide a boost to the savings. These lump sum contributions are called Fund Acceleration Contributions (FAC) and can be paid anytime during the year where membership is active and top up the regular investment.
Basic Premiums are allocated as per the schedule shown below:
| Year | Allocation (%) |
| Year 1 | 60% |
| Year 2 | 80% |
| Year 3 | 90% |
| Year 4 to on wards | 100% |
| Ad hoc | 100% |
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.
Policy 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:
On death benefits payable equal to the greater of:
Application charges are as follows:
| Charges | Amount/Rate |
| Administration Charges | PKR 145 Per month |
| Investment Management Charge | 1.5% of the fund value P.A. |
| Bid/Offer Spread | 5% of the net regular Contribution |
| Fund Switching Charges | Rs. 500 after first four free switching in a year. |
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.
Protection
In the unfortunate case of your death, your nominated beneficiaries will receive the death benefit as much as 25*time of your annual premium or cash value of policy, whichever is higher. The cover multiple range, starting with the minimum of 5*that available to the policyholder, varies with the age at entry of life assured. *Depending on underwriting outcomes.
Built-in Benefit
Jubilee Assured Education Plan comes with built-in Education Continuation Benefit which ensures that your children 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 death of the life assured, which can be used for continuation of children’s education as planned.
Being a flexible plan, it gives you the opportunity to select additional optional benefits.
Family Income Benefit:
To meet recurring expenses, an additional regular income will be paid for a defined period to your family in addition to
other benefits, in case of your death.
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 or Dismemberment:
An additional amount will be paid under this benefit in case death or dismemberment occurs due to an accident.
Permanent Total Disability:
The benefit payable on death is given in advance in case of permanent total disability.
Critical Illness:
The benefit payable on death is given in advance in case you are diagnosed as having one of the specified critical illnesses.
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.
Disclaimer: HABIBMETRO Bank is just a promoter/ distributor and corporate agent of this product to its valued customers
Securing your future financial stability is of utmost importance. Habib Metropolitan Bank with Jubilee Life Insurance – Window Takaful Operations aims to provide you with a plan that assists you in achieving that. ‘Jubilee Assured Savings Takaful Plan’ accumulates funds while providing you with Takaful Coverage which can benefit you later in your life. Whether it is for your children’s education, to purchase a house, for retirement, or a rainy day, this financial planning is necessary. The plan will thus help you secure your future by preparing for it in an efficient way.
Policy Terms & Eligibility
The plan is available to all Habib Metropolitan Bank Limited customers between 18 to 65 years of age.
| Minimum Entry Age | Maximum Entry Age | Minimum Membership Term |
| 18 Years | 65 Years | 10 years |
The minimum annual basic Contribution is 24,000/. Customer can pay his/her Contribution in different mode, Annual, semi-annual, Quarterly and Monthly. *There is no maximum limit for the Contribution.
In case the Participant has extra funds available, the plan provides the flexibility to channel these to the Plan and provide a boost to the savings. These lump sum contributions are called Fund Acceleration Contributions (FAC) and can be paid anytime during the year where membership is active and top up the regular investment.
Basic Premiums are allocated as per the schedule shown below:
| Year | Allocation (%) |
| Year 1 | 60% |
| Year 2 | 80% |
| Year 3 | 90% |
| Year 4 to on wards | 100% |
| Ad hoc | 100% |
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.
Policy 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:
On death benefits payable equal to the greater of:
Application charges are as follows:
| Charges | Amount/Rate |
| Administration Charges | PKR 145 Per month |
| Investment Management Charge | 1.5% of the fund value P.A. |
| Bid/Offer Spread | 5% of the net regular Contribution |
| Fund Switching Charges | Rs. 500 after first four free switching in a year. |
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. Customer also have the facility of partial withdrawals that may be exercised by leaving a minimum balance (residual value) in the cash value.
Death Benefit: If the life covered expires during the term of the membership, the nominee will get Sum Covered or accumulated cash value, whichever is higher. The range of Cover Multiples offered under this plan is 5 – 254, hence, your Sum Covered can be 5 to 254 times of your annual basic contribution, depending upon underwriting outcomes.
For example, if your annual basic contribution is PKR 24,000 and you have selected a cover multiple of 5, your total sum covered would be: 24,000 x 5 = *PKR 120,000
*The range of cover multiples available to the participant varies with the age at entry of the life covered and underwriting outcome.
Maturity Benefit: You will receive an amount accumulated in Participants Investment Account (PIA), at the time of maturity of the membership. For further information, you may consult our Takaful Consultant.
Jubilee Assured Savings Takaful Plan is a flexible plan that lets you select additional optional benefits based on your needs.
Accidental Death Supplementary Takaful Benefit:
An amount in addition to the basic plan, death benefit will be paid to the beneficiary or beneficiaries chosen
by you in case of accidental death.
Critical Illness Supplementary Takaful Benefit
This Supplementary Takaful Benefit advances the benefit covered under basic plan in case of diagnosis of one of eighteen specified critical illnesses.
Permanent and Total Disability Supplementary Takaful Benefit
This Supplementary Takaful Benefit advances VAL the benefit covered under the basic plan in case of permanent and total disability.
Accidental Death or Dismemberment Supplementary Takaful Benefit
This Supplementary Takaful Benefit pays out in case of death or dismemberment due to accident, paying out complete or partial benefits depending on severity of the dismemberment.
Waiver of Contribution Supplementary Takaful Benefit
Your contribution from the next contribution due date will be paid by Jubilee Family Takaful, should you suffer an illness and disability and are not able to follow your own occupation or any other occupation suited by your knowledge, training or
education qualification for at least 6 months.
Family Income Supplementary Takaful Benefit
Provides you with the option of Family Income Benefit which ensures that in future your family will be able to maintain a good standard of living through a secure income provided to your family in case of sad demise of the Life Covered.
Disclaimer: HABIBMETRO Bank is just a promoter/ distributor and corporate agent of this product to its valued customers
Retirement is a time in a person’s life when they seek for the peace of mind to put aside their worries and daily hassles to enjoy the remaining years of their life. They should be able to cover their living expenses, which will have increased along their lifetime, so that they can look after themselves as they watch their kin grow and prosper.
Policy Terms & Eligibility
The plan is available to all Habib Metropolitan Bank Limited customers between 18 to 55 years of age.
| Minimum Entry Age | Maximum Entry Age | Minimum Policy Term |
| 18 Years | 55 Years | 10 years |
The minimum annual basic Contribution is 24,000/. Customer can pay his/her Contribution in different mode, Annual, semi-annual, Quarterly and Monthly. *There is no maximum limit for the Contribution.
In case the Participant has extra funds available, the plan provides the flexibility to channel these to the Plan and provide a boost to the savings. These lump sum contributions are called Fund Acceleration Contributions (FAC) and can be paid anytime during the year where membership is active and top up the regular investment.
Basic Premiums are allocated as per the schedule shown below.
| Year | Allocation (%) |
| Year 1 | 60% |
| Year 2 | 80% |
| Year 3 | 90% |
| Year 4 to on wards | 100% |
| Ad hoc | 100% |
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
Policy 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:
Death Benefits
On death benefits payable equal to the greater of:
Sum assured or The cash value of units.
Application charges are as follows:
| Charges | Amount/Rate |
| Administration Charges | PKR 145 Per month |
| Investment Management Charge | 1.5% of the fund value P.A. |
| Bid/Offer Spread | 5% of the net regular Contribution |
| Fund Switching Charges | Rs. 500 after first four free switching in a year. |
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. Customer also have the facility of partial withdrawals that may be exercised by leaving a minimum balance (residual value) in the cash value.
Death Benefit: If the life covered expires during the term of the membership, the nominee will get Sum Covered or accumulated cash value, whichever is higher. The range of Cover Multiples offered under this plan is 5 – 254, hence, your Sum Covered can be 5 to 254 times of your annual basic contribution, depending upon underwriting outcomes. For example, if your annual basic contribution is PKR 24,000 and you have selected a cover multiple of 5, your total sum covered would be: 24,000 x 5 = *PKR 120,000 *The range of cover multiples available to the participant varies with the age at entry of the life covered and underwriting outcome.
Maturity Benefit: You will receive an amount accumulated in Participants Investment Account (PIA), at the time of maturity of the membership. For further information, you may consult our Takaful Consultant.
Retirement Benefit at Maturity: If you are aged 55 years or above at maturity, you have the option to use the accumulated cash value of your fund and enroll for a pension for life (determined at the time of plan maturity).
Jubilee Assured Savings Takaful Plan is a flexible plan that lets you select additional optional benefits based on your needs.
Accidental Death Supplementary Takaful Benefit:
An amount in addition to the basic plan, death benefit will be paid to the beneficiary or beneficiaries chosen by you in case of accidental death.
Critical Illness Supplementary Takaful Benefit
This Supplementary Takaful Benefit advances the benefit covered under basic plan in case of diagnosis of one of eighteen specified critical illnesses.
Permanent and Total Disability Supplementary Takaful Benefit
This Supplementary Takaful Benefit advances VAL the benefit covered under the basic plan in case of permanent and total disability.
Accidental Death or Dismemberment Supplementary Takaful Benefit
This Supplementary Takaful Benefit pays out in case of death or dismemberment due to accident, paying out complete or partial benefits depending on severity of the dismemberment.
Waiver of Contribution Supplementary Takaful Benefit
Your contribution from the next contribution due date will be paid by Jubilee Family Takaful, should you suffer an illness and disability and are not able to follow your own occupation or any other occupation suited by your knowledge, training or education qualification for at least 6 months.
Family income supplementary Takaful Benefits:
Provide you with the option of family income benefits which ensure that the future of your family will be able to maintain you family through a secure income provided to your family in case of sad demise of the life.
Habib Metropolitan Bank is just a promoter/ distributor and corporate agent of this product to its valued customers
Planning for your children’s happiness is never something that can be taken lightly. Hopefully, your child’s future is bound to be full of security and stability and the ‘Jubilee Assured Marriage Takaful Plan’ provides you with just that.
The plan is available to all Habib Metro Bank Limited customers between 18 to 65 years of age.
| Minimum Entry Age | Maximum Entry Age | Minimum Policy Term |
| 18 Years | 65 Years | 10 years |
The minimum annual basic Contribution is 24,000/. Customer can pay his/her Contribution in different mode, Annual, semi-annual, Quarterly and Monthly. *There is no maximum limit for the Contribution.
In case the Participant has extra funds available, the plan provides the flexibility to channel these to the Plan and provide a boost to the savings. These lump sum contributions are called Fund Acceleration Contributions (FAC) and can be paid anytime during the year where membership is active and top up the regular investment.
Basic Premiums are allocated as per the schedule shown below:
| Year | Allocation (%) |
| Year 1 | 60% |
| Year 2 | 80% |
| Year 3 | 90% |
| Year 4 to on wards | 100% |
| Ad hoc | 100% |
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.
Policy 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:
Death Benefits
On death benefits payable equal to the greater of:
Product Charges
Application charges are as follows:
| Charges | Amount/Rate |
| Administration Charges | PKR 145 Per month |
| Investment Management Charge | 1.5% of the fund value P.A. |
| Bid/Offer Spread | 5% of the net regular Contribution |
| Fund Switching Charges | Rs. 500 after first four free switching in a year. |
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. Customer also have the facility of partial withdrawals that may be exercised by leaving a minimum balance (residual value) in the cash value.
Jubilee Assured Savings Takaful Plan is a flexible plan that lets you select additional optional benefits based on your needs.
An amount in addition to the basic plan, death benefit will be paid to the beneficiary or beneficiaries chosen by you in case of accidental death.
This Supplementary Takaful Benefit advances the benefit covered under basic plan in case of diagnosis of one of eighteen specified critical illnesses.
This Supplementary Takaful Benefit advances the benefit covered under the basic plan in case of permanent and total disability.
This Supplementary Takaful Benefit pays out in case of death or dismemberment due to accident, paying out complete or partial benefits depending on severity of the dismemberment.
Your contribution from the next contribution due date will be paid by Jubilee Family Takaful, should you suffer an illness and disability and are not able to follow your own occupation or any other occupation suited by your knowledge, training or education qualification for at least 6 months.
Provide you with the option of family income benefits which ensure that the future of your family will be able to maintain you family through a secure income provided to your family in case of sad demise of the life.
Habib Metropolitan Bank is just a promoter/ distributor and corporate agent of this product to its valued customers.
Providing top notch education to your children is the greatest gift you can give them. It is an invaluable opportunity that will benefit them greatly for their entire lives. If, for some unforeseen reason, you find yourself in a position where you’re unable to provide this prospect for your kin, it would be crucial for you to have a sense of security that your children’s future is safeguarded.
The plan is available to all Habib Metro Bank Limited customers between 18 to 55years of age.
| Minimum Entry Age | Maximum Entry Age | Minimum Membership Term |
| 18 Years | 55 Years | 10 years |
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.
Policy 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:
On death benefits payable equal to the greater of:
Application charges are as follows:
| Charges | Amount/Rate |
| Administration Charges | PKR 145 Per month |
| Investment Management Charge | 1.5% of the fund value P.A. |
| Bid/Offer Spread | 5% of the net regular Contribution |
| Fund Switching Charges | Rs. 500 after first four free switching in a year. |
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. customer also have the facility of partial withdrawals that may be exercised by leaving a minimum balance (residual value) in the cash value.
Death Benefit: If the life covered expires during the term of the membership, the nominee will get Sum Covered or accumulated cash value, whichever is higher. The range of Cover Multiples offered under this plan is 5 – 254, hence, your Sum Covered can be 5 to 254 times of your annual basic contribution, depending upon underwriting outcomes.
For example, if your annual basic contribution is PKR 24,000 and you have selected a cover multiple of 5, your total sum covered would be: 24,000 x 5 = *PKR 120,000
*The range of cover multiples available to the participant varies with the age at entry of the life covered and underwriting outcome.
Maturity Benefit: You will receive an amount accumulated in Participants Investment Account (PIA), at the time of maturity of the membership. For further information, you may consult our Takaful Consultant.
Built-in Benefit: Jubilee Assured Education Takaful Plan comes with built-in Education Continuation Takaful Benefit which ensures that your children 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 death of the life covered, which can be used for continuation of children’s education as planned.
Jubilee Assured Savings Takaful Plan is a flexible plan that lets you select additional optional benefits based on your needs.
Accidental Death Supplementary Takaful Benefit:
An amount in addition to the basic plan, death benefit will be paid to the beneficiary or beneficiaries chosen
by you in case of accidental death.
Critical Illness Supplementary Takaful Benefit
This Supplementary Takaful Benefit advances the benefit covered under basic plan in case of diagnosis of one of eighteen specified critical illnesses.
Permanent and Total Disability Supplementary Takaful Benefit
This Supplementary Takaful Benefit advances VAL the benefit covered under the basic plan in case of permanent and total disability.
Accidental Death or Dismemberment Supplementary Takaful Benefit
This Supplementary Takaful Benefit pays out in case of death or dismemberment due to accident, paying out complete or partial benefits depending on severity of the dismemberment.
Waiver of Contribution Supplementary Takaful Benefit
Your contribution from the next contribution due date will be paid by Jubilee Family Takaful, should you suffer an illness and disability and are not able to follow your own occupation or any other occupation suited by your knowledge, training or
education qualification for at least 6 months.
Disclaimer- HABIBMETRO Bank is just a promoter/ distributor and corporate agent of this product to its valued customers.
