Jubilee Life Insurance

HABIBMETRO offers the following Bancassurance products in collaboration with Jubilee Life Insurance.

Optional Rider

The following Optional Rider(s) can be attached with these products to enhance the coverage level on payment of additional premium:

Built-in Rider

Education Continuation Benefit (ECB):

To meet the recurring expenses such as school fees, an additional regular income will be paid until the expiry of a defined period to your family in addition to other benefits. The premium for this built-in rider is charged in addition to the basic plan premium.

Optional Rider(s)

Accidental Death:

This rider provides 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 Benefit:

An additional amount will be payable in full under this benefit in case death occurs due to an accident. In cases of dismemberment, full or partial amount may be payable depending on the nature of dismemberment.

Waiver of Premium:

If the life assured suffers an illness or disability and is not able to follow his/her own occupation or any other occupation suited by his/her knowledge, training or education for at least six months, then the premium from the next premium due date will be waived until recovery.

Critical Illness:

This rider advances the benefit payable on death in case the life assured is diagnosed as having one of the specified critical illness.

Permanent Total Disability:

Advances the benefit payable on death in case the life assured suffers permanent total disability.

Hospitalization Cash Rider:

A daily benefit is paid if the life assured is confined to a hospital. The benefit is doubted in case of hospitalization due to any of the critical illness. In case of confinement to ICU, additional 50% benefits will be payable. Spouse and children can also be covered under this benefit.

The premium for these optional rider(s) is charged in addition to the basic plan premium.

The above is an outline of the product. The product will be governed by the detailed Terms and Conditions of the Agreement.

Disclaimer: “The product is underwritten by Jubilee Life Insurance. It is not guaranteed or insured by “Habib Metropolitan Bank.”

Investment Fund	MANAGED FUND , MEESAQUE FUND , YAQEEN & CAPITAL
Minimum/Maximum Age at Entry	18-65 years (nearest birthday)
Maximum Age at Maturity	70 years (nearest birthday)
Available Term & Payment Range	Whole Life
Minimum Annual Premium	24,000
Unit Allocation as % of Basic Plan Premium	Year 1 – 30%
	Year 2 – 85%
	Year 3 – 90%
	Year 4 – 100%
	Year 5 & onwards – 103%
	Ad hoc – 100%
Cover Multiple	5 – 254
Sum Assured	Regular Basic Premium x Cover multiple
Premium Payment Mode	Monthly, Quarterly, Semi Annual & Annual
Access to Savings	You can withdraw your funds (either fully or partially) after completion of two policy years,provided you have paid premiums for two years.
Partial Surrender Benefits (available after completion of two years)	Bid Value of Units requested for Partial Withdrawal. Amount of Partial Surrender may be subject to minimum amount and residual value determined by the Company.
Policy Surrender Option	Allowed after completion of two policy years provided that two annual premiums have been paid by the policy owner
Ad Hoc Premium (Interim Fund Injections)	Allowed anytime during policy term
Partial Withdrawal	If you need to withdraw cash for meeting some emergency needs, but do not want to surrender the policy,you can withdraw any amount,subject to minimum of Rs. 15,000 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.24,000.
Full Policy Surrender	At time of surrender, you will be paid the cash value of your fund.However,surrender in early policy years may result in lower cash values.
Death Benefit	Sum Covered or Cash value of units, whichever is higher.
Surrender Benefit (available after payment of two years premium)	Bid value of units at time of surrender
Optional Riders	Accidental Death Benefit, Accidental Death & Dismemberment Benefit, Permanent Total Disability Benefit, Critical Illness Benefit, Hospitalization Cash Benefit, Waiver of Premium Benefit, Family Income Benefit
Applicable Charges	Bid/Offer Spread: 5% of Basic Premium
	Management Charge: 1.5% of Fund Value per annum
	Administration Fee: Rs 110 per month (Currently Available)
	Mortality Charge: Applied on Sum At Risk on attained age basis

Investment Fund	MANAGED FUND & MEESAQ FUND
Minimum/Maximum Age at Entry	18-65 years nearest birthday
Maximum Age at Maturity	75 years nearest birthday
Available Term & Payment Range	10-57 years
Minimum Annual Premium	24,000
Unit Allocation as % of Basic Plan Premium	Year 1 – 35%
	Year 2 – 85%
	Year 3 – 90%
	Year 4 – 100%
	Year 5 & onwards – 103%
	Ad hoc – 100%
Access to Savings	You can withdraw your funds (either fully or partially) after completion of two policy years,provided you have paid premiums for two years.
Cover Multiple	Not Applicable
Sum Assured	Maximum 5 times of the Basic Premium
Premium Payment Mode	Monthly, Quarterly, Semi Annual & Annual
Partial Surrender Benefits (available after completion of two years)	Bid Value of Units requested for Partial Withdrawal. Amount of Partial Surrender may be subject to minimum amount and residual value determined by the Company.
Partial Withdrawal	If you need to withdraw cash for meeting some emergency needs, but do not want to surrender the policy,you can withdraw any amount,subject to minimum of Rs. 15,000 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.24,000.
Policy Surrender Option	Allowed after completion of two policy years provided that two annual premiums have been paid by the policy owner
Ad Hoc Premium (Interim Fund Injections)	Allowed anytime during policy term
Full Policy Surrender	At time of surrender, you will be paid the cash value of your fund.However,surrender in early policy years may result in lower cash values.
Death Benefit	Sum Covered plus Return of Premium or Cash Value(whichever is higher)
Surrender Benefit (available after payment of two years premium)	Bid value of units at time of surrender
Optional Riders	Accidental Death Benefit, Accidental Death & Dismemberment Benefit, Hospitalization Cash Benefit
Applicable Charges	Bid/Offer Spread: 5% of Basic Premium
	Management Charge: 1.5% of Fund Value per annum
	Administration Fee: Rs 110 per month (Currently Available)
	Mortality Charge: Applied on Sum At Risk on attained age basis

Investment Fund	MANAGED , MEESAQ, YEAQEEN & CAPITAL GROWTH
Minimum/Maximum Age at Entry	18-55 years nearest birthday
Maximum Age at Maturity	70 years nearest birthday
Available Term & Payment Range	10-25 years
Minimum Annual Premium	24,000
Unit Allocation as % of Basic Plan Premium	Year 1 – 35%
	Year 2 – 85%
	Year 3 – 90%
	Year 4 – 100%
	Year 5 to onwards – 103%
	Ad hoc – 100%
Cover Multiple	5-25
Sum Assured	Regular Basic Premium x Cover multiple
Partial Withdrawal	If you need to withdraw cash for meeting some emergency needs, but do not want to surrender the policy,you can with draw any amount,subject to minimum of Rs. 15,000 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.24,000.
Premium Payment Mode	Monthly, Quarterly, Semi Annual & Annual
Partial Surrender Benefits (available after completion of two years)	Bid Value of Units requested for Partial Withdrawal. Amount of Partial Surrender may be subject to minimum amount and residual value determined by the Company.
Policy Surrender Option	Allowed after completion of two policy years provided that two annual premiums have been paid by the policy owner
Ad Hoc Premium (Interim Fund Injections)	Allowed anytime during policy term
Full Policy Surrender	At time of surrender, you will be paid the cash value of your fund.However,surrender in early policy years may result in lower cash values.
Death Benefit	Sum Covered or Cash value of units, whichever is higher.
Surrender Benefit (available after payment of two years premium)	Bid value of units at time of surrender
Built In Rider	Child Education Benefit (FIB) EDUCATION CONTINUATION BENEFITS
Built-in Benefit	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.
Optional Riders	Accidental Death Benefit, Accidental Death & Dismemberment benefit, Permanent Total Disability benefit, Critical Illness Benefit, Hospitalization Cash Benefit, Waiver of Premium Benefit
Applicable Charges	Bid/Offer Spread: 5% of Basic Premium
	Investment Management Charge: 1.5% of Fund Value per year
	Administration Fee: Rs 110 per month (Currently available)
	Mortality Charge: Applied on Sum At Risk on attained age basis

Investment Fund	Managed , Yakeen Growth, Capital Growth, Meesaq
Minimum/Maximum Age at Entry	18-55 years
Maximum Age at Maturity	70 years nearest birthday
Available Term & Payment Range	10-25 years
Minimum Annual Premium	24,000
Unit Allocation as % of Basic Plan Premium	Year 1 – 35%
	Year 2 – 85%
	Year 3 – 90%
	Year 4 – 100%
	Year 5 to onwards – 103%
	Ad hoc – 100%
Cover Multiple	5-25
Sum Assured	Regular Basic Premium x Cover multiple
Access to Savings	You can withdraw your funds (either fully or partially) after completion of two policy years,provided you have paid premiums for two years.
Premium Payment Mode	Monthly, Quarterly, Semi Annual & Annual
Partial Surrender Benefits (available after completion of two years)	Bid Value of Units requested for Partial Withdrawal. Amount of Partial Surrender may be subject to minimum amount and residual value determined by the Company.
Policy Surrender Option	Allowed after completion of two policy years provided that two annual premiums have been paid by the policy owner
Ad Hoc Premium (Interim Fund Injections)	Allowed anytime during policy term
Partial Withdrawal	If you need to withdraw cash for meeting some emergency needs, but do not want to surrender the policy,you can withdraw any amount,subject to minimum of Rs. 15,000 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.24,000.
Full Policy Surrender	At time of surrender, you will be paid the cash value of your fund.However,surrender in early policy years may result in lower cash values.
Death Benefit	Sum Covered or Cash value of units, whichever is higher.
Surrender Benefit (available after payment of two years premium)	Bid value of units at time of surrender
Optional Riders	Accidental Death Benefit, Accidental Death & Dismemberment benefit, Permanent Total Disability benefit, Critical Illness Benefit, Hospitalization Cash Benefit, Waiver of Premium Benefit, Family Income Benefit
Applicable Charges	Bid/Offer Spread: 5% of Basic Premium
	Management Charge: 1.5% of Fund Value per annum
	Administration Fee: Rs 110 per month (Currently Available)
	Mortality Charge: Applied on Sum At Risk on attained age basis

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