Premium savers

Platinum Plus

Pay three yearly premiums, then stop. Your policy stays in force for 10 years, earning bonuses that State Life sets 50% higher than on a standard 10-year endowment. At year 10 you receive your sum assured plus all bonuses; if you pass away sooner, your family receives it.

✓Pay 3 yearly premiums only
✓Covered and earning bonuses for 10 years
✓Bonuses 50% higher than a standard 10-year endowment

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In simple words

How it works

Years 1–3
You pay
Three yearly payments, then you stop.
Years 1–10
Bonus added every year
Your cover continues and bonuses — 50% higher than a standard 10-year endowment — are added every year.
Year 10
You collect
The sum assured plus all bonuses. If you pass away first, your family gets it.

Who it’s for

Is this plan for you?

You have savings or surplus income now and want it working for you for 10 years.
You have a goal about 10 years away — a child's education, a wedding or an emergency fund.
You want cover for yourself or a child (entry from age 1) without paying for 10 years.

3Only 3 premiumsPay once a year for three years, then nothing further.

1010 years of coverLife cover and bonuses continue for the full 10 years.

↑50% higher bonusesBonus rates 50% above a standard 10-year endowment.

✓Government-backedSum assured and declared bonuses guaranteed by the Government of Pakistan.

Key facts

Plan type: Savings plan with life cover, sharing in State Life's profit
Entry age: 1 – 65 years
Policy term: 10 years
Premium term: 3 years (annual mode)
At the end: Sum assured + all bonuses added
If you pass away: Sum assured + bonuses so far, paid to your family
Yearly bonus: 50% higher than a standard 10-year endowment; once added, guaranteed by the Government of Pakistan
Grace period: 31 days to pay after each premium falls due

Optional extras (riders) you can add: Accidental Death Benefit (ADB) — an extra payout if death is caused by an accident. Term Insurance Rider (TIR) — extra life cover. Both subject to underwriting.

Need money during the plan? After the 3rd premium, borrow up to 80% of the policy's net surrender value (its cash value).

Cashing in early: You can cash in (surrender) the policy once it has run for 2 years in a row with no premium missed.

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 Platinum Plus

The Platinum Plus Plan is a conventional, with-profits endowment policy that gives 10 years of life cover, with premiums payable only for the first 3 years. After the premium period ends, the policy stays active — sharing in State Life’s surplus and bonus distributions — for the full 10-year term.

Bonus rates under this plan are 50% higher than on a standard 10-year endowment plan. It is designed for people who want a minimal premium commitment with medium-term cover and savings potential.

What needs it meets

Short premium commitment: pay for only three consecutive years and enjoy full 10-year cover.
Life protection and security: cover for the entire 10-year term, protecting your beneficiaries if you die during it.
Enhanced bonus potential: bonuses on maturity or death are 50% higher than on a standard 10-year endowment plan.
Savings and future planning: a savings-plus-protection plan that builds a cushion over 10 years, for medium-term goals, education funding or contingencies.
Flexibility and liquidity: surrender once the policy acquires value, and a loan facility if you need money during the term.
Who should consider it: people who prefer a short premium commitment with medium-term cover; who want a balance of savings and protection over 10 years; who want a bonus-enhanced endowment for education, contingencies or a lump-sum need; who value loan and surrender options; and who prefer a government-backed plan managed by State Life.

Plan features, payments and payouts

Plan type: Conventional, with-profits endowment (surplus participating)
Age at entry: From age 1 up to 65 years
Coverage term: 10 years
Premium payment term: 3 years only (annual mode)
Maturity benefit: If the insured survives the 10-year term, the policyholder receives the basic sum assured plus bonuses — bonuses 50% higher than under a standard 10-year endowment.
Death benefit: The beneficiary receives the basic sum assured plus bonuses accrued up to the date of death.
Bonus participation: A with-profits plan that shares in State Life’s actuarial surplus, with bonus rates 50% higher than a standard 10-year endowment. Bonuses and declared surplus are backed by the Government of Pakistan’s guarantee through State Life.
Surrender / early withdrawal: The policy acquires a surrender value after at least two consecutive years in force with no premium 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.
Grace period: 31 days after each premium due date.
Free-look period: The policy can be cancelled within 14 days of its commencement.
Optional riders: Accidental Death Benefit (ADB) and Term Insurance Rider (TIR), subject to underwriting and plan terms.

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 — premiums are payable for the first three years only; cover continues for the full 10-year term.

At State Life's 2025 declaration, Platinum Plus earned Rs. 32 per Rs. 1,000 of sum assured each year in policy years 1–5 and Rs. 120 from year 6, against Rs. 21 and Rs. 80 on a standard endowment of 14 years or less. On a Rs. 1,000,000 sum assured that is Rs. 32,000 a year at first and Rs. 120,000 a year later. Future rates are not guaranteed.

You receive the sum assured plus every bonus added to your policy.

After 2 years the policy can be cashed in (surrendered). After the 3rd premium you can instead borrow up to 80% of its cash value.

Yes — the Takaful Platinum Plus Plan.

Yes — within 14 days of the policy starting.