The Committee Policy is a short-term savings and protection scheme offered by State Life Insurance. Here are the key details of the Committee Policy:
Eligible Ages and Terms:
Minimum Age: 20 years
Maximum Age: 50 years
Terms Available: 3 and 5 years only
Minimum Sum Assured: Rs. 75,000
Maximum Sum Assured:
For ages 20 to 40 years: Rs. 400,000
For ages 41 to 45 years: Rs. 300,000
For ages 46 to 50 years: Rs. 150,000
This policy offers a unique short-term savings and protection solution.
Policyholders can receive a lump sum amount of money at a specified time or in the event of death (God forbid), if it occurs earlier.
The policy is denominated in Pak Rupees, and all premiums and claims will be settled in Pak Rupees.
The policy does not participate in the Actuarial Surplus of State Life.
Premiums are payable on a quarterly basis.
Only Standard Lives are eligible to own this plan.
Premium is a level amount payable quarterly and is calculated as follows:
Basic Quarterly Premium = (Sum Assured) / (Term of Assurance x 4)
Term Insurance Rider (TIR) and/or Accidental Death Benefit (ADB) can be attached to enhance the coverage and protection offered by the Committee Policy.
This policy is designed for individuals looking for a short-term savings and protection solution, with the flexibility to receive a lump sum at a specified time or as a death benefit in case of an unfortunate event.
The policy's terms and coverage amounts are structured to provide financial security within a limited timeframe.
