Group Family Takaful Fee Continuation Plan – for Educational Institutes

Plan Overview / Benefits

An educational institute is a second home to a child, grooming, educating, and protecting the child just as parents do. Therefore, educational institutions are integral to shaping the child’s future. It thus becomes a responsibility of a parent as well as the education institution to ensure continued education of a child. Should the unfortunate happen, this dream could become unachievable. Through this Plan, EFU Life takes up this crucial responsibility and arranges the continuation of providing quality education should any unfortunate event occur.

The fee continuation plan can be taken up by schools as well as colleges, universities and all types of educational institutes. This plan offers the following:

• Coverage of Parent or Guardian upto 60 years of age.
• Built-in inflation protection in annual contributions.
• Building the good-will of the institution.
• Contribution may be built-in the institute’s monthly or annual fee and projected as an additional benefit the institute is providing.
• Contributions are treated as allowable expense for tax purposes.

Riders

The EFU Group Family Takaful Fee Continuation Plan gives institutions the facility to tailor the package to their specific needs by choosing from a comprehensive range of additional benefits available. All covers are available on a 24-hours worldwide basis and cover both on-duty and off-duty risks.

Even though the additional benefits are subject to some exclusions, the basic life benefit is exclusion free and shall be payable in any case. Acts of terrorism such as fire-arm, murder, assault and assassination are covered as well.

• Accidental Disability Benefit (PTD – own and similar occupation)

The benefit provides for the full payment of the basic sum covered if the permanent and total disability by accident prevents the parent/ guardian from following his own occupation or any other similar occupation for which he is reasonably suited by reason of education, training or experience.

• Accidental Disability Benefit (PTD – any occupation)

The benefit provides for the full payment of the basic sum covered if the permanent and total disability by accident prevents the parent/ guardian from following his occupation or any other occupation.

• Natural Disability Benefit

This benefit provides for the payment of the full sum covered if permanent disability is caused by natural causes.

Data Requirement

The basic data requirement from the institute is the fee schedule for each grade and the number of students studying for the respective grade. Comprehensive data of a parent/guardian for each student shall be required i.e. name, date of birth and CNIC number.

New students and school-leavers may be adjusted on a monthly basis in the Plan.

Service Standards

At EFU Life we strive to provide you excellent services and serve you beyond your expectations. Having a friendly customer service and a dedicated consultant force, we ensure you the best of our attention at all times.

We have set up stringent service standards so that we may satisfy our customers consistently:

• Claim settlement within 7 days of submitting claim documents.
• Service response to business queries within 3 working days.
• ISO 9001-2008 certified operational procedures to ensure optimal quality services.
• Well-trained staff with strong Takaful background.
• Preparation of quotations within 3 days of quotation request.