Kafalat Gold
Product Description
Kafalat Gold is a regular contribution, Unit Linked plan where the investment benefits are largely linked to the Participants Investment Fund(PIF).
Eligibility Criteria
Age between 18 to 65 years
Death benefits
Benefit paid in case of death is: SUM COVERED + surplus if any from WAQF Fund + Cash Value from PIF
Tenure
The minimum plan term is 10 years and the maximum plan term is subject to maturity age of 85 years.
TOP-UP Contributions
The ‘participant member’ has the option to make an additional single contribution at any time during the membership term. Minimum top-up contribution amount is Rs.15000/- The charges deducted from the top-up contribution are 5% once
WITHDRAWAL
Three options are available;
- Permanent Withdrawal Permanent Total cash value plus surplus from IFTPF is payable. This can be done at anytime during the policy term. There are no surrender charges.
- Partial Withdrawal Partial withdrawals are allowed after 1 year from Commencement date, subject to Rs.25000 or 20% of the value of PIF (whichever is higher) remaining in PIF. This may be done monthly, quarterly, half‐ yearly or annually. Minimum amount for partial withdrawal is Rs.15000.
- Regular Withdrawal Partial withdrawal has no frequency whereas regular withdrawal has frequency
SUPPLEMENTARY BENEFITS
- Accidental Death Benefit (ADB) Hospital Daily
- Allowance (HDA)
FUNDS
Three options are available;
- Aggressive Fund
- Balanced Fund
- Conservative Fund
Charges
- Admin Fee Rs. 140/- This charge is to be increased by 8% per annum.
- Investment Management Fee 1.5 % of NAV / annum
Note: * Terms & conditions allowed.
