UBL 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. UBL BetterLife Retirement Plan allows financial independence after retirement.

UBL Better Life Retirement Plan

Planning one’s 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 one’s needs.

  Better Life Retirement Plan
Investment Fund EFU Managed Growth Fund
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 Year 1 - 40%
  Year 2 - 80%
  Year 3 to 90%
  Year 4 to 10 - 100%
  Years 11 onwards 100% + “Loyalty Bonus Allocation"*
  Ad hoc - 100%
Loyalty Bonus Unit allocation If the plan remain continuously in-force, there is an extra unit allocation will allocated in the following years:
  Year 11 – 30%
  Year 16 – 45%
  Year 21 – 60%
  Year 26 – 75% and so on In later years
Cover Multiple
Age at commencement Protection Multiple
18 to 35 5 to 75
36 to 40 5 to 50
41 to 49 5 to 35
50 to 60 5 to (75-age)
61 to 65 5
Sum Assured Regular Basic Premium x Cover multiple  
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 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 60 per month (Deducted Annually)