Jubilee Life Insurance Company, Pakistan Company Limited (the Company) was established on June 29, 1995 in Pakistan as a Public Limited Company under the Companies Ordinance, 1984. The Pakistan Stock Exchange Limited trades its shares. The company was founded on June 20, 1996. Its registered and principal offices are located in Kashmir Plaza, Jinnah Avenue, Blue Area, Islamabad, and Jubilee Life Insurance Company, Pakistan Building, 74/1-A, Lalazar, M. T. Khan Road, Karachi.
- 1. Introduction – Jubilee Life Insurance Company, Pakistan
- 2. Details – Jubilee Life Insurance Company, Pakistan
- 3. Intro Video – Jubilee Life Insurance Company, Pakistan
- 4. Types of Insurances – Jubilee Life Insurance Company, Pakistan
- 4.1 Individual Life Insurance – Jubilee Life Insurance Company, Pakistan
- 4.2 Bancassurance – Jubilee Life Insurance Company, Pakistan
- 4.3 Micro-Insurance – Jubilee Life Insurance Company, Pakistan
- 4.4 Corporate Insurance – Jubilee Life Insurance Company, Pakistan
- 4.5 Online Plans – Jubilee Life Insurance Company, Pakistan
- 4.6 Family Takaful – Jubilee Life Insurance Company, Pakistan
- 5. Branches – Jubilee Life Insurance Company, Pakistan
- 6. Board of Directors – Jubilee Life Insurance Company, Pakistan
- 7. Clients – Jubilee Life Insurance Company, Pakistan
- 8. Online Helpline – Jubilee Life Insurance Company, Pakistan
- 9. Verification – Jubilee Life Insurance Company, Pakistan
- 10. Disclaimer – Jubilee Life Insurance Company, Pakistan
1. Introduction – Jubilee Life Insurance Company, Pakistan
After extensive investigation, Jubilee Life Insurance Company, Pakistan was picked as the new name. The term “Jubilee” is already well-known in the financial services industry and is connected with “Happy,” which is highly relevant to our industry.
As a result, we chose to provide you the assurance of our market presence, together with a guarantee to assist you in planning and realizing your financial goals, in order to keep you and your loved ones happy at all times. We will deliver you worldwide best practices in services and world-class solutions to your financial demands as a global brand.
The Firm is in the business of non-participating life insurance. The Company has created a Shareholders’ fund and the following statutory funds in respect of each class of its life insurance business in compliance with the requirements of the Insurance Act, 2000:
- Individual Life Unit Linked
- Conventional Business
- Accident and Health
- Overseas Group Life and Health Business
- Window Takaful Operations
JCR-VIS Credit Rating Co. Ltd. has awarded Jubilee Life an Insurer Financial Strength (IFS) rating of “AA+” (Double A Plus) with a ‘Stable’ outlook.
Aga Khan Foundation for Economic Development S.A. Switzerland owns the company.
1.1 Window Takaful Operations
Jubilee Life’s Window Takaful operations began on July 7, 2015. (19th of Ramadan 1436 Hijri). The goal was to give Shariah-compliant Takaful products to our brothers and sisters to help them deal with life’s uncertainties.
Jubilee Family Takaful’s business operations and products are approved and monitored by its independent Shariah Adviser, Mufti Zeeshan Abdul Aziz, a distinguished and respected Shariah Advisor. An in-house Shariah Compliance Department oversees the execution of Shariah Rulings and Guidelines relevant to various operational and investment concerns. An external Shariah audit confirms Jubilee Window Takaful operations’ Shariah compliance.
Shariah Compliant Funds invest in Shariah-compliant assets such as Islamic Shares, Sukook, Islamic Term Certificates, Islamic Mutual Funds, and placement with Islamic Banking Institutions (IBIs), among others. In this regard, the Corporation has created the Takaful funds listed below:
- Aggressive Takaful Fund
- Balanced Takaful Fund
2. Details – Jubilee Life Insurance Company, Pakistan
2.1 Vision Statement – Jubilee Life Insurance Company, Pakistan
Enabling people to overcome uncertainty.
Vision Statement – Jubilee Life Insurance Company, Pakistan
2.2 Mission Statement – Jubilee Life Insurance Company, Pakistan
To provide solutions that protect the future of our customers.
Mission Statement – Jubilee Life Insurance Company, Pakistan
2.3 Core Values – Jubilee Life Insurance Company, Pakistan
Teamwork, Integrity, Excellence, Passion
Core Values – Jubilee Life Insurance Company, Pakistan
3. Intro Video – Jubilee Life Insurance Company, Pakistan
4. Types of Insurances – Jubilee Life Insurance Company, Pakistan
Following are the insurance plans offered by Jubilee Insurance Company
4.1 Individual Life Insurance – Jubilee Life Insurance Company, Pakistan
Jubilee Life Insurance Company, Pakistan aims to provide end-of-life security and help you live your life to the fullest. They offer plans for saving for your child’s education, wedding products, and financial protection from inflation. Their insurance solutions ensure a worry-free post-retirement life and provide life insurance for life.
| Child Education Plans (Edu Smart) | Parents want the greatest education for their children, but budgeting is essential. Edu Smart assists in realizing these ambitions by laying the groundwork for a bright future. Parents may guarantee their children’s education is the best it can be by taking little actions. |
| Marriage Plans (Wed Smart) | Fathers bear enormous financial responsibility in their daughters’ marriages, necessitating cautious financial preparation for their future. Wed Smart is a product offered by Jubilee Life that protects children’s futures and builds money for future costs. |
| Retirement Plans (Retire Smart) | The ‘Retirement Plan’ from Jubilee Life provides financial stability and peace of mind for people who have worked hard their whole lives. This unit-linked endowment plan assists in saving for retirement. |
4.1.1 Wealth Accumulation Plans – Jubilee Life Insurance Company, Pakistan
Jubilee Life Insurance Company, Pakistan offers wealth accumulation plans that turn your hard-earned money into smart money, protecting you from financial shocks and providing security in a complex financial world.
| Optimizer Plan | Jubilee Life Optimizer unit linked endowment plan offers financial protection, stable family lifestyle, and secure future investment opportunities. |
| Opal Plan | Jubilee Life offers Opal Plan, unit-linked endowment for long-term financial goals, life cover, and family comfort savings. |
| Lotus Plan | Jubilee Life offers comprehensive financial security for families with policies like the Lotus Plan, providing life insurance and obligations protection. |
| Single Premium Protection Plan | Dwindling investment opportunities demand portfolio diversification; Jubilee Life offers investment management solution. |
4.1.2 Saving & Protection Plan – Jubilee Life Insurance Company, Pakistan
Life insurance and protection plans shield loved ones from unanticipated events, offering financial stability and security during trying times.
| Eight Pay Saving Plan | It is critical to plan for loved ones or personal objectives with a savings strategy that includes life insurance. The Eight Pay Savings Plan provides long-term savings and protection advantages by making regular payments for eight years. |
| Secure Life Plan | Family is vital for happiness, pride, and global well-being; investment and protection essential. |
| Secure Joint Life Plan | Plan offers financial stability and peace of mind for families, combining investment and insurance. |
4.1.3 Health Plans – Jubilee Life Insurance Company, Pakistan
Advancements in medical science are making life-saving procedures and general care more affordable. However, rising medical expenses make these services unaffordable for the general population. Jubilee Life Insurance Company, Pakistan offers affordable, essential health plans to provide top-notch care without worrying about financing.
| Cancer Protection Plans | Cancer is the second leading cause of mortality, causing mental distress and financial hardship. Consider a Cancer Protection Plan from Jubilee Life Insurance Company, Pakistan. |
| Jubilee Health Shield | Jubilee Life offers Health Shield, offering financial assistance, customer care, and support during medical crises. |
| Ek Do Teen Plan | Jubilee Life Insurance Company, Pakistan offers “Ek Do Teen Plan” for family expenses, including life protection and hospitalization benefits. |
| Secure Personal Protection Plan | Jubilee Life’s Secure Personal Accident Plan offers compensation for accidental death or injury, ensuring families are protected during uncertain times. |
4.1.4 Traditional Plans – Jubilee Life Insurance Company, Pakistan
Traditional plans include;
| Smart Protection Plans | Jubilee Life Insurance Company, Pakistan provides a Smart Protection Plan for financial stability, delivering constant returns and protection from unanticipated catastrophes. |
| Taqdeer Plans | Jubilee Life Insurance Company, Pakistan offers Taqdeer Plan for financial planning, guaranteed protection, and maximum policy retention.. |
| Amanat Plans | Jubilee Life Insurance Company, Pakistan offers the “Amanat Plan” for financial security, ensuring stability and maturity. |
4.2 Bancassurance – Jubilee Life Insurance Company, Pakistan
Jubilee Life Insurance Company, Pakistan introduced Bancassurance, a one-stop shop for banking, insurance, and financial needs. Pioneered in 2003, Bancassurance offers life insurance protection and diverse financial products through a single window, providing expert customer service and competitive edge.
4.2.1 Bank of Azad Jammu & Kashmir – Jubilee Life Insurance Company, Pakistan
BAJK, a rapidly growing commercial bank in Azad Jammu & Kashmir, offers customized products and collaborates with Jubilee Life Insurance Company, Pakistan.
| Jubilee Umang Plan | Saving for rainy days is critical for the safety and success of one’s family. The Jubilee Umang Plan provides investing options as well as financial protection advantages. |
| Jubilee Savera Plan | Parents want the best for their children, and the Jubilee Savera Plan helps them achieve their goals while also assuring happiness and thankfulness. |
4.2.2 Habib Bank Limited – Jubilee Life Insurance Company, Pakistan
Pakistan’s largest bank, Habib Bank, has partnered with Jubilee Life Insurance Company, Pakistan to provide protection, savings, and investment products.
| Jubilee Enayah Plan | The Jubilee Enayah Plan provides guaranteed returns and maturity for future financial stability and security, assuring protection and long-term advantages. |
| Jubilee Elite Plan | The Jubilee Elite Plan provides optimum investment returns, assuring family security and a tranquil future for self and family. |
| Jubilee Noor Plan | The Jubilee Noor Plan provides stability, consistent returns, and risk-free financial planning for a family’s future, guiding financial goals and reaching desired objectives. |
| Jubilee Samar Plan | Begin planning for your future now with the “Jubilee SAMAR Plan” for high-income persons. |
| Jubilee Hifazat plan | Life is unpredictable; preparation allows you to confront problems while also providing comfort. The Jubilee Hifazat plan saves money, accomplishes goals, and secures a brighter future. |
| Jubilee Shandur Plan | Jubilee Life offers Jubilee Shandur Plan through HBL, Pakistan’s first life insurance product, catering to high net worth individuals with tax rebates. |
| Jubilee Hawwa Plan | With the Jubilee Hawwa Plan, women today prioritise confidence, elegance, and financial stability. |
| Jubilee Tabeer plan | Through the Jubilee Tabeer plan, parents must assure specialised investments for their children’s future, including life insurance protection and consistent returns. |
| Jubilee Amaan Plan | Through the Jubilee Tabeer plan, parents must assure specialized investments for their children’s future, including life insurance protection and consistent returns. |
4.2.3 MCB Bank Ltd – Jubilee Life Insurance Company, Pakistan
MCB Bank offers investment and life insurance solutions in Pakistan with 1,026 branches.
| Jubilee Prime Life Plan | Jubilee Prime Life Plan offers optimized returns, life protection, and investment protection for a carefree life. |
| Jubilee Life Partner | Jubilee Life Partner offers financial protection for life companions and businesses, ensuring financial security for both partners. |
| Jubilee FlexiLife | Family is joy, pride; Jubilee FlexiLife offers flexible investment plan for family’s future, meeting financial needs. |
4.2.4 United Bank Limited – Jubilee Life Insurance Company, Pakistan
| Jubilee Better Life Child Savings Plan | Jubilee Better Life Child Savings Plan offers financial security for children’s education and marriage expenses. |
| Jubilee You Protect Plan | Plan offers comprehensive protection, living, death benefits, and eliminates financial risks. |
| Jubilee Better Life Parbat Plan | A competitive plan with higher allocations and benefits for saving for future needs. |
| Jubilee Better Life Retirement plan | UBL’s Jubilee Better Life Retirement plan offers life insurance protection and the option to convert savings into regular pensions for a secure retirement. |
| Jubilee Better Life Saving Plan | Family inspires hard work, financial planning helps achieve goals, and Jubilee Better Life Saving Plan offers life insurance protection. |
4.2.5 Bank Alfalah Limited – Jubilee Life Insurance Company, Pakistan
| Jubilee Misaal Plan | Jubilee Life Insurance Company, Pakistan offers the “Jubilee Misaal Plan” for protection and security, offering guaranteed returns and maturity benefits. |
| Jubilee Imperial Plan | Maximize happiness by assisting family with Jubilee Imperial Plan, offering secure future security and happiness. |
| Jubilee Ujala Insurance Plan | Secure your family’s financial future with the ‘Jubilee Ujala Insurance Plan’, offering optimized returns on savings and investments. |
| Jubilee Mukammal Savings and Insurance Plan | Jubilee Mukammal Savings and Insurance Plan ensures family happiness by optimizing savings returns for financial planning. |
| Jubilee Azmat Health Insurance Plan | Jubilee Life introduces Jubilee Azmat Health Insurance Plan, providing top-notch inpatient hospitalization and stress-free healthcare for insured individuals. |
| Jubilee Kafeel Plan | Jubilee Kafeel Plan ensures well-being through planning for medical emergencies, treatments, and death benefits. |
| Jubilee Life’s Jubilee Kohsar Plan | Jubilee Life’s Jubilee Kohsar Plan offers life, health insurance, and optimized returns for achieving goals. |
| Jubilee Rahat Plan | Jubilee Rahat Savings and Protection offers tailored insurance plans for entrepreneurs, mothers, and daughters, ensuring a bright future. |
| Jubilee Sahara Plan | Retirement offers a comfortable, relaxed lifestyle, but financial anxiety can arise. Jubilee Life offers the Jubilee Sahara Plan, providing protection and pensions. |
| Jubilee Rida plan | Birth of a daughter brings joy, excitement, and responsibilities. Start saving early for her future by investing in a disciplined financial strategy. Consider Jubilee Life’s Jubilee Rida plan for secure benefits and protection. |
| Jubilee Roshni Plan | Parents dream of fulfilling children’s dreams, providing them with a good life, education, and wedding. Jubilee Roshni Plan offers financial security. |
4.2.6 Samba Bank Limited – Jubilee Life Insurance Company, Pakistan
| Jubilee Secure Retirement Plan | Retirement offers possibilities; Jubilee Secure Retirement Plan ensures financial security and family protection. |
| Jubilee Secure Savings Plan | Jubilee Secure Savings Plan: Samba Bank Limited life insurance plan for long-term financial needs. |
4.2.7 Habib Metropolitan Bank – Jubilee Life Insurance Company, Pakistan
| Jubilee Assured Savings Plan | Offer Jubilee Assured Savings Plan for regular fund accumulation, providing life insurance protection, and enabling various expenses. |
| Jubilee Assured Retirement Plan | Offer the Jubilee Assured Retirement Plan for financial independence in retirement, ensuring substantial capital for pension payments and addressing rising living expenses. |
| Jubilee Assured Marriage Plan | Financial planning for children’s marriage and future needs involves investing in flexible savings vehicles like Jubilee Life Insurance Company, Pakistan’s Assured Marriage Plan. |
| Jubilee Assured Education Plan | Parents prioritize their children’s welfare, addressing education expenses with Jubilee Life Insurance Company, Pakistan’s Jubilee Assured Education Plan. |
4.2.8 Askari Bank – Jubilee Life Insurance Company, Pakistan
| Jubilee Smart Life Education Plan | Jubilee Smart Life Education Plan by Askari Bank and Jubilee Life Insurance Company, Pakistan offers financial security for children’s education. |
| Jubilee Smart Life Savings Plan | Askari Bank and Jubilee Life Insurance Company, Pakistan Offer Jubilee Smart Life Savings Plan, a comprehensive financial planning package. |
| Jubilee Smart Life Retirement Plan | Jubilee Smart Life Retirement Plan offers financial security and peace of mind after work, ensuring confidence and independence. |
| Jubilee Smart Life Wedding Plan | Askari Bank and Jubilee Life Insurance Company, Pakistan Offer Jubilee Smart Life Wedding Plan, enabling regular savings for children’s wedding expenses. |
4.2.9 Allied Bank Limited – Jubilee Life Insurance Company, Pakistan
| Jubilee Asaan Zindagi | Jubilee Asaan Zindagi retirement plan offers financial protection, regular income, and protection against unexpected events, ensuring dignity and control over future. |
| Jubilee Virasat Plan | Parents must ensure children’s future by fulfilling dreams, protecting uncertainties, and providing education and marriage. Jubilee Life Insurance Company, Pakistan offers dual benefits. |
4.2.10 National Bank of Pakistan (NBP) – Jubilee Life Insurance Company, Pakistan
| Jubilee life’s Jubilee Mayanaz Plan | High income doesn’t guarantee financial security; Jubilee Mayanaz Plan, with National Bank of Pakistan, optimizes investments, increasing returns, and focuses on core concerns without sacrificing focus. |
| Jubilee Life’s Jubilee Bharosa Plan | Parenting involves responsibilities, ensuring a child’s future, and investing in education and marriage. Jubilee Life’s Jubilee Bharosa Plan with National Bank of Pakistan ensures secure investment. |
| Jubilee Bachat Plan | Jubilee Life offers Jubilee Bachat Plan, providing financial security and freedom for life ambitions. |
4.3 Micro-Insurance – Jubilee Life Insurance Company, Pakistan
Over 30% of Pakistan’s population lives in poverty, with the number expected to rise. Jubilee Life aims to provide a better tomorrow for the poor by offering microinsurance products based on affordability, accessibility, flexibility, and simplicity. These products offer life and health insurance benefits, including funeral expenses, with manageable, low premium payments.
4.3.1 Sehat Hifazat plan – Jubilee Life Insurance Company, Pakistan
Sehat Hifazat plan offers health benefits for poorest populations, reducing debt cycle and preventing in-hospitalization.
4.4 Corporate Insurance – Jubilee Life Insurance Company, Pakistan
Corporate Insurance includes;
4.4.1 Corporate Life Insurance – Jubilee Life Insurance Company, Pakistan
Corporate Life Insurance offers legal requirements, deductible premiums, affordable, flexible rates, and competitive advantages for employers, ensuring financial security and attracting top talent.
4.4.2 Corporate Health Insurance – Jubilee Life Insurance Company, Pakistan
Health insurance is essential for attracting and retaining skilled workers, and many companies struggle with healthcare management. Jubilee Life manages staff’s needs, providing effective treatments and reducing personal expenses for business owners.
4.5 Online Plans – Jubilee Life Insurance Company, Pakistan
| Accidental Death Benefit (Gold) | Plan offers customizable coverage, lump sum payment for nominees in accident cases. |
| Accidental Death Benefit (Silver) | Plan offers customizable coverage, lump sum payment for nominees in case of accident. |
4.6 Family Takaful – Jubilee Life Insurance Company, Pakistan
Family Takaful – Jubilee Life Insurance Company includes;
4.6.1 Individual Family Takaful – Jubilee Life Insurance Company, Pakistan
Family Takaful Plan based on Shariah principles, promoting mutual cooperation, solidarity, and community well-being.
- Edu Smart Takaful Plan
- Optimizer Takaful Plan
- Rehan Basna Takaful Plan
- RetireSmart Takaful Plan
- Secure Joint Life Takaful Plan’
- Secure Life Takaful Plan
- Secure Sarmaya Takaful Plan
- Eight Pay Takaful Savings Plan
- Single Contribution Protection Takaful Plan
- Takaful Zamin-e-Sehat Plan
- Opal Takaful Plan
- Lotus Takaful Plan
4.6.2 Banca Takaful – Jubilee Life Insurance Company, Pakistan
Jubilee Life-Window Takaful Operations launched Banca Takaful in 2015, offering a one-stop shop for banking, Takaful, and financial needs through a network of partner banks.
- MCB Bank
- Dubai Islamic Bank
- Habib Bank Limited
- Bank Islami
- Bank Alfalah Limited
- United Bank Limited
- Allied Bank Limited
- Faysal Bank Limited
- Al Baraka Bank
- NBP
- Habib Metropolitan Bank
5. Branches – Jubilee Life Insurance Company, Pakistan
Branches located all over Pakistan in :
- Abdali Road- Karachi
- Alpha branch – Karachi
- Bahawalpur
- Bhalwal
- Blue Area – Islamabad
- Cantt Branch -2, Peshawar
- Chitral
- Club Road – Sargodha
6. Board of Directors – Jubilee Life Insurance Company, Pakistan
Board of Directors Of Jubilee Life Insurance Company, Pakistan are
| Rafiuddin Zakir Mahmood | Chairman |
| Sultan Ali Allana | Director |
| Amyn Currimbhoy | Independent Director |
| Shahid Ghaffar | Independent Director |
| John Joseph Metcalf | Director |
| Sagheer Mufti | Director |
| Yasmin Ajani | Independent Director |
| Muneer Kamal | Director |
| Javed Ahmed | Managing Director & CEO |
7. Clients – Jubilee Life Insurance Company, Pakistan
- Aga Khan Fund for Economic Development S.A. Switzerland
- Awwal Modaraba Management Limited
- Archroma Pakistan Limited
- First Micro Finance Bank-Tajikistan
- HBL Bank UK Limited
- Pakistan Cables Limited
- Karandaaz Pakistan
- Aga Khan University Hospital
- Habib Bank Limited
- International Steels Limited
8. Online Helpline – Jubilee Life Insurance Company, Pakistan
- Phone Number: 021- 111-111-554
- SMS Query At: 8554
- Head office Address: 74 / 1 –A, Lalazar, M.T. Khan Road, Karachi -74000, Pakistan.
- Email Address: info@jubileelife.com
- Complaints: complaints@jubileelife.com
- Company’s Own Customer Complaint Cell: https://www.jubileelife.com/wp-content/uploads/2022/08/Insurance-Policy-Complaints-Board-CTP1.pdf
- Claims: https://www.jubileelife.com/customer-care/claims/
9. Verification – Jubilee Life Insurance Company, Pakistan
Company is Verified from;
https://jamapunji.pk/verify/licensed-entity-detail/jubilee-general-insurance-company-limited
10. Disclaimer – Jubilee Life Insurance Company, Pakistan
- If the Jubilee Life Insurance Company, Pakistan Company have not resolved your concern satisfactorily, you may file a complaint with the Securities and Exchange Commission of Pakistan (SECP).
- Please keep in mind that SECP will only consider complaints that were initially asked to be resolved directly by the firm and were not resolved.
- Furthermore, complaints that are not related to the SECP’s regulatory domain/competence will not be considered.
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