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EFU Better Life Retirement Plan
EFU Life Assurance Limited
Planning one’s retirement is vital to ensure that a decent standard of living is maintained without being a burden on anyone. EFU BetterLife Retirement Plan allows financial independence after retirement.

EFU Better Life Retirement Plan

EFU Better Life Retirement Plan is an investment-linked insurance product which plays a vital role to ensure that a decent standard of living can be maintained without being a burden on anyone. This plan allows financial independence after retirement premiums in this plan are invested in accumulated units to build up a 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 one's needs.

  EFU Better Life Retirement Plan
Investment Fund
  • EFU Managed Growth Fund - (Fund Categorization: Balanced, Risk Profile: Medium)
  • EFU Guaranteed Growth Fund* – (Fund Categorization: Money Market Fund, Risk Profile: Low)
  • EFU Income Growth Fund and – (Fund Categorization: Income Fund, Risk Profile: Low)
  • EFU Aggressive Growth Fund (Fund Categorization: Aggressive, Risk Profile: High)

*GGF to be selected by default

Minimum/Maximum Age at Entry 18-65 years age next birthday
Maximum Age at Maturity N/A
Available Term & Payment Range Whole of Life
Minimum Annual Premium 15,000
Unit Allocation as % of Basic Plan Premium
Policy Years Unit Allocation % Allocation Charges**
Year 1* 57.5% 42.5%
Year 2 80% 20%
Year 3 90% 10%
Year 4 - 10 100% 0%
Year 11 & onwards 100% + “Loyalty Bonus Allocation"* 0%

*First year allocation is valid from 1st July 2023 to 30th June 2024.

**An allocation charges will be deducted from the Paid Premium every year as per the above table and the remainder will be allocated to the account value.

Loyalty Bonus Unit allocation If the plan remain continuously in-force, there is an extra unit allocation will allocated in the following years:
Policy Years Loyalty Bonus Allocation%
Year 11 30%
Year 16 45%
Year 21 60%
Year 26 75%
Year 31 & onwards 90%
Cover Multiple
Age (years) Protection Multiple
18 to 35 10 to 75
36 to 40 10 to 50
41 to 49 10 to 35
50 to 60 10
61 to 65 5 to (70-age)
Sum Assured Regular Basic Premium x Cover multiple  
Premium Payment Mode Annual/Half Yearly/Monthly/Quarterly
Disclosure of Product This is a life insurance product which has two distinct elements i.e., Insurance Protection and Investment. The Investment Component is linked to the performance of underlying assets under unit linked fund(s).
Free Look Period If you cancel your policy within free look period of 14 days from the date of the documents receipt, you are entitled for a full refund of premium less any expenses incurred by EFU Life in connection with our medical or clinical examinations.
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 Allowed, 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 (available after payment of two years premium) Bid value of units at time of surrender
Optional Riders/ Built-ins ADDP (built-in), LC+, WOP, ATA and FIB
Retirement Option The plan allows the assured to opt for a retirement age of between 60 to 70 years. At retirement, assured may opt for regular pension payments.
Applicable Charges Bid/Offer Spread: 5%
  Investment Management Charge: 0.125% of fund value per month
  Administration Fee: Rs 90 per month (Deducted Annually)

Mortality Charge (Cost of Insurance): An age-based mortality charge applies for the life insurance risk each year and is dependent on the sum at risk. No mortality charges applies in years where the cash value exceeds sum assured.

Fund Switching Fee: PKR 500/-

Surrender Processing Fee: PKR 500/-

Surrender Charge: 100% for the first year

Allocation charges: As per the above Unit Allocation table

Claim In case of an unfortunate event, you may file your claim intimation through any UBL Branch walk in, visiting the EFU Head Office or by visiting any of the EFU branches in the country. For a swift speedy process, you may also call us at our call center (021-111-338-111) or simply visit our website, fill in the intimation form and email it to us at Thereafter, you will be contacted for next steps.