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Askari Life Insurance Plans

In our lives many times we have heard the proverb ‘It’s better to be safe than sorry’? Life can be greatly unpredictable, and it is better to be covered for all incidents. The volatility of life not only associates to death, but also to the ever-changing undercurrents of the financial sector that can cause serious inconveniences to an individual. With zero discrimination to your role, Askari life insurance plans provide financial safety for any family related emergencies with a worthy cash value at the time of policy maturity.

Plans Customization

Askari life understands that ‘One Size Fits All’ philosophy doesn’t sound right, you don’t have to worry. With various add-ons (riders) and benefit structures, we have customization options for the insurance coverage of corporate and individual clients. These may be tailor-made as per your specific requirements to cover you completely.

Group Life Insurance

Happy employees mean a happier and contented workplace and in turn drive a successful business. With the ever-changing dynamics of the business environment, it is extremely important to motivate your employees by providing them peace of mind in all situations.
The above has impact extending not only to the financial compensation that a corporation can provide, but also the added benefits and packages in case of any unforeseen event that cannot be predicted beforehand. Askari Life’s corporate insurance plans aim to take care of all your employees’ Pensions, healthcare and Life assurance benefits.

Individual Life Insurance

Askari life insurance plans have been carefully developed to fit your individual needs. The insurance plans provide maximum coverage in case of death or disability of the policyholder in case of an incident or even reimbursement of medical expenses to the insured in case of an incident.
The Askari life plans also offer a variety of group accident insurance products and services to businesses, government agencies and other organizations of all sizes.

Type of Askari Life Insurance Plans

Askari Life Nayab Plan

Are you working towards what it takes to live your dream life?

You need to plan. You need a financial planner who is there not just to grow your hard-earned income but save you from inevitable uncertainties life throws at you and give you a head start on your aspirations.

With the ever-changing global and domestic economic conditions, having a comprehensive monetary plan is fundamental for the realization of your dreams. A plan that connects all of a person’s financials yet is customized to his/her needs.

Askari Life Nayab Plan! A plan that works for the best of times and the worst of times. Our highly trained financial planners are well aware of your growing investment requirements and specialize in providing tailor-made financial solutions. We appreciate the individuality of each of our customer.

We understand the unique circumstances of each one of you. We want to be there for you at every step of your life’s journey. Because something as important as your dreams cannot be left to chance

Askari Life Nayab Plan Features

Protection Benefit

Protection Benefit as all of us want to live our lives to the fullest particularly when we know that our life ahead is well planned, and the future of our loved ones is well protected and safe against all uncertainties.

Askari Nayab life insurance protection benefit makes sure that complete financial security is delivered to your loved ones as in case of any unpleasant occurrence or even in the event of your absence. Your loved ones will be paid the sum assured or the accumulated account cash value of the insured, whichever is higher less the withdrawals and indebtedness.

Maturity Benefit

Why believe that life insurance is only a safety or protection net for your family? Through Askari Nayab life insurance plan maturity benefit can be redeemed when your policy gets mature, you will get the amount equal to your account value so you can fulfil your dreams of going on a family vacation or plan your child’s grand wedding or send them abroad for higher education.

Emergency Monetary Access

Usually, what do you do when you have an urgent requirement of cash? You either borrow it from someone of your acquaintance or sell your valuables. To protect you from all those hassles and to satisfy your urgent cash requirement, Askari Nayab plan offers a valuable loan facility and easy access to cash (of up to 50% of your total account value).

Free Look Period

We understand that a life insurance plan is a long-time commitment towards your financial goal to provide you with desired financial security and prosperity to yourself and your loved ones. However, after purchasing the plan in case you realize that you are not satisfied with the plan offers, you need not worry, as Askari Life insurance plans offer a free look period where you can return the policy documents within 14 days and get 100% refund of the money invested.

Inflation Protection

Through this exclusive benefit being offered by Askari Life, your contributions will grow every year by 5% of the previous years’ contributions. In addition to this, the cash value will also increase accordingly. This feature has been specifically designed to minimize the inflation effect on our policyholders.

Optional Benefits
  1. The Askari Nayab Plan offers Child Wedding Benefit; Our marriage vow
  2. It also provides School Fee Waiver
  3. It provides Hospitalization Cover to the policyholder in case of an accidental or medical emergency
  4. It offers a Major Surgery Benefit; A pain-less surgery
  5. This plan has Waiver of Premium (Death); Death does not do us apart benefit
  6. Askari Nayab also offers Waiver of Premium (Disability); Special needs, special benefits
  7. The plan provides accidental Death & Disability Rider
  8. It has also incorporated Level Term Rider; Cover Amplifier

Terms & Eligibility

Basic Premium Allocation

As you continue the policy towards its full term, your Account Value will be accredited with a proportion of Basic Premiums that you pay. The proportions allocated to your Account Value will be as follows:

Continuation Bonus

Annual continuation bonuses are provided to customers who continue the policy. The continuation bonus allocation is as follows:

Charges

Admin Charges

The initial admin charges are Rs. 100, which will increase by 10% annually.Investment Management Charges are 1.5% of the account value to be deducted annually.

Cost of Insurance

Concerning attained age and based on the mortality table.

Premium Expense

5% expense will be deducted from each premium.

Askari Life Zarkhez Plan

The recent global pandemic being Covid-19 that shook the world lately was an eye-opener for many as it made people value life even more. Looking at the situations that arise due to such circumstances, Askari Life continues to be there for you always and to create lively environments for you to thrive in. So, no matter what the conditions are, live your life to the maximum!

The Askari Life Zakhez Plan is a complete Package As we go through each stage in life, our financial responsibilities, our perspective on life and savings changes with time. Being conscious about your changing needs, Askari Life has designed the Askari Zarkhez which not only provides long-term protection from unforeseen circumstances but also brings prosperity into your life.

It does not matter whether you are at the beginning of your career, or you have just started a family, or you require funds for your child’s education or marriage or would like to plan for your retirement, all possibilities are safeguarded under the Askari Zarkhez.

You can go for a customized Plan with Askari Zarkhez, you can design the future you want for yourself! It provides you with the ease to personalize your plan according to your own goals and family’s distinctive lifestyle.

There are many flexible options that the plan provides, such as changing your investment and protection level as per your preference. In addition to this, you can also choose from various optional supplements with the help of Askari life certified financial advisor that will add more benefit to your policy and make it more fruitful.

Additional Investment Option (Top-up)

this feature provides additional flexibility to your existing plan. If you have any additional funds available with you at any stage you can place them as an investment under Askari Zarkhez during the course of the policy term that will further enhance your cash value invested.

Tax Credit with Askari Zarkhez, you can also gain a tax benefit, as per prevalent norms under section 62 of income tax ordinance 2001.

Cover Multiple (Life Insurance Protection)

A sudden death of a bread-winner can make many lives difficult. In that case, financial security for your family is of the highest priority. With Askari Zarkhez life insurance plan, you can ensure desired financial security for your family. You can fix a substantial lump sum amount as much as you anticipate would be enough to fulfil their future monetary needs which could be set as high as 200 times of the premium sum.

Askari Life Zarkhez Plan Features

Protection Benefit

Protection Benefit as all of us want to live our lives to the fullest particularly when we know that our life ahead is well planned, and the future of our loved ones is well protected and safe against all uncertainties.

Askari Zarkhez life insurance protection benefit makes sure that complete financial security is delivered to your loved ones as in case of any unpleasant occurrence or even in the event of your absence. Your loved ones will be paid the sum assured or the accumulated account cash value of the insured, whichever is higher less the withdrawals and indebtedness.

Maturity Benefit

Why believe that life insurance is only a safety or protection net for your family? Through Askari Zarkhez’s life insurance plan maturity benefit can be redeemed when your policy gets mature, you will get the amount equal to your account value so you can fulfil your dreams of going on a family vacation or plan your child’s grand wedding or send them abroad for higher education.

Emergency Monetary Access

Usually, what do you do when you have an urgent requirement of cash? You either borrow it from someone of your acquaintance or sell your valuables. To protect you from all those hassles and to satisfy your urgent cash requirement, Askari Zarkhez plan offers a valuable loan facility and easy access to cash (of up to 50% of your total account value).

Free Look Period

We understand that a life insurance plan is a long-time commitment towards your financial goal to provide you with desired financial security and prosperity to yourself and your loved ones. However, after purchasing the plan in case you realize that you are not satisfied with the plan offers, you need not worry, as Askari Life insurance plans offer a free look period where you can return the policy documents within 14 days and get 100% refund of the money invested.

Inflation Protection

Through this exclusive benefit being offered by Askari Life, your contributions will grow every year by 5% of the previous years’ contributions. In addition to this, the cash value will also increase accordingly. This feature has been specifically designed to minimize the inflation effect on our policyholders.

Optional Benefits

Apart from standard applicable benefits such as protection and investment, Askari Zarkhez also offers you additional benefits, and the liberty to choose from various optional insurance benefits, based on your goals and financial capabilities.

"Anmol Zindagi" is a complete health and life protection plan through which you get the liberty to choose amongst a range of exclusively considered packages (A, B and Anmol Zindagi Plus) as per your specific needs and affordability offering the following benefits:

Exclusive financial protection against Covid-19

Upfront financial support for treatment of chronic diseases like Heart, Cancer, Organ transplant and Neurological disorders

You can also upgrade plan to “Anmol-Zindagi Plus” which offers

  1. This plan offers monthly Income benefit
  2. Child wedding benefit
  3. It offers school fee waiver in the Anmol Zindagi plus plan
  4. This plan also offers hospitalization coverage, Hospital’s stay daily expense will be covered for up to 60 days in case of an accident (Maximum coverage up to Rs. 300,000 for the insured)
  5. You can also avail major surgery benefit
  6. Anmol Zindagi plus also offers a waiver of premium in case of death
  7. It offers a waiver of premium in case of any disability due to any special needs or special benefits
  8. The plan has built-in accidental death and disability rider
  9. It also has incorporated critical illness rider

Askari Life Insurance Policy Terms and Eligibility

Minimum Entry Age Maximum Entry Age Minimum Policy Term
18 ( Age Next birthday) 80 Years (Age Next Birthday) 10 Years
Minimum Premium buying term Maximum premium buying term Maximum Policy Term
5 years Equal to policy term Up to age 85 years

Basic Premium Allocation

Policy year % of basic premium allocated to account Surrender Changes as % of account value
1 85% 100%
2 90% 50%
3 90% 25%
4 and onwards 100% NIL

Askari Life Insurance Claim Procedure

  • The claim should be intimated in written form after the occurrence of an insured contingent event.
  • The intimation should be made by post to the Head Office at Karachi or nearest branch or Regional office of the Company.
  • Upon receipt of intimation, the claim department will note the intimation for further procedures after assessing the type of claim and send a notification letter with the requisition of initial documents.
  • Askari Life claim department will be in contact with the applicant to try to gather all information and facts of the matter. The co-operation of the applicant will enable the Askari Life Insurance
  • Company to reach the final decision as soon as possible.
  • After receiving all necessary documents of claim, the Askari life claims Department will check the papers per approved plan. All the documents will be forwarded to the Internal Audit department to check the compliance of law and application of other Inspection procedures.
  • Once the file is cleared by the Internal Audit department, a discharge voucher will be sent for the consent of claimant on the final claim amount and verification of signature by the corresponding bank along with applicants account number and branch information.
  • A cross cheque by Askari life insurance will be dispatched through your nearest branch as per details mentioned in the signed discharge voucher.

Askari Life Insurance FAQs

The payment can be made via cross cheque in favour of the organization or by making an online transaction into the organisation account.

You can check the status of your purchased policy via contacting Askari Life helpline

You can renew the policy by contacting the provider through a helpline or reaching out to them through their online form or support email before the policy expires.

The company will settle your claim after in-depth analysis and submission of the required documents.

You shall receive the pay-out as soon as all the documents are aligned and all the details required are sorted by the insurance providers.

You can cancel the policy during your free look period and receive a 100% refund on the premium payment made within 14 days. You can contact Askari life Helpline and get your 100% money back.