Frequently asked questions (FAQ)

General FAQs

Where can I access information on After Sales Service?

Click to access the relevant language version of information on After Sales Service (English/Urdu)

Where can I access information on rebranding of Jubilee Life?

Click here to view information on Jubilee Life Insurance brand.

How can you reach us?

Access the details by clicking on the relevant language version (English/Urdu).

Where can I get information on Individual Life Policyholders?

Click here to find out more information on individual life policyholders.

Where can I get information on Group Life Insurance?

Click here to find out more information on group life insurance.

Where can I get information on Group Health Insurance?

Click here to find out more information on group health insurance.

What are the details that I need to know while purchasing a Life Insurance Policy?

Click here to find out more.

What is an endorsement?

Endorsement means the incorporation of changes / amendment / revision / alteration in the benefits, rates, age limit, Premium Due Date, Policy Expiry Date or changes in others terms and conditions in the Policy Document.

Who is life-proposed?

Life-Proposed is a prospective customer seeking financial protection of his near and dear ones through investment in a life insurance policy.

Who is a policy owner?

Policy Owner is our customer who owns a life insurance policy. The Policy Owner is usually also the Life Assured under the policy.

Who is life assured?

The life proposed becomes the life assured once his proposal (application) for insurance is accepted by the company.

What is a proposal for insurance?

Proposal for insurance is the application made on prescribed company performa by the policy owner / life proposed for a life insurance policy from the company.

What is sum assured?

It is the amount for which the life assured is initially covered under the policy. Sum assured amount is mentioned in the policy schedule attached to the policy documents. In certain unit linked policies sum assured keeps growing annually through a feature called indexation.

What is premium?

It is the amount paid by the policy owner for purchase of a life insurance policy. Subsequently, renewal premiums are paid by due dates or within the grace period to ensure that the policy remains in-force and that the benefits available under the policy remain intact.

What are supplementary benefits?

These are additional benefits available to the policy owner / life assured besides the main benefit. Some additional benefits, such as the accidental death rider and the family income benefit provide for additional payments besides the basic sum assured in the event of a claim.

What is plan illustration?

Plan illustration is the projection of anticipated values & benefits to give an idea to the client what the cash values might be provided rates of returns & profit margins remain as illustrated. Plan illustration is to be signed and submitted by the policy owner with proposal for insurance at the time of applying for an insurance policy from jubilee life.

What is personal financial review?

Personal financial review form is an assessment of the financial worth and financial needs of the life-proposed which is completed by our insurance consultant and signed by the life proposed and submitted along with the proposal form of the life proposed at the time of applying for a life insurance policy with Jubilee Life.

What is unit account fund selection form?

Unit account fund selection form enables the policy owner to selects fund(s) of his choice for allocation of premiums in the unit account of his policy. This form is completed, signed and submitted by the life-proposed / policy owner at the time of applying for a life assurance policy or whenever he wishes to switch funds and redirect premiums under his policy.

How would I know that my proposal for insurance has been accepted by Jubilee Life?

If your proposal for insurance has been accepted by jubilee life, you would immediately receive a short message service (SMS) alert on your cellular phone number registered with us, informing you that your proposal for insurance has been accepted. Subsequently you will also receive your policy documents through courier / registered mail.

What are policy documents & what do they consist of?

Policy document is the printed and signed insurance contract between the policy owner and jubilee life. Policy documents consist of the policy schedule, stamp duty page, standard policy conditions and supplementary contracts (if provided for in the policy).

What is the importance of original policy documents?

Original policy documents are proof of contract between the policy owner and jubilee life. Policy documents are required to be submitted at the time of surrender, partial withdrawal (surrender) and for lodging benefit for claim. Therefore, the documents must be retained in safe custody.

How do I acquaint myself with the benefits of my policy?

You must go through the contents of the standard policy conditions of your policy document to acquaint yourself with the benefits that your insurance policy brings to you. You may also enquire from our help desk by calling on (021) 111 111 554.

Can I apply for duplicate policy documents if I have lost my original policy documents?

Yes. You can apply for duplicate policy documents by submitting affidavit & declaration for issuance of duplicate policy documents and indemnity bond for issuance of duplicate policy documents along with processing fee and stamp duty charges as applicable.

What is a unit-linked plan?

A unit-linked plan is a policy under which a unit account is created at inception of the policy wherein notional units are allocated out of the premiums remitted by the policy owner from time to time which accumulate in the form of cash value payable to him at the time of surrender (withdrawal) or maturity of the policy.

What is unit account?

Unit Account is the notional account created at the time of the issuance of the Policy wherein notional units are allocated out of the basic premiums paid by the Policy Owner from time to time in accordance with Basic Premium Allocation Percentage mentioned in Policy Schedule attached with Policy Documents.

What is offer / bid price?

Offer Price is the fund price of that day on which notional Units are created out of the Basic / Adhoc premium allocated to the Unit Account of the Policy. Bid Price is the fund price of notional Units available in the Unit Account of the Policy on any given date during the tenure of the Policy. Units are encashable, as per Standard Policy Conditions and Company Rules, from the Unit Account of the Policy by the Policy Owner at the Bid Price. Currently there is difference of 5% between Offer and Bid Price.

What is cash value?

Cash Value means the aggregate value, at Bid Price of Units available in the Unit Account of the Policy, on the relevant day to which it applies, determined by multiplying the number of Units in the Unit Account by the applicable Bid Price.

What is endorsement?

Endorsement means financial or non-financial changes / amendments / alterations / revision in the benefits & values of the Policy as per terms and conditions of the Policy. Financial alteration / revision can only be requested at Policy Anniversaries.

Can I access information of my policy online?

Yes. You can access your policy information at Policy online. However, before accessing your policy details at Policy online, you must login with your registered Email ID with us. In case your email ID is not registered against your policy, do register yourself through submission of Endorsement Request Form.

What is indexation?

Indexation means enhancements in premiums, values and benefits of certain Unit-Linked Policies by a formula-driven percentage at every Policy anniversary to keep them free from negative repercussions of inflation and currency devaluation. The option of Indexation is at the discretion of the client.

What is surrender value?

Surrender Value means the Cash Value available to the Policy Owner in the Unit Account of his / her Policy on the day the Policy surrender is processed.

How can I access TEXT2ASK Service?

Click to access the leaflet of TEXT2ASK Messaging service in your preferred language (English/Urdu)

Can I query by using short messaging service (SMS) through my cellular (mobile) phone?

Yes! You can acquire information via SMS query system called as TEXT2ASK Service by typing JUBILEELIFE<space>Your Query & send it to 8398. However, before using TEXT2ASK Service, your cellular (mobile) phone number must be registered with us. To register your cellular (mobile) phone number with us, please submit Endorsement Request Form duly filled & signed by policy owner (in case of differ of policy owner & life assured, signatures of both are required).

How can I query via short messaging service (SMS) through my cellular phone?

You can query via SMS from your registered mobile phone number or you can simply type any one of the following QUERY CODES to get the instant information against your policy:

  • CV for Policy Cash Value
  • SCD for Sales Consultant Details
  • PRD for Premium Details
  • FNP for Fund Price Details
  • PSD for Policy Status and Details
  • HLP List of available quick query codes

Write JUBILEELIFE <space> QUERY CODE and your Policy Number. For E.g JUBILEELIFE CV 12345. Send your SMS to 8398 and obtain the desired information.

What is corporate health insurance?

Corporate Health Insurance is an outsourcing of medical facility of the employees and their dependents by the Employer to the Insurance Company. It is universally acknowledged as best way to safeguard employee’s interest in the event of loss by illness or bodily injury.

What are the steps to be followed for acquiring corporate health insurance?

Step 1: Submit data including ages, designations and benefits to be offered to employees.

Step 2: Submission of Proposal quoting Premium which is based on age band rates applied on the provided data of the company according to the required benefits.

Step 3: Send acceptance along with the payment of the Premium.

Step 4: Issue Healthcare Identification (HCI) cards and Policy Document.

What is corporate life insurance?

Corporate Life insurance is term life insurance that extends cover to a group of people usually employees of Companies, Banks, NGOs or members of a union or association for a defined period. It covers such Groups that exist for purposes other than to purchase insurance.

Who is a policy holder?

A Policy Holder is the Company, Bank, NGO or any Organization, Society, Association, Union etc. that obtains Life Insurance Cover for the employees / members of that Corporate Entity.

What is premium bill?

Premium Bill is an invoice of the amount that the Policy Holder is required to pay to the Life Insurer, enabling the Insurer to provide life insurance to cover the Group of Employees/ Members of the Insurer.

What is policy document?

The Policy Document is a legal contract which is also called the Master Contract embodying the agreement between the Policy Holder & Jubilee Insurance. This Legal Document is issued for a defined term.

What is an endorsement?

Endorsement means the incorporation of changes / amendment / revision / alteration in the benefits, rates, age limit, Premium Due Date, Policy Expiry Date or changes in others terms and conditions in the Policy Document.

What are some of the “Do’s” and “Don’ts” for customers?

Click here to find out more information

Manage Your Policy

How can I manage my policy according to my changing needs?

Get Duplicate Policy Documents 
If you have lost your original policy documents, you can apply for duplicate Policy Documents by submitting:

  • Affidavit & Declaration for Issuance of Duplicate Policy Documents
  • Indemnity Bond For Issuance of Duplicate Policy Documentsalong with processing fee and stamp duty charges as applicable.

It is advisable to contact your Service Person (of your respective branch) or our customer services team for detailed requirements. The required documents must be properly completed and sent to:

Customer Experience Department – Head Office
Jubilee Life Insurance Company Limited,
74/1-A, Lalazar, M.T. Khan Road,
Karachi – 74000, Pakistan,
Telephone: (021 ) 35205095
Fax: 021-35610959
Email: info@jubileelife.com

How can I change my name?

You must at the earliest update your policy record with correction or changes in your name, name of father, name of any person insured under any benefit of the policy, name of spouse (for females), name of beneficiary and name of guardian (appointed if beneficiary is less than 18 years).

To rectify names please complete, sign and submit the following:

  • Endorsement Request Form (ERF) or your Letter requesting for change (Write the Name in English as you would like it to be spelt, provided the spelling does not differ from the manner it has been spelt in your educational & official documents.)
  • Attested Copy of Computerized National Identity Card / NADRA’s Registration Certificate (Children below 18).
    To change names please complete, sign and submit the following:

  • Endorsement Request Form (ERF) or your Letter requesting for change.
  • Attested Copy of Computerized National Identity Card / NADRA’s Registration Certificate (Children below 18) incorporating changed name.
  • Affidavit on Non-Judicial Stamp Paper of Rs50/= denomination, duly attested by Notary Public or a First Class Magistrate, affirming that the change in name was made in compliance with all requirements of law.
  • Cutting of newspaper Ad announcing your name change

How can I change my date of birth?

You must at the earliest update your policy record with correction or changes in your date of birth, date of birth of any person insured under any benefit of the policy, date of birth of a beneficiary and date of birth of guardian (appointed if beneficiary is less than 18 years). Change or correction in date of birth of a life assured may require re-evaluation of risk and recalculation of premium.

To change or rectify date of birth please complete and submit the following:

  • Endorsement Request Form (ERF) or your Letter requesting for change.
  • Attested Copy of Board of Secondary School Certificate (Matriculation Certificate).
  • Attested Copy of Computerized National Identity Card / NADRA’s Registration Certificate (Children less than 18).

How can I change/update my computerized national identity card number (CNIC)?

You must at the earliest update your policy record with correction or changes in your Computerized National Identity Card Number, the Computerized National Identity Card Number of any person insured under any benefit of the policy, the Computerized National Identity Card Number of a beneficiary, the Computerized National Identity Card Number of guardian (appointed if beneficiary is less than 18 years).

To update Computerized National Identity Card Number please submit:

  • An attested copy of the CNIC

How can I change/update my contact details?

You must at the earliest update your policy record with correction or changes in your Correspondence Address, Email address, Telephone / Mobile phone numbers or any other contact reference.

To change or rectify your contact details please complete and submit the following:

Note

  • Kindly ensure that all documents and forms are signed by you as per signature affixed by you on your Policy’s original Proposal Form.
  • Kindly get attested copies of documents (where required) by a Gazetted Government Official or a senior officer of our Company (Assistant Branch Manager or above). Original copies of documents may be called for inspection.
  • The Original documents & forms (hard copy) properly completed, signed and witnessed must be sent to:Customer Experience Department- Head Office
    Jubilee Life Insurance Company Limited,
    74/1-A, Lalazar, M.T. Khan Road,
    Karachi – 74000, Pakistan,
    Telephone: (021 ) 35205095
    Fax: 021-35610959
    Email: info@jubileelife.com
  • Upon receipt of properly completed documents the changes / corrections would be incorporated in your Policy Record and acknowledged via courier either through Endorsement to Standard Policy Conditions or through letter as the case may be.

How can I make changes in policy benefits & values?

At every Policy Anniversary (the yearly dates following the commencement date of the policy) you can make changes (alterations) in benefits of your Policy such as:

  • Attachment / detachment of a Supplementary Benefit (Rider)
  • Enhancement / decrease in the Sum Assured and / or Rider values
  • Increase / decrease in the Premium amount
  • Change in the Premium Payment Mode (Payment Frequency) (Annual, Semi-annual, Quarterly, Monthly)
  • Change from Non-indexed values to Indexed values or vice-versa (Partial Indexation is also an option)

Step 1

It is advisable to consult your Service Person (mentioned at the right bottom corner of the Renewal Letter) for assistance while requesting for alterations in Benefits & Values of the Policy.

Following documents are required to be completed and submitted. Please ensure that all documents and forms are signed by you as per signature affixed by you on your Policy’s original Proposal Form:

  • Endorsement Request Form (ERF)
  • Declaration of Health and Occupation (DHO) Form
  • Revised Endorsement Illustration
  • Original Policy DocumentsChanges can only be incorporated if the Policy is in-force with all premiums paid and are subject to re-underwriting (re-evaluation) of the risk by Jubilee Life Insurance. Medical tests & Reports may be called to assess and re-evaluate the altered risk. Reinstatement Form (RF) needs to be completed and submitted if the Policy stands lapsed for more than a year.

Step 2

The Original documents & forms (hardcopy) properly completed, signed and witnessed along with the Premium Cheque must be sent to:

Customer Experience Department- Head Office

Jubilee Life Insurance Company Limited,
74/1-A, Lalazar, M.T. Khan Road,
Karachi – 74000,
Pakistan,
Telephone: (021 ) 35205095
Fax: 021-35610959
Email: info@jubileelife.com

Step 3

Once all due requirements are completed to the satisfaction of the Company, the Company considers your request for endorsement and if approved, policy benefits & values are changed and an Endorsement to Standard Policy Conditions is issued, which is sent to you at your mailing address through Courier / Registered Mail.

Step 4

Renewal Acknowledgement Letter, Final Receipt and Policy’s Unit Report (for Unit-Linked policies only) would be sent to you through courier a week later.

What if there is a change in beneficiary/ guardian nominated under the policy?

If you wish to change the person appointed / nominated by you as beneficiary / guardian under the Policy then please complete & submit the following:

  • Endorsement for Change in Nomination (ECN) Form
  • Endorsement Request Form (ERF) or your Letter requesting for change in beneficiary / guardian.
  • Attested Copy of Computerized National Identity Card / NADRA’s Registration Certificate (Children below 18) of the person nominated.

(If the person nominated is a minor (below 18 years), a guardian (above 18 years) too must be appointed).

For complete understanding of the regulations that govern Beneficiary Nomination & Guardianship designation in life insurance policies, kindly refer to Part X (Sections 71, 72 & 73) of the Insurance Ordinance (XXXIX) 2000.

Note:

  • Kindly ensure that all documents and forms are signed by you as per signature affixed by you on your Policy’s original Proposal Form.
  • Kindly get attested copies of documents (where required) by a Gazetted Government Official or a senior officer of our Company (Assistant Branch Manager or above). Original copies of documents may be called for inspection.
  • The Original documents & forms (hard copy) properly completed, signed and witnessed must be sent to:Customer Experience Department- Head Office Jubilee Life Insurance Company Limited,
    74/1-A, Lalazar, M.T. Khan Road,
    Karachi – 74000,
    Pakistan,
    Telephone: (021 ) 35205095
    Fax: 021-35610959
    Email: info@jubileelife.com
  • Upon receipt of properly completed documents the changes in nomination requested by you would be incorporated in your Policy Record and acknowledged vide letter sent to you through courier.

How can I surrender my policy?

After the completion of two policy years (given that two years’ complete premiums have been paid), you may surrender your policy. In case of surrender, Surrender Value (Cash Value available in the Unit Account of the policy) will be payable after deduction of surrender charges (if any). However, surrender in early policy years may result in lower cash values.

If you decide to surrender your policy due to any circumstances, here’s what you need to do.

Step 1

Complete and submit the following documents

  • Request for Surrender Form – duly completed and signed by Policy Owner
  • Bank Account Number with Bank Name & Branch of Policy Owner (duly verified by the concerned bank)
  • Attested copy of CNIC
  • Zakat Exemption Declaration Form
  • Conservation Attempt Form (for policies purchased directly from us through our Sales Force)
  • Original Policy Documents

Note: In case of loss of original policy documents, please provide Indemnity Bond for loss of policy documents.

Step 2

Submit the completed form to your respective branch.

  • Request for Surrender Form – duly completed and signed by Policy Owner
  • Bank Account Number with Bank Name & Branch of Policy Owner (duly verified by the concerned bank)
  • Attested copy of CNIC
  • Zakat Exemption Declaration Form
  • Conservation Attempt Form (for policies purchased directly from us through our Sales Force)
  • Original Policy Documents

Note: In case of loss of original policy documents, please provide Indemnity Bond for loss of policy documents.

Step 3

Upon completion of all due requirements to the satisfaction of the Company, surrender request is processed and Surrender Value Cheque is sent to your respective branch from where you may collect the same.

How can I reinstate my policy?

Reinstatement means the reinforcement of all benefits and values of a Policy which lapsed due to non-payment of renewal premium or which was in-force under the Non-Forfeiture or Paid Up Provision of the Standard Policy Conditions of the Policy.

A 30 (Thirty) Days grace period is provided for premium payments, i.e. if you pay your premium within 30 days after the date the premium falls due, your Policy would be renewed without additional requirements or charges .However should you pay your premium after the 30 Days grace period, then, please follow instructions below to revive your lapsed policy:

Step 1

Fill up the application for Declaration of Health and Occupation (DHO). If the premium is paid 90 days after the due date in addition to Declaration of Health and Occupation (DHO), the current applicable Reinstatement Fee would also be charged / deducted.

Step 2

You will need to provide complete details along with related documents.

Step 3

The form needs to be duly signed by the life insured and the policy holder, if the policy holder is different from the life insured.

Step 4

The Original DHO form (hard copy) properly completed, signed and witnessed along with the Premium Cheque (with or without late fees as applicable) must be sent to:

Customer Experience Department – Head Office
Jubilee Life Insurance Company Limited,
74/1-A, Lalazar, M.T. Khan Road,
Karachi – 74000, Pakistan,
Telephone: (021 ) 35205095
Fax: 021-35610959
Email: info@jubileelife.com

Step 5:

Your health & occupation meeting underwriting criteria, the Policy would be renewed and about a week later the Renewal Acknowledgement Letter, Final Receipt and Policy’s Unit Report (for Unit-Linked policies only) would be sent to you through courier

Note:

  • Kindly ensure that the DHO form is signed by you as per signature affixed by you on your Policy’s original Proposal Form.
  • Kindly note that we can only renew Policies where not more than 3 years annualized premiums are due. If more than one year’s annualized premium is due then kindly complete and submit a Reinstatement Form (RF) (besides DHO and Reinstatement Fee).
  • Your interests are best served if you pay your Policy’s renewal premium by the Due Date.

How can I assign or transfer policies?

You may assign / transfer your Policy in favor of another person or an organization to secure the repayment of a loan (by pledging the Policy’s Sum Assured) or as collateral (by pledging the Policy’s Cash Value) or for any purpose that you may consider necessary.
To Assign / Transfer the Policy you need to complete and submit the following:

  • Original Policy Documents (Please always keep your Policy documents very securely)
  • Original Policy Documents (Please always keep your Policy documents very securely)
  • Endorsement for Assignment (EAF) Form
  • Endorsement Request Form (ERF) or your Letter requesting for Assignment / Transfer of the Policy.
  • Attested Copy of Computerized National Identity Card of both the Assignor (you) and the Assignee (person to whom Policy is being transferred).
  • If the Assignee is an Organization / Corporate entity kindly also provide an attested copy of the agreement on which the Assignment is based.

Once a Policy is assigned your rights (to the extent of the terms of assignment agreed) as policy-owner and that of your Beneficiary / Guardian under the Policy stand revoked till such time as the Policy is Re-assigned back to you.
For complete understanding of the regulations that govern Assignments or Transfer of Policies in life insurance, kindly refer to Part X (Sections 71, 72 & 73) of the Insurance Ordinance (XXXIX) 2000.

Note

  • Kindly ensure that all documents and forms are signed by you as per signature affixed by you on your Policy’s original Proposal Form. Furthermore the Assignee’s signature must match the signature affixed by such person on Computerized National Identity Card.
  • Kindly get attested copies of documents (where required) by a Gazetted Government Official or a senior officer of our Company (Assistant Branch Manager or above). Original copies of documents may be called for inspection.
  • The Original documents & forms (hard copy) properly completed, signed and witnessed must be sent to:Customer Experience Department- Head Office
    Jubilee Life Insurance Company Limited,
    74/1-A, Lalazar, M.T. Khan Road,
    Karachi – 74000, Pakistan,
    Telephone: (021 ) 35205095
    Fax: 021-35610959
    Email: info@jubileelife.com
  • Upon receipt of proper documents the Assignment / Transfer affected by you would be endorsed in your Policy Record and acknowledged vide letter sent to you through courier.