Department of Commerce

7TH Semester
Section: Afternoon (A)
Assignment: Group B
Topic: Jubilee Life Insurance
Submitted To: Mam Tooba Arshad
Submission Date : 31-oct-2023
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Contents

History of Jubilee Life Insurance….…………………………………………....3

About Jubilee Life………………………………………………………………3
Current Offered Products……….………………………………….…………...4
Latest Offering……………………………………………………...…………..4
Jubilee Samar Plan……………………………………………………………...4
Cancer Protection Plan…………………………………………………………5
Jubilee Health Shield………………………………………………..………….5
EduSmart Plus………………………………………………………..………...6
Jubilee Assured Education Plan……………………………………...………...7
Jubilee Assured Marriage Plan………………………………………..……….7
Customer Tendency in Pakistan………………………………………..………8
Overview……………………………………………………………………….8
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History of Jubilee Life Insurance

Jubilee Life Insurance Company Limited (the Company) was incorporated in pakistan on June 29,
1995 as a public limited company under the companies ordinance, 1984. Its shares are quoted on
the Pakistan Stock Exchange Limited. The company started its business on June 20, 1996. The
addresses of its registered and principal office are 26-D, 3rd floor, Kashmir Plaza, Jinnah Avenue,
Blue Area, Islamabad and jubilee life insurance building, 74/1-A, Lalazar, M. T. Khan Road,
karachi respectively.
The company is engaged in life insurance, carrying on non-participating business. In accordance
with the requirements of the insurance ordinance, 2000, the company has established a
shareholders’ fund and following statutory funds in respect of each class of its life insurance
business:

 Individual Life Unit Linked

 Conventional Business
 Accident and Health
 Overseas Group Life and Health Business
 Window Takaful Operations
Jubilee life has been assigned lnsurer financial strength (IFS) rating of “AA+” (Double A Plus)
with ‘Stable’ outlook by JCR-VIS credit rating Co. Ltd. The company is a subsidiary of Aga Khan
Fund for Economic Development S.A. Switzerland.

About Jubilee Life

Jubilee Life Insurance was chosen as the new name after a thorough research exercise. The word
“Jubilee” is already well-known in the financial services market and is associated with
“Happiness” which very much relates to our business. We therefore decided to give you the
confidence of our strong presence in the market coupled with a promise to help you plan and
realize your financial dreams to keep you and your loved ones happy at all times. With a global
brand we will bring you global best practices in services and world class solutions to your financial
needs.

Vision Mission Core values

Enabling people to overcome To provide solutions that Teamwork, Integrity,
uncertainty protect the future of our Excellence, Passion
customers
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Mr. Javed Ahmed is the Managing Director and Chief Executive Officer of Jubilee Life Insurance
Company Limited. He also serves as a Director on the Board of Jubilee Kyrgyzstan Insurance
Company, CJSC, Kyrgyzstan.
Mr. Ahmed has been associated with Jubilee Life since 1997 when he joined the Company as the
Head of Operations. In 1999, he was made responsible for Business Development as Head of Sales
& Marketing. He was elevated as the Managing Director and Chief Executive Officer in 2002
when the Company was acquired by AKFED. Under his leadership, Jubilee Life has emerged as
one of the leading private sector insurers in Pakistan.

Current Offered Products

Jubilee life insurance offers a variety of insurance products to cater to different needs and
preferences. Some of the insurance policies they offer include life insurance, health insurance,
savings and investment plans, marriage plans, rural plans, family takaful plans, retirement plans,
and education plans. These policies are designed to provide financial protection and security for
individuals and their families.

Latest Offering
 Jubilee Samar Plan
For an upbeat future start planning now, since “today” is always the best time to “begin”. If you
dream of a splendid future for yourself and your family, then “Jubilee SAMAR Plan” is specially
designed for you.
A unique plan, “Jubilee Samar Plan” is particularly aimed to cater the investment and insurance
needs of high worth individuals who need to boost their savings and additionally secure themselves
and their families against unfavourable conditions.

 Premium Rate

Entry Age Min: 18 years, Max: 65 years

Max Maturity Age 75 years nearest birthday
Policy Term 10-57 years.
The policy can be maintained anywhere
from 10 years 57 years (depending on your
needs and your age at the time of purchase
of policy).
Minimum Premium Annually: PKR 250,000
Semiannually: PKR 125,000
Quarterly: PKR 62,500
Monthly: PKR 20,834
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 Cancer Protection Plan

Cancer is one such critical illness that one wishes would never have. It not only causes emotional
trauma and strains the entire family, but creates a potential of financial crisis as well. However,
the number of cancer cases being reported is on the rise. According to a study by World Health
Organization, cancer is the second leading cause of death globally and approximately 9.6 Million
people died worldwide in the year 2018 due to this disease. It has also been recorded that around
70% of deaths occur in low and middle income countries.
The above statistics are high due to an unhealthy lifestyle coupled with stress and anxiety, but
that’s not all. Most people are deprived of quality care due to the extensive cost of cancer treatment
and other medical expenses which become difficult to pay after initial diagnosis, thus, resulting in
more deaths. Nonetheless, this can be avoided if you plan ahead to ensure that a life threatening
disease such as cancer will not cause a dent in your hard earned savings.
Jubilee Life Insurance offers ‘Cancer Protection Plan’, a comprehensive plan which provides
assistance in covering the cancer related expenses at affordable cost so that you and your loved
ones can be relieved from the imminent financial burden and focus on recovery and health.
 Premium Rate

Age Scenario 1 Scenario 2

28 years Purchase cancer protection plan Purchase cancer protection plan
Sum assured: 3M
Plan Term: 20years Sum assured: 3M
Plan Term: 20years
32 years Diagnosed with Early Stage
25% of Sum Assured Paid
40 years Late stage cancer is Diagnosed Late stage cancer is Diagnosed
Remaining 75% of Sum Assured 100% of Sum Assured Paid
Paid

 Jubilee Health Shield

In order to provide you, our valued customers with the best of its kind support during the times
when it is most required, Jubilee Life offers you – an attractive Health Insurance Plan called Jubilee
Health Shield, that provides you financial support and assistance in case you or your family
members have had a medical emergency but also provides various additional built in benefits such
as inclusion of Pre-existing conditions cementing further that Jubilee Life cares for you and your
family.
 Premium Rate
The premium for jubilee health shield will be based upon the age of the customer and other
members as per the below table.
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Age Shield Super Age Shield Super Age Shield Super

shield shield shield
0 9500 18950 19 7000 13850 38 11150 22300
1 9500 18950 20 7000 13850 39 11850 23700
2 9500 18950 21 7000 13850 40 12450 24900
3 9500 18950 22 7000 13850 41 12450 24900
4 9500 18950 23 7000 13850 42 12450 24900
5 9500 18950 24 7000 13850 43 12450 24900
6 9500 18950 25 7000 13850 44 12450 24900
7 9500 18950 26 7400 14700 45 12450 24900
8 9500 18950 27 7850 15600 46 14050 28150
9 9500 18950 28 8300 16500 47 15700 31550
10 9500 18950 29 8750 17450 48 17450 35000
11 9500 18950 30 9150 18200 49 19200 38600
12 9500 18950 31 9150 18200 50 20650 41500
13 9500 18950 32 9150 18200 51 20650 41500
14 9500 18950 33 9150 18200 52 20650 41500
15 9500 18950 34 9150 18200 53 20650 41500
16 9500 18950 35 9150 18200 54 20650 41500
17 9500 18950 36 9800 19500 55 20650 41500
18 7000 13850 37 10450 20900

 EduSmart Plus
You’ve been blessed with success, and now you want your child to enjoy the fruits of your labours
and get a headstart on life, with the best possible education you can provide, whether in Pakistan
or abroad. EduSmart Plus allows you to turn that dream into a reality. Along with offering life
insurance protection, EduSmart Plus allows you to save regularly so that you can offer your
children the education they deserve.

 Premium Rate
The proportion of the basic plan premium allocated to investment is as follows:

Policy years Allocation %

1 40%
2 85%
3 90%
4 onwards 100%
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 Jubilee Assured Education Plan

As parents we desire to achieve the dreams of our children and their welfare is our highest priority.
Their education expenses put financial strain on us in these times of inflation. It is important to
start savings wisely today to ensure that our children’s future turns out to be as we planned.
Jubilee Life Insurance with its distribution partner Habib Metropolitan Bank in presents Jubilee
Assured Education Plan a unique plan designed to provide funds for your children’s future
education expenses.
 Premium Rate
The minimum term of plan is 10 years whereas the maximum term is 25 years, subject to
the maximum age at maturity of 70 years.
Premium Contribution
The minimum basic plan premium is Rs. 24,000 per annum. You can pay your premium
annually, semi-annually, quarterly or monthly.

Policy years Allocation

1 50%
2 80%
3 90%
4 and onwards 100%

 Jubilee Assured Marriage Plan

Financial planning is required to ensure that your children’s marriage and other needs are taken
care of in your lifetime or even after that. Organizing a marriage requires large amounts of money.
To meet those expenses, you need to save by investing into a flexible savings vehicle.
Jubilee Life Insurance with its distribution partner Habib Metropolitan Bank presents Jubilee
Assured Marriage Plan – a life insurance plan which gives you dual advantage of protecting your
children’s future and creating enough savings for them over the desired period of time to meet the
anticipated future marriage expense.

 Premium Rate
Your premium will be allocated towards investment as follows:

Policy years Allocation

1 50%
2 80%
3 90%
4 and onwards 100%
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Customer Tendency in Pakistan

Jubilee life insurance has gained a strong customer base due to its reputation for reliability and
commitment to customer satisfaction. Many people in pakistan choose jubilee life insurance for
their insurance needs because of the wide range of insurance products they offer, as well as their
focus on providing financial security and peace of mind. With their excellent customer service and
tailored insurance solutions, jubilee life insurance has become a preferred choice for individuals
and businesses in pakistan.

Overview
OUR PROFIT = YOUR TRUST
The word “Jubilee” is already well-known in the financial services market and is associated with
“Happiness” which very much relates to our business. We therefore decided to give you the
confidence of our strong presence in the market coupled with a promise to help you plan and
realize your financial dreams to keep you and your loved ones happy at all times.
At Jubilee Life, we measure our success not by our profits, but by the strong bond that we share
with you. Our excellence in customer services has enabled us to win your trust which is a source
of inspiration that continues to fuel our passion for nurturing and fulfilling your needs.
You will always find us with you, turning your dreams into realities.