Welcome to stat Life insurance..

The Life Insurance Business in Pakistan was nationalized during March 1972. before that 32 Life Insurance Companies are working in Pakistan. In November 1, 1972 these all companies are merged and all Life Insurance Business was consolidated and entrusted to the State Life Insurance Corporation of Pakistan.State Life Insurance Corporation of Pakistan is headed by a Chairman and assisted by the Board of Directors of State Life which runs the affair of this Corporation.

Sunday 20 March 2011

About EQUOTE Life Insurance Services

Since 1998, EQUOTE has been providing our valued customers with the lowest cost affordable term life insurance products, including no medical and term life insurance from our California offices located in San Diego. We offer term life insurance quotes online, rates, and information with simple, straight talk. Now EQUOTE Life Insurance has added Annuities and Long Term Care Insurance plans to offer you more and better options to protect yourself and your family. After all, that is what insurance is for: Protection for yourself and your family.

Terms of Life Insurance
Term Life Insurance is the most popular type of life insurance today. As the name implies, term life is designed for a specific term (length of time). You buy a term life policy to provide coverage for a guaranteed number of years: 10, 15, 20, 25 or 30 years.  is also available. Some companies even offer a return of premium option on their policies. This allows you to receive 100% of the premiums you've paid into the insurance plan.

Universial Life insurance

One of the most misunderstood types of life insurance is Universal Life. Today's life insurance plans offer long term guarantees such as 20, 30, 40 years or even up to age 120! The face value amount of the life insurance policy is guaranteed to remain level and so is the premium for the period of time you select for coverage.


Trems Life of Universla Life Insurance

The biggest question facing many insurance buyers today is,
"Which type of insurance do I need, Term Insurance or Universal Life Insurance?" The real question should be, "What is Term Life Insurance and how does it differ from Universal Life?" Most people really don't understand these two types of life insurance. And admittedly, it is confusing. We can walk you through the different types of life insurance, and direct you to an online form where you can get instant No Medical term life isnurance quotes/rates and apply online.

Keep Person Term Life Insurance

Quite a few companies today are taking term life policies out on their key employees. Finding and keeping valuable employees is getting tougher these days. Affordable instant Term Life Insurance quotes/rates are available online or contact us for No Medical Term Life Insurance, which only requires you to answer a few health questions, in California or any other type of life insurance for the most affordable quotes/rates.

General Insurance

Most companies require general liability coverage before they do business with other companies. EQUOTE is familiar with all types of business insurance and can help you decide what amount of coverage is standard for your line of work-- a good rule of thumb is to find out what amount of coverage your clients require and to try to purchase at least that amount.

It’s a Boy! (Now Buy Life Insurance)

You’ve just had your first baby boy. Or maybe it was a little girl. Either way, congratulations. You don’t need us to tell you that life is going to change, and change quickly. You’ve no doubt already become accustomed to the idea of sleepless nights, midnight feedings, dirty diapers, and all of that kind of stuff. But what you may not have thought about with the birth of your baby is term life insurance.
But, you should. After all, there’s someone depending on you and your income now. If you haven’t already scheduled an appointment with your insurance agent, do so. You’ll want to adjust the amount of your term life insurance. And if you don’t have any life insurance yet, you’ll want to invest in some immediately.
Think about it. That little guy is totally dependant on your income. If you were to die today, what would happen? Who would pay for:
  • Diapers
  • Food (18-20 some years’ worth of groceries is a lot)
  • Health Insurance
  • College Tuition
Of course, there are a lot more expenses that junior will have growing up, but our purpose here is just to get you thinking about it. Even if your spouse has an income as well, chances are that it won’t be enough to cover your child’s expenses. These days, the average in state tuition is almost $8,000. And if, by chance, your little . Harvard and Yale are much, much more expensive.
We know, your little guy is probably going to get a football scholarship anyway. You can already see that killer instinct in his eyes when he screams and reaches for that rattle. But on the off chance that he might need a little help paying for college, you might want to consider putting aside some savings for him and investing in term life insurance, just in case the unthinkable happens.
And while you’re at it, consider taking out some life insurance on your baby. We know, no one wants to think about their baby dying, but in the unlikely event it happens, you definitely don’t want to worry about where the money for final expenses is coming from. Besides, buying life insurance on him now guarantees that he’ll be able to get life insurance himself later, even if he has health issues.

Term Life Insurance

As the name implies, Term Life Insurance provides protection for a specific period of time and generally pays a benefit only if you die during the "term." Term periods typically range from one year to 30 years, with 20 years being the most common term.

Advantages
One of the biggest advantages of Term Life Insurance is its lower initial cost in comparison to permanent insurance. Why is it cheaper when initially purchased? Because with term insurance, you're generally just paying for the death benefit, the lump sum payment your beneficiaries will receive if you die during the term of the policy. With most permanent policies, your premiums help fund the death benefit and can accumulate cash value.
Term life insurance is often a good choice for people in their family-formation years, especially if they're on a tight budget, because it allows them to buy high levels of coverage when the need for protection is often greatest. Term insurance is also a good option for covering needs that will disappear in time. For instance, if paying for college is a major financial concern but you're pretty sure that you won't need life insurance coverage after the kids graduate, then it might make sense to buy a term policy that will get you through the college years.
When the Term Ends
But what happens if you buy a term policy only to realize at the end of the term that you still have a need for life insurance? Well, it's sort of a good news, bad news story. The good news is that many policies will give you the option to renew your policy when you reach the end of the term. The bad news is that you'll probably face much higher costs since age is one of key factors used to determine life insurance premiums. To renew the policy, you also may have to present evidence of insurability (that's insurance jargon meaning, "take another medical exam and answer a new round of questions about your lifestyle, health status and family health history"). If you're still a fine specimen with healthy living habits, you might re-qualify at a reasonable rate. But if your health has deteriorated, you may find that it's too expensive to renew your policy or you may not even re-qualify.
So if you're considering a term policy, make sure you carefully consider how long you'll need the coverage. If you're pretty sure that your needs are temporary, then term insurance is probably the right choice for you. But if you think there's a possibility that you might need the coverage for a long time, then remember that if you want to renew your term policy after it expires or buy a new term policy at that time, your age, health status or other factors may make coverage very expensive.
To better understand term insurance, consider this analogy. When you purchase term insurance, it's sort of like renting a house. When you rent, you get the full and immediate use of the house and all that goes with it, but only for as long as you continue paying rent. As soon as your lease expires, you must leave. Even if you rented the house for 30 years, you have no "equity" or value that belongs to you.
Return-of-Premium Option
One exception to this rule is what's called a return-of-premium term policy. With these policies, if you keep the policy in force for the entire term, say 20 years, the insurance company will refund the premium payments you made over that 20-year period. Of course, there is a price to be paid for this added benefit. The premiums for return-of-premium policies are considerably higher than premiums for standard term policies. The price difference can be 20%, 30% or more. Another factor to consider is that term insurance rates have dropped considerably over the past decade, mostly because people are living longer. If you own a standard term policy, there's really no harm done in dropping that policy in favor of a newer and cheaper term policy. But if you own a return-of-premium policy, dropping the policy before the full term has expired means that you will have paid a high price for your term insurance coverage and the premiums you paid won't be fully refunded. At best, you'll get a partial refund of the money you put into your policy to that point.
Key Policy Provisions
When considering a term purchase, one thing to keep in mind is that not all term policies are the same. Some may include certain provisions as standard features, while others may require you to pay extra to add these features as "riders" to your policy. So if you're comparing term policies, remember that price is not the only factor to consider. Ask your agent about provisions such as:
  • Accelerated death benefits - allows a terminally ill person to collect a significant portion of his or her policy's death benefit while that person is still alive
  • Disability waiver of premium - waives premiums when a policy owner suffers a long-term disability, typically one lasting six months or longer
  • Accidental death benefits - doubles or triples the benefit in the case of death by accidental means
Convertibility
Another provision that is very important is something called convertibility. Some insurance contracts only allow "conversion" in the first few years of the policy, while others allow it at any point during the term. This valuable feature allows you to convert your term policy to a permanent policy (e.g., whole life insurance) without submitting evidence of insurability. Being able to convert to a permanent policy is a great option to have in the event that circumstances in your life change such as failing health or maybe just the realization that coverage is needed for a longer period of time than you originally anticipated. That's why when purchasing a term policy, it's never a bad idea to find out what kind of permanent policies are offered by the company you are considering. Some companies may only have strong term insurance offerings, while others may have very competitive products in both categories.

How Much Life Insurance Should I Buy?

“I’m worth more dead than I am alive.” Most of us who own term life insurance have probably said this a number of times. It’s enough to make the average life insurance agent wince. The fact is that the average life insurance agent knows that it simply isn’t t true. You’re likely worth a lot more alive than you are dead.
And we’re not just talking about your sentimental and emotional value to your family. Don’t get us wrong; we know they’ll miss you, and you probably have a lot of intangible value to your family. If you don’t, we recommend family counseling, fast!
Believe it or not, though, you have a great deal of financial value to your family. Even if you work in a mediocre job with relatively low pay and little future, the loss of your income would likely hit your family fairly hard.
When you consider purchasing term life insurance, loss of income should be the main factor. Determine how many years of income you would need to replace, and multiply that by your current income. In most cases, you should take that number and add at least 25% to it, to account for the fact that your wages will probably (hopefully) go up at least that much over the course of the term policy.
There are other things to conisder when deciding how much term life insurance you need, of course. Here are the main factors, other than your income, which you will want to consider when deciding how much term life insurance to buy:
  • Debt Repayment. You will want to make sure your life insurance is sufficient to leave your family without burdensome debts after your income is lost. This includes car loans, personal loans, credit cards, and all other forms of credit.
  • Mortgage. This is figured separately from debt repayment because many mortgages have life insurance clauses built in. Additionally, many insurance companies will sell a special kind of term insurance that is designed specifically to pay off your house if you die during the term, and this kind of insurance is much cheaper even than regular term life insurance.
  • Kids’ College Expenses. If you want your kids to be able to attend Big Outofstate U, like their dad did, you might want to put something extra in the life insurance policy to make sure they’ll be able to do that if you die. Even community college is expensive enough to warrant making sure you cover the costs in your policy.
  • Burial Expenses. Even if you want them to cremate you and scatter the ashes in grandma’s meatloaf, it’s going to cost your family several thousand dollars. The average funeral expense is over $7,000 these days, and even if your family goes cheap, they’re going to spend at least $3,000.

Life Insurance Options for Kids

One of the questions we ran into a lot when we were working in the insurance business is, “Why should we put life insurance on our kids.” The answer, abrupt as it may sound, is quite simple: because they could die. Nobody wants to think about their children dying while they are young, of course, but it is possible. So, whether you cover them with term life insurance policies or permanent insurance, don’t neglect insuring your kids’ lives.
How Much Life Insurance Do I Really Need for My Kids?
Kids don’t come into the world with a lot of debt. That starts when they go to college. The only thing you really need to cover for your kids are their final expenses and enough money to allow you to grieve without reporting right back to work on Monday. In most cases, $10,000 is more than enough life insurance to handle that.
Of course, if you are buying permanent life insurance, you may want to consider buying a larger amount. The reason for this, quite simply, is that you lock in a low premium, guaranteeing that your child will be able to continue that life insurance at a low rate for the rest of his or her life. On top of that, you build cash value for your child.
There are many whole life policies which also guarantee your child the right to buy more insurance when he becomes an adult, regardless of health issues he may have developed. And example is Gerber’s Grow Up Plan.
Term Options
On the other hand, if you are buying term life insurance for yourself, many insurance companies will allow you to add small policies on your children as a rider (a small policy that “rides” on your larger policy) on your policy. Sometimes, one small price will cover all of your natural and dependent children.
Some whole life policies even allow you the option of adding your children onto your policy with a term insurance rider. Ask your insurance agent. They often fail to mention term insurance rider options because the commissions on them aren’t very good.

Should I Borrow Money from My Life Insurance?

We’re living in tough times right now. With unemployment hovering dangerously close to double digits and credit harder and harder to come by, many are wondering just what they’re going to do for extra cash, especially with the holiday season upon us. Some may be considering borrowing money from sources such as their cash value life insurance policies. Of course, those with term life insurance don’t have that option, but in most cases, it’s just as well.
Generally speaking, it just isn’t a good idea to borrow money against your life insurance policy’s cash value, even if you are able to do so. Here’s why:
  • You have to pay the money back. Even though it’s your cash value you’re borrowing against, you  like any other loan: with interest. And, like any other loan, the interest rate you will pay for your loan is going to be higher than the interest rate the insurance company pays you on the cash value.
  • Any money you haven’t paid back comes out of the death benefit. If you were to die before you paid back the loan, the insurance company will take the balance of the loan out of the death benefit paid to your beneficiary. Most people really don’t have enough life insurance as it is, and if something happens to you, your family will need that money to handle final expenses.
  • The loan doesn’t help your credit rating in most cases. While you may find that you don’t have many other options if your credit is poor, you should at least look into all of your other options first. If you have to pay high interest rates anyway, you may as well have it reported so it can benefit your credit rating.
While insurance companies can’t cancel your insurance for failing to pay back a loan (unless the amount owed exceeds the face value of the policy), you can put yourself into a really bad position by borrowing against your life insurance policy. If you’re that hard up for money, you’d be better off simply cashing out your whole life insurance policy and buying term life insurance instead. It may not build cash value, but the premiums are a lot cheaper, and we’re sure you have better purposes for the rest of the money.

Don’t Be a Sucker – How to Avoid Life Insurance Fraud

If there’s money involved, there are folks out there who will try to find a way to take it. It’s true in politics, in entertainment, in sports, and even in life insurance. While just about everyone can benefit from having a trem life insurance to give them peace of mind and protect their family, the fact is that there are people out there intent on stealing your money (and your peace of mind).
Here are some things to remember during the process of buying life insurance that will help you to avoid getting ripped off:
  • If something sounds too good to be true, it probably is. Don’t allow yourself to get sucked into a scam just because it’s attractive.
  • Don’t ignore mail from your insurance company. Even if your agent tells you the correspondence is a mistake, you should follow up with the company directly.
  • Watch out for a policy that promises “vanishing premiums.” You may find that the only thing that vanishes are your premiums when the company takes them from you. This can be a legitimate feature, but make sure to check it out first.
  • Don’t get pressured into buying too soon. While you can’t be sure if or when disaster will strike, there is the highest probability that you will live long enough to have a few days to do some research and consider the purchase.
  • Don’t buy something you don’t understand. No one expects you to become an expert with actuarial tables, but you should grasp at least all of the basic concepts.
  • Don’t confuse life insurance with retirement income. Yes, some policies do offer a cash value. These “whole life” policies are very much out of style, however, and most experts believe that term life insurance is the more useful and affordable product.
  • Keep everything. Make sure you have a hard copy printout of your policy, and store it somewhere safe.
  • Never give money to anyone without a receipt. This includes your insurance agent.

Saturday 19 March 2011

Medical Insurance News

India gained its independence from Britain in 1947. That same year the large Muslim population of the country separated from the Hindu dominated nation of India and created an Islamic state in the form of Pakistan. The formation of Pakistan lead to tension with the Hindu nation of India, and since 1947 the two countries have experienced frequent conflicts with each other, mainly over the disputed Kashmir territory. In 1971 eastern Pakistan severed all ties with Western Pakistan and became Bangladesh (a second predominantly Muslim nation in the Indian subcontinent). In 1998 both India and Pakistan announced that they had fully functional nuclear weapons programs; this has done little to ease the tensions between the two countries, however, in recent years there has been a large amount of forward movement in terms of diplomacy and cooperation between both India and Pakistan.
Since 2002, modern day Pakistan (so named because it incorporated the 5 northern provinces of British India, comprising Punjab, Afghania, Kashmir, Sindh, and Baluchistan), has experienced high levels of economic, military, and social growth. In the aftermath of the US-Afghanistan war, Pakistan has strengthened its relations with the USA, and as a direct consequence of this has attracted a large number of foreign investors and increased investment in almost every sector of the economy. In the modern world Pakistan plays a very important role in the development of the Asian region. Recent wide-ranging economic reforms have helped the Pakistani economy to become one of the fastest growing in the South Asian region. Coupled with the country's technological achievements, such as the construction of the world's fifth largest dam or its strong nuclear power program, these economic gains have helped to stabilize what was once seen as a large investment risk.
Pakistan is the sight of some of the earliest human settlements, and the country has as rich a history as it's neighbor India. Pakistan also has some of extraordinary landscapes in Asia, and as such welcomes millions of tourists every year. Out-side of this extremely strong tourist industry, the recent gains achieved in the economy have attracted a large number of foreign national to relocate to the country on a permanent basis. This has, in turn, had a significant impact on the Pakistani economy, and has allowed it to grow even further.
It should be noted, however, that there is frequent sectarian tension (and sometime even violence) throughout the nation. The US lead war in Afghanistan has forced large numbers of Al-Qaeda linked insurgents into the country and this has resulted in heightened foreign tensions, especially with the USA, as Pakistan has refused to let the American military operate on its soil. Because of frequent issues revolving around violence many foreign nationals who are traveling or relocating to Pakistan often have extreme concerns about the state of the country's healthcare system.
Pakistan has an extremely robust healthcare system. As an extremely active member of the United Nations, Pakistan is committed to following and modeling its own social service systems after those recommended by the UN. This has lead to Pakistan having an extremely comprehensive medical system, and the country is able to offer some of the highest quality medical treatment in the South Asian region. With a mixture of both public, and private medical facilities, the healthcare system in Pakistan is able to deliver a wide range of medical options. It should be noted, however, that due to the country's ongoing state of struggle with India, and the prevalence of natural disasters, such as earthquakes, there can times when the healthcare system is placed under large amounts of strain.

About Medibank Life Insurance

Medibank Life Insurance can provide up to $1.5 million of cover, depending on your age at joining, to assist your loved ones if the worst was to happen and you were no longer there to support them.
With Medibank Life Insurance, you’ll get a list of benefits to help you feel secure about your family’s future:
  • Comprehensive cover up to $1.5 million
  • Early payment for funeral expenses
  • Terminal illness benefits
  • Accidental injury benefits
  • Flexibility with additional optional benefits
  • Simple application with no medical or blood tests
  • Guaranteed to be renewed for life
  • 10% saving for Medibank Private Members
Medibank Life Insurance is a flexible policy. You can just take out life cover, or you can add any of the following options in the one simple plan. And it’s all paid as one regular premium – it’s that easy.

Trauma cover

Anything could happen and it’s impossible to know in advance how certain events could affect your life. So Trauma cover can provide some good news when you really need it most, to help you get back on your feet after a setback.
If you suffer one of the specified conditions, including a heart attack or a stroke, you could receive a lump sum payment of up to $250,000. You choose how to spend the benefit, whether you need to make modifications to your home, or to cover day-to-day expenses. It’s up to you.

Permanently Unable to Work cover

It’s a scary thought that an illness or injury could permanently change your life as you know it. But you’ll still want to make the most of life and with Permanently Unable to Work cover, you’ll have peace of mind.
If an accident or a change in your health means you’ll never be able to work again, the payout could be used to help replace your lost income. You can apply for up to $1.25 million of Permanently Unable to Work cover and, because it’s paid as a lump sum, you have complete control over how it’s used.

Children’s Insurance cover

If you have children, you’ll find it reassuring to know that you can get special insurance for them too.
This cover option can provide a lump sum benefit of up to $50,000 if your child suffers a covered traumatic illness. This could be invaluable to help pay for things like ongoing specialist care or allowing a parent to take time off work to be with the child. Just call 1300 722 568 to get a quote or to add Children’s Insurance to your policy.
You should read the combined  carefully before deciding whether or not to buy Medibank Life Insurance and base your decision on that document. Medibank Life Insurance is issued by Swiss Re Life & Health Australia Ltd ABN 74 000 218 306 AFSL 324908. It is promoted and distributed by Medibank Private Ltd, ABN 47 080 890 259 AR 286089. Medibank Private is acting as the authorised representative of Hollard Financial Services Pty Ltd, ABN 53 128 692 884, AFSL 343079 of Level 38, 2 Park St, Sydney NSW 2000. Advice on this website is general only and does not consider your individual objectives or financial situation.

Life Insurance Quotes

We can provide you with over 15 different Australian Life Insurance Companies prices and quotes at a click of a button. Simply use the form on the right hand side and click ‘submit’ and you will be able to compare lots of different prices. This will enable you to find the best quotation for your life insurance policy. Not only this, it will allow you to find the best deal on life insurance. Of course, to take out a policy you will need to speak to our friendly life insurance experts to go through the underwriting questions.
Is life insurance expensive? Ask yourself, is paying a monthly premium for the peace of mind knowing that your family will be taken care of financially important to you? If you answer yes, then get yourself a quote on life insurance so you can make an educated decision on whether Life Insurance is affordable for you.
Use the enquiry form on the right hand side of this page and we will try and get the best valued life insurance cover available for you, we compare over 15 life insurance companies prices to find you the best deal.

Life Insurance Cover

There are several types of life Insurance cover available in Australia, the most popular Life Insurance policy is a ‘term life’ policy. This has replaced the ‘whole of life’ type policies. Typically a Term Life policy will cover you from the time you take out the policy until the age of 99. If you do make it to 99, your policy will cease. If you die before the age of 99 then your beneficiaries will receive a lump sum payout.
To get cover for Life you will need to go through a series of underwriting questions and in most cases today, you do not always need to get a medical report from your doctor. Instead, you will be on a recorded phone call with one of our experts who will ask you a series of specific medical questions to see if you qualify.
Life Insurance Cover can provide you with the peace of mind knowing that if something were to happen to you, that your family will be ok. If you don’t take life insurance and something were to happen to you, how would your family cope financially? Would they be ok? If the answer to this is no, or you would simply like to leave a nest egg for your family, then make an enquiry with our team and we can assist you in taking out a life insurance policy.

General Life Insurance

General Life Insurance is your typical Life Insurance policy in Australia. With General Life Insurance you will be required to go through a series of underwriting questions to see if you qualify for cover. With General Life Insurance you are not guaranteed to be covered, however, if you have a clean bill of health, you shouldn’t have any problems.
You need to go through underwriting with General Life Insurance because of the large sums of money being offered as insurance. The better your health, the less risk you pose to the Life Insurance company, conversely, if you have had a health issue, you pose a greater risk to the insurance company and may not qualify, or have an additional loading added to your premium, making it more expensive due to the increased risk.
We suggest you make an enquiry where we can take you through the underwriting questions to see if you qualify. We encourage you to get Life Insurance cover sooner rather than later, as the longer you leave it, the more chance you have of getting health issues which may affect the cost of your premiums or whether you get cover or not.
Other types of Life Insurance include Funreal Insurance which is also some times referred to as Death Cover.

Pakistan Insurance

JS Group is the second-largest shareholder in the EFU Insurance Group, Pakistan’s largest insurance group.

EFU Insurance Group was established in 1932 as the Eastern Federal Union Insurance Company and grew to become the largest life assurance company in Asia (ex-Japan) from 1961.  In 1972, the life assurance business was nationalised but EFU continued as a general insurance company.  Today, it is Pakistan’s second-largest general insurer.
In 1992, the private sector was again permitted to carry out life assurance and EFU Life Assurance was launched by EFU General in conjunction with the JS Group.  Today, this company is the largest private sector life assurance company in Pakistan with a sales force of over 1,500 people and over 50% share of the life insurance business.

EFU General Insurance
EFU General is engaged in the general insurance business comprising of fire, marine, motor and engineering insurance.
The shares of the company are quoted on the Karachi and Lahore Stock Exchanges. The principal place of business is located at EFU House-Karachi with over 72 branches throughout the country.
EFU Insurance Group is one of the few Pakistani insurance organisations run entirely by professional management and with a highly-motivated field force. EFU General has obtained Insurer Financial Strength Rating of ‘AA Stable Outlook’ by the rating agency JCR-VIS.
A unique feature of EFU Insurance Group is its voluntary review mechanism by professionals of international repute. The independent reviews by these professionals enable the company to keep abreast of international changes in the industry as well as ensure that management adopts the best international practices.
Another pillar of EFU Insurance Group’s strength is its very close and long-term (over 50 years) relationship with its main reinsurer, ‘Munich Re’, one of the largest reinsurance companies in the world.
EFU Life
In 1992, the Government of Pakistan reopened life insurance business to the private sector organizations and EFU Life Assurance Ltd was incorporated as the first private sector life insurance company. In early 1993, EFU Life commenced writing group life insurance business and, by March 1994, the company began writing  individual life business.
The company has a growing network of 72 branches throughout the country with employee strength of over 1,600 in its sales force and around 150 at its main offices in Karachi and Lahore. The company employs 5 full-time actuaries and also engages one of the leading actuarial firms in the country.
EFU Life is the first life insurance company in Pakistan to be awarded the ISO 9001:2000 certification. Today, EFU Life continues to be the largest private sector life insurance company in Pakistan. EFU Life was the pioneer in introducing the following products and features in Pakistan:
Unit-linked products
Critical illness products
Education planning product
Inflation protection benefit
Tax qualified pension plans
Extended critical illness product (covering 379 medical conditions)
Allianz-EFU Health Insurance
In 2000, EFU Insurance Group formed a joint venture with Allianz AG to incorporate Allianz-EFU Health Insurance, Pakistan’s only specialised health insurer. Allianz EFU Health is a joint venture between the leading insurer in the world, Allianz Group, and the most experienced local insurer, EFU Insurance Group. It was the first company in Pakistan to offer health insurance to individuals and families, and companies with as few as five employees. To ensure quality, Allianz-EFU is implementing an Integrated HealthCare delivery system.

EXECUTIVE HOME INSURANCE

Do you need cover for High-value Buildings and Contents? 

EXECUTIVE HOME COVER FOR HIGH-VALUE BUILDINGS AND CONTENTS

Legal & General introduces Executive Home Insurance provided by Sterling Insurance Company Ltd. Executive Home is tailor-made to provide you with bespoke cover for high-value buildings and/or contents. It enables us to offer cover for homeowners with higher than average sums insured or who have special insurance requirements.
  • Executive Home Cover is a specialist household policy that automatically provides comprehensive protection
  • It's been designed to help ensure that your property and contents are fully covered against most mishaps
  • It provides quality all risks* cover as standard, plus you can tailor your quote further with optional add-ons
  • Personalised Underwriters that recognise that specialist insurance requires special attention and have the expertise to help you

QUALITY COVER AS STANDARD FOR:

  • Fine art and antiques - including paintings, high-value jewellery and watches
  • Business equipment
  • Identity theft protection
  • Legal expenses
  • Domestic emergencies
  • Up to 3 years alternative accommodation
  • Non-standard constructions such as thatch, listed buildings and period properties

OPTIONAL ADD-ONS TO TAILOR YOUR QUOTE FURTHER

You can also tailor your policy to include a range of optional add-ons, just speak to your own dedicated underwriter for further details when obtaining your quote:
  • Road rescue
  • Pet
  • Travel
  • Second or overseas home
  • Yellow tag luggage retrieval service

SPECIALIST HIGH VALUE HOME INSURANCE

  • Sterling Insurance has over 50 years experience in underwriting mid to high net worth products. Executive Home provides you with a flexible and proactive approach so you know that your insurance will be underwritten to meet your needs.
  • You will speak directly to an underwriter who will be able to answer any questions you have and advise you every step of the way.
  • Your dedicated underwriter is able to give immediate decisions and is committed to delivering market-leading products with the service and attention you deserve.

IMPORTANT INFORMATION

Please note that home insurance is designed to cover certain unforeseen events but doesn't cover everything. It does not cover things like general wear and tear or damage that happens gradually over a period of time. There is also an excess on each claim

Auto Insurance

NC auto policies are issued with state-mandated industry-wide coverages.  **See policy for restrictions.
1 Deductible Savings BenefitSM is not available in all states. In NY, drivers must pay a state-required minimum deductible before using this benefit.
2 Subject to deductible and state availability. See policy for restrictions.
3 Motorcycle insurance is not available in all states. Coverage features and discounts vary and may not be available in all states.
4 Does not apply to leased, substitute, or non-owned autos. See policy for restrictions. Not available in all states, such as NC. Subject to deductible. Applies within the first 12 months, or first 15,000 miles of ownership, whichever comes first.
5 Auto/Home Multi-policy Discount: A discount will apply to the total policy premium for those insured with both home and private passenger automobile insurance with MetLife Auto & Home. The percentage amount of the discount may vary by state. The Auto/Home Multi-policy Discount is not available to auto policies where the insured's homeowners insurance is a renters policy, and is not available on the homeowners policy, if the auto policy is written in Metropolitan General Insurance Company or at a nonstandard rate level.
6 Receive 5% off your auto policy premium when you already purchased qualifying life insurance or annuity products written by Metropolitan Life Insurance Company or an affiliated company domiciled in the United States. In some states, discount available for having qualifying bank account with MetLife Bank®. Not available in all states.
7 Telephone quotes are not available in all states.
MetLife Auto & Home is a brand of Metropolitan Property and Casualty Insurance Company and its affiliates: Economy Fire & Casualty Company, Economy Preferred Insurance Company, Metropolitan Casualty Insurance Company , Metropolitan Direct Property and Casualty Insurance Company (CA Certificate of Authority: 6730; Warwick, RI), Metropolitan General Insurance Company, Metropolitan Group Property and Casualty Insurance Company (CA COA: 6393; Warwick, RI), and Metropolitan Lloyds Insurance Company of Texas, all with administrative home offices in Warwick, RI. Coverage, rates, and discounts are available in most states to those who qualify.
Like most insurance policies, MetLife Auto & Home's policies contain exclusions, limitations, reductions of benefits and terms for keeping them in force. For complete costs and details, see your MetLife Auto & Home Representative.

5 Life Insurance Questions You Should Ask

f you're in the market for life insurance, you might have been tempted by those ads claiming that "for just a few dollars a day, you can protect your family with $1 million in life insurance!" It sounds like a great deal, doesn't it? These ads typically refer to trem life insurance. As its name implies, term life insurance provides protection for a limited amount of time - or a specific "term" of years, such as 10, 20 or even 30 years.
It's fairly simple; if you die while your policy is active, your family will receive a death benifit, but the many types of term insurance and options can be confusing. Is term life insurance likely to pay off for you? Start by asking yourself the following five questions.
1. What am I trying to accomplish?Before you buy any kind of life insurance, think about why you're buying it. Are you protecting your family in case of an early death? Have you taken on additional debt that requires you to provide coverage? Are you looking to leave an inherinty to a charity?
Understand that in most cases, term insurance policies do not pay a claim - most people who buy term insurance "outlive" their policy's term. As a result, if you're shopping for insurance to protect financial obligations you may have for a very long time - possibly for the rest of your life - consider exploring another type of policy, called Preamnen Insurance.
If you're in a cash crunch and have immediate obligations to your family, business partners, or lenders, term insurance can provide you with a quick, simple, short-term solution.
2. What's available?Most people will have access to at least one of the two types of term insurance policies: group or individual.

  • Group - Most companies offer their employees some form of term life insurance as an employee benefit. This is called group term insurance, because you're getting protection as part of a larger group. Usually it's deducted right from your paycheck and the only requirement for coverage is to complete a brief questionnaire with details of your health history. Here are some of the advantages of group term insurance:
    • It's easy - You can usually sign up for a policy when you take a new job and enroll in your company's benefits program. You may also have an opportunity to sign up during the annual enrollment period at your company; when you may sign up for other benefits, such as medical, dental, .
    • No medical - Most group plans don't require a physical exam. A statement of good health, along with a medical history, is usually all that's required to secure coverage.
    • Automatic payments - Through payroll deduction, you'll hardly feel the financial hit of paying premiums every month.
  • Individual - As its name implies, an individual policy is one in which you apply for coverage on your own. You - or typically a family member - will own the actual policy. In order to obtain an individual policy, you'll probably have to undergo a medical exam of some sort, provide a detailed medical history, and give the insurance company permission to look into your medical records and perform a background check on any driving offenses and criminal activities. This might sound a little invasive, but there are some great benefits to owning an individual life insurance policy.
    • It's portable - If you take a new job at a different company, you don't have to worry about losing your life insurance protection.
    • Level Premimus - Generally, individual policies can be structured to have level premiums for the duration of the policy; typically this is a 10-, 20- or 30-year period.
    • Flexibility - If you ever want to upgrade or convert your term policy to a permanent policy, you might have more options available with an individual policy than you would with a group plan.
3. What if I don't die?Ironically, some people who buy term life insurance get upset when they find out that if they don't die, they don't get anything back.
If this is a concern for you, it's important to get an understanding of what will happen to your policy as you near the end of the term.
  • Premiums go up - Many term policies offer level premiums for several years (10, 20 and even 30 years, for example). As you approach the end of that term, you may have the option of keeping your policy. If you do, you can expect a hefty jump in your premium.
  • Might need a new policy - If you are still healthy at this time in your life and you want to keep the coverage, it may be best to apply for a new policy.
  • Drop in coverage - Perhaps you only wanted your policy to cover you as long as you had a mortgage, or until your children's college education was paid for. If that's the case and you have no other obligations to protect, you might want to let the coverage expire.
  • Upgrade the policy - Most term policies come with a "conversion privilege". This allows you to essentially trade in your old term policy for a new permanent policy.
4. How can I upgrade this policy?As mentioned previously, most term policies allow you to convert from a term policy to a permanent one. This is a great feature that provides future flexibility but because some policies have limitations, you should familiarize yourself with the conversion rules of any policy you're considering. When can I convert?
The conversion privilege might have a time limitation on it, to age 70, for example. Some policies allow conversion during the entire term of the policy.
What can I convert to?
The most generous term policies allow you to convert to any type of permanent policy available, such as whole life, universial life, or variable universal life. Some term policies may force you to convert specifically to just one type, and some companies may not offer all types, which can also limit your options down the road.
5. Where do I buy a policy?Chances are you'll probably hit the major internet search engines first when looking for information about buying a policy. A number of online distributors can provide you with a term insurance policy. These distributors typically focus on finding the lowest cost policy, given the personal information you provide.
For a more personalized experience, you might consider finding a professional. An insurance agent will help you understand all the different variations of insurance - both term and permanent - and should be able to answer any questions you might have. You can find one by visiting any of the major company websites or combing through your local phone books, but probably the best way to find a representative is to ask around for a referral from a friend or business associate.
Finally, for group coverage, you can check with your employer. If you're self-employed, you may have access to a group plan through a professional association, or you may even be able to put a group plan in place for yourself and your employees.
Million-Dollar DreamsAfter going through these five questions, you will be able to decide for yourself if that million-dollar coverage ad is really what you need to provide for you and your family. If it's not, don't be afraid to pass it by - there are hundreds of policies waiting to provide you with the peace of mind you're looking for.

How Is a Whole Life Insurance Premium Calculated?

A whole life insurance premium is the money paid to a life insurance company in exchange for the company’s promise to pay a set amount in accordance with the policyholder’s instructions, upon the death of the insured person. Many factors affect the amount of the premium, the most important of which are the age, gender, health and lifestyle of the insured. Other factors include the costs involved in selling and maintaining the policy, as well as establishing the savings component of the policy, called the cash value.
The age, gender, health and lifestyle of the insured are taken into account by the insurance company, or carrier, when the application for insurance is first submitted. Based on the information provided, which the carrier may choose to verify by sending the applicant to its own doctor for an exam, the carrier may have a very good idea of how long the applicant can be expected to live under normal circumstances. The carrier also knows, based on  of mortality statistics, how many people the applicant’s age can be expected to die in the current year. It is the carrier’s obligation to meet the death benefit claims of that percentage of its policyholders the same age, gender and lifestyle as the applicant that determine the premium charged for life insurance. Lifestyle issues can be particularly influential, with tobacco use especially being considered a major factor in reduced life excpantent..
For example, if a carrier has 1,000 female, non-smoking policyholders age 30, with an average of $25,000 US Dollars (USD) death benefit per policy, and the carrier’s actuarial analysis suggests that 10 of them, or 1%, will die in that year, the company knows it’s probably going to have to pay out about $250,000 USD in death benifith for that particular group of people. Thus, just to meet the death benefit obligation, the carrier must collect a total of $250,000 USD annually from that group, or $250 USD per person — or $10 USD per $1000 USD of insurance. That’s the rate, or "cost of insurance," the carrier will charge a 30-year-old, non-smoking female applicant. The cost of insurance increases annually, as the population ages; a group of people age 40 will have a higher mortality rate than a similar group of people age 30. 
Other items besides the cost of insurance are included in a whole life insurane premiure though. Hazardous occupations, such as firefighting , as well as dangerous hobbies like sky diving or cross-country motorcycle racing, can have a dramatic impact on a whole life insurance premium, if the carrier even agrees to issue the policy. Sales costs are also included in a whole life insurancy policy. and can be significant. Some carriers pay their sales agents a commission of up to 110% of the first year’s premium for certain life insurance policies, although most commissions paid for whole life insurance sales are in the range of 40% - 70% of the first year’s premium. Administrative costs are included in a whole life insurance premium as well; things like office rents and administrative staff compensation. The carrier also includes an amount in the premium as profit.
The other major component of a whole life insurance premium is the savings amount, which is an amount of money that’s invested and retained in the policy as “cash value.” Over time, this can grow to a significant amount, and whole life insurance is often promoted as an investment that policyholders can use to subsidize their retirement. Cash value is an asset that can be borrowed against or used as subject to some restrictions imposed by the carrier. Retired people with whole life insurance policies can borrow from their cash value or just draw it down. The death benefit paid will be decreased by any amounts drawn down, as well as by any outstanding loans. Since  haven’t got the same life insurance needs as their younger counterparts, however, that’s not a disadvantage, according to whole life insurance proponents.
An attractive feature of a whole life insurance policy is that as long as the premiums are paid on time, it remains in force for the life of the insured, and the premiums remain level. Since the cost of insurance can be expected to increase annually, the carrier keeps the whole life insurance premium level year after year by reducing the amount of the premium payment that’s contributed to the cash value by the same amount that the cost of insurance increases.

What is Life Insurance?

Life insurance is a form of insurance that pays monetary proceeds upon the death of the insured covered in the policy. Essentially, a life insurance police is a contract between the named insured and the insurance company wherein the insurance company agrees to pay an agreed upon sum of money to the insured's named  so long as the insured's premiums are currentPeople take out life insurance policies for a number of reasons. Such insurance provides security to family members upon the loss of a loved one. For instance, if the primary wage earner dies in his or her prime, the death benefit received from a life insurance policy will assist the surviving family members in overcoming the burden of the tragic loss. Life insurance can be purchased by individuals, but is also offered as a perk by many employers. Often times, large employers and government employers offer  at no cost to the employee. Should the employee wish to obtain additional life insurance from the employer's insurance company, they can usually do so at reduced rates.
The cost of life insurance varies depending on such factors as the insured's age, health, and occupation. For example, the premium for a 25-year-old, male, non-smoker in excellent health will be far less expensive than a similar policy for a 65-year-old male smoker. Similarly, a sky dive instructor would have to pay much higher premiums for life insurance than would a librarian. Life insurance is available in a number of different forms to fit the tastes of the proposed insured. Some of the typical forms of life insurance policies include: whole life, varaible life, and term life. life insurance policies begin with low premiums during the initial stages of the policy and these premiums increase steadily as the insured grows older. There is no cash build-up in a term policy and, accordingly, the death benefit will not increase.
With whole life and variable life insurance, a portion of each premium pays for the insurance and the remainder serves as a tax-free investment. A whole life policy sets a premium at the beginning of the policy and that premium does not change over the life of the policy. This form of insurance allows for a cash build-up during the insured's life. This cash build-up can be used during the course of the policy or it will simply serve to increase the death benefit in the end.

Postal Life Insurance

Postal Life Insurance is the oldest organization of its kind in the Subcontinent. Established by the British Raj in 1884, initially to assure the lives of postal mail runners, its services were gradually extended to other government employees as well. Nonetheless, its benefits were not available to general public until 1947. After independence Postal Life emerged as a key player in life insurance business and offered its services to every one.
Postal Life Insurance is the brain child of Ministry of Finance. Pak Post serves as its agent. However Director General Pakistan Post is exclusively responsible for managing, organizing and controlling its operations and marketing its various products. Postal Life is exempted from corporate and income tax. All the money generated is invested in Post Office Insurance Fund controlled by the Ministry of Finance. Pak Post gets a return at the prevailing government investment return rates. This policy ensures security of fund, attractive return and increased public confidence.
Postal Life has an unbeatable presence in the rural areas due to extensive network of post offices. Every post office serves as its outlet. This gives Postal Life an enormous advantage over its business rivals and helps to offer a wide range of insurance policies to customers at the lowest premium while ensuring highest bonus on their investment.

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