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Insurance can provide you with financial protection. It can help you maintain your lifestyle in the event of serious illness or accident. It can enable your loved ones to pay their expenses if you can no longer provide for them. It can be used to maintain your financial goals that you are anticipating later in life such as your children’s education or your retirement. It can shield you from losses if you experience an unexpected event like a fire or theft.

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Takaful is a system of Islamic insurance based on the principle of TAAWUN (mutual assistance) and TABARRU (voluntary contribution), where the risk is shared collectively by the group. It is operated on the basis of shared responsibility, solidarity and mutual cooperation, which provides mutual financial protection and assistance to safeguard participants against a defined risk.

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  • InvestPro is a hassle free, single premium investment cum protection plan. In InvestPro 100% of your single premium is allocated to account value. Most importantly it gives you the option of choosing your own mix of investment strategy from the available multiple investment strategy option.
  • Secure & Sustain is a multipurpose savings plan specially designed to help you make regular, systematic savings, and protect your family from future uncertainties. It gives you and your family the much needed comfort and helps you meet your long-term financial objectives. With life insurance cover, Secure & Sustain gives you the freedom of creating your own investment mix, from the available multiple Investment Strategies, as per your risk appetite.
  • Invest n Assure takes each step in life, your role and responsibilities change. Whether you are at the beginning of your career, have just started a family, require funds for your children’s education or marriage or would like to plan for your retirement, you need to have a financial planning tool which can respond to your changing circumstances and at the same time provide you sufficient funds to fulfil your and your family’s needs.
  • Bunyaad investment may turn out to be good investment, as no one can predict the future. Intelligent investment of your hard-earned money can go a long way in ensuring a bright future for you and your family. As you take each step in life, your role and responsibilities change. Whether you are at the beginning of your career, have just started a family, require funds for your children’s education or marriage or would like to plan for your retirement, you need to have a financial planning tool which can respond to your changing circumstances and at the same time provide you sufficient funds to fulfil your and your family’s need.

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  • Al Mal Takaful is a Single Contribution Takaful plan, designed to serve as a financial planning tool and also provides sufficient funds to fulfil the medium term financial needs of the enrolled customer and their family members.
  • Wadiah Takaful is Shariah compliant regular contribution unit linked Takaful saving plan with protection element, which is designed to serve as a financial planning tool and also provides sufficient funds to fulfil the long term financial needs of the customer and his/her family members.
  • Zaman Takaful is Shariah compliant regular contribution unit linked Takaful saving plan with protection element, which is designed to serve as a financial planning tool and also provides sufficient funds to fulfil the long term financial needs of the customer and his/her family members.

Returns (as per Fund Manager’s Reports)

Product Names
Fund Names
CY till March’21
CY20
CY19
CY18
CY17
Invest n Assure Bunyaad EFU Managed Growth Fund 1.25% 15.40% 4.13% -2.26% -5.82%
EFU – Guaranteed Growth Fund 1.45% 8.73% 10.25% 5.09% 4.47%
Zaman Takaful EFU Takaful Growth Fund 1.19% NA NA NA NA
EFU Takaful Conservative Fund 4.36% NA NA NA NA
Invest Pro
Secure and Sutain		 IGI Balanced Fund 0.80% 4.04% 12.05% -2.70% -1.14%
IGI Secure Fund 7.20% 11.35% 13.50% 5.23% 6.90%
IGI Aggressive Fund 1.16% 5.30% 11.69% -5.48% -8.46%
Wadiah Takaful
Al Mal		 IGI Takaful Balanced Fund 1.37% 5.74% 9.47% -1.68% -3.46%
IGI Takaful Conservative Fund 4.92% 7.77% 9.24% 4.94% 1.81%
IGI Takaful Aggressive Fund 0.71% 3.63% 9.28% -4.83% -7.62%

Insurance is an arrangement by which a company or the state undertakes to provide a guarantee of compensation for specified loss, damage, illness or death in return of payment of specified premium. Additionally, it can also be used to plan for long term expenses (retirement or education etc.).

Bancassurance is an arrangement between a Bank and an insurance company allowing to sell insurance products to the bank’ s client base.

Takaful is based on the Islamic principles of Mutual Assistance (Ta’awun) and Gift (Tabarru) where the risk is shared collectively and voluntarily and members of group or participants who agree to jointly guarantee amongst themselves protection against loss or damage to any of them as defined in the agreement. Additionally, it can also be used to plan for long term expenses (retirement or education etc.).

Bancatakaful is an arrangement between a Bank and Takaful company allowing to sell takaful product to the Bank’s client base.

Regular premium/contribution is a type of insurance/takaful in which amount is paid at particular time intervals such as monthly or annually for insurance/takaful coverage.

Single-premium/contribution is a type of insurance/takaful in which a lump sum of money is paid into the policy in return for insurance/takaful coverage.

An investment-linked plan is a life insurance/takaful plan that combines investment and protection. The premiums/contributions that you pay, provide you not only with life insurance/takaful cover but part of the premiums/contributions are also invested in funds.

A non-investment linked plan is insurance/takaful that provides coverage in exchange of premium/contribution and such premium/contribution is considered as charge by the insurance provider, as they are not being invested in funds.

Some of the major benefits of investing in Bancassurance/Bancatakaful are:

  • Life & Risk Coverage
  • Access to small investors
  • Diversification of portfolio
  • Long Term Savings
  • Professional fund management
  • Tax benefits

Yes. If the fund at the back of product is not capital guaranteed, the investor can have both capital gain or loss on their invested amount.

Yes. There is no capital guaranteed fund in Islamic Products. Therefore, the investor can have both capital gain or loss on their invested amount.

No, SCBPL only acts as a distributor for insurance/takaful products.

Investment in insurance/takaful products, provides tax benefit by allowing the policy holder to avail tax credit (as per Income Tax Ordinance, 2001).

It is the fee charged by fund house for managing the fund. It is calculated as a percentage of account value.

Front-end load is a charge applied by the provider at the time of initial purchase of a policy. It is deducted from the initial amount, and as a result, lowers the size of the investment.

Back-end load is a charge applied by the provider when withdrawing from a policy. The fee is calculated as a percentage of the redemption amount.

Mortality Charge is the amount charged every year by the insurance/takaful provider to provide life cover to the policyholder on the life of the Life Insured/Covered.

Standard Chartered Bank (Pakistan) limited is only a ‘Distributer’ of these products and does not offer Takaful advice, nor does it underwrite or issue Takaful policies. Takaful products are underwritten by third party Takaful Operator. An early termination of the policy usually involves surrender charges as mentioned in the product documentation/ T&C. In some instances of surrender, the returns you may receive could be less than the Contribution you have contributed or a potential loss in your principal amount. Standard Chartered Bank (Pakistan) Limited shall not be responsible for Takaful Operator’s actions or decisions, nor shall be liable regarding payment of claims or services under the participant membership document or in any manner whatsoever regarding your application or the contract of Takaful. This webpage is for general information only and it does not constitute an offer, recommendation and/or solicitation to enter into any transaction.

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