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Looking after a family and
securing their future means you have to be there
for them at the best and worst of times, through
thick and thin, and through sickness and health.
We cherish that special bond, but we also understand
that the thought of the unfortunate events befalling
you, may cause you anxiety about providing a
secured future for your loved ones. Let us ease
your worries.
RBS, in collaboration with
NJI Life brings to you “Companion
for Life”, a joint life investment cum
insurance plan that ensures your loved ones
will not be left alone without any financial
security when you are not there. Rest assured
of the happiness of your loved ones at all times,
irrespective of the circumstances. Reap the
maximum from Life!
Why Should I Buy This Plan?
Companion for Life is an exclusively designed
‘Joint Life’ plan. It aims at providing
maximum financial stability to married couples
or business partners.
How Does This Plan Work?
Contributions made by the policyholder are invested
in NJI Life Managed Fund or Meesaq (Interest
Free) Fund (whichever they choose) and
returns earned, accumulate as policyholder’s
cash value.
What Are The Benefits Of This Plan?
Maturity Benefit
Incase both lives assured survive the term
of the plan; policyholder will receive the
cash value accumulated during the term of
the plan.
Death Benefitt
The higher of Sum Assured (as selected by
policyholder) or Accumulated
Cash Value is payable. The
benefit would be paid once, on the earlier
death of the lives assured during the term
of the policy and the policy would terminate.
How Is The Money Invested In This Plan?
Any contributions made as a participant of this plan will be invested in one of the two funds mentioned below according to your choice of the fund, you want to invest in.
NJI Life offers two different types of funds that you can choose from;
- NJI Life Managed Fund – a Balanced
Income Fund
- NJI Life Meesaq Fund – an Interest
Free Fund
These funds are managed by
expert investment managers and backed by premium
securities to ensure optimized returns with
manageable risk exposure. Investments in these
funds are regulated by the Securities and Exchange
Commission of Pakistan under Insurance Ordinance
2000.
How Are The Funds Allocated in This Plan?
The funds are allocated as per the schedule shown below:
| Year |
Allocation % |
| 1st Year |
35% |
| 2nd Year |
85% |
| 3rd Year |
100% |
| 4th Year Onwards |
102% |
* Allocation of adhoc premium
is made at 100%
How Much Do I Have To Pay To Avail This Plan?
Only PKR 36,000 annually (PKR 3,000 monthly)
today, will ensure that your tomorrow is secure.
What Is The Premium Payment Frequency For This Plan?
Companion for Life offers you the option to
pay premiums for this plan either annually,
semi-annually, quarterly or
monthly.
Can I Withdraw My Funds From This Plan, When I Need Them?
Funds can be withdrawn from the accumulated
cash value if and when required (after completion
of two policy years). A minimum amount as determined
by the NJI Life is to be left with the plan
in order for the plan to stay active.
What if I want to make contributions in addition to regular premiums?
You may have extra funds available
with you at any stage. You can top up your regular
investments under this plan by making ad-hoc
premium payments. Ad-hoc premiums will be allocated
at 100%.
How Can I Enroll For This Plan?
Enrollment for this plan is subjected upon fulfilling the below criteria;
| Description |
Minimum |
Maximum |
| Entry Age |
18 Years |
*65 Years |
| Term of Plan |
10 Years |
25 Years |
| Annual Premium |
PKR 36, 000 |
No Limit |
*Maximum age at maturity should
not exceed 75 years
What Steps Should I Take To Enroll for this Plan?
Companion for Life Plan can be availed
by following two simple steps:
- Select the term of the plan, amount you
wish to contribute and the frequency you
wish to contribute at.
- Contact your
personal banker for an illustration
in order to avail this plan.
What Are The Charges Applicable To This Plan?
Following charges* will be applicable on your plan:
- A bid/offer spread of 5%,
- Trimmed premium allocation in first two policy years,
- An investment management charge of 1.5% per annum of the fund value that will be deducted on weekly basis.
- Administration fee. Currently PKR 28 per month.
- Benefit assured charges to provide death benefits under this plan.
*All charges are reviewable
by the company
Things to Remember:
- Companion for Life is a Unit Linked Joint
Life Plan which is subject to investment
risk.
- NJI Life or RBS Pakistan Ltd does not
guarantee the value of Units.
- The value of units may rise, fall or remain
unchanged. No guarantees in respect of any
Funds are given by NJI Life or RBS Pakistan
Ltd.
- The past performance of funds is not necessarily indicative of the future performance of any of these funds.
- All benefits payable under the policy are subject to applicable laws (financial or otherwise), as they exist in Pakistan from time to time.
- Unit prices of NJI Life Managed Fund are published in all leading dailies on a weekly basis. (every Thursday)
- Please refer to the policy document of this plan.
- For further information regarding products
offered by NJI Life, you may visit our website:
www.njilife.com
Disclaimer:
The applicant/buyer of this product fully agrees and understands that the Bank shall under no circumstances whatsoever, be responsible nor shall the Bank be held liable to the applicant/buyer or any other third party in respect of any representation and/or undertaking made by NJI Life in relation to this life insurance product and/or any benefit arising out of it. Should the applicant/buyer proceed to subscribing to this life insurance product, he/she shall do so on a voluntary basis at his/her sole risk and the Bank shall have no responsibility or liability whatsoever in respect of any disputes and/or claims arising as a consequence of the investment performance of the Fund comprising of contributions from the applicant/buyer and/or for any other reason whatsoever. The cash value/account value and benefits shown assume that premiums are paid in full when due and no withdrawals have been made from the policyholder’s cash value/account value.
All guarantees mentioned in this brochure are backed by NJI Life and the Bank is not liable for the performance of NJI Life on this part.
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