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Bancatakaful - Istehkam

“Takaful Istehkam Plan” is a flexible plan that provides protection cover and savings on a consistent basis so that your children’s dreams and future remains secure.


  • Minimum contribution amount option of PKR 24,000/-​
  • Monthly, quarterly, biannually and yearly-contribution payment options​
  • Option of surrendering your plan after two plan years if two years’ contributions has been paid in advance​
  • Free trial period of 14 days allowing you to review your plan terms & conditions and cancel the plan, if necessary​


Death Benefit: In the unfortunate case of death, your nominated beneficiaries will receive the sum covered or the accumulated cash value of your funds (whichever is higher). This plan offers you an option to select your protection needs. Protection amount can be between 5-254 times your annual basic contributions depending upon underwriting outcomes.
Maturity Benefit: Upon survival till the end of the chosen term of Takaful Istehkam Plan, you will receive the accumulated cash value of your fund as a lump sum

Takaful Istehkam gives you the liberty to choose from various optional & additional takaful benefits depending on your goals and financial capability

Additional benefits

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.
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 plan.
Partial Withdrawal: The funds that have been contributed by yourself 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form of Contributions (Regular, as well as Top-Up), along with the accumulated amount over time under this plan, can be withdrawn at any time, barring first membership year. This may be subject to a minimum amount withdrawn and a minimum amount of cash value remaining after the withdrawal.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 Istehkam 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.

Built-in 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.

Optional Benefits

Family Income Supplementary Takaful Benefit: Regular quarterly payments will be payable in the event of death, from date of death to the end of the Supplementary Takaful Benefits’ term.
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.

Contribution Allocation

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

Allocation %
Year 1
Year 2
Year 3 to Year 5
Year 6 and Onwards
Top Up Contribution

Application Procedure

  • Eligibility from 18-65 years of age​
  • Attested CNIC copy require​d
  • Completed proposal form with signature
  • Signed direct debit instructions
  • Signed basic fact she​et
  • Product introduction document signed
  • Assessment form
  • Sample illustration signed

Service Fee

Allocation Fee: Amount of Regular Basic Contributions not allocated to the PIA.
Investment Management Fee: 1.5% p.a. of the Net Asset Value in PIA. Admin Fee Rs. 100 per month.
Takaful Contribution Takaful: Contribution shall be deducted as filed with the SECP from PIA and credited to IFTPF for the benefit covered to be paid from IFTPF.
Wakalah Fee From IFPTF: 25% of each Takaful Contribution for Benefits covered under Participants Membership Document. 40% of each Takaful Contribution for Benefit Covered under the Supplementary Takaful Benefit documents.
Switching Fee: Rs. 500 per Switch if more than four (4) are availed in a Membership Year.
Mudarib Share: The Window Takaful operator (Mudarib) will be entitled to 40% of the Investment Income earned by IFPTF (Rabb ul Maal) on the basis of Mudarabah
Admin Fee: PKR 110 per month
*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

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