For your children

Child Education & Marriage Plan

Official name: Child Education & Marriage Plan (Table‑76)

Save for your child's university or wedding. You choose the date, and the plan pays a lump sum with bonuses on that date — even if you are no longer there to see it.

✓Money on the date you choose — for university or a wedding
✓If you pass away, payments stop and your child still gets it
✓Yearly bonus added, guaranteed by the Government of Pakistan once declared

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In simple words

How it works

Today
You choose the date
Set the plan to end when your child needs the money — any term from 10 to 24 years.
Every year
You pay, bonuses are added
Pay a fixed amount; State Life adds a bonus to your savings every year.
On the date
Your child gets the money
The full amount plus bonuses, in one go or in five yearly parts. If you pass away first, payments stop and it is still paid on time.

Who it’s for

Is this plan for you?

You have a child under 12 and want university fees ready when they turn 18.
You want a wedding fund built gradually, without loans later.
You want the plan to complete for your child even if something happens to you.

🎓Money on the dayYour cover plus bonuses, paid on the date you chose.

⌂Carries on without youIf the parent passes away, payments stop and the money is still paid on time.

₨In one go or in partsTake one lump sum, or five equal yearly parts for university fees.

✓Government-backedYour cover and declared bonuses are guaranteed by the Government of Pakistan.

Key facts

Plan type: Child savings plan (education / marriage)
Entry age (parent): 20 – 60 years
Child's age at entry: 1 – 15 years
Policy term: 10 – 24 years (maximum maturity age 70)
At the end: Cover (sum assured) + bonuses — in one go or in five yearly parts
If the parent passes away: No more payments; the money is still paid on the planned date
Yearly bonus: Yes — once added, guaranteed by the Government of Pakistan

Optional extras (riders) you can add: On the parent: Accidental Death Benefit (ADB), Term Insurance Rider (TIR), Accidental Indemnity Benefit (AIB), Family Income Benefit (FIB), Waiver of Premium (WP), Special Waiver of Premium (SWP). WP and SWP cannot be added together with AIB, and the yearly FIB income must be between 10% and 26% of the sum assured. No rider is available on the child's life.

Need money during the plan? Borrow up to 80% of the policy's net surrender value (its cash value) once the third premium has been paid.

Cashing in early: You can cash in (surrender) the policy after two full years' premiums have been paid.

Changed your mind? You have 14 days after the policy starts to cancel it and get your premium back (the “free-look” period, subject to State Life terms).

Read the full official product page on statelife.com.pk

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Full details from State Life

Everything State Life publishes about the Child Education & Marriage Plan

The Child Education & Marriage Plan is a conventional, with-profits endowment policy that secures a child’s future needs — education, marriage or starting a business — by paying a lump sum when the child reaches a chosen age, typically 18, 21 or 25.

It lets parents or guardians build a financial reserve steadily over the policy term, with life cover and a share in State Life’s surplus. Depending on the variant chosen (with or without a built-in Family Income Benefit), it can also provide a regular income to the child if the parent dies.

The plan suits parents or guardians committed to long-term financial planning for their child’s major milestones.

What needs it meets

Financial security for major life events: funds will be there when your child needs them — for education, marriage or launching a business.
Protection if the parent dies: future premiums are waived and the policy stays active, so the child still receives the planned benefits.
Savings with flexibility: disciplined saving plus life cover, building a fund without worrying about market ups and downs.
Flexible policyholder: the plan can be taken by parents, guardians, grandparents, uncles or aunts — anyone responsible for the child’s maintenance or upbringing.
Who should consider it: parents or guardians securing a child’s education, marriage or business start-up; families who want the child looked after even if a parent dies; caregivers other than parents; and anyone wanting disciplined savings with life protection and a share in bonuses.

Plan features, payments and payouts

Plan type: Endowment with surplus participation of 97.5% (conventional, with-profits)
Age at entry: Child: 1 – 15 years. Payer (policyholder): 20 – 60 years.
Term: 10 – 24 years, set so the benefit becomes payable when the child reaches age 18, 21 or 25. Maximum maturity age 70 (age nearest birthday).
Bonus participation: State Life announces a bonus every year according to its actuarial valuation, and 97.5% of its surplus is distributed as bonuses to all with-profit policies. The bonuses declared by State Life are guaranteed by the Government of Pakistan.
Where the funds are invested: State Life has a comprehensive investment policy and invests its funds in government securities, blue-chip equities, banks and similar avenues.
If the payer dies: Future premiums are waived and the policy carries on, still sharing in State Life’s surplus. At the end of the term the child receives the sum assured plus the bonuses for the entire term, as a lump sum or in five equal yearly instalments. Under the variant with a built-in Family Income Benefit, a regular yearly income (at a rate per 1,000 of sum insured set in the policy terms) is also paid to the child until maturity.
If the child dies: The policyholder can choose to: (1) continue the policy for another child; (2) take the higher of the premiums paid so far or the policy’s cash value, and end the contract; or (3) continue the policy without naming another child, in which case option (2) is no longer available.
Maturity benefit: Basic sum assured plus accrued bonuses, payable on the maturity date — as a lump sum or in five equal yearly instalments (for example, to spread education fees).
Surrender / early withdrawal: The policyholder can surrender the policy after 2 years’ premiums have been paid. The policy acquires a surrender value after at least two consecutive years with premiums paid and none in default.
Loan facility: After the third premium has been paid, the policyholder can take a loan of up to 80% of the net surrender value of the policy if they need money. (Subject to State Life’s rules.)
Free-look period: The policy can be cancelled at the option of the policyholder within 14 days of its commencement date.
Grace period: Premiums can be paid to State Life within a grace period of 31 days after they fall due.
Underwriting: The plan is subject to underwriting as per the standard practice of State Life.

Optional add-ons (riders)6 supplementary contracts you can attach

Accidental Death Benefit (ADB): If this supplementary contract is taken, an amount equal to the basic sum assured becomes payable on accidental death (God forbid) during the term of the policy.
Term Insurance Rider (TIR): If this supplementary contract is taken, an amount equal to the basic sum assured becomes payable on death (God forbid) during the term of the contract.
Accidental Indemnity Benefit (AIB): If this supplementary contract is taken, an amount equal to the basic sum assured becomes payable on accidental death (God forbid) during the term of the policy. A proportionate amount of the sum assured is payable for the loss of two or more limbs or the loss of sight in both eyes. For other injuries, weekly indemnities are paid for total or partial disability, followed by an annuity payable for up to 10 years.
Family Income Benefit (FIB): If this supplementary contract is taken, an annuity of 10% to 50% a year of the basic sum assured is payable on death (God forbid) during the term of the contract, until the rider expires.
Waiver of Premium (WP): If this supplementary contract is taken, the premiums on the policy are waived on total or permanent disability caused by an accident.
Special Waiver of Premium (SWP): If this supplementary contract is taken, the premiums on the policy are waived during total or permanent disability that leaves the insured unable to engage in any occupation.

WP and SWP cannot be attached if AIB is also attached to the plan.
The yearly income under FIB cannot be less than 10% or more than 26% of the basic sum assured.
No rider is available on the child’s life.

Sample premium rates for a 20-year termWhat the plan costs per Rs. 1,000 of cover

Rupees per Rs. 1,000 of sum assured, per year
Age	Main plan	ADB add-on
20	48.00	1.25
25	48.16	1.25
30	48.42	1.25
35	48.91	1.25
40	49.83	1.25
45	51.54	–
50	54.43	–

How to read it: at age 35, a Rs. 1,000,000 sum assured costs 48.91 × 1,000 = Rs. 48,910 a year for the main plan, less a Rs. 500 rebate, plus the policy fee.

For rates specific to your age and term, please contact our representative.
A policy fee is applicable on the premium.
A rebate of 0.5 (per Rs. 1,000 sum assured) applies to the main plan premium for a sum assured of Rs. 300,000 or more.

General policy questionsClaims, loans, lapse and revival, nominations and more

To whom is a death claim payable?

Usually to the nominee, the assignee or the legal successor, as the case may be. If the policyholder did not nominate or assign the policy, or make a will, the claim is payable to the holder of a succession certificate or other evidence of title from a court of law.

What is a bonus?

State Life distributes its profits among its policyholders every year in the form of bonuses. Bonuses are credited to the policyholder’s account and paid at maturity, or on death if earlier. A bonus is declared as a certain amount per thousand of sum assured.

What are the medical and non-medical schemes?

Life insurance is normally offered after a medical examination of the person to be insured. To spread insurance more widely, and as a relaxation, State Life also offers cover without any medical examination, subject to certain conditions. This is called the non-medical scheme.

What is underwriting?

Underwriting means considering the material facts about a risk to decide whether to accept it and, if so, at what rate of premium.

What is surrender value?

The amount State Life pays if the policyholder chooses to end the policy before the end of its term.

Can a life insurance policy be sold?

No, a life insurance policy cannot be sold to raise money. It can, however, be assigned or mortgaged, provided it has been in force for a minimum stipulated period.

How are premiums on life policies calculated?

Mainly from the age of the person to be insured, the type of policy, the sum insured and the term of the policy.

What is the procedure to get a loan?

Apply on State Life’s prescribed loan form and submit it, duly completed, with the policy document.

How do I repay the loan?

The loan can be repaid in part or in full at any time during the term of the policy.

What are the automatic non-forfeiture options?

If the policy has acquired a surrender value and a premium stays unpaid beyond the grace period, the policyholder gets one of two options, depending on the choice made (if any) in the proposal. (A) Automatic paid-up: the policy becomes a paid-up policy, with the paid-up sum insured calculated to clear all of State Life’s outstanding dues against the policy. (B) Automatic premium loan: as long as the net surrender value is at least equal to the unpaid premium, State Life keeps the policy in full force and treats the premium as paid by creating an automatic premium loan against the net surrender value.

This product is underwritten by State Life Insurance Corporation of Pakistan. The past performance of State Life is not necessarily a guide to future performance. A personalised illustration of benefits will be provided by our representative; please read the notes in the illustration for the detailed terms and conditions. How the contract works is described in the policy privileges and conditions. This summary gives only a general outline of the product’s features and benefits, and the figures are indicative and for illustration only. Source: State Life official product page, checked 6 October 2026.

Government guaranteeYour cover and every bonus already declared are guaranteed by the Government of Pakistan.
You pay State Life directlyPremiums go to State Life Insurance Corporation, with an official State Life receipt every time.
Free adviceWe are an authorized State Life agency. Advice and your plan illustration are free, with no obligation.

Questions about this plan

Yes — the term is set so the money comes when your child reaches university or wedding age.

No more payments are needed, and the money is still paid to your child as planned.

Usually one plan per child works best; your advisor can set it up for your family.

Your cover and every bonus already declared are guaranteed by the Government of Pakistan; future bonuses are not.