UBL Better Life Savings Plan

UBL BetterLife Savings Plan is a high value savings and investment vehicle. Funds accumulated during the savings term can be utilized for children’s 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.

Better Life Savings Plan

  • Investment Fund EFU Managed Growth Fund
  • Minimum/Maximum Age at Entry 18-65 years nearest birthday
  • Maximum Age at Maturity 75 years nearest birthday
  • Available Term & Payment Range 10-40 years
  • Minimum Annual Premium 15,000
  • Unit Allocation as % of Basic Plan Premium Year 1 - 40%
  • Year 2 - 80%
  • Year 3 to 5 - 100%
  • Year 6 to 10 - 103%*
  • Year 11 & onwards - 105%*
  • *If Basic plan contribution is Rs. 20,000 or more.
  • Ad hoc - 100%
  • Sum Assured Regular Basic Plan Annual Premium x Term
    [For ages greater than 60 years, the Sum Assured is 5 times the Annual Premium]

  • Premium Payment Mode Annual
  • Partial Surrender Benefits Bid Value of Units requested for Partial Withdrawal. Amount of Partial Surrender may be subject to minimum amount and residual value determined by the company.
  • Policy Surrender Option Available, provided that two annual premiums have been paid by the policy owner
  • Ad Hoc Premium Allowed anytime during the policy is in-force
  • Death Benefit Sum Assured or Cash Value of units, whichever is higher. Plus
    Cash Value of the units applicable to FAP

  • Surrender Benefit – Preferable at Maturity (available after payment of two years premium) Bid value of units at time of surrender
  • Optional Riders/ Built-in ADDP(built-in), WOP(built-in), ATA, FIB and LC+
  • Applicable Charges Bid/Offer Spread: 5%
  • Investment Management Charge: 0.125% of fund value per month
  • Administration Fee: Rs60 per month