EFU Savings Plan
Transcript of EFU Savings Plan
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EFU Savings Plan
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EFU Savings Plan
High value savings and investment plan
Specifically designed for Group Schemes
Minimum 10 employees
Provides rapid accumulation of fund value fromthe early policy years.
Unbeatable in the life insurance market in termsof value for money
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Provident Funds
Employer sponsored mechanism providing savingsand retirement benefits
Monthly contribution employee employer
Generally in the range of 8.33% of basic salary permonth
All Provident Funds sponsored by employers comeunder the purview of Provident Fund Rules of theIncome Tax Ordinance 2001
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Provident Fund Rules
Income Tax rules 2002
Recognized Provident Funds
The Rules allow deduction from provident fund balance topay premiums of life insurance policies.
Conditions for such withdrawals are:
Policy is to be assigned to the trustees of the providentfund (Rule 103 (1) h)
Premium payment receipt is to be handed over to thetrustees for inspection (Rule 103 (1) h)
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Provident Fund Rules
Each withdrawal cannot exceed 18 times monthlysalary of the employee or the total accumulatedprovident fund balance, whichever is less (Rule 104(1) d)
Amount withdrawn for premium payments does nothave to be repaid to the trustees (Rule 106 (1))
Employee has to give a written request to the trustees for
deduction of the amount of premium from the provident fundbalance and pay to the insurer.
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EFU Savings Plan
10 years 40 years
Your contributions to the Plan will buy units in the
EFUManaged Growth Fund
The objective of the Fund is to maximize capital growth byinvesting in a balanced portfolio spread across a wide range offixed income securities, stocks and other instruments
The Fund is managed by experts who will adjust the mix of
underlying investments in the light of economic conditionsand investment opportunities
Flexible Saving Period
Opportunity for Growth
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EFU Savings Plan
Inflation Protection
The plan also takes into account the
effect of annual inflationTo retain the purchasing
power of the Plansbenefits
Each year the contribution would increase by
7%of the initial contribution
The Plan also has the flexibility of paying level premiums
Security andPeace of Mind
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EFU Savings Plan
Access to your savings
No one can predict theFuture
Encashmentafter 2 years
premiumpayment
Investment with a Safety Net
Guaranteed level of life assurance
In case of death before the end of the selected term, thedependents will receive the greater of the sum assured or the
cash value of the plan at the date of death
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EFU Savings Plan
Waiver of Premium
Additional Term Assurance
Accidental Death & Disability Benefit
Accidental Death & Disability Benefit (Plus)
Family Income Benefit
Lifecare Benefit
Lifecare Benefit Plus
Minimum Annual Premium
Rs. 10,000Additional Benefits
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Some of our Corporate Clients
Pakistan Steel
NED University
EOBI
Port Qasim Authority
PTCL
Karachi Port Trust
Karachi City Government
Ufone
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EFU Managed Growth Fund
10 Year Annualized Returns
EFU MGF vs NJLI Managed Fund
11.00%
12.00%
13.00%
14.00%
15.00%
16.00%
17.00%
18.00%
19.00%
20.00%
31
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EFU
NJLI
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Thank you !