Having some wealth behind you not only provides you financial security but also gives you the financial liberty to achieve your motivations in life. Jubilee Life in support with National Bank of Pakistan offers you Jubilee Insurance Bachat Plan, Making Saving Easy For You. Together with life insurance safety, this plan will help you save on regular basis so that you may have financial security and attain your desires in life. Decide the amount of contribution (Premium) you would make. You can pay premium Yearly, Half-Yearly and Quarterly.
With very simple eligibility criteria you can avail Jubilee Insurance Bachat Plan, if you are 18 years to 65 years old, you are eligible to avail the Jubilee Life Insurance Bachat Plan. The available term range is 10 years to 57 years (subject to Maturity at 75 years). Jubilee Bachat Plan is exclusively planned to collect funds on a regular basis while providing life insurance protection. The funds collected through the plan may be used for purchase of a house, growing business, retirement income or any other purpose you want.
Jubilee Insurance Bachat Plan is a flexible plan that gives you the facility to select the Sum Assured of your choice. You can control the Sum Assured by multiplying your annualized basic premium amount by the selected cover multiple (offered from 5 to 254) depending on your savings and insurance requirements. For example: if your annual premium influence is Rs: 25,000 and you have selected a cover multiple of 10, your total sum assured would be Rs: 25,000 x 10 = Rs: 250,000.
The maximum sum assured that can be selected under Bachat Plan is up to the maximum cover multiple limits i.e. 254 (subject to limits defined by the Insurance Company). If the life assured dies during the term of the plan, his/her Beneficiaries will be eligible to the sum assured, or the cash value, whichever is higher.
At the end of the term of the plan, the policy holder will receive the cash value collected during the term of the plan. The premium can be paid yearly, half yearly or quarterly.
Your contributions will be invested in the fund(s) of your choice (Managed, Meesaq, Capital Growth or Yaqeen Growth Fund) which are managed by expert investment managers and backed by premium financial securities to ensure optimized returns with manageable risk exposure. Your contributions will earn investment returns during the term of the plan. At the end 01 the chosen term, you will receive your accumulated cash
value as a lump sum.
Under Jubilee Insurance Bachat Plan, you have the flexibility to withdraw the cash value of your fund(s) – (either fully or partially) provided you have paid premiums in full for two years at the end of which you have the following options:
1: PARTIAL WITHDRAWAL
If you need to withdraw your cash value for meeting some emergency needs, but do not want to surrender the policy, you can withdraw any amount (subject to minimum withdrawal amount prescribed by Jubilee Life Insurance) after two policy years and after making two premiums payments – provided that the remaining cash value of your policy after withdrawal is greater than or equal to Rs. 24,000. The residual value floor may be reviewed by the company The Sum Assured may be reduced by the amount of the Partial Withdrawal.
2: FULL POLICY SURRENDER
After the completion of two policy years, given that two years’ full premiums have been paid, you can surrender your policy. At the time of surrender, you will be paid the accumulated cash value of your fund. However, surrender in early policy years may result in low cash values. For complete details, package you may visit and DOWNLOAD PDF file.
In case of complaint or further details, please contact:
NATIONAL BANK OF PAKISTAN
Head Office: NBP Building. I.I Chundrigar Road, Karachi – 74200, Pakistan
Tel: (021) – 99220100-30
Toll Free: 0800-11627
JUBILEE LIFE INSURANCE COMPANY LIMITED
Head Ofï¬ce: 74/1 -A, Lalazaar, M.T.Khan Road,
Karachi – 74000, Pakistan
Tel: (021)-35205094-95 Fax: (021)-35610959
Email: email@example.com – firstname.lastname@example.org
UAN: (021) – 111-111-554 SMS: “JUBILEELIFE” to 8398