Goals | Summit Bank


A high value investment and protection plan that is designed to help customers
meet a number of financial needs which includes:
  • Business
  • House building
  • New car
  • Vacation planning
  • Inter-generational wealth transfer
  • Inflation mitigation
  • Income support
  • Marriage/ education
  • Retirement

The salient features of this plan are appended here-under:

Eligible Enrollment Age 18 – 65 Years
Policy Term Minimum 10 Years – Upto The Age of 85
Minimum Basic Premium PKR 3,000
Maximum Basic Premium No Limit
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 Allowed After 5 Years
Policy Surrender Allowed After 2 Years. In Case of Earlier Surrender, compensation will be charged.
Choice of Investment
Make Your Own Mix (Switching Facility
Non-Medical Limit PKR 10 Million
Loyalty Bonus Payable At The End of Every 5 Years
Death Benefit Basic Face Amount OR Account Value (Which Ever 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
Accumulated Account Value Payable in Four
Equal Annual Installments
Accumulated Account Value Payable in Lump

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

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Last Updated 2020-06-02

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