Easypaisa Khushaal Beema Grabs 250,000 Insurance Customers

Easypaisa’s Khushaal Beema has announced 250,000 customers for its insurance products.

Easypaisa in collaboration with Adamjee Life Insurance had launched Khushaal Beema products for easypaisa customers, who have to maintain a minimum balance of Rs. 2,000 for insurance covers.

With only 0.5% insurance penetration in the country, Pakistan has one of the lowest insurance penetration levels in the South Asian region. Even though there are a dozen insurance companies in Pakistan, one of the biggest challenges to scale has been reaching out to the masses at the bottom of the pyramid and educating them to the benefits of insurance.

Easypaisa and Adamjee’s insruance plans were first of its kind micro-insurance product that gives the underprivileged segment the insurance covers.

Easypaisa said that 20% of its 250,000 subscribers maintain the minimum deposit in any given month.

Easypaisa’s Khushaal Beema is provided free of cost whenever a customer opens an Easypaisa Mobile Account and maintains an average monthly balance of Rs. 2,000 in their Mobile Account. The deposit amount is never locked, and the customer is allowed to withdraw the funds whenever needed.

The insurance pays out Rs. 50,000 for a natural death and Rs. 100,000 for an accidental death. By keeping a higher balance in the Mobile Account, the customer can avail higher pay outs.

To date Easypaisa has processed and paid out a total of 24 claims worth more than PKR 2.5 million.

Tech reporter with over 10 years of experience, founder of ProPakistani.PK

  • Rehmat Ali

    Is there any service that I can transfer money from my Bank Account (Using Net banking) to someone having Easy Paisa Mobile Account and they can get it from Easy Paisa Shop?

    • Muhammad Kamran

      You can transfer money through netbanking to a UBL Omni account but unfortunately not to EP account

      • Rehmat Ali

        Wow, Thats great. Any charges involved? So If my friend having UBL Omini they can simply go to omni shop and get the money. If its like this I was looking such great service.

        • Junaid

          You can make payment by using internet banking of bank which provides online transfer. Add bank tameer and mention ur mobile account

    • Ahmed Habib

      Hi Rehmat, goto your online banking account, select Tameer Bank from the bank list for IBFT, input the 2nd part easypaisa mobile numbet, it should list the name of the account holder, send amount. You are done. :-)

    • shahid

      Money Transfer to Others’ Banks from Easypaisa Shop

  • Qasim

    its 20% of 250,000? or 250,000?