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Shandur gives the benefit of gaining elevated profits for high volume investments. Not only does it offer higher allocation to your contribution but your money will go even further with a tax rebate.


  • Minimum premium amount option of PKR 1000,000/-

  • Biannually and yearly-premium payment options

  • Option of surrendering your policy after two policy years if two years’ premiums has been paid in advance

  • Free look up period of 14 days allowing you to review your policy terms & conditions and cancel the policy, if necessary


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

Additional benefits

1 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.

2 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.

3 Partial Withdrawal : Withdraw any amount, to meet a sudden need, without surrendering your policy. However the residual cash value of your policy after withdrawal should be greater than or equal to Rs.250,000* .

Optional Benefits

  1. Family income benefit: In case of an untimely death of the account holder,  additional regular income will be paid for a specified period to the immediate family

  2. Accidental death benefit:  For extra protection against accidental death, an additional amount will be paid under this benefit

  3. Critical illness: The benefit payable on death to be paid in advance in case the policy holder is diagnosed with a life-threatening illness.

  4. Cash for hospitalization: Policy holder will receive a daily benefit of up to Rs. 15,000 per day if he/she is confined to a hospital. The benefit payable is to be doubled in case of hospitalization due to a life-threatening illness. In case the account holder  is confined to an ICU, an additional 50% benefit will be payable. Spouse and children can also be covered under this plan.

  5. Accidental death and dismemberment: An additional amount to be paid in case of death and dismemberment caused by an accident.

  6. Permanent total disability: Benefit payable on demise to be given in advance in case of permanent total disability.

  7. ​Premium waiver: Six months premium to be paid by Jubilee Life Insurance in case of account holders inability to do so because of an illness or disability.

Premium Allocation

​The premium allocated to unit account is provided in the table below:​

1st Year
8th & 9th Year
2nd Year
10th Year
3rd & 4th Year
11th Year onwards*
5th Year
6th Year
7th Year

Application Procedure


  • 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

In addition to reduced allocation in initial years, following charges are applicable on the plan:

  • An investment management charge of 1.5% p.a. of fund value

  • An admin fee of Rs.100 per month

  • 5% bid offer spread

  • Applicable mortality charges

  • Rider charges, if an​y
  • Fund Switching/Redirection, PKR 500 more than four are applied for per year.
  • Policy Fee:

  • PKR 0 for Annual and Monthly Premium payments
  • PKR 250 for Semi Annual Payment Mode
  • PKR 300 for quarterly Premium Payment Mode

*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 (111 111 JLI), SMS: *JUBILEELIFE* to 8398.​​​

HBL Shandur Plan (English).pdf  
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HBL Shandur Plan (Urdu).pdf  
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