Insurance Solutions

Saving Plus

Do you want to protect the future of your loved ones? Your answer will undoubtedly be “YES”, but how?

Faysal aikFaisla

Saving Plus provides you a solution which protects you from uncertainties of Life with regular savings and helps you in achieving your long term financial goals

With Faysal aikFaisla Saving Plus

  • You have the power to choose your Life Insurance cover based on your protection and saving needs.
  • You can avail an attractive feature of Joint Life coverage which will not only provide life insurance protection to you but also to your family member. Under this option, the death benefit will be payable upon the unfortunate death of either of the lives assured, whichever occurs first.
  • You have the freedom to beat Inflation by selecting an option of Indexation (Increase your basic premium / Sum Assured by a fixed amount, equal to 5% of initial basic premium / sum assured, every year).
  • You will enjoy Guaranteed Loyalty Bonuses on various intervals which will be in addition to the basic allocation of units.
  • Your contributions will be invested in Jubilee Life Managed Fund. This Fund is being managed by expert investment managers and backed by premium securities to ensure optimized returns with reasonable risk exposure.

Life Insurance Coverage

Saving Plus is a Life Insurance plan that gives you the flexibility to enhance your savings while giving you the benefit of Life Insurance Protection against future uncertainties. It gives you the flexibility to choose your desired sum assured in terms of multiples of your basic premium (Cover Multiples are available from 10 – 254 depending on the ages of the life / lives assured). If the life assured expires during the term of the plan, the nominee will get the Sum Assured or the accumulated Cash value (whichever is higher).

Maturity Benefit

At the end of the plan term, the policyholder will receive the Cash Value of the policy.

Allocation Percentages

Your basic premiums towards Saving Plus are allocated to your unit account as follows:

Policy Year

Percentage of premium allocated to unit account

1st year 30%
2nd year 80%
3rd year Onwards 100%


Guaranteed Loyalty Bonus

Saving Plus provides you an attractive Loyalty Bonus structure which will be in addition to the basic allocation of units, thereby helping you to grow your savings.

Policy Year

Extra Unit Allocation (as a % of basic plan premium)

6th year 10%
11th year 20%
15th year 50%
20th year 70%
25th year 80%


Adhoc Premiums

You may make extra contributions to your plan at anytime in addition to the regular premiums. Saving Plus allows you to add these contributions on top of your existing premium so that you can enhance your Cash Value. This will not affect the life insurance cover.

Optional Benefits

Accidental Death Cover

An additional amount will be paid under this benefit in case death occurs due to an accident.

Critical Illness Benefit

Advances the benefit payable on death, in case the life assured is diagnosed with any of the pre-specified critical illnesses.

Family Income Benefit

To meet recurring expenses, an additional regular income will be paid until the expiry of a defined period in case of death.

Waiver of Premium

The premium from the next premium due date will be waived, if the life assured suffers an illness or disability and is not able to follow his / her own occupation or any other occupation suited by knowledge, training or education for at least six months.

Accidental Death or Dismemberment

An additional amount will be payable in full under this benefit in case death occurs due to an accident. In case of dismemberment, full or partial amount may be payable depending on the nature of dismemberment.

Permanent Total Disability

Advances the benefit payable on death, in case the life assured suffers permanent total disability.

Hospitalization Cash Rider Benefit

A daily benefit (up to 3,000) is paid if the life assured is confined to a hospital. The payable benefit is doubled in case of hospitalization due to any of the specified critical illnesses, or in case of confinement to ICU, an additional 50% of the benefits will be payable.


In the case of Joint Life Plan, the following optional benefits are available to second Life Assured:

  • Accidental Death or Dismemberment
  • Hospitalization Cash Rider
  • Accidental Death


In addition to reduced allocation in initial years, the following charges are applicable on the plan:

  • An investment management charge of 1.5% p.a. of Fund Value
  • Administration Fee of Rs. 45 per month
  • 5% bid-offer spread
  • Mortality Charges, for one or both (if joint life coverage) persons
  • Optional Benefit charges, if selected

* All charges are reviewable by the Insurance Company


This plan is available to all Faysal Bank customers aged between 18 to 65 years.

Term of Plan

Minimum Term: 10 years
Maximum Term: 25 years subject to a maximum age of 75 years of the life / lives assured at maturity.

Payment Frequency

Annually, Semi Annually, Quarterly or Monthly
All payments are automatically deducted from your bank account with Faysal Bank Limited

Premium Limit

Minimum: Rs. 24,000/- annually
Maximum: No Limit

Partial Withdrawal

You can partially withdraw your allocated funds from the policy after the completion of initial two years in which you have on time made full premium payments. This will be subject to minimum residual cash value determined by the Company (residual cash value floor is reviewable by the insurance company).

Policy Surrender

After the completion of two policy years in which you have made on time full premium payments, you can surrender your policy. At the time of surrender, you will be paid in full the Cash Value of your fund there will be no Surrender Value in the first two years. After two years, it will be equal to the Cash Value of the policy. However, surrender in early policy years may result in Lower Cash Values.

Sample Illustration

Faysal aikFaisla Saving Plus – FOR SINGLE LIFE

  @7% p.a. Gross Investment Return

Policy Year

Death Benefit

Surrender Value


2,400,000 223,000


2,900,000 632,000


3,400,000 1,265,000


3,900,000 2,130,000


4,400,000 3,302,000

  @9% p.a. Gross Investment Return

Policy Year

Death Benefit

Surrender Value


2,400,000 235,000


2,900,000 699,000


3,400,000 1,471,000


3,900,000 2,630,000


4,400,000 4,380,000

  @11% p.a. Gross Investment Return

Policy Year

Death Benefit

Surrender Value


2,400,000 247,000


2,900,000 773,000


3,400,000 1,715,000


3,900,000 3,265,000


5,825,000 5,825,000

First Life Assured Age: 30 years
Second Life Assured Age: Not selected
Gender: Male
Policy Term: 25 years
Basic Premium: PKR 50,000/- annually
Rider Premium: PKR 2,500/- annually
Total Premium: PKR 52,500/- annually

Life Insurance Cover: PKR 2,000,000/

– (40 multiples of annual basic premium)
Accidental Death Cover: PKR 2,000,000/-
Indexation: 5% flat every year


  • There will be no Surrender Value in the first two years. After two years, it will be equal to the Cash Value of the policy.
  • Death Benefit is Sum Assured or Cash Value, whichever is higher. For illustration purpose, it is assumed that death occurs at the end of the year.
  • Maturity Benefit is the prevailing Cash Value at the time of maturity.
  • The cash values given in the sample illustration are estimated based on certain assumptions. The actual values may be higher or lower than the ones shown above, depending upon the performance of the underlying investments in the Jubilee Life Managed Fund, level of charges etc.
  • The above cash values take into account the basic unit allocations and guaranteed loyalty bonus allocations.
  • The rate of return assumptions (7%, 9% and 11% per annum) mentioned in the tables above are before deduction of the fund management charges. These charges have been deducted from the rate of return assumption prior to determining the illustrative values in the table above
  • A description of how the contract works is given in the Policy Documents. This brochure gives a general outline of the product. The above figures are indicative and for illustration purposes only.
  • There may be additional service charges and taxes which will be applicable as per the Bank’s schedule of charges or Taxation laws as stipulated by the relevant authorities.
  • Past performance of the fund is not necessarily a guide to future performance. Any forecast made is not necessarily indicative of the future or likely performance of the fund.
  • This product is not guaranteed or insured by Faysal Bank or their affiliates and is not a Faysal Bank product.
  • This product is underwritten by Jubilee Life Insurance Company Limited.
  • The bank is only acting as a distribution of the Policy on behalf of the Insurance Company.

Free Look Period

Jubilee Life offers a free look period of 14 days during which you can review your policy terms and conditions and cancel the policy if needed. Your premium will be refunded on receipt of written request within 14 days from the date of receipt of the policy document. Please note that Jubilee Life reserves the right to deduct the expenses incurred on medical examination.

Where can I get information about Jubilee Life’s Fund unit prices?

Unit prices of Jubilee Life’s Fund(s) are published in all leading dailies and on the Jubliee Life website: