IQRA Education Insurance Plan is a unit-linked product through Jubilee Life Insurance, providing you an excellent vehicle for savings and investments with vital protection against the tragic incidents of life.

This how the plan works in different 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.

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Let us draw an example:

• Your age: 28 Years
• Your child's age: 1 year
• Monthly premium: PKR 5000
• Goal: to send him/her to a reputed university in 20 years time.
• Term of the plan: 20 years
• Assuming 8%, 10% and 12% annual unit growth rates

Estimated workings of the insurance plan:

The illustration above is not the product; it is the anticipated projection of future benefits.

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 Jubilee Life Insurance Managed Fund.
• Unit growth rate is assumed on 8%,10% and 12%
• Unit Linked Life Insurance Products are different from traditional insurance products and are subject to the risk factor.
• The premiums paid in Unit Linked Life Insurance Policies are subject to investment risks associated with capital markets and the NAVs of the units may go up or down based on the performance of funds and factors influencing the capital market and the insured is responsible for his/her decisions.
• New Jubilee Insurance Company Limited is only the name of the insurance company and Iqra only the name of the unit linked life insurance contract and does not in any way indicate the quality of the contract its future prospects or returns.The fund offered under this contract is the name of the fund and do not in any way indicate the quality of this plan, the future prospects and returns.
• Service charges and taxes will be applicable incase of being stipulated by the relevant authorities.
• Past performance of funds is not necessarily a guide to future performance. Any forecast made is not necessarily indicative of future or likely the performance of the funds.
• The products is not guaranteed or insured by Standard Chartered Bank (Pakistan) Limited product.