Golden Path Family Takaful
Get on the Golden Path, to Elevate your Financial Status
Askari Golden Path Family Takaful Plan is designed for individuals who aim to build a secure future with a strategic edge. With an annual contribution starting from PKR 200,000, the plan offers a powerful blend of protection and savings, uniquely enhanced by our Golden Bonus feature.
We reward your commitment right from the beginning — the First year Bonus is allocated before completion of the first contribution year, and the Second year Bonus before completion of the second year, with both bonuses remain invested in a separate Participant’s Investment Account (PIA). This creates your very own “Golden Path,” where early discipline is substantially rewarded, giving your savings a significant head start as they gain momentum while ensuring a strong financial safety net for your loved ones.
Askari Golden Path Family Takaful Plan is designed for individuals who aim to build a secure future with a strategic edge. With an annual contribution starting from PKR 200,000, the plan offers a powerful blend of protection and savings, uniquely enhanced by our Golden Bonus feature.
We reward your commitment right from the beginning — the First year Bonus is allocated before completion of the first contribution year, and the Second year Bonus before completion of the second year, with both bonuses remain invested in a separate Participant’s Investment Account (PIA). This creates your very own “Golden Path,” where early discipline is substantially rewarded, giving your savings a significant head start as they gain momentum while ensuring a strong financial safety net for your loved ones.
Protection and Savings, Amplified by Milestone Rewards
The Askari Golden Path plan features robust protection that safeguards your family's financial well-being, giving you the peace of mind to pursue your ambitions. But what truly sets it apart is how we amplify your savings. The unique Golden Bonus structure means the rewards you earn in your first two years are strategically allocated to your fund in the 4th and 5th years. This mechanism provides a powerful milestone that accelerates your progress, whether you're saving for your children's education or planning for retirement. Combined with Shariah-compliant investments, this plan doesn't just secure your future—it proactively builds it, helping you create a brighter tomorrow for yourself and your loved ones.
Jee Lo Har Ghari, With Confidence in Your Future By investing in our Askari Golden Path plan, you are not just saving; you are embarking on a structured journey towards financial freedom. You can truly live every moment, confident that your future, and your family's future, is protected and poised for growth on a proven Golden Path.
Jee Lo Har Ghari, With Confidence in Your Future By investing in our Askari Golden Path plan, you are not just saving; you are embarking on a structured journey towards financial freedom. You can truly live every moment, confident that your future, and your family's future, is protected and poised for growth on a proven Golden Path.
Key Features
Basic Features
How well your future may be planned? Your protection along with your loved ones protection is priceless! Our Family Takaful Protection benefit ensures the financial safety of you and your family in cases of unfortunate events. The Certificate pays the beneficiary(ies) an amount equal to the Participant's Investment Account (PIA) cash Value or Sum Covered whichever is higher.
Family Takaful coverage is more than just a safety net for you and your family! The Family Takaful Certificate’s maturity benefit ensures that you receive the amount of your Participant’s Investment Account (PIA) cash value at the completion of your certificate term, allowing you to fulfil all those bigger dreams that you had been putting on hold.
With the benefit of Partial Withdrawals, you can withdraw up to 50% of the net cash surrender value of your PIA provided you maintain a minimum net cash surrender value of Rs. 10,000/- only! With this benefit, your money is never bound and can be accessed with a minimal charge of Rs. 500/-.
With this benefit, your money is never bound and can be accessed with a minimal charge of Rs. 500/-.
With this benefit, your money is never bound and can be accessed with a minimal charge of Rs. 500/-.
Family Takaful Certificate is a long-time commitment towards your goal to provide desired financial security and prosperity to yourself and your loved ones. However, in case you realize that you are not satisfied with the product offering, you need not to worry, as Askari Life-Window Takaful Operations offer a free look period where you can return the Participant’s Membership Documents (PMD) within 14 days and get a 100% refund of contribution.
Through this option, you will be given an option to get your maturity value on monthly basis up to the years you have selected. Maturity value will continue to grow through Shariah Compliant Investment in your PIA (Participant’s Investment Account) till the last month of your selected tenure to receive the monthly Annuity benefit.
It’s an unfortunate fact that the money we have is worth a little less every day in this uprising economy. As rising inflation erodes our savings bit by bit, we need a plan to keep our savings intact. Askari Golden Path Family Takaful Plan offers this unique feature dedicated to combat inflation with selected increment in the contribution every year.
In addition to risk mitigation benefits, Takaful offers a unique feature of Surplus sharing to the Participants. Surplus in the Waqf, if any, shall be determined on individual participant basis at the end of each financial year, after maintaining necessary reserves as per the advice of appointed Actuary and Shari’ah Adviser. The distributable surplus will be allocated to the PIA as per defined manner to the eligible Participants.
| Contribution Year
|
% of Basic Contribution Allocated to Participant's Investment Account | Surrender Charges as % of PIA Value |
|---|---|---|
| 1 | 40% | Nil |
| 2 | 50% | Nil |
| 3rd year onwards | 100% | Nil |
Minimum Cover term: 5 Years
Maximum Cover term: Up to Age of 75
Minimum Paying Term: 5 Years
Maximum Paying Term: Equal to Cover term
Maximum Cover term: Up to Age of 75
Minimum Paying Term: 5 Years
Maximum Paying Term: Equal to Cover term
Your commitment paves your Golden Path.
Simply by maintaining your certificate in good standing with timely contributions
and without any withdrawals, you become eligible for our exclusive bonus program.
Watch your early rewards mature into major milestones. The bonuses you earn in your first two years are strategically allocated to your main fund in the 4th and 5th years, giving your savings a powerful, timed boost just as your investment gains momentum.
Stay committed for 5+ years and earn more attractive loyalty bonuses in the future years.
Watch your early rewards mature into major milestones. The bonuses you earn in your first two years are strategically allocated to your main fund in the 4th and 5th years, giving your savings a powerful, timed boost just as your investment gains momentum.
Stay committed for 5+ years and earn more attractive loyalty bonuses in the future years.
|
Contribution Year
|
% of Initial Basic Contribution Allocated to Participant's Investment Account (PIA) |
|---|---|
| *1 | 40% |
| *2 | 40% |
| 8 | 25%% |
| 10 | 50% |
| 15 | 100% |
| 20 | 250% |
- The First Year Bonus will be allocated before completion of the 1st Contribution year, and the Second Year Bonus will be allocated before completion of the 2nd Contribution year. Both bonuses will remain invested in a separate Participant’s Investment Account (PIA).
- Fifty percent (50%) of the invested bonus amount will be transferred to the regular PIA Cash Value upon payment of the 4th Certificate Year’s full annual contribution.
- The remaining fifty percent (50%) of the invested bonus amount will be transferred to the regular PIA Cash Value upon payment of the 5th Certificate Year’s full annual contribution.
- The payment of these bonuses is subject to the timely payment of all due contributions within the specified grace period.
| Certificate Fee |
|---|
| Rs. 200 to be deducted monthly. (This will increase by 10% every year) |
| Investment Management Charges |
|---|
| 2.00 % p.a of the PIA value to be deducted monthly |
| Waqf Donation |
|---|
| Rate will be charged as per filling in SECP |
| Contribution Expense |
|---|
| 5% of Contribution expense will be deducted from every Contribution. |
| Top-up Contribution Expense |
|---|
| 2% of Contribution expense will be deducted from every Contribution. |
| Wakala Fee | |
|---|---|
| Year | % of Total Contribution |
| 1 | 60% |
| 2 | 50% |
| 3 year onwards | 0% |
| Partial/Full Surrender Processing Fee |
|---|
| Nominal fee of Rs. 500/- will be charged upon partial withdrawal/Full surrender |
| Mudarib’s Share |
|---|
| 30% on investment return of the WAQF |
Additional Optional Benefits
Apart from standard applicable benefits such as protection and investment, Askari Golden Path Family Takaful Plan
Plan also offers you additional benefits, and the liberty to choose from various optional benefits,
based on your goals and financial capabilities subject to the payment of additional Waqf Donation.
Spouse Benefit
A remarkable feature designed to provide you and your spouse with added security and peace of mind. With this feature, you can enroll both you and your spouse in a single family takaful certificate, ensuring that your loved ones are financially protected together. In the event of an unfortunate incident, the surviving spouse will receive the full benefits. It's a testament to our commitment to safeguarding your family's future.
Hospitalization Coverage
To ensure that you are well protected against unforeseen medical expenses, Askari Golden Path Family Takaful Plan offers you a unique benefit that offers hospitalization coverage. That promises that in case of hospitalization due to an accident for more than 1 day, will cover your hospitalization expense (Rs. 8,000/ per day) for up to 60 days at any hospital of your choice.
Major Surgery Benefit
With this exclusive benefit, if you undergo surgery (mentioned in the major surgery provision) during this supplementary benefit coverage, the surgery expense of Rs. 500,000 shall be borne by Askari Life-Window Takaful Operations. Hence no additional burden will be on your family. This benefit acts as a protection for you from the substantial amount required for the treatment.
Protect yourself from unexpected medical costs
Waiver of Contribution Supplementary Benefit (Death)
If you are seeking maximum protection for your family and want your Family Takaful certificate to be active even if you are not there to support them; this benefit is for you! With this add-on, your family will not just receive the lump-sum amount (sum covered) against the coverage you fixed initially to cover up the sudden financial burden, but Askari Life- Window Takaful Operations will waive the equivalent of the initial contribution of the basic plan for the remaining term up to the maturity of this supplementary benefit.
With this benefit, your family would not only receive the lump sum amount (sum covered) against the coverage that you fixed initially but will also receive the benefit at the maturity of this supplementary benefit.
With this benefit, your family would not only receive the lump sum amount (sum covered) against the coverage that you fixed initially but will also receive the benefit at the maturity of this supplementary benefit.
Waiver of Contribution Supplementary Benefit
(Disability); Special needs, special benefits
If God forbid, the person Covered gets permanently disabled, Askari Life-Window Takaful Operations will bear the annual initial basic contribution for the remaining term of this supplementary benefit, and the basic plan will continue till the maturity of this Supplementary benefit.
Accidental Death & Disability Supplementary Benefit
In the journey of life, you always walk the extra mile to provide a better future for your family. However, this journey of life is full of uncertainties; you never know how the future will unfold. In today’s scenarios, with the increase in the number of instances of accidents, it is imperative to shield your family’s future. As a responsible individual, you would like to safeguard your family’s future against such eventuality. Askari Life- Window Takaful Operations’ Accidental death and disability supplementary benefit offers additional financial security to your family in the event of an accident that may result in death or disability. With Askari Life- Window Takaful Operations Accidental Protection, you are assured that a substantial amount is paid to your chosen beneficiary(ies), in case of any unfortunate accident that may result in disability or sudden demise.
Level Term Family Takaful (Additional Coverage Option)
We all aim to ensure that our family is protected and financially secure, both now and in the future. And we do so by financially preparing for all circumstances. But what if we foresee expenses rising and want to suitably increase the protection level (sum covered)? Furthermore, with changing life stages, protection needs might change too; after getting married, becoming a parent or after your parents retire.
This add-on is specifically designed to ensure that the rising expenses of your family are taken care of. If you opt for the basic plan certificate along with this add-on, your nominated beneficiary(ies) will not only get the sum Covered or P.I.A value, but an additional amount of benefit (starting from Rs. 1 lac) attached due to this Level term family takaful benefit by paying a nominal Waqf Donation along with your basic certificate.
This add-on is specifically designed to ensure that the rising expenses of your family are taken care of. If you opt for the basic plan certificate along with this add-on, your nominated beneficiary(ies) will not only get the sum Covered or P.I.A value, but an additional amount of benefit (starting from Rs. 1 lac) attached due to this Level term family takaful benefit by paying a nominal Waqf Donation along with your basic certificate.
Critical Illness (CI) Supplementary Benefit
Everyone looks for medical coverage for unexpected emergencies and medical help. A critical illness can put the entire family in huge financial debt and crisis. To combat all the adverse circumstances, Askari Golden Path Family Takaful Plan offers critical illness supplementary benefit that provides coverage against major life-threatening diseases (mentioned in the CI supplementary benefit provision). In case you are diagnosed with any of the mentioned illnesses a lump sum amount of up to Rs. 2.00 million is paid. This lump sum amount is in addition to the main plan benefit.
Monthly Income Benefit
If you have chosen the monthly income supplementary benefit, then in case of any unforeseen circumstance in the covered person’s life as defined in the Provisions in this supplementary Documents, Askari Life-Window Takaful Operations will pay a monthly income to the beneficiary (ies) of the certificate for the remaining term of the supplementary benefit.
Disclaimer
Askari Golden Path Family Takaful Plan is a Shariah compliant Universal Life Family Takaful certificate which is subject to investment risk and the cash value of the plan will vary directly with the performance of the investment fund.
All family Takaful applications are processed and approved by Askari Life- Window Takaful Operations, as per their underwriting guidelines.
A personalized illustration of benefits will be provided to you by our sales representative. Please refer to the notes in the illustration for a detailed understanding of the various Terms and Conditions.
Investment Risk shall be borne by participants; actual maturity values or surrender values may be higher or lower than the project figures.
The past performance of the fund is not necessarily a guide or guarantee of future performance.
This brochure only provides an introduction to the benefits available under the Certificate. A detailed description of how the certificate works is given in the ‘Participant’s Membership Documents (PMD), which will be provided to every participant.
The contents herein are the intellectual rights of Askari Life-Window Takaful Operations.
In the event of any discrepancy, ambiguity and conflict in interpreting any information, terms, or conditions in this brochure, the participants membership documents (PMD) shall prevail and supersede.
Publication or duplication of this brochure by any third party is strictly prohibited.