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Wednesday, February 18, 2009 E-Mail this article to a friend Printer Friendly Version
Share this story! del.icio.us digg Reddit Furl Fark TailRank Ma.gnolia NewsVine Simpy Spurl UBL, EFU Life launch insurance products KARACHI: United Bank Limited and EFU Life Assurance have launched a range of insurance products branded as UBL BetterLife. These co-branded insurance products, the result of a strategic alliance between UBL and EFU Life, shall be available to customers from selected branches of UBL. The products will meet an emerging need for financial security as well as the desire for a better future for the families of the insured. The four product variants being offered under the BetterLife brand carry the sub-title of Education Plan, Marriage Plan, Savings Plan and Retirement Plan. staff report

UBL, EFU launch insurance products Published: February 18, 2009

KARACHI - United Bank Limited (UBL) and EFU Life Assurance Ltd have launched a range of insurance products under the brand name UBL BetterLife. These co-branded insurance products, the result of a strategic alliance between the UBL and EFU Life, will be available to customers from selected branches of the UBL. The products will meet an emerging need for financial security as well as the desire for a better future for the families of the insured. The four product variants being offered under the BetterLife brand carry the sub-title of Education Plan, Marriage Plan, Savings Plan and Retirement Plan. These are designed to support families by contributing to the cost of childrens education, marriage of children who come of age, supplementing the income of working people and helping them improve their quality of life, as well as providing the much needed financial security to people after retirement. Selling insurance products through banking channels is a recognized international practice now. UBL & EFU Life bancassurance products will be offered in a phased manner through the UBL branch network across Pakistan. This strategy represents a key component of UBLs corporate vision of progressively transforming its branches into veritable financial services distribution centres. More innovative products will also be offered to UBL customers from branches with the passage of time.

BL BetterLife Marriage Plan

UBL BetterLife Marriage Plan provides a complete financial package for planning your son or daughters marriage, by allowing you to accumulate an endowment funds for this purpose in an organized and disciplined manner. Whether it is meant for your son or daughters marriage or to help them to start off a new life of their own, this plan is spot on! Eligibilty Criteria 18 65 years Minimum Payment Rs. 15,000 per annum Partial Funds Withdrawals Allowed Product Features Insurance Protection, Capital Protection Built in Benefits Continuation Benefit, Waiver of Premium. Unit Allocation The proportion of contribution for investment in units varies by policy year and is follows: Policy Year 1 Allocation Percentage

25% - 35% depending on policy term 2 80% 3 onwards 100% 11 onwards 105%* * If basic plan contribution is Rs 20,000 or more. A bid / offer spread of 5% applies to units. For details check out this website or call our "UBL Contact Center" at 111-825-888

UBL BetterLife Savings Plan

UBL BetterLife Savings Plan is

a high value

savings and investment vehicle. Funds accumulated

during the savings term can be utilized for childrens higher education, marriage, buying a house, generating retirement income or for any other purpose. The plan is flexible enough to respond to most individuals needs. It is a unit-linked plan which aims to deliver a substantial sum of money at the end of the savings period. The additional benefit of course comes in the form of life insurance cover. Eligibilty Criteria 18 65 years Minimum Payment Rs. 15,000 per annum Product Features Insurance Protection, Capital Protection Partial Funds Withdrawals Allowed Optional Benefits Additional Terms Assurance, Family Term Benefits Life Care Benefit Built in Benefits Waiver of Premium, Accidental Death Benefits, Maturity Benefit Unit Allocation The proportion of basic plan contribution allocated to investment is as follows: Policy Year Allocation Percentage 1 35% 2 80% 3 onwards 100% 6 to 10 103%* 11 onwards 105%* * If basic plan contribution is Rs. 20,000 or more. A bid/offer spread of 5% applies to units. For details check out this website or call our "UBL Contact Center" at 111-825-888

UBL BetterLife Retirement Plan

Planning ones retirement is vital to ensure that a decent standard of living is maintained

without being a burden on anyone. UBL BetterLife Retirement Plan allows financial independence after retirement. Contributions to the plan are invested in accumulation units to build up substantial capital. At retirement, this capital generates attractive pension payments after the age of 60, as well as a range of protection benefits tailored to ones needs. Eligibilty Criteria 18 65 years Minimum Payment Rs. 15,000 per annum Product Features Insurance Protection, Funds Acceleration Premium, Capital Protection, Loyalty Bonus Partial Withdrawals Allowed Optional Benefits Additional Terms Assurance, Family Term Benefits, Life Care Benefit Built in Benefits Waiver of Premium, Built in Accidental Death Cover, Guaranteed Loyalty Bonus Unit Allocation The proportion of basic plan regular contribution allocated to investment is as follows: Policy Year Allocation Percentage 1 35% 2 80% 3 90% 4 to 10 100% 11 onwards

100% plus Loyalty Bonus allocation

For details check out this website or call our "UBL Contact Center" at 111-825-888

UBL BetterLife Child Education Plan

UBL BetterLife Child Education Plan provides a complete financial package for planning your childrens education, by helping you create an endowment fund for this purpose in an organized and disciplined manner, over a predetermined period. To put your son or daughter through college or university, this Plan is spot on! Eligibilty Criteria

18 65 years Minimum Payment Rs. 15,000 per annum Partial Funds Withdrawals Allowed Product Features Insurance Protection, Capital Protection Built in Benefits Continuation Benefit, Waiver of Premium Unit Allocation The proportion of contribution for investment in units varies by policy year and is follows: Policy Year 1 Allocation Percentage

25% - 35% depending on policy term 2 80% 3 onwards 100% 11 onwards 105%* * If basic plan contribution is Rs 20,000 or more. A bid / offer spread of 5% applies to units. For details check out this website or call our "UBL Contact Center" at 111-825-888