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Do you have any idea how to make best use of the your "IDLE MONEY" in the bank?Today's post is about this very important topic.Please pay attention to this article.If you have some better idea and better plan of investment then please share with us.
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Ikram Ul Haq MIrza
Your Life Insurance Analyst
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PENSION SCHEME by single premium".It has many great features but the best part of the featuures is that life insured's single premium paid 6 years ago is returned (ON DEMAND) to the life insured's bank account.At the same time an equal amount of premium is also deposited in the account of the policy holder. Thus when the policy completes 6 years policy holders investment is double.This is by no way a bad option.As far as return on the investment after 6 years is concerned it is one of the best option if not the best.
Here your investment is safe and secure.The premium is paid only once.When policy completes 6 years and enters in the 7th year the policy holder has the option to.1.Either tell the state life to discontinue the policy and pay him double the amount of his investment.Again the procedure of payment is very simple.You only need to fill simple form and give your confirmed bank account Number.You will also have to submit photocopy of your CNIC.We have made it very clear on many occasions that the contract issued by state Life (USUALLY CALLED POLICY BOND) is a very important document.When policy holder after 6 complete asks State life to terminate the contract and pay him double the amount The State Life will demand ORIGNAL POLICY BOND.2.The policy holder tells state life to continue the policy.
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