EFU Child Savings Plan:

By making small savings for your children, you will ensure that your children have enough money for all important phases of their lives. Most importantly, higher education is a turning point in their lives, because quality education provides them a foundation to climb the ladder of success. Being a parent, you want your children to get a quality education which helps them to become independent. For this purpose, we bring EFU Child Savings Plan, an investment-linked insurance plan that ensures the money you save for your children act as a safety blanket for them and they get the best education without any hurdle.

Opportunity for Growth:

Every premium paid towards the plan will be invested in one or two of the internal investment funds of EFU Life. It is completely your decision to choose the internal fund based on your investment objectives. You can select from the following unit funds mentioned below:

EFU Managed Growth Fund:

Fund Categorization: Balanced, Risk Profile: Medium:

An investment fund with a balanced investment strategy. It aims to achieve reasonable capital growth and steady returns with investment in government securities, carefully selected blue chip equities, and other fixed income securities and cash.

EFU Guaranteed Growth Fund*:

Fund Categorization: Money Market Fund, Risk Profile: Low

An investment fund providing steady returns with a guarantee that the bid price of the fund will never fall. It aims to achieve stable growth through investment in short term debt securities.

EFU Income Growth Fund

Fund Categorization: Income Fund, Risk Profile: Low

Investment fund providing steady returns. It aims to achieve consistent capital growth with investment in government securities and high-quality corporate debt.

EFU Aggressive Fund:

Fund Categorization: Aggressive, Risk Profile: High

An investment fund with the aim of investing in equities providing a higher rate of return. It aims to maximize capital growth by using investments with an aggressive market outlook.

Multiple Fund Option:

Under this option you have a facility to select a mix of two unit linked funds of the plan. Fund mix can be selected in multiples of 10%. It means that the funds split can be of 90/10, 80/20, 70/30, 60/40 or 50/50.

* EFU Guaranteed Growth Fund to be selected by default

Free Look Period/Cancellation/Surrender/Partial Surrender:

You have the right to cancel your insurance plan due to whatsoever reason. If you cancel your policy within 14 days from the date of the policy documents receipt, you are entitled for a full refund of premium less any medical or clinical examination expenses, if any, incurred by EFU Life for applying your Banca plan. Policy cannot be cancelled/ surrendered after completion of 14 days free look period and before payment of two annual premiums. Insurance policy can be surrendered after payment of atleast two annual premiums and you will be paid current cash value of underlying units in the policy (after deduction of applicable charges) which may be less than the total premium paid by you. You also have the facility of partial withdrawals that may be exercised by leaving a minimum balance (residual value) in the cash value.

Disclosure of Product

This is a life insurance product which has two distinct elements i.e., Insurance Protection and Investment. The Investment Component is linked to the performance of underlying assets under unit linked fund(s).

Benefits:

Continuation Benefit:

On death of life assured prior to the maturity of plan, the plan ensures that your child’s future remains secure by its Continuation Benefit. This is built into the plan and ensures that all future premiums are paid by EFU Life following the death of the life assured until the Plan’s maturity date. This means that the funds you had originally planned for your child will still be available for your children.

Maturity Benefit:

At the end of the Policy Term, while the policyholder is still alive, the maturity benefit payable will be

Built-in Income Benefit:

Under the built-in Income Benefit, the plan would ensure that a quarterly income is paid to the family in case of the unfortunate death of the life assured during the plan term. The customer has a choice of selecting any one of the three levels of income i.e.

The regular income can be used to pay for the expenses related to their continuing education and funds needed at the time of engagement or marriage of the child or for the support of the family.

Built-in Waiver of Premium:

In case the life assured is unable to follow any occupation due to the sickness or accident, the contribution would be paid by EFU Life.

Built-in Pilgrimage Benefit:

During the Plan term, if the life assured travels for religious pilgrimage, EFU Life offers coverage on death due to an accident while performing pilgrimage (Hajj, Umrah or Ziarat- religious journey etc.) The coverage under this built-in accidental benefit will be 100% of the Main Plan Sum Assured, subject to a maximum limit of PKR 100,000. This feature will be applicable for an additional period of 13 months from the date of maturity or from the date of full surrender.

Optional Benefits:

Accidental Death and Disability Benefit:

This rider provides an additional lump sum benefit in case of accidental death or disability.

Hospital Care Plus:

This rider will provide a daily benefit for each day of confinement in a hospital as a result of accident or sickness.

Lifecare Enhanced Benefit:

This rider provides a flexible benefit ranging from Rs. 50,000 to sum equivalent to main plan sum assured subject to a maximum of Rs.1.5 million, upon the diagnosis or the occurrence of any 20 covered critical illnesses.

Return of Premium:

The 'Return of Premium' rider is a unique benefit offered to prospective EFU Life customers. This rider enhances your coverage by giving you an extra benefit. In an unforeseen event of death of the life assured, the beneficiary will not only receive the death benefit, but will also be able to receive the total amount of paid premium excluding the premium paid for the ROP rider.

Unit Allocation:

The proportion of basic plan premium allocated to investment is as shown in table:

**An allocation charges will be deducted from the Paid Premium every year as per the above table and the remainder will be allocated to the account value.

Fund Acceleration Premium (FAP):

TThis is a regular premium but also gives the flexibility to top-up the savings by depositing surplus funds as lump sum premium in the plan. These lump sum premiums, called Fund Acceleration Premium (FAP) payment can be made at any time during the policy term. Minimum amount for FAP investment is 20,000.

Indexation:

Under this option, the regular premium will increase every year by 5% of the prior year’s premium till the age of 55 years, without any medical evidence.

Claim:

In case of an unfortunate event, you may file your claim intimation through your BOP branch walk in, visiting the EFU Head Office or by visiting any of the EFU branches in the country. For a swift speedy process you may also call at EFU call center (021- 111-338-111) or simply visit EFU website, fill in the intimation form and email it at cod@efulife.com Thereafter, you will be contacted for next steps.

Complaint:

In case of any grievance/ complaint related to this policy, you may contact your BOP branch, BOP helpline 111-267-200 or EFU Life at csd@efulife.com or at 111-338-111.

FAQs:

Who can apply and what are the limits of plan?

Minimum savings term is 10 years and maximum is 25 years, subject to a maximum age of 75 years. This plan is available for all individuals aged between 18 and 65 years on next birthday.

What is the minimum Premium requirements?

Minimum annual basic plan premium is Rs. 20,000/- annually.

What are the charges?

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