Key Benefits

• Hybrid product unique combination of Bonus Based and Unit Linked
• High Value Savings
• Attractive rate of return
• Shariah compliant Takaful Coverage approved by Takaful company’s Shariah Board
• Death Benefit and Maturity Benefit
• Free Look Period of 14 Days

Premium:

The premiums can be made annually, semi-annually, quarterly or monthly. Given below is a breakdown of the minimum premium contributions that can be made:

Note

For a better understanding in making your selection according to your savings and insurance needs, you may contact representatives at your nearest Bank Alfalah branch.

Eligibility

The plan is available to all Bank Alfalah Limited customers between 18 years to 60 years of age.

Term of Plan

Minimum Term: 10 years
Maximum Term: 52 years

Claims

The Plan provides a handsome, lump sum amount at maturity or (God forbid) at the death of the assured. Customer’s beneficiary/Nominee/claimant visits branch for claim. BS requests for the required documents for the claim

ESSENTIAL DOCUMENTS REQUIRED TO PROCESS DEATH CLAIM

• Policy Schedule.
• Original Policy Documents.
• Death Certificate duly issued by the competent authority i.e. NADRA / Union Council etc.
• Copy of valid CNIC of deceased, claimant and identifier.
• Claim Forms:
  1. Claim Form A (Claimant Statement)
  2. Claim Form A-5
  3. Claim Form B, (Medical Attendant Statement)
  4. Claim Form C (Identification Statement)
  5. Claim Form D (Employer Statement)
• Premium Collection Record.
• Claim investigation report (in case of early death Claim)

Note

Claim Form A-5 is to be used where policies stand assigned in favor of the Provident Fund Department.

• BS forwards the same to Bank Operations
• Bank Ops scrutinizes the documents and dispatches the same to SLIC/GBA
• SLIC/GBA verifies the received documents
• SLIC/GBA process the claim and sends documents to SLIC
• SLIC receives the documents for claim processing
• SLIC issue the claim forms to the claimant
• After submission of the claim forms/papers and other requirement if any, SLIC process the claim
• SLIC counter check and process the claim
• SLIC sends the claim cheque to GBA
• GBA prepares discharge letter
• GBA Sends the Claimant Cheque and Claim Amount Discharge Letter to the Bank Ops
• Bank Ops Forwards the same to DSFO/respective branch
• Beneficiary visits the Bank to collect the cheque
• BS calls the beneficiary to collect the cheque in person

BS ensures the claimant by

• Original CNIC
• Copy of the cheque signed by beneficiary and sends to SLIC/GBA
• Signature on Discharge Letter
• Bank forwards the original relevant documents to SLIC/GBA

Free Look Period:

If you cancel your policy within a free look period of 14 days from the date of receipt of the Policy documents, you are entitled for a full refund of premium less any expenses incurred by State Life Insurance Corporation of Pakistan in connection with your medical or clinical examinations.

Disclaimer

The product is underwritten by State Life Insurance Corporation of Pakistan. It is not guaranteed or insured by Bank Alfalah Limited or its affiliates.