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Invest 'n' Assure
Give assurance to your loved ones
As you take each step in life, your role and responsibilities change. Whether you are at the beginning of your career, have just started a family, require funds for your children's education or marriage or would like to plan for your retirement, you need to have a financial planning tool which can respond to your changing circumstances and at the same time provide you sufficient funds to fulfill your and your family's needs.
Standard Chartered Bank (Pakistan) Limited brings you Invest 'n' Assure through EFU Life Assurance Ltd. It is a flexible and high value savings and protection plan that ensures that your dreams become a reality at all stages of life.... throughout your life!
Avail of the salient benefits available with Invest ‘n’ Assure:
- Choose different levels of life insurance protection for the same amount of premium
- Change your level of life cover as your circumstances change
- Get loyalty rewards through Guaranteed Loyalty Bonus
- Accelerate the build-up of your funds through Fund Acceleration Premiums
- Participate in the returns of the EFU Managed Growth Fund
- Benefit from the Plan's high investment allocation
- Cover yourself through Whole-of-life Insurance Protection
- Access your savings when you need them
- Add supplementary benefits to tailor the plan to your needs
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The protection available for the beneficiary is:
- Opportunity for Growth:
Your contributions to the Plan will be utilised to purchase units of the EFU Managed Growth Fund. This is a unit linked Fund with a balanced investment strategy. The objective of the Fund is to maximise 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 investment opportunities.
- Guaranteed Loyalty Bonus:
The longer you continue the Plan, the higher the rewards. The Plan offers generous Loyalty Bonus in the form of extra units in your Fund if you continue the Plan without any breaks beyond a period of 10 years. The bonus is allocated to your Plan every 5 years and will increase your underlying accumulated Fund value rapidly.
- Access to your Savings:Nobody can predict the future. If your circumstances change and you have a need for cash, you can encash your Plan for the full bid value of units without any surrender penalty after the second annual premium has been paid. Please remember that the value in early years is likely to be low as the Plan is designed for long-term capital gains. Alternatively, if you just want a small proportion of the capital you have built up, the Plan also gives you the facility to make partial withdrawals at any time whilst continuing to make contributions and keeping the Plan in force.
- Fund Acceleration Premiums:
This benefit acknowledges the fact that you may have surplus cash available at any point in your life. Invest 'n' Assure is a regular contribution plan but also gives you the flexibility to top-up your savings by depositing your surplus funds as lump sum contributions in the Plan. These lump sum payments, called Fund Acceleration Premium (FAP) can be made at policy commencement or at any policy anniversary. The FAP payments will increase the cash value of your Plan, but will not affect the sum assured.
- Investment with a ‘Safety Net’:
The moment you start saving with Invest 'n' Assure, you will enjoy a guaranteed level of life assurance protection. This cover means that should you die your dependents will receive:
- The basic sum assured or the cash value of the regular premium, which ever is greater, AND
- Any cash value of the FAP payments
Depending on the current stage of your life and your need for life assurance protection, the Plan offers you the facility of selecting a low to high level of sum assured at inception with the flexibility to alter this level as your circumstances change. This flexibility is available through the 'Protection Multiple'.
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The following illustration shows the expected cash values for a Plan taken out by a 35 year old Standard Chartered customer with an initial annual Basic contribution of Rs 75,000, Protection Multiple of 20 giving an initial sum assured of Rs 1,500,000, using the Company's standard unit growth rates projection:
| 6 % per annum unit growth rate |
|
|
| POLICY YEAR |
DEATH BENEFIT |
FUND VALUE |
| 5 |
1,500,000 |
313,648 |
| 10 |
1,500,000 |
822,561 |
| 15 |
1,541,815 |
1,541,815 |
| 20 |
2,529,794 |
2,529,794 |
| 8 % per annum unit growth rate |
|
|
| POLICY YEAR |
DEATH BENEFIT |
FUND VALUE |
| 5 |
1,500,000 |
330,028 |
| 10 |
1,500,000 |
912,976 |
| 15 |
1,814,427 |
1,814,427 |
| 20 |
3,162,252 |
3,162,252 |
| 10 % per annum unit growth rate |
|
|
| POLICY YEAR |
DEATH BENEFIT |
FUND VALUE |
| 5 |
1,500,000 |
347,132 |
| 10 |
1,500,000 |
1,013,790 |
| 15 |
2,138,248 |
2,138,248 |
| 20 |
3,971,376 |
3,971,376 |
Important Notes:
- The cash values given in the table are illustrated based on assumptions. The actual values can be higher or lower than the ones illustrated above depending upon the performance of the underlying investments in the EFU Managed Growth Fund. To give you an indication of the fund performance, the average annualised unit growth rate, net of charges, over the last 10 years has been in excess of 15 % per annum.
- The above cash values are inclusive of the Loyalty Bonus in years 11 (30 %), 16 (45 %), 21 (60 %).
- The death benefit and cash values can be further enhanced by payment of Fund Acceleration Premiums.
- A description of how the contract works is given in the policy Provisions and Conditions.
- Please refer to the ‘Key Fact Sheet’ for more details of the product.
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