Standard Chartered Bank Pakistan - Bancassurance

You can provide your child with every advantage and ensure that his/her potential will be nurtured to its fullest.

As parents, we sometimes have to compromise on our child's interests, welfare and future because of lack of funds to pay for his/her education. But not anymore.

Let your child be the best that he/she can be by letting NJI take care of your child's education, both today and in the future.

Goal: Provide your child with the best possible higher education.

Financial objective: Save as little as Rs 1,000 per month to allow him/her to study in the best institution when the time comes.

Solution: IQRA Education Insurance Plan.

Components: Continuity of school education in case of your death and savings for college education in future.

Open an Account with Standard Chartered and apply for a comprehensive education plan with New Jubilee Life Insurance (NJI). This plan will:


a)	Ensure continuity of your child's school education in case of death of the sponsoring parent.

b)	Allow you to start a compulsory saving on a monthly basis so that you can provide him/her the best college / university education in future. All you need to do is visit your Bancassurance Financial Consultant, choose a plan according to your needs and fill out an Account debit instruction.

How does this plan work?
IQRA Education Insurance Plan is a unit-linked product through New Jubilee Life Insurance (NJI), providing you an excellent vehicle for savings and investments with vital protection against the tragic incidents of life.

This is how it works in the following situations:

Policyholder is not around:
If the policyholder passes away, a monthly income is paid to the family while the premium is waived till the child reaches the specified college age.The sum assured can either be paid to the family at the time of the tragedy or can be re-invested and paid to the child (in 4 annual installments or a lump sum amount) when the child reaches college age.

Completion of policy duration:
When the duration of policy is completed, the policy holder will receive the cash value of the policy at the time of commencement of the child's college education in a lump sum or in 4 annual installments.

Illustraion for reference:
Let us draw an example:
The father's age is 28 years and he has a 2 year old child. HIs goal is to send him/her to a reputed university in 18 years time.

So, by saving just Rs 100 per day, you can secure your child's higher education needs.

Salient Features

Minimum term of the plan is 10 years

Age of the policyholder should be between 18-55 years

Periodic reviews to keep the plan in line with changing requirements

The flexibility of paying premiums for only a selected period

Premiums can be increased annually to cover inflation impacts

Choice in the level of cover

Tax free growth

Flexibility of encashing the plan any time (early surrender may result in losses)

Ability to make partial withdrawals from your plan, without affecting the protection feature

Choice of extra protection through the following supplementary options:

	Accidental death and dismemberment
	Critical illnesses
	Wavier of premium option

Note:
1.	Service charges and taxes will be applicable as per the Bank's Schedule of Charges or taxation laws as stipulated by the relevant authorities.
2.	Unit growth rate assumed at 8% p.a.
3.	This broucher gives a general outline of the product.The above figures are indicative and for illustration purpose only; Terms and Conditions apply.
4.	Past performance of funds is not necessarily a guide to future performance. Any forecast made is not necessarily indicative of future or likely performance of the funds.
5.	This product is not guaranteed or insured by Standard Chartered Bank (Pakistan) Limited or their affiliates and is not a Standard Chartered Bank (Pakistan) Limited product.
6.	Iqra is underwritten by New Jubilee Life Insurance (NJI)