Tameer Education Plan

Children are the most precious blessings of God. Every parent strives to provide their little ones a perfect life and give them all that they desire. The increasing cost of giving your son quality education or your daughter her dream wedding requires you to have a financial plan well in advance.

Contributions made towards the plan are invested in various investment vehicles including equities, fixed interest instruments, bonds and other money market instruments. Diversification is achieved by selecting mix of instruments in order to optimize the returns. Funds are managed by a team of expert investment managers, who adjust the investment mix in light of economic conditions, market trends and investment opportunities.

  • Investment Secure Fund: Is a moderate to low risk profile fund that generates stable and secure returns by balancing the investment in long term money market investments where up to 100% can be invested in PIB’s, T-Bills and fixed income instruments with the balance in cash.
  • Investment Multiplier Fund: is a moderate to high risk profile fund that generates higher returns over the long run with a mix of investments of up to 60% in equity type investments and up to 100% in a mixture of PIB’s, T-Bills and fixed income instruments with the balance in cash.
  • Amaanat (Islamic) Fund: is an Islamic open-end asset allocation/ investment fund, which seeks to achieve its objective of stable yet aggressive returns through investing in a portfolio of shariah compliant investments diversified through the capital market. The fund primarily invests in high quality SUKKUK/ Islamic bonds (60%), strong shariah compliant equities (30%) and the balance in cash (10%) offering higher comparative returns.

You are entitled to two initial free fund switches at any time during every plan year and each subsequent switch would be charged at Rs.300

Basic Premiums are allocated as per the schedule shown below

Year % of basic premium allocated to Unit account Surrender changes as % of unit account value
1 40% 100%
2 85% 50%
3 onwards 100% Nil

Cover Multiple of Basic Premium:

Minimum Cover Limit: 5
Maximum Cover Limit: 200

Note: Additional benefits are subject to Term & Conditions

  • Saving Booster Ad-hoc Premium You can enhance the growth of your savings through Saving Booster by depositing minimum payment of Rs.10,000 (over and above the regular premium) into your plan. Saving booster payment will be allocated at 103% in the unit account and can be made & withdrawn anytime during the plan term to boost your accumulated cash value.
  • Continuation Bonus As you continue the plan for longer term you will gain the higher rewards in terms of Continuation Bonuses. The extra units will be allocated to your account value. This extra units’ allocation is in addition to the basic units of allocations. The Continuation Bonus allocation is as follows.

Policy Year Continuation Bonus Unit Allocation as % to Basic Premium to Account Value
05 10%
07 25%
10 100%
15 100%
20 100%
  • Free Look Period The plan offers free look period of 14 days, in which you can cancel your policy by contacting Adamjee Life and get your premium refunded. However, as per law Adamjee Life reserves the right to deduct expenses incurred on medical examinations of the life assured in connection with the issuance of this policy.
Policy Fee NIL
Management (& Administration) Charge An annual charge of 1.75% of the Cash Value deducted on a monthly basis.
Bid/Offer Spread 5% of all premiums allocated to the Unit Account
Surrender Charge/ Partial withdrawals The first two switches in a Policy Year are free. A charge of Rs. 300 will be made for any further switches in that Policy Year.
  • Accidental death & disability Benefit: A lump sum benefit is paid to you or your chosen beneficiary in case of accidental death or accidental permanent disability.
  • Level Term Insurance Rider The feature guarantees as lump sum amount payable to the chosen beneficiary in case of death of the insured person.
  • Waiver of Premium Rider (WOP-Death) On death of the insured person, Adamjee Life will pay the initial (un-escalated) basic premiums for the remaining term of the rider, the beneficiary will receive the maturity benefit at the end of the policy term.
  • Waiver of Premium Rider (WOP-Disability) On total permanent disability of the insured person, Adamjee Life will pay the initial (un-escalated) basic premiums for the remaining term of the rider. The policy holder or beneficiary will receive the maturity benefit at the end of the policy term.
  • Monthly Income Benefit Rider A monthly benefit is paid to you and your chosen beneficiary for the defined term of income benefit rider from the date of death or permanent disability.

Partial Withdrawal:
To make sure that all your urgent monitory requirements are taken care of, the plan offers the option of making partial withdrawals from your account value after the plan has been enforce for 2 years.
Partial withdrawals can be taken up to four times in any Policy Year and are limited to 50% of the Net Cash Surrender Value subject to maintaining a minimum Net Cash Surrender Value of Rs. 10,000.

Loan Facility
You can take a loan up to 50% of the net cash surrender value, which is the Account value minus surrender charge.

Policy Terms & Eligibility
Minimum entry age 18 years (Age nearest Birthday)
Maximum entry Age 70 Years (Age nearest Birthday)
Minimum Policy term 10 years
Minimum Premium paying term 10 years
Maximum Policy term 40 years or up to age of 85 whichever comes first.
  • Minimum Basic Premium: (PKR: 8,000 Annual/ 8,000 Semi-Annually &8,000 Quarterly, PKR: 3,000 Monthly)
  • Payment: (Annual, Semi-Annual, Quarterly & Monthly)
  • Tameer Plan is a Unit Linked Plan which is subject to investment risk and the cash value of the plan will vary directly with the performance of the unit fund.
  • Tameer Plan is a Unit Linked Plan which is subject to investment risk. The investment risk shall be borne by the policy holder and actual maturity and surrender values may be lower or higher.
  • MCB is acting as an agent on behalf of Adamjee Life, and is not responsible in any manner, whatsoever, to the customer, his/her beneficiary/ies or any third party.
  • Depending upon the performance of the underlying investments in the fund, the cash values may be higher or lower than the ones shown in the table.
  • The past performance of the fund is not necessarily a guide to future performance. Any forecast made is not necessarily indicative of future or likely performance of the funds and neither Adamjee Life Assurance Ltd., nor MCB Limited will incur any liability for the same.
  • A personalized illustration of benefits will be provided to you by our sales representative. Please refer to the notes in the illustration for a detailed understanding of the various Terms and Conditions.
  • All service charges and taxes will be applicable as per the Bank’s “Schedule of Charges” and taxation laws as stipulated by the relevant authorities.
  • All Tameer Plan applications are processed and approved by Adamjee Life, as per their underwriting guidelines. MCB Ltd. is not responsible for the processing and approval of these applications in any way, whatsoever.
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