>   FAQs

What do my Policy Documents include?

    Policy Schedule - which mentions all the details about your policy such as your Policy Number, Name and Date of Birth, NIC Number, Date of Commencement, Date on which the Proposal was signed, Nominee, Benefit Structure of the Policy, Premium Due Date, Amount of Premium due, Mode of Payment and other Special Conditions in the policy.

    Policy Illustration ? which spells the projected cash value (your investment value) in future years. Please note that these projected values are based on certain growth assumptions. The final cash value would be based on the actual performance of the fund your premium is invested in. (This is applicable to unit linked plans only)

    Policy Provisions & Conditions - which describe all the legal aspects of insurance contract in detail and.

    Policy Card ? which would remind you of our close and long-lasting relationship (Applicable to Education Plan and Prosperity For Life Plan)

    We would request you to go through all the documents in detail so that you have a clear understanding of all aspects of your policy. Please check if everything is in correct order and accordance with your wishes. These documents are of high importance and should be kept in a safe place.

I have a query. How do I contact EFU Life?

    We love to hear from our clients! We consider your feedback crucial in our continuous effort to improve our services.

    Please feel free to contact us at any time for your queries, complaints, suggestions, or general feedback. You could write to us at our Head Office on:

    Client Services Department EFU Life Assurance Ltd 37-K Block 6, PECHS, Karachi- 75400 ? Pakistan.

    Or, you could email us at csd@efulife.com a which is a centralized email help desk located at Client Services Department.

    You could also fax us at +92-21-4537519 and +92-21-4537512

    In addition, a Call Centre has also been designated especially for you. The number is 111-EFU-CSD (111-338-273).

    You could call us for all sorts of queries, feedback, information etc. Our efficient and friendly Call Centre Agents will be glad to respond to your queries.

    Finally, you can also contact us through our Website via e-Services. Click here for more information on e-Services.

    Of course should you wish, you could visit us at the Head Office on the address mentioned above. Or, you can also walk into any of our branches located near you. You can easily locate your nearby branch through Branch Locator

When will my next premium be due?

    You can easily determine the ?Next Due Date? of your policy with the help of Commencement Date and mode of premium mentioned on your Policy Schedule.

    Let us explain: For example, if your policy is commenced on Yearly basis on 01/07/2010, the next premium due date of the policy would be 01/07/2011. Similarly, if the policy is commenced on Half-Yearly basis on 01/07/2010, the next premium due date of the policy would be 01/01/2011 and so on.

    May we mention here that the responsibility to pay the renewal premium lies on the policy holders; however as a matter of courtesy, we would help you in remembering the Renewal Date of your policy and would also assist you by collecting the premium payment on Policy Renewal due date.

    For your convenience, we do send Renewal Notices and SMS one month before each Premium Due Date. We also send reminder notices along with an SMS 15 days after the premium due date.

    Your Premium Details are also available online at all times. You can easily view them at your convenience via e- Services. Click here for more information on e-Services

    In case you wish to know further details of the due premium or are unsure of the exact premium amount, please feel free to call us on the number 111-EFU-CSD (111-EFU-CSD). We would be glad to explain the details.

How can I pay Renewal Premium?

You can pay your Renewal Premium via any of the following modes:

  • Cheque
  • Cash
  • Demand Draft
  • Pay Order
  • Online through Credit Card

Can I pay Renewal Premium through Credit Card?

Yes, Credit Card payments are surely accepted. The only condition is that the credit card must belong to you i.e. premium payment through third-party credit card is not accepted.

How can I pay my premium online?

IPaying your premium online is as convenient as browsing on internet. All you need to know is your User ID and Password along with your Credit Card details.

In our secure post-login section you can simply select the Policy due for renewal and pay your premium by entering your Credit Card details. Once the Credit Card details have been provided, an email would be sent to you confirming the status of your transaction.

As mentioned already that payment through third-party credit card is not accepted, we would urge you to kindly use a Credit Card under your name only.

I want to send my Renewal Premium.What should I do?

TRenewal Premium can be sent through multiple ways such as:

  • Send your premium Cheque / Demand Draft through Courier/ Mail Service to the PRIMUS Section located at Client Services Department of the Head Office. Please remember to write your correct Policy Number at the back of the Cheque / Demand Draft.
  • Drop your premium Cheque / Demand Draft at EFU Drop-Box located in a TCS branch near you. Please enclose your premium Cheque / Demand Draft in the EFU Drop-Box Envelope attached with the renewal notice sent to you.
  • These drop-boxes are cleared everyday (except for national holidays and Sundays) and are received at the Head Office the very next working day. In case you wish to pay renewal premium and the Renewal Notice along with the Drop-Box Envelope has not reached you, please call us at 111-EFU-CSD (111-338-273) and we will immediately send you the same.
  • Pay your renewal premium at any EFU Life Branch near you. A list of all our branches is available at our website www.efulife.com. You could pay through Cheque, Demand Draft, Cash or Credit Card at any of our branches and collect the provisional receipt. The final receipt will be issued and sent to you from the Head Office within few days of premium payment.
  • Contact your EFU Life Consultant who would personally visit you to collect the Premium.

I am residing abroad. Is there any way through which I can pay my Renewal Premium?

Sure, you can send us the Renewal Premium through any of the multiple ways such as Telegraphic Transfer, Cheque, Demand Draft or Pay Order at the following address:

MCB Bank Limited Nursery Branch (042) Fortune Centre Shahrah-e-Faisal Karachi ? Pakistan Swift Address: MUCBPKKAA Account Code: 1204-1 Title of Account: EFU Life Assurance Ltd.   Swift Address: MUCBPKKAA Account Code: 1204-1 Title of Account: EFU Life Assurance Ltd.

How do I get confirmation of renewal premium after I send the payment?

Once the total premium under your policy is received by us during the Grace Period, an SMS would be sent to you acknowledging that your premium has been received and the ?Receipt? and ?Confirmation Letter? will be mailed to you shortly.

Soon after your Policy Renewal, a ?Renewal Confirmation Letter? along with the Receipt will be sent to you at your correspondence address. This letter and receipt confirms that the policy premium is received and benefits are in-force till the next Premium Due Date. You should receive the confirmation letter within one week of your sending the premium.

If your policy incorporates ?Inflation Protection Benefit?, you would also receive an ?Amended Schedule? along with the Confirmation Letter and Receipt. This Amended Schedule is a part of the Policy Documents and should be kept in a safe place.

What if I am unable to pay the premium by the due date?

For your convenience, your policy provides for a 30 days Grace Period (starting from Premium Due Date) during which the policy will remain in-force even without the receipt of the premium.

Suppose, the next Premium Due Date of your policy is 01/06/2011. The 30 days Grace Period will end on 30/06/2011.

The Grace Period of my Policy has elapsed? How do I put my Policy back?In-force?

In case the premium does not reach us within the Grace Period, the policy lapses. ?Lapse Notices? are sent to all such clients in order to intimate them about their policy status.

Once the policy has lapsed, it must be ?Reinstated? to put it back ?In-force?. Reinstatement is the process by which the Company puts back into force a life insurance policy that has been terminated because of non-payment of renewalpremium.

I want to Re-instate my Policy? Do I have to submit any documentary requirements with the Premium? Are there any late payment charges?

The good news is that there are ?No? penalties on reinstatement. Should you wish to reinstate your policy, you will need to send us all the past due premiums along with a Reinstatement Application Form duly filled and signed by you. You will find this form attached with the Lapse Notice sent by us. In case you wish to get your policy reinstated and the lapse notice along with the Reinstatement Application Form has not reached you, please call us on the number 111- EFU-CSD (111-338-273) and we would send you the same. The Reinstatement Application Form is also available in the Downloads section.

If your policy has been lapsed for more than three months or a year, we would require a Special Health Declaration Form duly filled and signed by you. The form is available in the Downloads section of our website. Moreover, some additional requirements may also be called that would be determined after the underwriting process.

I want to make changes in the Plan I bought. What should I do?

You could surely make changes in your policy. In fact we recommend that you revisit your insurance and savings needs every year so that your policy benefits keep abreast with your needs.

One month before each policy anniversary, you could apply for changes in the plan. This could be a variation in the existing benefit structure or you may ask for additional benefits.

In order to understand your insurance and savings need, please talk to your EFU Life Consultant who will utilize his profound expertise to identify the policy benefit structure that best suits you.

In order to make changes in the policy, an ?Alteration Form? would be required duly filled and signed by you. Once a written request is received and all the requirements have been furnished, policy can be altered as per your wish.

Alteration Form is available in the Downloads section of our website. You could also get the same by calling us on the number 111-EFU-CSD (111-338-273). Our representative would be glad to guide you further in the Alteration Process.

What is Inflation Protection Benefit? How can I avail this option?

Inflation Protection Benefit gives you the security and peace of mind of knowing that the benefits provided by your plan will be automatically enhanced every year.

Once you select this option, the premium increases every year. This benefit protects you against the rising prices in the economy by proportionally increasing the sum assured of the policy along with the premium. It comes as a built-in feature in your policy and can be easily abandoned any time by simply paying the Premium amount paid in the previous year.

What happens at the time of Claim? How does one lodge a Claim?

A claim is a legal action to obtain benefits provided by your policy. It is necessary to be familiar with the benefits covered in your plan. These customized benefits are illustrated on your Policy Schedule included in the PolicyDocuments. The table also highlights the Sum Assured, Premium, and Term (Years) attached with those benefits.

The Provisions & Conditions of each benefit attached with your policy have been provided separately in the Policy Documents.

In order to submit a claim, please contact us at our Head Office. The details are mentioned in section Contact Us. You can reach us through any of the multiple ways that is convenient to you.

What is the procedure?What documents are generally required at the time of Claim?

Once the claim is lodged, the claim is assessed by our Claims Examiner who utilizes his/her expertise of handling claims. In the light of legal and medical aspects involved in the contract, a Claims Examiner then determine the documents necessarily required to assess a claim. Upon furnishing the said documents, claim is settled as agreed in the Provisions and Conditions of the Policy and the final decision is then taken by the Claims Committee.

May we mention here that the responsibility to furnish the said requirements lie solely on the claimant, however our consultant would assist you in completing the said requirements and keeping you updated about the status of claim. In the absence of complete requirements the assessment of claim becomes difficult and consequently affects the final decision.

The documents generally required to assess the claim are dependent upon the nature of claim. Hence, in order to know the requirements please call us on the number 111-EFU-CSD (111-338-273). Our representative would be glad to guide you further in the Claims process.

Who does one contact at the time of Claim?

In order to submit a claim, please write, email, fax, or call us at the Claims Section of our Client Services Department. You can reach us through any of the multiple ways mentioned in section Contact Us.

What if I want to pay the Premium in advance?

Sure, you could pay your premium in advance so that by the time next Premium Due Date arrives, the premium isalready there in your policy. Please do remember that the premium paid in advance remains un-allocated and lies in your policy as credit balance.

Premium is utilized only once the renewal due date arrives.

The following section is applicable to unit-linked plans only.

What is Unit Linking?

The element of investment is offered in Unit-linked Policies only. Unit-linking is comparatively a new concept to Pakistan but is a long established one in countries like UK where the majority of the very substantial individual life business written is on a unit-linked basis.

Under unit-linking system, insurance companies utilize a certain percentage of premium to buy units in an investment fund. The units of a fund are just like shares of any company but carry no dividends as such. These funds are managed by the experts who utilize their profound knowledge of financial markets to reap the maximum investment benefit for our clients. Of course, the performance of the fund is subject to economic conditions of the market and thereby the unit price of any fund varies due to prevailing market scenario.

As the funds are judiciously managed by investment experts, normally the trend of unit prices on a longer term remainsup-sloping. From the investment point of view, the growth and return attainable from the fund is usually favorable. A typical composite fund managed by the life company invests in:

  • Equity
  • Mutual Funds
  • Government Securities
  • Other Fixed Income Securities

How is my premium utilized?

The fundamental purpose of life insurance is to provide money to meet financial losses caused by death, disability, or illnesses. However, unit-linked life insurance policies also provide investment benefits ? that is, money payable on survival of the life assured rather than only on death.

Your premium is distributed in three elements.

P = Protection = The cost of the insurance cover or ?risk?. This cost is known as ?Mortality Charge?

I = Investment = The amount being invested in any of the EFU investment funds. This is also called as the ?Allocable Amount?

E = Expenses = The expenses of the Company such as Bid/ Offer spread, Administrative Charges etc.

The proportion of each element of the ?PIE? varies according to the type of policy which is described on the PolicySchedule included in your Policy Documents.

I wish to know the Fund my Policy is linked to?

Please note that EFU Life Assurance Ltd administers many funds including the following:

  • EFU Managed Growth Fund.
  • EFU Capital Growth Fund.
  • EFU Aitemad Growth Fund.
  • EFU Guaranteed Growth Fund.
  • EFU Pension Growth Fund.

Should you wish to know the name of the fund your policy is linked to, please refer to the Policy Schedule included in your Policy Documents. The name of the Fund is mentioned under the section ?Special Condition? on your Policy Schedule.

How can I measure the Investment in my Policy?What is Cash Value?

You can measure the investment build-up by looking at the ?Cash Value? of your policy.

Cash Value of a policy is defined as the amount that has been accumulated in the underlying investment fund to which that policy is linked.

How may I know the cash value of my Policy?

You can determine the cash value of your policy at any time by simply multiplying the number of units allocated in your policy to the Bid Price of the fund your policy is linked to.


Cash Value = Number of units x Bid Price of the Fund.

Let us assume, the total number of units allocated in your policy are 985.12. At a particular point of time Bid Price of the fund is Rs. 615.78/-. Hence the cash value of the policy at that time would be:

Cash Value = 985.12 x 615.78 = Rs. 6,06,617/-

How can I know the Bid Price of a fund?

The Bid Prices are published in the newspapers and can also be viewed on the Home page of our website. It is quoted daily (on all working days) after the valuation of fund.

What will be the final Cash Value of my Policy at its maturity?

TThe cash value of the policy is dependent upon the performance of the underlying fund to which your policy is linked. Since the performance of fund is subject to economic conditions, it is not possible to quote the exact cash value of your policy in advance.

However, your policy documents do include an Illustration which depicts the projected cash value of your policy based on certain assumptions. As mentioned above, the actual value of the policy will depend upon the performance of the fund and the final value may be different to the one projected in the illustration.