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Yes, Health takaful will be mandatory in Health Plan.
All funds will be eligible under the health plan based on management discretion.
Premium/contribution will be deducted in advance from the investment balance on annual basis. However, the first premium/ contribution will be deducted upfront from the fund with the highest balance after CBC and every subsequent premium/contribution will be done on the renewal date subject to successful CBC.
Yes, there are 5 options available based on coverage, minimum investment amount and annual premium/contribution.
Only one Health Takaful plan on one CNIC.
No, pre-existing conditions are not covered.
No, maternity related benefits are not covered.
No, the minor is not eligible for Health Takaful Plan.
No, option once selected cannot be changed.
No, Fund to Fund from one underlying fund to another will not affect the health takaful.
Yes, a separate account will be opened.
All other transaction forms will be the same.
Minimum investment depends on the health takaful option selected by the investor.
Yes, an investor can select a lower option even if the investment amount allows him to select a higher option. However, the load will be charged on the entire investment amount and premium/contribution will be according to the option selected.
Health takaful is only for principal account holders.
Yes, account can be opened by individuals of age up to 18-59 years.
Yes, there is a separate Health takaful form and will be mandatory.
Yes, CBC will be mandatory prior to deduction of premium/contribution. Further, one (1) month before the expiry of the takaful, a letter will be sent to the investor intimating them about the balance requirement and shortfall (if any) to continue availing the selected option.
No, optional life takaful is not available under this plan.
A load of 3% will be charged on the plan, as per the investment amount and matrix in constitutive documents of the relevant funds.
No, account to account transactions will not be allowed.
Yes, all value-added services will be available.
Premium / contribution will be deducted from the fund with the highest investment balance at the date of premium / contribution deduction. In case of insufficient balance in one fund, it will be deducted from multiple funds based on balance. If investment is made in more than one fund with same amount, the premium / contribution will be deducted in following sequence;
Health Takaful will commence from the date of issuance of the card.
No, premium/contribution once deducted is not refundable.
The minimum balance at the time of renewal should not be less than the minimum investment of the selected option.
Yes, the exchange of unit transactions are allowed under the plan.
In case the balance is not sufficient i.e. below minimum investment amount as per the selected option, the policy will not be renewed and the account will be marked as a normal account without health coverage.
No, there will be no automatic upgrade to the next option.
Once the individual reaches the age of 60, the account will be marked as normal and the investor will be informed accordingly.