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UBL BetterLife-Bancassurance
 
     
 
 
UBL BetterLife Plans under the umbrella of Bancassurance, in partnership with EFU LIFE Assurance Company are available at over 365 Branches.

What is Bancassurance?

Bancassurance is the selling of insurance and banking products through the same channel, most commonly through bank branches.


Product Offering

UBL BetterLife plans are advanced insurance products specifically designed to benefit the customers, providing the better and secured future to your family and loved ones.

Initially, we plan to offer the following product types:

 Plan Name

Description
UBL BetterLife Child Education Plan Accumulation of target funds for education of your children and ensuring that goal is achieved even if the parent dies earlier.
For more details, Click here
UBL BetterLife Marriage Plan Endowment funds for your children in an organized and disciplined manner for use in later life.
For more details, Click here
UBL BetterLife Savings Plan Flexible open ended savings product with life insurance protection to your family and loved ones.
For more details, Click here
UBL BetterLife Retirement Plan Accumulating retirement funds for your regular retirement income. For more details, Click here
 

The above plans can be customized further to meet your needs by attaching the following riders with the basic plan:

Additional term assurance
This rider increases the level of life cover by providing an additional amount in the range of 50% to 300% of the sum assured / insurance cover of the main plan.
   
Life-care benefits
On the diagnosis of a critical illness, this rider provides an additional amount equal to the basic sum assured / insurance cover. The basic policy continues after this payment.
   
Waiver of premium rider
In case the life assured is unable to continue his/her occupation due to sickness or accident, the contribution to the plan will be made by EFU Life.
   
Family income benefit rider
In case of death of the individual during the term of this rider, a monthly income of 1% or 2% of the basic sum assured / insurance cover is paid for the remaining term to his family.
   
How does the plan work?

Contributions to the plan are invested in an internal investment fund of EFU Life called the “EFU Managed Growth Fund” and utilized to buy units of the fund from the market. The objective is to maximize capital growth by investing in a balanced portfolio spread across a wide range of shares, government and other fixed interest securities and cash.

The Fund is managed by investment experts who adjust the mix of the underlying investments in light of economic conditions and investment opportunities.

 
 
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