Life is unpredictable, we must
keep this fact in our minds at all times.
We often experience things that
we did not think about, and most of the time, we struggle to cope up with these
experiences because we did not plan on these matters and we are just clueless
about them.
That’s a lot of stress right
there!
To save yourself from mental and
financial distress, we advise that you get financial security in the form of
insurance.
This article will focus on all
the important aspects of insurance. If you are someone who needs to know about
insurance companies in Pakistan, this article is for you.
But, Why all the Hype about Insurance Companies?
The concept of insurance is
getting popular day by day, especially in South Asia. In Pakistan, people are
skeptical and in most cases, unaware of insurance. It is crucial to know inside
out of insurance, especially in today’s fast-moving and unpredictable era.
Insurance is basically a method
by which you transfer or mitigate your personal risk. When you get insurance,
you are actually shifting the responsibility of your loss to the insurance
companies (under certain terms and conditions).
The companies further mitigate
the risk by spreading it over a number of people or firms. These people pay a
premium (a set amount of money) that will be used to pay for your loss caused
by different circumstances such as fire, accident, illness, or death.
Different insurance companies
provide different kinds of insurance, depending upon your needs and preference.
Major types of insurance include:
·
Life Insurance.
·
Property Insurance.
·
Fire Insurance.
·
Liability Insurance.
·
Guarantee Insurance.
·
Social Insurance.
But, Why should I get Insurance?
Let’s get this straight:
Insurance provides security in the long run.
As I already mentioned, life is
unpredictable. You never know when you will be needing financial aid. Instead
of relying on relatives and loans, it is a good idea to get yourself insured.
Some of the major pros of
insurance are:
It gives you financial protection
i.e. you do not have to rely on external sources for money.
It will give you peace of mind
and you will not have to worry about the forthcoming.
It will allow you to mitigate
risk.
In Pakistan, there are many
insurance companies that are providing insurance on easy terms and conditions.
Some of the major insurance companies are thoroughly discussed in this article.
So, let’s get started!
|
Insurance Company |
Website |
Contact |
|
1. Jubilee Life Insurance |
+92-21-35205095 +92-21-32120201 |
|
|
2. EFU Life Insurance |
+92-21-111-338-111 |
|
|
3. Adamjee Insurance Company |
+92-42-35772960-79 |
|
|
4. Alfalah Insurance |
+92-42-111-234-222 |
|
|
5. State Life Insurance Corporation of Pakistan |
+92-21-99202800-9 |
1. Jubilee Life Insurance
Jubilee Life Insurance associates
its brand with the word “happiness” and that too, for all the right reasons.
Jubilee Life Insurance is known among the masses because of their exceptional
services and easy terms and conditions.
Jubilee offers the following
insurance policies for its customers:
Individual life insurance (helps
you save money for your child’s needs including his/her education, medical
care, and marriage).
Bancassurance (a one-stop-shop
for all your banking, insurance, and financial requirements).
Micro-insurance (an insurance
policy specially designed to cater to the needs of underprivileged people).
Corporate insurance (an insurance
policy specially designed for the corporate world)
Online insurance
Family Takaful (an insurance
policy that is per the sharia laws).
Contact: +92-21-35205095,
+92-21-32120201
Website: Jubilee Life Insurance
2. EFU Life Insurance
EFU Life Insurance began its
tasks in 1992 as the main private life coverage in Pakistan. EFU is known to
have the biggest monetary base in the private area with the most generously
compensated capital of around 1Billion. It is viewed as one of the most amazing
insurance agency in Pakistan.
EFU offers its clients a broadened
portfolio with the best worth items. The organization likewise furnishes you
with a versatile application, known as EFU Life PlanIT. You can without much of
a stretch track your records and data through this application. Likewise, EFU
Life Insurance is the main disaster protection organization in Pakistan to be
ISO ensured.
Some of the major product
offerings by EFU includes:
Unit-linked products
Critical Illness Products
Education Planning Product
Inflation Protection Benefit
Pension Plans
Contact: +92-21-111-338-111
Website: EFU Life Insurance
Get to know about insurance
companies in Pakistan.
3. Adamjee Insurance Company
The next insurance company on our
list is Adamjee Insurance Company. AICL began its procedure on 28th September
1960 and as of now, it is viewed as the biggest general insurance agency in
Pakistan.
AICL is a worldwide name, having
its presence in different locales, for example, the United Arab Emirates.
The company deals with the
following classes of business:
Engineering insurance
Fire & property insurance
Health insurance
Marine insurance
Motor insurance
Travel insurance
Agriculture insurance
Miscellaneous insurance
Financial lines insurance
Liability lines insurance
Personal accident insurance
All the insurance services
offered by the company are IS0 9001 certified. Apart from this certification,
the company has also received national and international recognition in the
form of awards and certificates.
Contact: +92-42-35772960-79
Website: Adamjee Insurance
Company
4. Alfalah Insurance Company
Probably the most recent player
around is Alfalah Insurance Company which is an endeavor of Abu Dhabi Group.
The organization is working in every one of the significant urban areas of
Pakistan including Islamabad, Karachi, and Lahore.
The company deals in many kinds
of insurance policies including:
Health Insurance
Motor Insurance
Property Insurance
Marine Cargo Insurance
Energy Insurance
Engineering Insurance
Miscellaneous Insurance
The Pakistan Credit Rating Agency
(PACRA) recently upgraded the rating of the company, granting it the “AA”
category. This category depicts a strong financial position and top-notch
services. So, if you are looking for an insurance policy for yourself, Alfalah
Insurance Company should be on your list.
Contact: +92-42-111-234-222
Website: Alfalah
Insurance
5. State Life Insurance Corporation of Pakistan
State Life Insurance Corporation
of Pakistan is an administration possessed body that is giving an assortment of
insurance contracts to its clients. It is one of the most well-known insurance
agency in Pakistan. Likewise, State Life best the rundown with regards to the
life coverage organizations in Pakistan.
It not only offers individual
policies but it also deals with group plans.
Some of the individual plans
offered by the corporations are:
Whole Life Assurance.
Endowment Assurance.
Shad Abad Assurance.
Anticipated Endowment Assurance.
On the other hand, other
categories of insurance include:
Jeevan Sathi Assurance
Child Protection Assurance
Wealth Builder Plan
Supplementary Covers
Health Care Plans
Interestingly, the state bank
website also provides you with a whole variety of calculators that you can use
to calculate insurance. The calculators available on the website are:
Whole Life Assurance
Endowment Assurance
Jeevan Sathi Assurance
Contact: +92-21-99202800-9
Website: State Life Insurance
Corporation of Pakistan
So, these are some of the best
insurance companies in Pakistan. Go through their details and choose the one
that suits your needs the most. Also, let us know why you think insurance is
important for us. We would love to hear from you. Get to know home loan in Pakistan
Disclaimer:
None of the information published
in this article should be construed as investment advice. We strongly advise
our readers to always do their due diligence before investing in any project.
It is the reader’s responsibility to know the laws regarding investments in
their region. Get to know imran khan naya Pakistan housing scheme.
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