Mukammal Savings and Insurance Plan
Plan today to secure tomorrow. The Mukammal Savings and Insurance Plan helps you grow your savings while protecting your family’s future. It combines financial security with flexible coverage and expert fund management.
Bank Alfalah, in partnership with Jubilee Life Insurance, offers this plan to support your long-term goals and safeguard your loved ones.
Features and Benefits
- Capital Protection
Your invested premiums remain fully secure. At maturity, you receive the total cash value accumulated during the plan term. - Flexible Coverage
Select the sum assured that suits your needs. Multiply your annual premium by a cover multiple (5 to 25).
Example: If your annual premium is PKR 36,000 and you choose a cover multiple of 10, your sum assured will be PKR 360,000. - Family Security
In case of death during the plan term, beneficiaries receive the higher of the sum assured or the policy’s cash value. - Age-Based Cover Multiples
Available cover multiples vary by the life assured’s entry age. - Expert Fund Management
Invest your contributions in funds of your choice (Meesaq, Managed, Capital Growth, or Yaqeen Growth Fund). Professional managers invest in premium securities to deliver strong returns with controlled risk. - Supplementary Benefits (available at an additional cost):
- Medipal Rider: Provides hospitalisation coverage due to illness or accident. Three variants are available, based on the basic premium amount of the policy.
- Cancer Protection Rider: Offers financial support if you are diagnosed with cancer. The payout depends on whether the illness is at an early or late stage, helping you focus on recovery.
Payment Frequency
- Minimum annual payment: PKR 36,000
Eligibility
- Available to Bank Alfalah customers aged 18 to 55 years
Term of Plan
-
Minimum term: 10 years
- Maximum term: 57 years (up to age 75 at maturity)
Claims Process
To file a claim, the beneficiary must contact Jubilee Life at (021) 111-111-554 and submit:
- Original policy documents
- Completed claim forms A, B, C, and D
- Full medical and treatment record, including clinical notes
- Death certificate issued by hospital and NADRA
- Attested CNIC of life assured and claimant(s)
- Written intimation mentioning date and cause of death
For murder, suicide, or accidental death, the following are also required:
- Post-mortem or autopsy report (attested)
- Newspaper cutting of the event (attested)
- Police FIR (attested)
- Medico-legal report (attested)
Additional documents may be required depending on the case.