Avail of the unique benefits attached to Tahaffuz:

• Early Retirement:
  Tahaffuz offers an added sense of security through this option. At the start of the plan, customer may opt for a retirement age between the age of 60 and 70 years. But there may be an emergency that requires one to dip into the retirement accumulation and hence the 'early retirement' option is available. This option starts from age 45 years and is available up to age 60 years.
  At 'Early Retirement' the customer may withdraw 25 % of the retirement fund in lump sum and use the remaining 75 % to buy a pension stream of his choice. This option can be availed five years after the policy inception.
• Unit Accumulation and Investment Fund:
  Every contribution in Tahaffuz is invested in an internal investment fund of EFU Life called the 'EFU Managed Growth Fund'. The contributions are utilised to buy units of the fund at the prevailing offer price. 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.
• Income Linked Adjustment:
  Tahaffuz takes into account the fact that the income of the assured customer will increase with time due to career progression as well as inflationary factors. Thus one can plan by starting the Retirement Plan with a lower annual contribution and increase it over the term of the plan.
  The plan gives an option to the customer to increase his annual contribution every 3 years by 25 %.
  The increasing contribution will ensure that the fund value accumulates at a faster pace and the fund available at retirement is sufficient to provide a higher monthly pension. The increasing premium will not affect the sum assured.

• Investment with a 'Safety Net':
  The moment one starts saving with Tahaffuz, one will enjoy a guaranteed level of life assurance protection. This cover means that in case of death the dependents will receive:
  The greater of the sum assured or the cash value of the plan at the date of death, AND any cash value of the FAP payments.
  Depending on the current stage of one's life, and the need for life assurance protection, the plan offers the facility of selecting a low to high level of sum assured at the inception, with the flexibility to alter this level as one's circumstances change.
• Guaranteed Loyalty Bonus:
  Tahaffuz offers generous loyalty bonuses in the form of extra units in the fund, if it is continued without any breaks beyond a period of 10 years. The bonus is allocated to the plan every 5 years and will increase the underlying accumulated fund value rapidly.
• Fund Acceleration Premium:
  Tahaffuz is a regular contribution plan, but also gives the flexibility to top-up the savings by depositing surplus funds as lump sum contributions in the plan. These lump sum contributions, called ‘Fund Acceleration Premium’ (FAP) payments, can be made at any policy anniversary. The FAP payments will increase the cash value of the plan, but will not affect the sum assured.

• Access to Saving at all times:
  Tahaffuz 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.
• Minimum Premium:
  The minimum annual regular contribution for Basic Plan is Rs 15,000.
• Age Eligibility:
  The minimum and maximum ages at entry are 18 and 60 years respectively.
• Retirement Age:
  Tahaffuz is an open ended, whole of life plan, giving the flexibility of selecting the retirement age according to one’s needs. Generally the fund value can be withdrawn between ages 60 and 70, to provide the necessary retirement funds and pension.
• Additional Benefits:
  Various additional benefit riders are available, which may be attached to the basic plan to enhance the coverage level. These riders are:
  • Additional Term Assurance
  • Accidental Death and Disability Benefits
  • Family Income Benefit
  • Lifecare Benefits
  • Waiver of Premium

The assured customer’s age is 30 years, and he decides to contribute Rs 100,000 per annum, with a Protection Multiple of 20, giving a Sum Assured of Rs 2,000,000 in Tahaffuz.

The first table below gives details of the fund value, while the second table gives details of the expected annual pension amount payable to the customer in lieu of the fund value at ages 60, 65 and 70 years.

Important Notes:

• The cash values given in the table are estimated based on assumptions. The actual values maybe higher or lower than the ones shown above, depending upon the performance of the underlying investments in the EFU Managed Growth Fund.
• The above cash values take into account Loyalty Bonus Allocations.
• These cash values may be enhanced by Fund Acceleration Premiums.
• The cash values have been worked out at assumed investment growth rates of 6%, 8% and 10% per annum.

• At the retirement age, the fund value may be applied to provide the Annual Pension. The annual pension is payable for a guaranteed period of 10 years and thereafter for as long as the assured lives. The amount of annual pension is an illustrated figure, based on assumptions and the actual amount will depend on the investment climate, prevailing at the time when the pension is purchased.
• Certain charges apply on the policy; please refer to personalized illustration of benefits for details.
• A description of how the contract works is given in the Policy Provisions and Conditions. This brochure gives a general outline of the product. The above figures are indicative and for illustration purpose only.
• Services charges and taxes will be applicable as per the Bank’s Schedule of Charges or Taxation Laws as 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 performance of the funds.
• 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.

This product is underwritten by EFU Life Assurance Ltd.