Children are one's joy, pride and world for every parent, they strive to give their little one(s) the very best in life. Best education is the only asset that can be given to a child for lifetime.

Standard Chartered Bank (Pakistan) Limited introduces Taleem, an education plan exclusively designed to cater your needs, underwritten by EFU Life Assurance Ltd. Taleem, would facilitate one to plan wisely for a financially secure and comfortable tomorrow, no matter what the uncertainty of life.

Taleem guarantees a minimum amount payable at maturity of the plan.The amount payable is equal to the sum assured of the plan OR the fund value at the time of death (whichever is higher).

The purpose of Taleem is to provide a substantial amount at the time when your child is going for higher education.

Taleem has a Dual Saving Option that allows hassle free, cost effective saving through a single plan for upto two children. The plan initially may be taken for the education planning of one child. Later, during the term of the plan, if one wishes to include another child, he may do so by increasing the annual contribution and changing the maturity date.

Taleem gives the flexibility by catering to the education needs of the child at key educational milestones.The parent can make partial withdrawals to provide the necessary flow of funds for education.

Every contribution in Taleem is invested in an internal investment fund of EFU Life called the "EFU Managed Growth Fund". The contributions are utilized to buy units of the fund at the prevailing offer price. The objective of the fund is to maximize capital growth by investing in a balanced portfolio spread across a wide range of shares, government and other fixed interest securities and cash. The fund is managed by investment experts who adjust the mix of the underlying investments in light of economic conditions and investments opportunities.

Children's future education expenses don't come at once. Often there might be a huge cost with extra expense over subsequent years.To match the need of the future education expenses of the child, Taleem provides the facility to withdraw the full maturity value,or in 4, 5 or 6 annual installments.

At maturity, provided all premiums have been paid under the policy, EFU Life will pay a maturity bonus. This Education Bonus will be paid in the form of an extra unit allocation into the policy.

The one time final unit allocation at maturity will be:

	10% of the average basic plan premium paid during the entire policy term if the plan term is upto 15 years
	20% of the average basic plan premium paid during the entire policy term if the plan term is 16 years and above

The extra allocation will give an immediate boost to the final maturity value which will help the assured parent or the family to better achieve the purpose of the fund accumulation - education of children.

In the unfortunate event of death of the assured parent, Taleem would ensure that the targeted fund at maturity is achieved, EFU Life will continue to make the contributions, so that the future educational planning of the child is not discontinued. This ensures that the required funds are available for the child's future education, even if the parent is not there.

Taleem provides complete access to the accumulated fund value at all times. After the contributions have been paid for two full years, the fund can be withdrawn for its full or partial value.

Taleem gives an option in which a quarterly income (upto 25% of the basic annual premium) is paid to the family, in case of the unfortunate death of the parent during the plan term.

In case of inability of the assured parent to continue any occupation due to permanent disability, the premium is waived. However the benefits of the plan continue. This optional feature ensures that the required funds are available to meet the child’s education expenses, even if the parent is not there.

The minimum annual pemium required for Taleem is Rs 15,000.

Taleem is available to individuals of 18 years to 60 years of age. The applicable savings terms are from 10 to 25 years.

The parent's age is 30 years, who has a 2 year old child. In order to realize his dream of providing quality higher education to the child, he decides to contribute Rs 100,000 per anum for 18 years in Taleem. At the end of 18 years, an expected amount of approximately Rs 4,200,000 shall be available to meet the educational expenses of the child.

The table below shows the expected cash values of Taleem on the basis of the scenario mentioned above.