In simple words Insurance means safety from the various financial losses. Insurance is actually an agreement between a policyholder and the company, where the company promises to compensate in terms of money against different losses, for instance, accident, illness, or death in a specific condition.
In other words, you can say that Insurance is a legal contract or deal done by someone to protect hirself from the risk of loss, in case something worst happened to that person, thing or place which is ensured through proper contract, in a result that insurance company will pay the amount of the submitted premium. A large number of people all over the world would know the importance of insurance, so it’s not possible that the people of Pakistan could not aware of the insurance policies.
What Are The Types Of Insurance Available In Pakistan?
Insurance in Pakistan is working under the insurance ordinance 2000. In the year of 1958, the government of Pakistan has established the official department for insurance in Pakistan. In Pakistan insurance is divided into three major parts mentioned below.
- Life Insurance
- General Insurance
- Health Insurance
- Life Insurance
As the name shows that this insurance is about Life. The most demanding type of Insurance is Life e Insurance, which means that a person makes a contract with the company, that insured his life against a certain amount of money.
Usually, life insurance is best for a person who solely supports his family and his family dependent on his income completely. In that case, the insurance company gives a guaranty to the policyholder that they will give a sum of the amount to the beneficiaries when the policyholder expires, as a result of feedback that the policyholder paid during his lifetime in terms of premium. Life insurance gives great support to the policyholder in life and his family after his death.
General insurance mostly says that other than life insurance is called general insurance. If you have no knowledge about general insurance then read the article carefully we try to explain it here what is general insurance?
Just think that you were going outside for an outing or trip with family, of course, you should not take all your expensive and important things or assets with you, it’s not possible, for instance, jewellery, car, house and other different types of valuable assets.
So in that case just think for a while that something has happened and you lose all of your property or asset due to any incident like due to fire or earth quick. You lose everything and you don’t have any kind of backup or saving in that case what would you do?
Wise people always save something for rainy days, so in that condition, general insurance is perfectly fit, if you insure your property or assets then your insurance company gives your loss against that premium.
Health insurance is a type of insurance where the company agrees to pay the expenses of medical treatments like injury or any kind of serious injury. For example, the policyholder gets some illness or road accident he is hospitalized due to some surgical purpose, in that case, the health insurance company pays that person according to their treaty but sometimes the company may deduct that certain amount from the paid premiums. Every health policy is different depending upon the policyholder and what kind of policy he purchased.
Some Of The Other Major Insurance Kinds Are Listed Below.
- Social Insurance
- Liability Insurance
- Fire insurance
- Guarantee Insurance
- Property Insurance
Best Insurance Companies In Pakistan
There are many kinds of insurance companies working in Pakistan, we were going to discuss some of the major companies here, have a look! Best Insurance Companies In Pakistan.
- State Life Insurance Corporation Of Pakistan
- Jubilee Life Insurance
- Admjee Insurance Company
- EFU Life Insurance
- Alfalah Insurance
State Life Insurance Corporation Of Pakistan:
The State Life Insurance is the most famous organization working in Pakistan, for the betterment and prosperity of the people of Pakistan. State Life corporation offers various kinds of Insurance for the people of Pakistan. Whenever we talk about life insurance companies in Pakistan, always the name of state life insurance comes to mind first. State life insurance Pakistan offers many superb and helpful plans. The company offers some of the best individual policy plans which are listed below, just have a look.
- Anticipated Endowment Assurance.
- Endowment Assurance.
- Shad Abad Assurance.
- Whole Life Assurance.
Apart from these some other suitable categories are mentioned below.
- Health Care Plans
- Wealth Builder Plan
- Child Protection Assurance
- Supplementary Covers
- Jeevan Sathi Assurance
Here is the contact number of the State Life corporation office in Lahore. For any kind of inquiry just make a call to them.
Contact Number: 041-3420174
For online inquiries just contact through State Life Corporation official website and get more details.
State Life Jobs:
The best thing about this insurance company is that they provide thousands of jobs across the country, the company offers great opportunities to unemployed people and plays a vital role to give jobs to the needy people of Pakistan. For sending job resumes visit the official website of State Life.
Jubilee Life Insurance
Jubilee Life Insurance is also a well-known insurance organization working under the insurance ordinance of Pakistan in Pakistan. The company came into existence in the year of 1995, CGU International Insurance plc held the shares at that time, later on in 1998 the Aga Khan Fund for Economic Development acquired the shares from CGU. Jubilee deals with some of the best policy plans which are discus below.
- Life Insurance For Individuals
- Micro Insurance
- Online Insurance
- Family Takaful
- Corporate insurance
If you want to inquire about anything then you can feel free to contact them through the Jubilee insurance direct number.
Just visit Jubilee Life Insurance official website.
Admjee Insurance Company Limited(AICL)
Admjee Insurance Company Limited is one of the largest insurance companies serving its best in PAKISTAN. Admjee Insurance Company comes into existence in 1960. AICL is an international company also working in the United Arab Emirates. The company allows the dealing for various kinds of business we write down below.
- Personal accident insurance
- Agriculture insurance
- Motor insurance
- Health insurance
- Engineering insurance
- Liability lines insurance
- Miscellaneous insurance
- Fire Insurance
+92 42 35772960-79
Just check for more Adamjee Insurance Company Limited websites.
EFU Insurance organization is the first insurance company owned by Muslims, considered one of the best companies in Pakistan. Efu has the head office in Karachi, Islamabad, and Lahore others cities are listed below.
Types of EFU Insurance
EFU offered different types of services but here we share some of them below.
- Property Insurance
- Motor Insurance
- Marine and Aviation
- Other (Miscellaneous)
Direct contact for any information or if you need services from EFU dial:
+ 9221 323 13471 – 90
If you want to contact them online just go with the official web page of EFU Insurance.
Alfalah Insurance is the name of quality, the company that fulfils the requirement of its customer according to the latest environment. The company official start its services in the year 2006, now providing services in all major cities of Pakistan listed below.
Various amazing policies are offered by Alfalah.
If you want to contact Alfalah by Phone just dial:
Just contact fast online by the official website of Alfalah.