It’s no secret that a high percentage of Pakistanis remain uninsured or underinsured due to the lack of financial capacity and knowledge about the importance and value of insurance.
Understanding the need and vacuum in the society on this national insurance awareness day, Smartchoice, in collaboration with EFU Life, has launched mass-market insurance products that can be purchased digitally giving instant coverage. Products have been designed to specifically target the masses, these affordable insurance products are low-priced and provide a reasonable level of coverage.
The three products launched can be instantly bought hassle free in a matter of a few minutes.
Hospital Cash Plan assures a daily financial benefit if an injury or illness results in hospitalization for more than 24 hours in any registered Hospital of Pakistan. It provides financial support when you go through an income loss due to an unfortunate event of hospitalization. The price starts from Rs. 2,200 per year while the maximum daily cash benefit you can avail is up to PKR. 10,000/day during the hospital stay.
Personal Accident Plan has been designed specifically to provide coverage against the risk of an unforeseen incident of accidental death. It makes sure that your family remains financially secured in such difficult times. This plan starts at just Rs. 399 per year while the coverage goes up to PKR 1.5 million
Term Life Insurance is not a typical life insurance savings product instead it gives coverage in case of death during the insurance tenure. Consumers who are unable to buy a higher premium life insurance policy and commit premium for 10 to 20 years, can go for this product as its a yearly product starting from just Rs. 2,100 and protect their families in case of unforeseen circumstances.
Smartchoice being a financial comparison platform shares all the advantages and benefits upfront along with terms and conditions. It strongly believes that by educating and providing fair and unbiased opinion people can be equipped to make an informed decision.
Apart from small ticket insurance plans, thousands of customers have saved money by comparing different financial products from Smartchoice including car, travel, health insurance and etc.
Pakistan is one of Asia’s fastest growing internet markets, with internet usage rising by 20%, compared to the global average of 10% (Husain, 2017), so this mass penetration of the internet has made life simpler in identifying insurance as a mainstream need and to enable people to realize its importance in their life. It is imperative that we make them empowered to buy these small ticket affordable insurance products conveniently without going through a long cumbersome process making it swift and easy.