SLIC Tayyab Takaful Endowment Plan is designed and underwritten by The State Life Insurance Corporation of Pakistan, aimed to provide our valued customers with an opportunity to start saving for their life’s milestones with a sense of security.
This Plan is an easy and affordable membership plans issued to the Participant that provides a cash benefit and bonus based encouragement at the occurrence of the covered events. Based on an application by the Participant, the membership is issued by State Life Insurance Corporation and administered in accordance with the rulings of the State Life’s Shariah Board.
Features and Benefits
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Hybrid product unique combination of Bonus Based and Unit Linked
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High Value Savings
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Attractive rate of return
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Shariah compliant Takaful Coverage approved by Takaful company's Shariah Board
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Death Benefit and Maturity Benefit
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Free Look Period of 14 working Days
Plan Highlights:
Age at Entry: 18 to 60 years
Plan Term: The available term range is 10 to 52 years, subject to maximum age of 70 years at maturity.
Maximum Age at Maturity: 70 years
Minimum Contribution: PKR 15,000/-
Payment Modes: Annually, Semi –Annually, Quarterly and Monthly.
Claims
The Plan provides a handsome, lump sum amount at maturity or (God forbid) at the death of the assured. Customer’s beneficiary/Nominee/claimant visits branch for claim. BS requests for the required documents for the claim
ESSENTIAL DOCUMENTS REQUIRED TO PROCESS DEATH CLAIM
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Membership Schedule.
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Original Membership Documents.
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Death Certificate duly issued by the competent authority i.e. NADRA / Union Council etc.
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Copy of valid CNIC of deceased, claimant and identifier.
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Claim Forms:
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Claim Form A (Claimant Statement)
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Claim Form A-5
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Claim Form B, (Medical Attendant Statement)
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Claim Form C (Identification Statement)
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Claim Form D (Employer Statement)
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Contribution Collection Record.
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Claim investigation report (in case of early death Claim)
Note
Claim Form A-5 is to be used where policies stand assigned in favor of the Provident Fund Department.
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BS forwards the same to Bank Operations
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Bank Ops scrutinizes the documents and dispatches the same to SLIC/GBA
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SLIC/GBA verifies the received documents
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SLIC/GBA process the claim and sends documents to SLIC
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SLIC receives the documents for claim processing
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SLIC issue the claim forms to the claimant
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After submission of the claim forms/papers and other requirement if any, SLIC process the claim
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SLIC counter check and process the claim
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SLIC sends the claim cheque to GBA
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GBA prepares discharge letter
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GBA Sends the Claimant Cheque and Claim Amount Discharge Letter to the Bank Ops
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Bank Ops Forwards the same to DSFO/respective branch
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Beneficiary visits the Bank to collect the cheque
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BS calls the beneficiary to collect the cheque in person
BS ensures the claimant by
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Original CNIC
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Copy of the cheque signed by beneficiary and sends to SLIC/GBA
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Signature on Discharge Letter
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Bank forwards the original relevant documents to SLIC/GBA
Free Look Period:
If you cancel your membership within a free look period of 14 working days from the date of receipt of the membership documents, you are entitled for a full refund of contribution less any expenses incurred by State Life Insurance Corporation of Pakistan in connection with your medical or clinical examinations.
Disclaimer:
The product is underwritten by State Life Insurance Corporation of Pakistan. It is not guaranteed or insured by Bank Alfalah Limited or its affiliates.