jubilee insurance Pakistan limited was incorporated in Pakistan on June 29, 1995. Jubilee insurance is a subsidiary of the Aga Khan Fund for Economic Development. The managing director and chief executive officer of Jubilee life is Mr. Javed Ahmed. The company is based on the business of Life Insurance and deals with different areas of an individual`s life and make sure they are safe and secure under the commitments and services which they have made with the company. Jubilee life insurance is there to give individuals confidence in their lives, whether financial, health, or Education. The company is a private sector based company and works to serve its customers in terms of money and financial security and investment returns. Jubilee life company is continuously working and growing and is enabling people to overcome uncertainty. All the plans of the Jubilee insurance company are based to overcome these uncertainty issues. Jubilee insurance offers different plans, the ones we are going to discuss are Jubilee car insurance or auto insurance & Jubilee individual life insurance. Even in these categories, they are providing numerous plans and easy to take policies for customers and are shining among all the insurance companies.
Jubilee life insurance company provides you online services and you can easily buy and find plans, according to your needs and requirements by the tools online. The website has a “Plan Finder” option too to suggest what’s the best plan for you according to your entered information. It provides a general overview of the available plans in the company. Before agreeing or buying any plan you need to sign a Jubilee insurance Pakistan claim form.
JUBILEE MOTOR VEHICLE INSURANCE
Jubilee Insurance Pakistan offers the best Car and Bike Insurance policies. Under the Jubilee Car insurance, there are different insurance policies such as 3T old car Insurance, Old car Comprehensive, Private Car Comprehensive, Private Car Third Party Liability Insurance, Motor Cycles Third Party Liability Insurance, etc. All these policies work to serve the customers and cover all these uncertainties regarding your own motor vehicle.
Private Car Comprehensive Insurance
Comprehensive car coverage means any incident that’s no collusion, but any other incident in which the car is damaged, it may be damaged from falling off things or fire. Or if the car is stolen so for the repair and replacement, a comprehensive coverage policy is applicable. Jubilee car insurance offers this coverage under some conditions and with affordable rates and 24/7 customer service. The estimated value is of 2.025% net of the insured value for the insurance and services for your car. The car or vehicle possessing insurance must be private and up to 5 years of age.
The policy of car comprehensive, in Jubilee car insurance, is applicable due to the following given reasons:
- If any accident takes place.
- Due to Fire, any explosions, Lightning, or natural calamities like earthquakes, volcanic eruptions, flood, hail, or wind.
- Robbery or theft.
- The risks while the motor vehicle is in transit, whether by air, road, rail, or any other means.
- The car goes to the nearest workshop In case of any breakdown. Subject to Rs 500.
THIRD-PARTY LIABILITY INSURANCE
Third-party liability refers to the insurance to the customer when he or she is going through a legal action due to an accident or any injury to another person. It is necessary if legal action is involved. Jubilee Car Insurance is provided in the following situations:
- If the third party is injured or death has happened due to the policyholder.
- If damage has occurred to the property of a third party.
In case of accidental bodily injury of the insured, the medical expenses will be covered by the Jubilee car insurance. But if the medical expenses are within the limit of Rs 350.
The conditions on which the jubilee car insurance will be applicable are:
- In case of theft or robbery of the insured car or motorbike, the police have to be immediately informed by the withholder.
- If any claims arise on the company the insured has to contact the company and give complete and proper details.
- If the insured loses his original excise, duty, and tax papers, then they should immediately inform the company about the loss.
- Cancellation of the policy signed by the insured or the company will be within a seven days notice.
The Jubilee insurance website and portal allows you to Get a quote for your Jubilee car insurance, which means you have to fill up all the required information and buy the policy. You can also verify your policy through online websites. The Jubilee car insurance has offered various ways to claim that are through their website or you can go to the nearest branch.
INDIVIDUAL LIFE PLANS
The Jubilee life company offers numerous individual life plans to make one’s future safe and secure. The plans include Bancassurance, Homecare, Selfcare, Shop care, Viacare travel insurance, and many more. These insurance plans will always cover for you when you are in need of different aids and needs.
Prosaver is a plan by Jubilee Insurance which helps you do savings side by side and also provides you full insurance coverage in your life. The funds which have been accumulated on a daily basis are used for your future services. These savings are helpful in children`s education, marriages, and other future plans.
Prosaver has many facilities for its clients. It lets you plan your financial commitments, the way you want them to. You can choose how much you want to invest and for what purpose, so accordingly you can invest the funds. You can increase the funds when you feel you can invest more or when you have more. Using add on benefits you can customize your benefits that what you will need. Reward money is also there for customers who have taken the plan for a long term plan.
INVESTMENT OPTIONS JUBILEE INSURANCE PAKISTAN
Different investment options are provided by the Jubilee insurance company. You can choose between if you fully want to invest in some of these funds if they suit you better or you can split your premium between other options available. The following are the investment options available.
- Managed Funds: With this, the company struggles to maximize the returns to the investors by investing in a wide range of stocks.
- Meesaq Fund: This is the opportunity for those investors who want interest free returns of their funds. They invest in a selective range of stocks and Islamic banks.
- Yaqeen Growth Fund: This fund is for investors who prefer reasonable returns from their investments.
- Capital Growth fund: This fund maximizes the investment returns to policyholders and investment is in terms of bank deposits.
Jubilee life insurance gives you the opportunity to manage your investments and funds. You can manage your funds by distributing the funds between two Fund plans and you can even switch between two investment plans on the progress of a plan you have chosen. You can switch for free until the fifth time. After the fifth time, you would have to pay for it.
ADD ON BENEFITS:
The add on benefits are the things which you can add up in your insurance and you will have coverage for them. You can customize them according to what you need more.
Accidental Death or Injury:
In case of accidental injury or death, the person having the insurance will be given an additional amount of money to cover for it.
Family Income Benefit:
The family income benefit provides aids and money to the family if the person having the insurance has died. Through this regular income, the family can continue with a decent standard of living.
Permanent Disability Benefit:
This Benefit provides that if the insured person is on complete or permanent disability, then the advances for death benefit will be transferred in these.
Critical Illness and Hospital Benefit:
In the case of the insured person being hospitalized, the person will receive insured money and the money will be doubled to 50% if the insured person is in ICU. These conditions apply to the spouse and children also.
In the case of 18 critical diseases or illnesses, the advances of death will be paid.
If you are unable to pay a premium amount due to any illness or discontinuity of your occupation until the due date, then for 6 months your payments will be done by the Jubilee Life Insurance.
The policyholders who can buy this policy should be about 18-65 years of age. You can know more about jubilee car insurance policies through the sales representative of the jubilee insurance Pakistan in a detailed illustration. It also offers a free look period of 14 days until that you can cancel the auto insurance policy and review the terms and conditions. Jubilee car insurance representatives illustrate the details of the insurance too.