The management of Soneri Bank has decided to discontinue the business of bancassurance by the end of this month (February).
According to official sources, the bank will cease the selling of new insurance policies of the partner companies to customers effective March 1, 2023. The existing customers will continue to be served for the smooth renewals and achievement of the persistency benchmark.
Soneri Bank has signed partnerships with Jubilee Life Insurance and EFU life Insurance for offering various insurance products and investment plans to its customers.
The bank has also directed its staff to cease marketing and advertisements of bancassurance products from the given deadline.
Bancassurance is one of the profitable businesses of the banks which provided an opportunity for banks to make extra margins on the sale of insurance products and services of the partner insurance companies.
However, customers often complain against officials of banks for deceptive marketing practices for attracting them to purchase this product.
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Kindly guide about jubilee life insurance policy which is continued since 2014
Fareeha there r many insurance policies for example in simple way if u invest 100000 in a year then u can get 2000000 in 10 years and in 20 years u can get 6000000 or more depending on unit price and what is unit price u can ask me on this no 03314285887 i will give u right thing although not everyperson can give u right thing.
Allah Hafiz