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EFU Tahaffuz
Takaful

Personalized takaful for you

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Category

Faysal Bank Ltd. under distribution agreement with EFU Life Assurance Ltd. offers EFU Tahaffuz Takaful which is a Shariah Compliant Takaful solution that provides you and your family financial security in times of need. EFU Tahaffuz Takaful allows an element of customization with regards to the mode of payment, contribution amount, policy term and level of takaful coverage.

Following options are available under EFU Tahaffuz Takaful that you can select based on your needs;

Features

  • Lump-sum contribution of 10 years at inception

  • High level of allocations resulting in early break even

  • No Hassle of paying every year while still enjoying the benefits of a regular contribution plan.

  • While payment is only made for 10 years the coverage period can be enhanced up to 20 years.

  • High Bonus unit allocations that leads enhanced cash values

  • Higher level of Takaful Benefit which is sum of Cash values plus sum covered

Eligible Customers

Coverage Provided to

FBL Account Holders Only

Enrolment Age Limit

18 - 60 Years

Minimum Contribution

PKR 20,000 Per Annum

Coverages Details

The coverage term can be selected either 15 or 20 years; subject to the maximum age of 75 years.

It is the amount payable on death. The Sum Covered is determined as the Basic Plan Annual Contribution multiplied by the "Protection Multiple", which may be selected from a range depending on the age at entry as illustrated.

Age

Minimum

Maximum

18 – 35

5

35

36 – 40

5

25

41 – 49

5

15

50 – 60

5

10

61 – 65

5

5

Takaful Company Charges

Administration charge

Rs.150 per annum will be charged.

Investment Management Fee

1.5% per annum of the Fund Value will be applied.

Wakalat-ul-Istismaar Fee:

Year 1 : 40%, Year 2: 20%, Year 3 Onward: 10%,Year 4 onwards 0%

Bid Offer Spread

5% of all contributions allocated to the unit account

Takaful Contribution:

with reference to attained age and based upon the Risk profile & sum at risk, a monthly contribution is transferred into PTF (Waqf) from PIA. A portion 35% of Takaful Contribution will go to the Operator's Sub-Fund as PTF management fee

Mudharib’s Share:

30% p.a. on investment return of the WAQF

Claim Process

In case of an unfortunate event, you may file your claim intimation through any Faysal Bank Branch walk in, visiting the EFU Head Office

For a swift speedy process you may also call us at our call center (021-111-338-436) or simply visit our website, fill in the intimation form and email it to us at .

Disclaimer

  • This plan under any of the above-mentioned plan is underwritten by EFU Life - Window Takaful Operations. It is not guaranteed or covered by Faysal Bank Limited, Barkat Islamic Banking or its affiliates and is not a Faysal Bank, Barkat Islamic Banking product

  • Faysal Bank, Barkat Islamic Banking is only acting as a distributor/ corporate takaful agent of this Takaful policy on behalf of EFU Life - Window Takaful Operations

  • The past performance of the Funds Is not necessarily a guide to future performance. Any forecast made is not necessarily indicative of future or likely performance of the Fund and neither EFU Life­ WTO, nor Faysal Bank, Barkat Islamic Banking will incur any liability for the same. Please note that investment risk in the selected fund is borne by the Participant.

  • A personalized illustration of benefits will be provided to you by a representative. Please refer to the notes in the illustration for a detailed understanding of the various Terms and Conditions.

  • Taxes will be applicable as per the taxation Laws as stipulated by the relevant authorities

  • A description of how the contract works is given in the Participant Membership Documents. This product's brochure only gives a general outline of the product's features and benefits

  • If you have any grievance regarding your Takaful Policy, you may contact EFU Life Window Takaful Operations on (021) 111 EFU HEM(111 338 436) or for any service related complaints, you may call FBL Contact Centre at 111060606 or can contact your nearest branch.

EFU LIFE - WINDOW TAKAFUL OPERATIONS
Plot No. 112, 8th East Street, Phase I, DHA, Karachi, Pakistan.
Tel: (021) 111 EFU HEM (111 338 436)
Fax: (021)34537519

Frequently Asked Questions (FAQ's)

The participant should be between 18 and 60 years old (Age next birthday).

The coverage term can be selected between 15 or 20 years; subject to the maximum age of 75 years.

Total 10 contribution paid in lump sum at inception.

For the participants, the minimum contribution is 20,000.

Important Links

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