Top 8 Insurance Companies in Pakistan

Life insurance is a long-term investment that you can’t afford to put in the wrong place. Although there are a few insurance companies in Pakistan choosing the one best can be a daunting task. Along with the authenticity of the company, your decision should also be based on your budget and requirements.

In this blog, we have listed the 8 best insurance companies in Pakistan which aren’t only credible but also offer a wide range of insurance solutions.

Let’s find out:

1. Jubilee Life Insurance

Jubilee started as a public limited company in1995. Now, it’s one of the well-known insurance companies in Pakistan that offer different plans. Whether you’re looking to insure your marriage funds, children’s education or family insurance plan, you can rely on this company. They can even give you a customized plan according to your budget and priorities. The word ‘Jubilee’ is associated with happiness and that’s what they aim to deliver through their brand.

Plans Include:

• Cancer Protection Plan
• Jubilee Health Shield
• EduSmart Plus
• WedSmart Plus
• Bancassurance
• Corporate Life Insurance
• MicroInsuranceFamily Takaful
• Samar Plan
• Secure Life Plan
• Assured Education Plan
• Retire Smart Plus

Best for: Health insurance plan, Family takaful.

• Website: Jubilee Life

2. Adamjee Insurance Company 

One of the best general insurance companies in Pakistan who started in 1960 and get popular with its diverse products and services round the clock. It also has a presence in UAE. The most taken products of Adamjee Life Insurance are in the categories of fire and property, marine aviation and transport, motor, accident, and miscellaneous insurance. You can also avail a wide range of Shariah-compliant Takaful products through Admajee Insurance’s top-of-the-line Window Takaful operations.

Without any doubt, the company has grown an incredible reputation by serving its customers with great zeal and passion. 

Plans Include:

• Engineering Insurance
• Fire & Property Insurance
• Health Insurance
• Marine Insurance
• Motor Insurance
• Travel Insurance
• Agriculture Insurance
• Miscellaneous Insurance
• Financial Lines Insurance
• Liability lines Insurance
• Personal Accident Insurance

Best for Adamajee health insurance, Takaful plans, Car insurance, Engineering insurance

Website: Adamjee Life Insurance

3. EFU Life 

EFU is the first private sector life insurance company in Pakistan that started its operations in 1992. It offers the best value products which make them a leading company in the insurance industry in Pakistan 2019 and onwards. By taking up your life, family, and children’s financial responsibilities on themselves, they ensure you live a hassle-free life.

They have a diverse list of insurance plans starting from individual insurance to bancassurance, and group life insurance. Recently, they have also launched Covid19 care benefit to give the utmost relief to people.

They also have their mobile application EFU LifePlan IT through which you can stay updated on their latest plans and packages.

Products Include:

• Unit-linked products
• Critical Illness Products
• Education Planning Product
• Inflation Protection Benefit
• Pension Plans

Best for: Life Insurance, Khushhali plan, marriage plan

Website: EfuLife

4. United Insurance Company

The list of insurance companies in Pakistan is incomplete without UIC. It was established in 1959 to value the country’s business community through customer-friendly financial plans. The company offers a diverse list of plans for individuals and the business community. United Insurance company is headquartered in Lahore, Pakistan, and has over a hundred branches all over Pakistan. You can also buy their plans online which best cater to your needs. It’s also Pakistan’s 4th largest general insurance company recognized for its comprehensive products.

Plans Include:

• Health Insurance
• Travel Insurance
• Motor Insurance
• Crop Insurance
• Live Stock Insurance
• Engineering Insurance

Best for: health insurance, children education insurance, car insurance

Website: United Insurance Company

5. TPL Direct Insurance

TPL Insurance is the first insurance company in Pakistan to sell general insurance products directly to the consumer. It was launched in 2005 with the vision to deliver superior quality insurance products to individuals and corporate clients. Now, it’s one of the recognized insurance companies in Pakistan. It also has its app for those who‘re looking for quick car insurance and want updates at their fingertips. Other than this, you can also find a wide range of comprehensive insurance solutions including Islamic insurance plan on their website. 

Plans Include:

• Auto Direct
• Home Direct
• Travel Direct
• Health Direct
• Property Marine Cyber 
• RisksEngineering
• Miscellaneous
• Direct Takaful (Shariah Compliant Plans)

Best for TPL insurance medical card, TPL health insurance, travel insurance, car insurance

Website: TPL Direct Insurance

6. State Life Insurance Corporation of Pakistan

Initiated in 1972, it’s one of the oldest yet popular life insurance companies in Pakistan list. Its major achievement is the realm of life insurance plans but it also serves in other business-related activities such as real estate, stock market, and more. 

State Life is working with the vision of widespread insurance plans by making it reachable to the common man. It offers both individual and group plans.

Their Plans Include:

 Individual Life Plans

• Whole Life Assurance
• Endowment Assurance
• Sadabahar Plan
• Anticipated Endowment Assurance
• Shad Abad Assurance
• Jeevan Saathi Assurance
• Child Education And Marriage Assurance

And More!

Other categories include:

• Group Life & Pension Plans
• Insurance Plans for Gulf
• Bancassurance
• Takaful
• Real Estate

Website: State Life Insurance Corporation of Pakistan

7. Alfalah Insurance

Alfalah Insurance Company Limited is one of the latest ventures of Abu Dhabi Group in Pakistan. It commenced its operations towards the end of 2006 and since then we have already established offices in major cities of Pakistan. The company is known for providing quality customer care services for insurance to its customers.

Plans Include:

• Motor Insurance
• Health Insurance
• Property Insurance
• Marine Insurance

Best for: Bancassurance, health insurance, motor insurance

Website: Alfalah Insurance

8. Pak Qatar General Takaful

Pak Qatar is the first insurance company to introduce Takaful insurance in Pakistan. It provides Takaful in two categories; General Takaful and Family Takaful. All its products and operations are certified by Mufti Muhammad Hassaan Kaleem for Shariah compliance. With more than a hundred branches in Pakistan, it has developed a strong presence with its web portal and mobile applications. Qatar Insurance Islamic company and Qatar International Islamic bank are the strongest shareholders of PQGT. All their products are designed in adherence to Islamic laws and principles.

Plans Include:

• Motor Takaful
• Home Takaful
• Family Takaful
• Banca Takaful
• Travel Takaful
• Corporate Takaful

Best for: All types of takaful plans

Website: PakQatar

All these insurance companies work on a different set of guidelines. We suggest you to study the plan thoroughly before investing in any company. They are however well-rated and reliable insurance companies of Pakistan.

Momal Tahir

I prefer books and diaries more than phones and Facebook. Soulfully connected to Pakistan. And I passionately believe that I can change the world through blogging.