Single Premium / Contribution Plans
Investment with an element of protection
FOR INDIVIDUAL
For Companies
Investment with an element of protection
Single Premium/Contribution is an investment and life coverage product, focusing on investments by providing a wide range of fund options, along with coverage
Enjoy full allocation of funds without any upfront charges in most of the products.
Access a variety of funds in a range of currencies and invest in a portfolio that suits your attitude to risk.
Offers generous loyalty bonus in the form of extra units.
Riders available to increase protection or to reduce management fee
Bunyaad is a single premium investment product which provides a natural and/or accidentals death benefit and investment benefit. Under this plan, your funds are managed by experts for maximum risk, through portfolio diversification.
Benefits:
|
Charges:
|
|
|---|---|
| Bid/offer spread: | 5% of Total Premium |
| Investment Management Charge: | 0.125% p.m of the Fund Value will be applied. |
| Mortality Charges: | Variable – Depending on Age, Profession, Health, Sum Assured |
| Processing Fee: | (PKR) 500 on each Partial Surrender and Complete Surrender |
| Mortality Charges: | Variable – Depending on Age, Profession, Health, Sum Assured |
| Processing Fee: | (PKR) 500 on each Partial Surrender and Complete Surrender |
| Fund Switching Fee | 1st switch is free, PKR 500 is charged upon each subsequent switch |
| Full/Partial Surrender Charges | First year and second year: 1% of the surrender or partial surrender amount. |
Returns (as per Fund Manager’s Report):
|
Fund
|
CYTD
|
CY20
|
CY19
|
CY18
|
CY17
|
|---|---|---|---|---|---|
| EFU Managed Growth Fund | 3.47% | 15.40% | 4.13% | -2.26% | -5.82% |
| EFU – Guaranteed Growth Fund | 5.71% | 8.73% | 10.25% | 5.09% | 4.47% |
InvestPro is a unique investment & protection plan that provides you hassle free one-time investment option. It allocates 100% of your amount into investment & gives you the freedom of creating your own investment mix, from the available multiple Investment Strategies, as per your risk appetite, while the protection feature of the plan provides you life insurance coverage from the moment you invest in the plan
Benefits:
|
Charges:
|
|
|---|---|
| Bid/offer spread: | Nil |
| Investment Management Charge: | 0.15% of account value per month (Year 1 – 3), 0.125% of account value per month (Year 4 onwards) |
| Surrender Charge: | 5% – 1st Year, 3% – 2nd Year, Nil 3rd Year Onwards |
| Mortality Charges: | Variable – Depending on Age, Profession, Health, Sum Assured |
| Processing Fee: | (PKR) 300 on each Partial Surrender and Complete Surrender |
| Fund Switching Fee: | PKR 300 per switch |
Returns (as per Fund Manager’s Report):
|
Fund Name
|
CYTD
|
CY20
|
CY19
|
CY18
|
CY17
|
|---|---|---|---|---|---|
| IGI Balanced Fund | 6.20% | 4.04% | 12.05% | -2.70% | -1.14% |
| IGI Secure Fund | 4.06% | 11.35% | 13.50% | 5.23% | 6.90% |
| IGI Aggressive Fund | 0.44% | 5.30% | 11.69% | -5.48% | -8.46% |
Al Mal Takaful is a single contribution plan that provides you investment as well as protection. The plan is designed to offer investment opportunity in a Shariah compliant way along with affordable takaful benefits and transfers 100% paid contribution in to participants account value without any upfront charges. It also gives you the freedom of creating your own investment mix, from the available multiple Investment Strategies, as per your risk appetite.
Benefits:
|
Charges:
|
|
|---|---|
| Bid/offer spread: | Nil |
| Wakalat-ul-Istismar Fee: | 0.15% of account value per month (Year 1 – 3), 0.125% of account value per month (Year 4 onwards) |
| Unit Redemption Fee: | 5% – 1st Year, 3% – 2nd Year, Nil 3rd Year Onwards |
| Mortality Charges: | Variable – Depending on Age, Profession, Health, Sum Assured |
| Processing Fee: | (PKR) 300 on each Partial Surrender and Complete Surrender |
| Fund Switching Fee: | PKR 300 per switch |
Returns (as per Fund Manager’s Report):
|
Fund Name
|
CYTD
|
CY20
|
CY19
|
CY18
|
CY17
|
|---|---|---|---|---|---|
| IGI Takaful Balanced Fund | 2.61% | 5.74% | 9.47% | -1.68% | -3.46% |
| IGI Takaful Conservative Fund | 5.55% | 7.77% | 9.24% | 4.94% | 1.81% |
| IGI Takaful Aggressive Fund | -1.02% | 3.63% | 9.28% | -4.83% | -7.62% |
Bunyaad is a single premium, universal life insurance plan developed to help ensure that customers receive a return competitive to a savings account.
Basic Features
Return Methodology: Every month the account value of the policy will be credited by an interest amount which will be based on the Crediting Rate declared by IGI Life. Crediting Rate is an annual rate that will be declared based on the performance of IGI’s Pakistan Treasury Bills portfolio. However, the Crediting Rate declared each month shall not be lower than the Minimum Guaranteed Crediting Rate (MGCR) calculated for that month.
The MGCR applicable for a month will be calculated basis the formula below:
MGCR = SBP Mandated Savings Floor * (100 – Withholding Tax Rate)%.
Where,
SBP Mandated Savings Floor = Current Policy Rate as declared by State Bank of Pakistan (SBP) less haircut as per SBP
Withholding Tax Rate = Current tax rate applicable on bank profits (currently at 15%)
The MGCR may vary during the policy year if there is a change in any of the variables in the formula stated above.
Vitality Integrated Benefit: Policy holders who are Members of IGI’s Vitality Active Program will also be entitled to receive an Integrated Benefit depending on their Vitality Status at the start of the month. The Integrated Benefit will be an increase in the Crediting Rate as shown in the table below:
|
Bronze
|
Silver
|
Gold
|
Platinum
|
|---|---|---|---|
| Crediting Rate | Crediting Rate + 0.25% | Crediting Rate + 0.5% | Crediting Rate + 0.75% |
|
Charges
|
Details
|
|
|---|---|---|
| Full/Partial Surrender Charges | Policy Month | Charge (as % of actual interest credited) |
| 1 – 3 | 100% | |
| 4 onwards | nil | |
| Mortality Charges | Per annum charge on basic premium dependent on client’s sum assured and age. | |
| No other charges are applicable on this product | ||
Historical Return Disclosure Documents
The contents of this webpage are for general information only and do not constitute an offer, recommendation or solicitation of an offer to enter into a transaction or adopt any hedging, trading or investment strategy, nor does it constitute any prediction of likely future movements in rates or prices or any representation that any such future movements will not exceed those shown in any illustration.
It has not been prepared for any particular person or class of persons and it has been prepared without regards to the specific investment objectives, financial situation or particular needs of any person. You should seek advice from a financial adviser on the suitability of the product for you, taking into account these factors before making a commitment to purchase the product. In the event that you choose not to seek advice from a licensed or an exempt financial adviser, you should carefully consider whether this product is suitable for you.
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