Can you tell me something about the insurance company?

Savings Plan is underwritten by ALICO Pakistan. ALICO Pakistan is a member company of American International Group, Inc, (AIG). AIG is the world's leading international insurance and financial services organization, with operations in more than 130 countries and jurisdictions. AIG companies serve commercial, institutional and individual customers though the most extensive worldwide property-casualty and life insurance networks of any insurance organization. AIG's global businesses also include retirement services, financial services and asset management.

What if I die before the college education of my child starts or my daughter’s marriage?

God forbid, if you die before the term selected by you pursuant to your policy matures, college education of your child starts or your daughter’s marriage the accumulated account value or the premiums paid, (whichever is higher) will be paid to your beneficiaries in accordance with the terms and conditions applicable to the policy.

What if the cause of my death is an accident before the Policy maturity date?

In the unfortunate event of an accidental death of the parent (insured) during the term of the policy, the benefits under the policy are follows:

• Accidental Death benefit of Rs.1,000,000 will be paid to the beneficiaries in accordance with the (Accidental Death) Terms and Conditions applicable to the policy.
• The accumulated account value or the premiums paid ( which ever is higher).

How do I pay the premium?

Premium payment could be made through Direct Debit Authority from either a Bank Account or Credit Card.

Do I have to submit any evidence of good health, undergo medical examine to buy this plan?

No, however evidence of good health or the need to undergo medical examination will be required only, in the event that you decide to avail the Savings Plan with insurance as an additional option for example life insurance or disability protection pursuant to executing relevant supplementary agreement (or other document(s) required by ALICO Pakistan in such respect).

What happens to the premium I pay?

The premiums you pay each year (less premium related expenses) will be credited to your individual account value to be invested in secure investments, such as like Government securities, Bonds of reputable corporations and so on. Every month, deductions will be made from your account for administrative charges, cost of insurance, if any, and credited with investment earnings.

Would I be able to make withdrawals from my account value or take loan while I am paying the loan against the same ?

Yes, you may make withdrawals from your account value accumulated after you have subscribed to the policy has run for at least 5 years, subject to minimum and maximum withdrawal amount in accordance with the terms and conditions applicable to the policy which allows as per Company rules. You may also take loan up to 90% of the net cash surrender value to be availed as loan subject to terms and conditions determined by ALICO Pakistan. as provided in the policy provisions.

But please note that the main purpose of the account value is to meet your child's college fee or your daughter’s marriage expenses. It is therefore, not advisable to utilize the accumulated funds for any other purpose.

What is the difference between the account value and cash surrender value?

You have the option to surrender your policy at any time pursuant to incurring applicable surrender charges. Such surrender charges will be applicable on the account value accumulated and will be calculated dependings on the policy year during which the policy is surrendered. The surrender charges applicable for each corresponding year during which the policy may be surrendered are listed hereunder:

How will the account value grow during the premium paying period?

Please note that the growth of account value depends on:

• The amount of premium paid and frequency of such payments i.e. whether made annually, semi-annually, quarterly timing of your premium payments and
• The investment yield that will be credited to your account value every month.

None of these factors can be predicted with assurance in advance. However, an illustration will be provided to give you an idea of how each premium payment will increase the account value up to the based on the time policy duration selected. the college fees payments commence or the target marriage fund becomes payable.

Please note that all the amounts which may be shown in the illustration (s) are projections. However, the policy guarantees the insured that their account value will be credited with minimum of 4% per annum yield returned on investment/premium paid.

Inflation Protection option is also available to customers for an additional premium charge of 5% per annum on investment/ premium paid.

Past Performance of the Fund is not indicative of Future Results