Afiyah is a tailor made plan that not only helps you accumulate funds but also provide life protection cover so that your family future remains secure against unforeseen events such as your untimely demise.
Minimum contribution amount option of PKR 250,000/-
Annual, Semi Annual, Quarterly and Monthly contribution 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
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 Afiyah gives you the liberty to choose from various additional & optional takaful benefits depending on your goals and financial capability
Choose from the various additional & optional takaful benefits depending on your goals and financial capability
Automatic cover maintenance: In case of non-payment of the contribution after two years, eligibility for the life takaful cover will remain, provided that the plan’s cash value is sufficient to pay for charges made against the policy.
Ad hoc (Top-up contribution): To invest additional contributions in your plan in any given year, add them on top of your existing contribution 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form of Contributions (Regular, as well as Top-Up), along with the accumulated amount over time under this plan, can be withdrawn at any time, barring first membership year. This may be subject to a minimum amount withdrawn and a minimum amount of cash value remaining after the withdrawal.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.
Surplus Sharing: Takaful Afiyah Plan not only provides sharing of risks, but also offers Surplus sharing, a unique feature provided to the participants. By contributing an amount (Donation) as Tabarru, the participant is entitled to possible Surplus sharing from the Waqf Fund. If at the end of the stated period, any excess amount is left after paying off claims and other costs, it is utilized for the following purposes:
A portion of the fund would be set aside to strengthen the Waqf Fund for future excessive claims;
Remaining surplus may by distributed among the participants, on a fair and equitable basis
In any case the Surplus would not belong to the Window Takaful Operator and would always be used for the benefit of the Pool/or the public at large
Accidental death supplementary takaful benefit: For extra protection against accidental death, an additional amount will be paid under this benefit
Accidental Death & Dismemberment supplementary takaful benefit: An additional amount will be paid to nominated beneficiaries/ policyholders in case of dismemberment or death caused due to an accident.
Critical illness supplementary takaful benefit: 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 supplementary takaful benefit: The sum assured will be paid in advance to the policyholder in case of permanent total disability during the tenure of the policy.
Contribution waiver supplementary takaful benefit: Six months contribution to be paid by Jubilee Life Takaful in case of accountholders inability to do so because of an illness or disability.
Jubilee MediPal supplementary takaful benefit: 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.
4th & 5th Year
6th Year & Onwards
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
Investment Charge: 1.50% p.a. of Fund Value
Admin Fee: PKR 165 per month
5% Bid Offer Spread
Applicable Mortality Charges
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
- PKR 0 for annual and monthly contribution payment mode
- PKR 250 for semi-annual contribution payment mode
- PKR 300 for quarterly contribution mode
*All charges can be revised by the Jubilee Life Takaful
“HBL Bancassurance products are managed by Jubilee Life Insurance and distributed by HBL“.For further details contact Jubilee Life Takaful advisors at HBL branches or call: (021) 111 111 554, SMS: *JUBILEELIFE* to 8398