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Goal-Based SavingGoal-Based Saving

Goal-Based Saving

Dream it. Save for it. Live it: Ba-asani Alfa k sath
Ever had a goal to purchase a Mobile phone, Car, Xbox or plan any Vacation trip but couldn’t save for it? With Alfa Goal-Based Saving, set any customizable goal for a duration of 1 month – 12 months and let Alfa save for you with its Auto-Debit feature.

Product Features

Customizable Goals Bike, Car, Hajj, Umrah, Shadi, Education, Annual Vacation/Trip, or any Goal of your choice
Goal Amount Rs 5,000 – Rs 500,000
Goal Tenure (Duration) 1 Month, 3 Months, 6 Months, 12 Months
Payment Options Daily, Weekly, Fortnightly (every 2 weeks), Monthly
Debit Source Bank Alfalah Account, Alfa Account (Wallet)
Free Insurance 100% free insurance of the remaining goal instalments in case of accidental death or permanent disability
Auto-Debit Automatic deductions of installments from the selected Account or Wallet, based on selected payment options
Goal Tracker Track the status of your goals, payments made and remaining installments with their Timelines
Manual Top-ups Manually pay your installments for early completing the goal

Here’s how to use Goal-Based Saving

Free Goal Insurance

Scope Goal-Based Saving offers free insurance coverage of the remaining Goal balance in case of Accidental Death or Permanent Total Disability
Benefits Accidental Death Benefit
Upon the death of a Member due to Accident whilst the Policy is in full force, the benefit payable shall be the Projected Investment less total Instalment Amounts already deposited in the Investment Account subject to a maximum of Rs. 500,000
Accidental Disability Benefit
Upon Permanent Total Disability of a Member due to Accident whilst the Policy is in full force, the benefit payable shall be the Projected Investment less total Installment Amounts already deposited in the Investment Account subject to a maximum of Rs. 500,000
The plan works on the basis of Decreasing Term Assurance. Therefore, the amount of any benefit shall decrease on a monthly basis from the Effective Date of Individual Cover with the Installment Amount due to be deposited. The maximum aggregate amount of claim for any one Member in respect of multiple Investment Accounts on his name shall not exceed Rs 500,000.
Applicable Ages Enrollment Age: 18 to 65 years
Coverage Age: 18 to 66 years
Maximum Coverage Amount Rs 500,000
Term This is a monthly cover product and the cover is applicable for 30 days from the time of last instalment paid. Maximum of 12 months cover
Exclusions For Accidental Death Benefit

  • Claim arises due to travelling in war inflicted areas
  • Intentional Self inflicted injury, suicide, participation in any criminal act or violation of law
  • Participating in exercises or operations while serving with either of the armed or paramilitary forces or while performing any form of policy duty or travelling in war inflicted areas

For Accidental Disability

  • Intentional Self-inflicted injury, participation in any criminal act or violation of law
  • Failure to seek or follow medical advice, taking of alcohol or drugs
  • Participating in exercises or operations while serving with either of the armed or paramilitary forces or while performing any form of policy duty or travelling in war inflicted areas
Claim process Written notice of claim must be given to EFU Life immediately. All claims will require evidence of claim and proof of age of the insured member. The customer can call EFU Life directly at 111-338-111 or email at claims@efulife.com to lodge the claims from along with the following documents:

  • Copy of death certificate issued by NADRA/ Union Council.
  • Copy of CNIC of claimant and deceased. Claimant’s Statement.
  • Succession of certificate & original guardian-ship certificate (in case the beneficiary is a minor)
  • Attending physicians report, post mortem/FIR.
  • Any other document, which may be deemed necessary by the company.
Frequently Asked Questions
Read Questions & Answers related to this page.

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