Mehfooz Bachat - Conventional

Save and protect for your family’s better future.

To protect your savings and your family from financial hardships, EFU Life & Telenor brings you an exhilarating opportunity to save your money under Mehfooz Bachat Plan that enables you to not only protect your family when you are not amongst them or because of any God forbid disability you might face but it also ensures that you get the maximum benefit out of investment return made on your savings.

Key Benefits of Mehfooz Bachat Conventional Plan:

The plan provide benefits to you and your loved ones, including: 

  • Choice: You decide how much Sum Assured you need from the range of protection multiple available. You can select an additional level of accidental protection.
  • Felexibility: If your needs change, you can request to enhance your Premium OR Sum Assured through indexation. It also provides flexibilty to invest any surplus cash available to accelerate your savings.
  • Convinience: Start saving today with a smaller amount that is convenient to you. You can have access to your savings at any time
  • Peace of Mind: You can take comfort and satisfaction in knowing that you have done something positive for your family’s future.

 

Key Features of Mehfooz Bachat Conventional Plan:

1. High Value Savings Plan:

Exclusively designed for everyone including Telenor Bank customers and general public

Provides one of the highest allocations available in the market

 

2. Top–up your savings:

The flexibility to top-up your regular premium savings by depositing your surplus funds as lump sum Premiums in the plan.

These lump sum Premiums are called “Fund Acceleration Premiums” (FAP) and can be made at commencement or at any policy anniversary

The minimum amount for FAP payment is as low as Rs.12, 000 annually with no upper limit, and offers 100% FAC allocation

 

3. Access to your savings:

Customer has the option to withdraw their fund either fully or partially after 2 years of time

Partial surrender is allowed subject to Rs. 20,000 remaining in the fund

 

4. Customized Protection Option:

Benefit payable on individual’s death can be selected from the below two options available in this plan:

Option 1: Lump Sum On death

In the unfortunate event of death, your beneficiary will receive:

  • Greater of Sum Assured and Cash value against your Basic Plan Regular Premium Plus
  • Cash value against your additional investment as Fund Acceleration Premium
Option 2: Continuation Benefit

Through continuation benefit option where in the unfortunate event of death, the payment of Premium will be made by EFU Life till the maturity of the plan, so that the target fund can be achieved at maturity

 

5. Accidental Death Coverage

Under Accidental Death and Disability Benefit Plus, your beneficiary will receive an additional lump sum benefit, in case of accidental death OR disability

 

6. Maturity Benefit:

At the end of the term, you will be receiving the Cash Value of the units applicable to the Basic Plan Premium plus Cash Value of the units applicable to Fund Acceleration Premium (FAP)

 

Eligibility Criteria:

  • Enrollment Age: Any one between age 18 to 65 years, can purchase this policy
  • Term: 10 to 25 years, subject to 75 years of age at maturity
  • Premium Limit: Rs. 12,000 per annum, no limit for Maximum Premium

 

Unit Allocation:

The year wise allocation of your investment is:

 
Policy Year Allocation as percentage of Premium
1 70%
2 85%
3 *95%
4 and onwards 100%*


*Loyalty Bonus will be applicable on year 3, Year 6, Year 9 and so on

 Extra Allocation (Loyalty Bonus):

For fully enforced policies, an extra allocation will be made after 'every three years' based on the average of the previous years’ Premium, prior to the years mentioned below:

Policy Year Loyalty Bonus Allocation
Year 3 10%
Year 6 and onwards 20%


Average annual regular Premium will be determined as the sum of basic regular Premium paid up to the policy year immediately prior to the year in which loyalty bonus unit allocation is to be done, divided by the total number of policy years completed at the time of bonus unit allocation

 

Charges:
Administration* charge:  Rs. 20 per month (deducted annually)
Bid offer spread: 5% of the net allocable Premium
Investment Management Charge: 0.125% per month
*This will increase by 2% each year

 

How to purchase this plan?

The saving plan is available for subscription through sales representatives at selected Telenor Microfinance Bank branches across the country.

  • To subscribe and for any details please call Easypaisa Helpline 3737 (for Telenor SIM card holders) OR 042-111003737 (for Non-Telenor SIM card holders)
  • Customers can also call at our 24x5 available Mobile hotline number: 0343-0003737 (excluding Saturdays and Sundays)

 

Product Disclaimer:
  • This product brochure only gives a general outline of the product features and benefits

  • This product is underwritten by EFU Life. It is not guaranteed or insured by Telenor Bank or its affiliates and is not a Telenor Bank product. Telenor Bank is only acting as a distributor/agent of this product

  • The investment risk of the fund is borne by policy holder

  • The past performance of selected Growth Fund is not necessarily a guide to future performance. Any forecast made is not necessarily indicative of future or likely performance of the funds and neither EFU Life nor Telenor Bank will incur any liability for the same

  • A personalized illustration of benefits will be provided to you by our representative. Please prefer to the notes in the illustration for detailed understanding of the various terms and conditions

  • A description of how the contract works is given in the policy schedule document.

 

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