EFU Takaful Education & Marriage Plan

You put all your effort in raising your children and want them to achieve 100% success in every challenge that life throws at them. You need a suitable financial plan that ensures you don’t compromise on your goals for your child’s future. EFU Life presents EFU Takaful Education and Marriage Plan which will help you to save systematically so that you can secure your child's future needs. EFU Takaful Education and Marriage Plan is a Shariah compliant Takaful plan that provides you with a complete financial planning solution to plan for your children’s future education and marriage no matter what uncertainty life unfolds. It is an investment-linked takaful product that helps you accumulate a savings fund over a period and also allows flexible additional protection benefits at any time during the plan term.

Disclosure of Product:
This is a Family takaful product which has two distinct elements i.e., Protection and Investment. The Investment Component is linked to the performance of underlying assets under unit linked fund(s).

Free Look Period:
If you decide to cancel your membership within fourteen days of receiving the membership document, you are entitled for a full refund of Contribution as a benefit less any expenses incurred by EFU Life - WTO in connection with our medical or clinical examinations.

Opportunities for Growth:

EFU Takaful Growth Fund | Fund Categorization: Balanced; Risk Profile: Medium: A unit-linked Participants' Investment Fund (PIF) comprising Shariah-compliant investments. The objective of the Fund is to maximize capital growth by investing in a portfolio spread across a wide range of investments such as Islamic mutual funds, approved equities, term deposits in Islamic Banks and Sukuk Bonds.

EFU Takaful Conservative Fund* | Fund Categorization: Income Fund; Risk Profile: Low: EFU Takaful Conservative Fund has a conservative investment allocation strategy and has low risk. This is a unit-linked Participants' Investment Fund (PIF) comprising of Shariah-compliant government securities, non-equity Shariah-compliant mutual funds, Shariah-compliant short-term deposits, and cash in Islamic banks or Islamic windows of conventional banks.

EFU Takaful Aggressive Fund | Fund Categorization: Aggressive; Risk Profile: High: A unit-linked Participants' Investment Fund (PIF) comprising Shariah-compliant investments, aimed at maximizing capital growth by using investments with an aggressive market outlook.

Multiple Funds Option: Under this option you have a facility to select a mix of two unit linked funds of the plan. Fund mix can be selected in the multiples of 10%. It means that the funds split can be of 90/10, 80/20, 70/30, 60/40 or 50/50.

*EFU Takaful Conservative Fund to be selected by default

Applicable Age and Tenure:

The participant should be between 18 and 65 years old. However, the maximum age at maturity cannot be more than 75 years. The term of the Takaful contract can vary between 10 and 25 years; subject to a maximum age of 75 at maturity.

Minimum Contribution Requirements:

For the participants the minimum contribution is 20,000 annually.


Following charges apply, on the basic Takaful Plan, are based on the principle of Wakalatul- Istismar:

  • An Allocation Fee will be charged, after which the remaining part of the contribution is as per the percentages mentioned below.
  • An Administration charge of Rs.150 per month will be charged.
  • Bid offer spread of 5% of net allocable contribution will be charged.
  • Investment Management fee of 0.125% of the fund value per month.
  • Partial Withdrawal Fee: Nil
  • Wakala Charge from Waqf Fund: 40% of the Takaful donation

Takaful Donation (Waqf Donation):
An age-based Takaful Donation applies for the Takaful cover each year and is dependent on the sum at risk. No Takaful Donation charges applies in years where the cash value exceeds sum covered.

What is Takaful?

Takaful is a Shariah compliant way of safeguarding yourself and your family against future financial losses. A Takaful product assists participants to share their risk on the basis of cooperation, brotherhood, mutuality and solidarity for the common good.

How does the Takaful Membership operate?

EFU Life’s Takaful model is founded on the Wakalah-Waqf principle. Individuals in the community come together for a common purpose and contribute into a Waqf Fund operated by a Takaful Operator to protect themselves against future financial losses. The following pictorial representation summarizes how your Takaful membership will operate with EFU Life - WTO:

What is Surplus Sharing?

Takaful offers a unique feature of Surplus Sharing to the Participants in addition to risk mitigation benefits. By contributing Tabarru (donation) into the Participant’s Takaful Fund (PTF), the participant may be entitled to a share of possible surplus funds. At the end of each year, EFU Life –Window Takaful Operations will determine the surplus in the PTF based on the method approved by the Shariah Advisor and Appointed Actuary.

What are the benefits of Surplus Sharing?

A part of the surplus may be distributed back to the participant in the form of Bonus Units through additional unit allocation in the Participant’s Investment Account (PIA). These Bonus Units will enhance the Cash Value of your Takaful plan.

Waqf Donation:

Waqf Donation, which depends on the Takaful cover and age of the Participant, will be transferred from Basic Plan Contribution into Participants Takaful Fund (PTF).


Continuation Benefit:

In the unfortunate event of death prior to the maturity of the plan, you would want to make sure that the future plans for your children are still fulfilled. The Continuation Benefit which is built into the plan will ensure that all future contributions will be paid by the PTF following the participant’s death until the plan’s maturity date. This means that the funds that you had planned for will still be available for your children.

Maturity Benefit:

At the end of the Membership Term and whilst the Participant is alive, the maturity benefit will be payable as follows:

The Basic cash value of Participant's Investment Account (PIA) Plus

The cash value from Fund Acceleration Contributions in the Participant's Investment Account. Cash Value: The value of units purchased against net contributions over the policy years.

Optional Benefit:

Takaful Accidental Death Benefit*: This benefit provides an additional lump sum benefit on accidental death participant.

Takaful Accidental Death and Disability Benefit*: In case of accidental death or disability of the Participant, this rider provides an additional lump sum benefit.

Additional Term Takaful: This benefit increases the level of Takaful cover by providing an additional amount in case of death of the participant.

Takaful Income Benefit: This benefit ensures that a quarterly income is paid to the family in case of the unfortunate death of the Participant during the plan term.

Takaful Waiver of Contribution: In case the Participant is unable to follow his/her occupation due to sickness or accident, the contribution of the plan would be made by WAQF Fund/PTF managed by EFU Life.

* Note: Only one of the two accidental supplementary benefits can be selected

Unit Allocation:

Year-wise allocation percentages of the participant’s contribution are shown in the table:


Unit Allocation %

Allocation Charges*










4- 5



6- 10



11- 15



16- 20



21- 25



100% of FAC payments are allocated to purchase units in the selected fund.
*An allocation Charges will be deducted from the Paid Contribution every year as per the above table and the remainder will be allocated to the PIA.

Fund Acceleration Contribution (FAC): In case the Participant has extra funds available, the plan provides the flexibility to channel these to the Plan and provide a boost to the savings. These lump sum contributions are called Fund Acceleration Contributions (FAC) and can be paid anytime during the year where policy is active. The minimum FAC payable is PKR 20,000 per payment.

Complete and Partial Surrender: If your circumstances change and you have a need for cash, you can encash your Plan for the Total Cash Value in the policy, at any time. Please remember that the value in the early years is likely to be low as the Plan is designed for long term financial planning needs. Alternatively, you may just want a small proportion of the capital you have built up. This Plan gives you the facility to make partial withdrawals at any time whilst continuing to make contributions. This facility is subject to at least Rs. 25,000 remaining as cash value after such withdrawals. Minimum Partial withdrawal amount should not be less the Rs. 20,000.

Indexation: Under this option the regular contribution will increase every year by 5% of previous years contribution with appropriate increase in benefits, without any medical evidence up till age 55 years.

Claim: In case of an unfortunate event, you may file your claim intimation through a Samba Bank Branch walk in (in case of Bancassurance Policies), visiting the EFU Head Office or by visiting any of the EFU branches in the country. For a swift speedy process you may also call us at our call center (021-111-338-436) or simply visit our website, fill in the intimation form and email it to us at cod@efuhemayahtakaful.com. Thereafter, you will be contacted for next steps.


  • This product is underwritten by EFU Life – Window Takaful Operations. It is not guaranteed or covered by Samba Bank or its affiliates and is not a product of Samba Bank. Hence EFU Life is responsible for all underwriting risk.
  • Samba Bank is just a promoter and corporate takaful agent of this product to its valued customers.
  • All Takaful Claims, charges and payments relating to the Takaful Policies shall be the sole and exclusive responsibility of EFU Life.
  • The contributions in the plan are invested in the EFU Takaful growth fund.
  • The past performance of funds is not necessarily a guide to future performance. Any forecast made is not necessarily indicative of future or likely performance of the funds and neither EFU Life – Window Takaful Operations nor Samba Bank will incur any liability for the same.
  • A personalized illustration of benefits will be provided to you by our consultant. Please refer to the notes in the illustration for detailed understanding of the various Terms and Conditions; you are required to fully understand the illustration and other terms and conditions of the plan.
  • Service charges and taxes will be applicable as per the Bank’s “Schedule of Charges” and taxation laws as stipulated by the relevant authorities.

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