Jubilee Life Takaful - Summit Bank

Jubilee Life Takaful

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.


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Contribution Surrender After 1 Years, subject to a minimum amount withdrawn and a minimum amount of cash value remaining after the withdrawal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

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

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Last Updated 2023-09-25

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