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Bancassurance – Samar

Samar is an insurance plan particularly designed to cater the needs to high net worth individuals who want dual benefits of savings and protection

Features

  • Minimum premium amount option of PKR 250,000/-.
  • Annual, Semi Annual, Quarterly and Monthly premium payment options
  • Option of surrendering your policy at any time
  • Free look up period of 14 days allowing you to review your policy terms & conditions and cancel the policy, if necessary

Benefits

Death benefit: Unfortunate demise of policy holder, allows the nominated beneficiaries to receive the sum assured or accumulated cash value of the funds (whichever is higher).
Maturity benefit: Upon successful completion of the chosen term, you will receive the total amount of funds for the accumulated cash value of funds.

HBL Samar gives you the liberty to choose from various additional & optional insurance benefits depending on your goals and financial capability
Choose from the various additional & optional insurance benefits depending on your goals and financial capability​

Additional Benefits

Automatic cover maintenance: In case of non-payment of the premium after two years, eligibility for the life insurance cover will remain, provided that the plan’s cash value is sufficient to pay for charges made against the policy.
  Ad hoc (Top-up premium): To invest additional contributions in your plan in any given year, add them on top of your existing premium amount to enhance your cash value.
Partial Withdrawal: The funds that have been contributed in the form of Contributions (Regular, as well as Top-Up), along with the accumulated amount over time under this plan, can be withdrawn at any time, barring first membership year. This may be subject to a minimum amount withdrawn and a minimum amount of cash value remaining after the withdrawal. Despite partial withdrawals, you will continue to receive the Takaful cover although your sum covered may be reduced by the amount of partial withdrawals.

Optional Benefits

Accidental death benefit: For extra protection against accidental death, an additional amount will be paid under this benefit
Accidental Death & Dismemberment: An additional amount will be paid to nominated beneficiaries/ policyholders in case of dismemberment or death caused due to an accident.
Critical illness: The benefit payable on death to be paid in advance in case the policy holder is diagnosed with a life-threatening illness.
Permanent Total Disability: The sum assured will be paid in advance to the policyholder in case of permanent total disability during the tenure of the policy.
Premium waiver: Six months premium to be paid by Jubilee Life Insurance in case of accountholders inability to do so because of an illness or disability.
Jubilee MediPal: This rider provides financial protection in case of illness or accident that leads to hospitalization with coverage up to the limit of PKR 250,000 for in – patient expenses incurred by the life assured. Furthermore, the life assured can also select MediPal for his / her spouse. The policyholder will have the advantage of obtaining quality medical care services coupled with a private room at any of the approved hospitals without having to pay anything

Premium Allocation

Year
Allocation
1st Year
50%
2nd Year
85%
3rd Year
90%
4th & 5th Year
100%
6th Year & Onwards
103%
Adhoc
100%

Application Procedure

To apply for this plan, please provide the following documents

  • Eligibility from 18-65 years of age
  • Attested CNIC copy required
  • Completed proposal form with signature
  • Signed direct debit instructions
  • Signed basic fact sheet
  • Signed product introduction document
  • Signed assessment form
  • Signed sample illustration signed

Service Fee

  • Investment Charge: 1.50% p.a. of Fund Value
  • Admin Fee: PKR 165 per month
  • 5% Bid Offer Spread
  • Applicable Mortality Charges
  • Rider charges
  • Policy Fee;
    • PKR 0 for annual and monthly premium payment mode

    • PKR 250 for semi annual premium payment mode

    • PKR 300 for quarterly premium mode

  • Fund Switching / Redirection, PKR 500/- if more than four are opted for per year
  • Surrender/Partial Withdrawal charge of 5% during first two policy years. No charge will apply after first two policy years

*All charges can be revised by the Jubilee Life Insurance


“HBL Bancassurance products are managed by Jubilee Life Insurance and distributed by HBL“.
For further details contact Jubilee Life Insurance advisors at HBL branches or call: (021) 111 111 554, SMS: *JUBILEELIFE* to 8398

HBL Samar Plan (English).pdf  
Size: 1321 KB
HBL Samar Plan (Urdu).pdf  
Size: 1996 KB
HBL Medipal (Samar).pdf  
Size: 983 KB