Professional Documents
Culture Documents
Date of Birth:
21-May-1981
Reference Number:
Age:
35 years
Gender:
Male
21-Jan-2016
COVERAGE DETAILS:
Currency of Takaful Plan:
Pakistan Rupees
Annual
Cover Multiple:
20 years
Rs. 50,000
Membership Term:
20 years
Rs. 51,383
Indexation:
Non-Indexed
Description
Benefit Code
Rs. 250,000
Sum Covered
Term
Contribution
WS_Tak
Rs. 250,000
20 years
Rs. 50,000
92
Rs. 250,000
20 years
Built In
Rs. 250,000
20 years
Rs. 375
Contribution Waived
20 years
Rs. 1,008
17
ILLUSTRATIVE VALUES:
Membership
Year
1
2
3
4
5
6
7
8
9
10
15
20
Your age
would be
35
36
37
38
39
40
41
42
43
44
49
54
MATURITY BENEFITS:
Maturity Benefits available at the end of Membership Term
Rs. 1,604,000
Rs. 1,999,000
Rs. 2,506,000
NOTES:
- Wakala Fees*:
- Allocation Percentages:
Level
Year
Allocation Percentages
1st Year
20%
Takaful Contribution
2nd Year
80%
Administrative Fee
Membership Fee
3rd Year
85%
Nil
4th Year
90%
5th Year
95%
Free of Charge
6th Year
100%
7th Year
103%
100%
* These Wakala Fees are applicable for all unit linked funds underlying the Participants' Investment Account
10th Year
105%
100%
15th Year
110%
100%
120%
95%
- Takaful Contribution, which may vary with Membership Year and attained age of the Life Covered will be deducted monthly from PIA for the Benefit Covered to be paid from IFTPF. The Takaful
Contribution is deducted in line with terms and conditions of the PMD and Supplementary Takaful Benefit documents. 25% of each month's Takaful Contribution for Benefits Covered under the PMD
and 40% of each month's Takaful Contribution for Benefit Covered under the Supplementary Takaful Benefit documents is deducted as Wakala fees from the IFTPF
- Administrative Fee is Rs. 65 per month. This is reduced to Rs. 35 per month once the memebership goes into Paid-up mode. For determining the values mentioned above,
the Administrative Fee is increased every year by 10.20%.
- The Window Takaful Operator will be entitled to 40% of the investment income earned by IFTPF as Mudarib Fee
- All Wakala Fees mentioned in the above notes are reviewable at the discretion of the Window Takaful Operator
- The participant is entitled to any Surplus distributed from the IFTPF in accordance with the terms and conditions of the PMD
- Brief description of Supplementary Benefits:
Supplementary Benefit
Description
--> Lump Sum Benefit payable on diagnosis of any of eighteen specified Critical Illnesses
Mentioned Above
--> Lump Sum Benefit payable in the event of Accidental Death or Dismemberment
Mentioned Above
SIGNATURES:
Signature of Participant
Name of Participant:
Name of Representative:
Date:
Date:
22-Nov-2015
18-Nov-2016
Pages 1 of 2 pages
WS_Tak-6324
Prepared by the Actuarial Services Department
- The Cumulative Main Plan Basic Contributions Paid mentioned in the tables above does not include any Takaful Contribution paid in line with terms and conditions of the Supplementary Takaful Benefit document.
- Death Benefit is Sum Covered or Cash Value, whichever is higher. For illutration purpose, it is assumed that death occurs at the end of the year
- Maturity Benefit is the prevailing Cash Value at the time of Maturity
- Cash Value is the Net balance available in PIA plus Distributable Surplus from the IFTPF, if any.
The figures illustrated above do not take account into any Distributable Surplus from the IFTPF.
- The illustrative values do not take into account any partial withdrawals from the PIA.
- The rate of return assumptions mentioned in the tables above are before deduction of the investment Management fees. These fees have been deducted from the rate
of return assumptions prior to determining the Illustrative Values in the tables above
- The Death Benefit/Cash Values given above are based on assumptions. The actual values can be higher or lower than the one illustrated above depending upon the performance
of the underlying investments in the PIA.
- The underlying investments of the Takaful plan are in Managed Takaful Fund and/or Capital Growth takaful Fund.
Investment Mix Strategies: We offer the following choices of Investment Mix Strategies to define the split of incoming Contributions into the unit-linked funds:
Accelerator Strategy: Managed Takaful Fund: 55%; Capital Growth Takaful Fund: 45%
Growth Strategy: Managed Takaful Fund: 75%; Capital Growth Takaful Fund: 25%
Balanced Strategy: Managed Takaful Fund: 85%; Capital Growth Takaful Fund: 15%
Income Strategy: Managed Takaful Fund: 100%
Based on your current age, the Window Takaful Operator recommends "Accelerator" strategy for you. You can choose any of the above strategies, or a customized strategy, as per your discretion.
This strategy would remain in place for the duration of the Membership. However you can at any time provide instructions to change the contribution split strategy as per your discretion.
- Cash Value given above are net of all Wakala fees. Membership will acquire Cash Value after completion of one Membership Year, provided one full years' contribution has been paid.
- The Main Plan Death Benefit and Cash Value shown above are rounded to the nearest thousand Pakistani Rupees.
- This is an approved illustration of the Window Takaful Operator. Any other illustration which contradicts this illustration should not be given any consideration and should be
reported to the Window Takaful Operator.
- Please refer to the PMD and Supplementary Takaful Benefit Document(s) for detailed Terms & Conditions
ILLUSTRATED VALUES ARE AT STANDARD RATES
DECLARATIONS:
Declaration by the Window Takaful Operator's Representative:
I confirm that I have not made any verbal, written or electronic presentation which is in contradiction to this illustration. I also confirm that I have not misled or deceived the prospective Participant in any way. In case of any
misconduct on my part, the Window Takaful Operator and I shall be responsible for any loss to the prospective Participant. In such circumstances, SECP shall have the authority to take any action in light of the Insurance Ordinance
2000 and Takaful Rules 2012.
Signature:
Date:
Name:
Code:
Designation:
Declaration by Participant:
I have studied the above illustration and notes carefully and understood them fully. I also confirm that no other illustration verbal, written or electronic in contradiction to this illustration has been given to me.
Signature:
Name:
Date:
MR. MR. BASIT HASSAN
Address:
Contact Number:
CNIC:
Branch Management Review
Signature:
Date:
Name:
Rs.250,000
FIB SAR :
Not Applicable
FIB SA:
Not Applicable
WOC SA:
Rs.50,375
22-Nov-2015
18-Nov-2016
Representative:
Representative's Code:
Manager:
Manager's Code:
Branch Name:
City:
Pages 2 of 2 pages
WS_Tak-6324
Prepared by the Actuarial Services Department