Takaful (التكافل) is an age old Islamic concept of mutual help & support blended with modern concepts of Actuarial Science, Underwriting and Investment under the supervision of Sharia’h Advisor. Takaful is Sharia’h compliant way of supporting each other in case of Death, Disability or Disease.
Hisaar
| Eligible Enrollment Age | 18 – 65 Years |
| Membership Term | 10 – 57 years, you can choose your retirement age between 55 – 75 years |
| Minimum Basic Contribution | PKR 24,000 |
| Contribution Payment Mode | Direct Debit from Summit Bank account |
| Partial Withdrawal | After 2 Years |
| Contribution Surrender | After 1 Years, subject to a minimum amount withdrawn and a minimum amount of cash value remaining after the withdrawal |
| Choice of Takaful Investment Strategies | Managed Takaful Fund Capital Growth Takaful Fund |
| Non-Medical Limit | Upto PKR 6 Million |
| Loyalty Bonus | Starting from Year 7 |
| Death Benefit | Sum Covered or Cash value whichever is higher |
| Maturity Benefit | The Participant will receive the accumulated in his respective participant Investment Fund(PIF). |
| Additional Benefits | * Optional Riders available on request |
Disclaimer:
“The product is underwritten by Jubilee Life Takaful etc. It is not guaranteed or insured by Summit Bank.”