Pakistan has an insurance penetration (premium as % of GDP) of 0.5% making it one of the lowest in the world. The recent strategy of the Government for financial inclusion of a larger segment of the population is augmenting the efforts of the insurance industry to bring the masses into the insurance net for savings and protection.
Recognizing the needs of the masses for financial solutions aimed at providing insurance protection and savings, Easypaisa has partnered with EFU Life to launch a range of products, the first being Easypaisa Kamyab Mustakbil.
This is a unique, ethical and Shariah compliant financial planning solution that provides customers, especially the underprivileged with a simple and secure insurance plan.
By paying a minimal annual contribution of PKR 500 per annum, customers can get coverage of PKR 100,000. The product provides takaful coverage up to PKR 1,000,000.
Anyone aged between 18- 64 years can subscribe for Easypaisa Kamyab Mustaqbil by simply calling the Easypaisa helpline 3737.
In case of the customer’s unfortunate demise, the subsequent coverage amount can be utilized for sponsoring their child’s education, receiving monthly returns to their Easypaisa Savings Account or avail the option of receiving a lump sum amount.
Easypaisa will also offer limited scholarships to Easypaisa Kamyab Mustakbil subscribers through a lucky draw every year.
On the launch ceremony of Easypaisa Kamyab Mustakbil, Muhammad Yahya Khan, Head of Easypaisa said, ‘Easypaisa aims to bring more security and peace of mind to the millions of Pakistanis who are unaware of the benefits of life insurance. Through products like Easypaisa Kamyab Mustakbil, we are striving hard to provide financial inclusion as well as an opportunity to build formal savings.’
Mr Taher G Sachak, CEO of EFU Life said “Financial inclusion of the masses is an important pillar of EFU Life’s strategy and we are constantly innovating to increasing our outreach to all parts of the country and all segments of the society. It gives me immense pleasure to partner with Easypaisa, and by launching such inclusive products we aim to enhance the life insurance penetration as well as to financially empower and engage a large segment of the population in the informal and rural sectors.”
How to Susbcribe
Customer can call 3737 to susbcribe for Easypaisa Kamyab Mustakbil
As soon as a claim occurs, one can intimate to Easypaisa’s dedicated helpline “3737”. EFU Life-Window Takaful Operations representative will handle all the takaful claims in order to provide efficient claims servicing to Easypaisa customers.
The services will be hassle free and within the terms and conditions of Term Takaful Policy. All the takaful claims will be processed and settled in a time bound manner.
Following documents shall be required by EFU Life – Window Takaful Operations in case of death claims:
- Copy of death certificate issued by NADRA or union council.
- Copies of National Identity Card of deceased and the claimant.
- Claimants Statement.
- Succession Certificate & Original Guardianship Certificate (in case the beneficiary is a minor).
- Any other document deemed to be required during the claim investigation process.
Customer will only pay the contribution amount. No other charges will be applicable.