Sunehra Aaghaaz | Summit Bank

Sunehra Aaghaaz

Sunehra Aaghaaz offers to make regular, systematic savings, and allows for protection to the family from uncertainties.

Product Type Unit linked life insurance
Policy Term Min 10 years to max up to 75 years
Minimum Basic Premium Annual 24000/,semi-annual 12000/,

quarterly 6000/-

Monthly 2000/-

Premium Payment Method Direct debit from SMBL account
Eligible Age for Enrollment Min 18 years to Max 65 years
Unit Allocation 1yrs policy 30%2yrs policy 85%

3yrs policy 90%

4yrs onwards 100%

AVAP 100%

Investment Stratigies Managed Fund

Yakeen Growth Fund

Meesaq Fund

Capital Growth Fund

Loyalty Bonus 5 years and onwards 3%
Maturity Benefit Account value Payable in Lump sum Payment
Free Look Period 14 days
Partial Withdrawal If you need to withdraw cash for meeting some emergency needs, but do not want to surrender the policy, you can withdraw any amount provided that the residual cash value of your policy after withdrawal is greater than or equal to Rs. 24,000 (the residual cash value floor may be reviewed by Jubilee Life)
Grace Period 30 days (renewal)
Policy Surrender After the completion of two policy years (given two years’ complete premiums have been paid), you can surrender your policy. At the time of surrender, you will be paid in full the Cash Value of your fund. However, surrender in early policy years may result in lower cash values.
Non-Medical Limit PKR 6.0 Million upto Age of 18 to 39 years
PKR 4.5 Million upto Age of 40 to 44 years
PKR 3.5 Million upto Age of 45 to 49 years
Optional Riders *Optional Riders available on request

“The product is underwritten by Jubilee 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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