_________________Zone LOAN SCHEDULE
Policy No.
Policy Holder Name
CNIC No.
Loan Amount (in figures)
Loan Amount (in Words)
Current rate
I/We the policy holder (s) named in the above table, in consideration of the loan of the amount stated in
the schedule received and hereby acknowledged that the privileges and conditions of the above said policy
which has been assigned to State Life Insurance Corporation of Pakistan as security for repayment of the
said loan , Mark-up and agree to the conditions which are stated below;
i. That the said loan shall bear compound mark-up/rate of profit or return with effective rate as
announced and declared by the State Life Insurance Corporation of Pakistan from time to time,
compounded annually.
ii. If the mark-up / rate of profit or return has been fallen due bur not paid, be added to the
existing loan and shall bear the same mark-up rate and conditions.
iii. Until the amount of the loan with mark-up / rate of profit or return are repaid in full, it shall
remain as a debt on the said policy and the amount shall be recoverable from the payable
proceeds of the policy privileges and conditions.
iv. If the loan plus mark-up / rate of profit or return together with any other encumbrances
exceeds the net surrender value, then the State Life can treat the policy as “Auto Surrendered”
v. On repayment of the loan amount, the mark-up / rate of profit or return will be charged first.
vi. If, I/We have previously opted Automatic Non-Forfeiture Option (A) i-e Automatic paid-up the
same may be converted / changed to Option (B) i-e Automatic Premium Loan.
Please pay to my Bankers: ________________________________ Branch _______________
Credit my Account No.SB/CD/PLS__________________________________________________
(Verification of Account from Bankers with proper stamp and signature)
I/We the policy holder (s), under the policy # __________________________ has /have
understand the terms and the conditions of the loan bond and agree to the above stated
conditions. (Policy holder)
Signature ________________________
Full Name ________________________
Contact No, _______________________
Signed at __________________ Dated __________________day of _________________________20
Witness (English Knowing)
I _________________________ having CNIC # hereby declare that by witnessing on loan bond, I have explained the policy holder about the
mentioned terms and conditions of the loan and policyholder(s) agree the terms conditions in
full.
Signature_____________________
