IGI | Summit Bank

IGI

International General Insurance Company of Pakistan Limited (IGI), the flagship organization of the Packages Group, was established in 1953. It is listed on the Karachi and Lahore Stock Exchanges and is presently one of the leading quoted insurance companies of Pakistan with its AA rating for the last 13 years from PACRA. IGI has a market value of assets over PKR 13.5 billion as of December 2013. IGI has an established track record of dealing effectively and efficiently with multinationals as a global network partner of Royal and Sun Alliance plc. UK.

IGI has been underwriting all types of property and casualty insurance: fire, marine, motor, travel, health, home and miscellaneous. Since 1953, IGI is providing comprehensive risk management facilities to a number of distinguished local and multinational business concerns through a network of branches in Pakistan.

Wedding Planner

Eligible Enrollment Age 18 – 65 Years
Policy Term Minimum 10 years and maximum up to 70 years
Minimum Basic Premium PKR 25,000
Account Value Acceleration
Premium (AVAP)
Facility Available – If customer has surplus funds, he or she may top-up the regular premiums by depositing a lump sum contribution to the plan
Premium Payment Mode Direct Debit from Summit Bank account
Partial Withdrawal  After 5 Years
Policy Surrender After 2 Years, In case of earlier surrender, compensation will be charged
Choice of Investment strategies Make your own mix (Switching Facility Available)
Non-Medical Limit Upto PKR 10 Million
Loyalty Bonus Payable at the end of every 5 Years
Death Benefit Basic Face Amount OR Account Value (whichever Is Higher)
Maturity Benefit Accumulated Account Value or Account Value (whichever is higher)
Built-in Riders Family Protection Rider (FPR) – In case of permanent and total disability of the insured, all due future premiums are waived from the date of diagnosis of disability.

Graduate Plan

Eligible Enrollment Age 18 – 55 Years
Policy Term Minimum 10 years and maximum up to 70 years
Minimum Basic Premium PKR 25,000
Account Value Acceleration
Premium (AVAP)
Facility Available – If customer has surplus funds, he or she may top-up the regular premiums by depositing a lump sum contribution to the Plan
Premium Payment Mode Direct Debit from Summit Bank account
Partial Withdrawal  After 5 Years
Policy Surrender After 2 Years, In case of earlier surrender, compensation will be charged
Choice of Investment strategies Make your own mix (Switching Facility Available)
Non-Medical Limit Upto PKR 10 Million
Loyalty Bonus Payable at the end of every 5 Years
Death Benefit Basic Face Amount OR Account Value (whichever Is Higher)
Maturity Benefit Accumulated Account Value or Account Value (whichever is higher)
Built-in Riders Family Protection Rider (FPR) – In case of permanent and total disability of the insured, all due future premiums are waived from the date of diagnosis of disability

Golden Age

Eligible Enrollment Age 18 – 65 Years
Policy Term Minimum 10 years and maximum up to 85 years
Minimum Basic Premium PKR 25,000
Account Value Acceleration
Premium (AVAP)
Facility Available – If customer has surplus funds, he or she may top-up the regular premiums by depositing a lump sum contribution to the plan
Premium Payment Mode Direct Debit from Summit Bank account
Partial Withdrawal  After 5 Years
Policy Surrender After 2 Years, In case of earlier surrender, compensation will be charged
Choice of Investment strategies Make your own mix (Switching Facility Available)
Non-Medical Limit Upto PKR 10 Million
Loyalty Bonus Payable at the end of every 5 Years
Death Benefit Basic Face Amount OR Account Value (whichever Is Higher)
Maturity Benefit Accumulated Account Value or Account Value (whichever is higher)
Built-in Riders Family Protection Rider (FPR) – In case of permanent and total disability of the insured, all due future premiums are waived from the date of diagnosis of disability.

Goals

Eligible Enrollment Age 18 – 65 Years
Policy Term Minimum 10 years and maximum up to 85 years
Minimum Basic Premium PKR 25,000
Account Value Acceleration
Premium (AVAP)
Facility Available – If customer has surplus funds, he or she may top-up the regular premiums by depositing a lump sum contribution to the plan
Premium Payment Mode Direct Debit from Summit Bank account
Partial Withdrawal  After 5 Years
Policy Surrender After 2 Years, In case of earlier surrender, compensation will be charged
Choice of Investment strategies Make your own mix (Switching Facility Available)
Non-Medical Limit Upto PKR 10 Million
Loyalty Bonus Payable at the end of every 5 Years
Death Benefit Basic Face Amount OR Account Value (whichever Is Higher)
Maturity Benefit Accumulated Account Value is used to buy
monthly pension that is payable for lifetime
of the customer and guaranteed for a
minimum of 20 years
OR;
Accumulated Account Value Payable in four
equal annual installments
OR;
Accumulated Account Value payable in lump
sum

Takaful Asasah

Eligible Enrollment Age 18 – 65 Years
Policy Term Minimum 10 years and maximum up to 85 years
Minimum Basic Premium PKR 25,000
Account Value Acceleration
Premium (AVAP)
Facility Available – If customer has surplus funds, he or she may top-up the regular premiums by depositing a lump sum contribution to the plan
Premium Payment Mode Direct Debit from Summit Bank account
Partial Withdrawal  After 5 Years
Policy Surrender After 2 Years, In case of earlier surrender, compensation will be charged
Choice of Investment strategies Make your own mix (Switching Facility Available)
Non-Medical Limit Upto PKR 10 Million
Loyalty Bonus Payable at the end of every 5 Years
Death Benefit Basic Face Amount OR Account Value (whichever Is Higher)
Maturity Benefit On completion of the membership term, the available Participant’s Investment Account (PIA) value along with the account value of Top-UP amount (If Any) will be payable to the participant. The Accumulated value in PIA can be taken as a lump sum; or applied to take life-time pension commencing from the maturity date or taken partly in cash and the balance applied to take pension
Additional Benefits Waiver of Contribution – Disability
Additional Protection Benefit

Disclaimer:
“The product is underwritten by IGI Life Insurance etc. It is not guaranteed or insured by Summit Bank.” 
 

©2016 Copyright Summit Bank Limited. All rights are reserved.

Last Updated 2017-01-17


Browser Compatibility: Chrome, Mozilla, Opera, Internet Explorer 8 and latest Safari.