Are you searching for the best insurance company in Pakistan to plan your future? In a world of uncertainties, finding the best company for investment in Pakistan is quite complex. With so many companies claiming thousands of services, how do you know which one to choose? Well, we have done the hard work for you, and here are the top 10 insurance companies in Pakistan that can help you make an informed decision for your safe future.
Many people still need to discover the insurance landscape in Pakistan, which is a drawback for their future. To maintain our present, we forget about the future, which leads us towards debt and harsh situations. Insurance is the key to a safe and peaceful future ahead.
Do you know that 25% of the Pakistani population has some type of insurance? This is only 0.91% of the total population. The rate of knowledge and awareness about investment business in Pakistan is very low, and people are scared to secure their savings for the future. However, asset management companies are now building trust and making it easy for people to secure a future for themselves.
Why Should You Purchase Insurance in Pakistan?
Purchasing insurance in Pakistan is like building a safety castle around your life’s most valuable assets. We never know what will happen next in life, so if there is insurance backing up for you, sealing those uncertainties will become easy. It can give you financial support so you can keep yourself safe from asking money form others and looking for loans. From real estate investment opportunities to health, social, and medical insurance, there are wide opportunities to make your future better and safer. Other than this, it can help with sudden family deaths and accidents. And just like this, it can give you peace of mind in not knowing about what happens next.
Top 10 Pakistan Insurance Company List 2024
| Company | Website | Location |
| Jubilee Life Insurance | https://www.jubileelife.com/ | Karachi, Islamabad, Gujrat, Bahawalpur, Peshawar |
| State Life | https://www.statelife.com.pk/ | Rawalpindi |
| EFU Life Insurance | https://www.efulife.com/ | Karachi |
| Adamjee Insurance Company | https://www.adamjeeinsurance.com/ | Islamabad |
| Alfalah Insurance | http://www.alfalahinsurance.com/Alfalah-Home.html | Islamabad |
| Alpha Insurance Company | https://www.statelife.com.pk/en/productlist/alpha-insurance | Rawalpindi |
| Askari General Insurance | https://www.agico.com.pk/ | Rawalpindi |
| TPL Insurance | https://tplinsurance.com/ | Lahore |
| United Insurance Company | https://www.theunitedinsurance.com/ | Karachi, Lahore |
| Pak Qatar General Takaful | https://www.pakqatar.com.pk/ | Rawalpindi |
1. Jubilee Life Insurance
Well, starting with the best. Jubilee Life Insurance comes on the top pakistan insurance company list of 2024. They have been securing futures since 1995 and have a variety of secure plans for your future. They can help you with low insurance policies for many of the opprtunities stated by them. From providing e-health insurance to people, they are still struggling to create awareness about building a secure future. The head office for Jubilee Insurance is located in Karachi, while other than that, it has quite a few branches in Pakistan.
Types of Insurance They Have
- Family Takaful (this insurance is designed according to the Shariah law in Pakistan)
- Corporate Insurance
- Online Insurance
- Micro-Insurance (For underprivileged people)
- Bancassurance ( everything in one place, from banking to insurance and loan needs)
- Individual Life Insurance
Pros of Selecting Jubilee Life
- Free Travel Insurance for Seven Days.
- 10% Discount on Car Insurance
2. State Life
State Life Insurance is one of the best insurance companies in Pakistan. It has been serving since 1972, and millions of Pakistanis are connected to it today. From individual to group schemes, they have a variety of beneficial insurances which you can select from. From businesses to individuals, they have the best investment ideas in Pakistan. Every policy designed by State life safeguards every battle against critical situations.
Types of Insurance They Have
- Endowment Insurance Plan ( In case of sudden deaths, bonuses will be payable according to the policy)
- Whole Life Insurance (The insurance includes everything)
- Muhafiz Plus Insurance Plan
- Child Education Insurance
- Marriage Plan Insurance
- Health Insurance
Pros of Selecting State Life Insurance
- Payouts in case of deaths
- Financial security of family
- It will secure a child’s future by funding the education process
3. EFU Life Insurance
EFU Insurance is also among the top 10 insurance companies in Pakistan, and it is helping thousands of Pakistanis make their future reliable. It offers a diversified range of financial planning solutions to support families. EFU started creating awareness about the importance of insurance in Pakistan. Also, the company created the first chatbot feature on Facebook to facilitate people. In Things to consider before you move abroad can be EFU life insurance, as they can take other necessary funds for your family behind your back. They have an application that can be easily used to navigate policies and sign up for insurance services in no time.
Types of Insurance They Have
- Education Planning
- Critical Illness Product
- Unit-Linked Products
- Inflation Protection Benefit
- Pension plans (house financing and unexpected expenses)
Pros of Selecting EFU Life Insurance
- For a child’s higher education, EFU life insurance is a good option.
- Also, their pension plans are quite reliable
- Also, their insurance covers chronic and terminal illnesses.
4. Adamjee Insurance Company
Adamjee Insurance is most reputable among the list of insurance companies in Pakistan. Since 1960, the company has provided wide opportunities for insurance in Pakistan. It has a major fund share with most of the multinational companies in Pakistan as it provides health benefits to private sector employees. They have amazing medical insurance policies that can save you from the unexpectedly expensive cost of medication. Also, among other insurance companies in pakistan, the company has quite cost-effective plans.
Types of Insurance They Have
- Health Insurance (it includes medical, hospital, and surgical expenses, ICU charges, diagnostic, etc.)
- Travel Insurance (Accidental Death benefits and some of the travel inconvenience benefits like baggage loss or passport loss)
- Personal Insurance
- Accident Insurance
- Home Insurance (Fire or earthquake damage)
- Motor Insurance
- Agriculture Insurance
- Marine Insurance
Pros of Selecting Adamjee Insurance
- It offers a wide range of insurance plans with affordable charges
- It has strong ties with companies in Pakistan, which makes it more reliable
- Large funds back the company.
5. Alfalah Insurance
Alfalah Insurance is one of the best asset management companies in Pakistan. It was established in 2006 and has been successful in the insurance market since then. It has branches in major cities like Lahore, Karachi, and Islmabad. The company is a part of the Insurance Association of Pakistan, which is why people trust its insurance policies. Their social media marketing in Pakistan is quite strong, as it is a venture created by the giant Abu Dhabi Group. In 2012 federation of Pakistan Chamber of Commerce and Industry awarded the company for its excellence in insurance policies. Also, PACRA recently added the company to the AA category, which means it has top-notch financial and insurance services.
Types of Insurance They Have
- Health plan ( Basic hospitalization expenses along with surgery and OPD benefits)
- Property Insurance ( Any risk related to the property)
- Marine Cargo Insurance
- Energy Insurance
- Miscellaneous Insurance
- Motor Insurance
Pros of selecting Alfalah Insurance
- Wide range of affordable insurance plans
- Award-winning organization
- Accessible for customers all around pakistan as it has numerous branches.
- They have flexible insurance plans.
6. Alpha Insurance Company
Alpha is a prominent name among the best insurance companies in Pakistan. Established in 1951, it is renowned for its amazing insurance plans. People from all around Pakistan can opt for Alpha Insurance, as it has about 100 branches. State Life is its parent company and holds a sufficient amount of shares itself. The company offers a portal to sign in easily for insurance, which supports multiple online payment gateways in Pakistan. People have trust in this company as it has been supporting people for quite a time now. Some of their policies are quite expensive, but they can secure your whole future.
Types of Insurance They Have
- Marine and Aviation ( it covers marine cargo import and export)
- Motor Insurance ( Fire, Theft, snatching, or any damage to the vehicle)
- Miscellaneous (Machinery breakdown and various consequential loss insurance)
- Property Insurance
- Health Insurance
- Fire Insurance
Pros of selecting Alpha Insurance
- Affordable Insurance Plans
- Their motor insurance is quite beneficial as it covers various situations.
7. Askari General Insurance
Well, if you are wondering which company is best for investment in Pakistan, Askari General Insurance Company has it all. Founded in 1995, it has been a top-selected insurance company by the Security Exchange Commission of Pakistan. The company has quite a reputable status because it is listed on the Pakistan Stock Exchange. Also, it offers a variety of insurance plans for a secure future. They have an online bidding process by which you can easily acquire any particular insurance plan. Along with insurance, they have profitable online business ideas for students to help them grow a successful venture in Pakistan.
Types of Insurance They Have
- Aviation Insurance
- Health Insurance
- Bond Insurance
- Engineering Insurance Fire Insurance
- Motor Insurance
Pros of selecting Askari General Insurance
- Simplifies the process through an online insurance portal
- Backed by strong stakeholders
- Perfect for businesses
8. TPL Insurance
The list of top 10 insurance companies in Pakistan is complete with TPL. It was established in 2005, and since then, it has been assisting people with affordable insurance plans. They always maintain standards by introducing beneficial policies for people, which is why they are reliable and one of the best online insurance companies in Pakistan. They have 24-hour customer service and keep every customer’s information secure. They have integration from Pakistani tech startups to multinational businesses.
Types of Insurance They Have
- Liability Insurance
- Comprehensive Car Insurance
- Health Insurance ( group and micro)
- Property Insurance( Fire and allied perils, shielding businesses forms severe losses)
- Mobile Insurance
- Cyber Risk Insurance (crisis management in any business)
Pros of Selecting TPL Insurance
- It focuses on the Crisis management of businesses
- Cyber risk insurance can be beneficial in 2024
- 24-hour customer service
9. United Insurance Company
Well, if you ask that which company is best for investment in Pakistan, then here the name of United Insurance Company comes on the top, as they have quite an impact in the insurance sector of Pakistan. It was established in 1959, and since then it has succeeded in helping people and businesses with financial support. As many startups are struggling to succeed in Pakistan United Insurance has helped them in managing crisis management like no other. It has a strong network around Pakistan as it operates 100 branches all around. The company has a very reliable and secure insurance tracking system.
Types of Insurance They Have
- Travel Insurance ( Accident, loss of baggage or passport)
- Health Insurance ( Emergency dental care and medical expenses)
- Car Insurance
- Business Insurance
Pros of Selecting United Insurance Company
- Provides customized insurances
- Secure Insurance portal
- Offer student insurance plans
10. Pak Qatar General Takaful
Pak Qatar is another one of the best insurance companies in Pakistan. It covers takaful insurance in Pakistan. They have two options: general takaful, which is according to the Shariah complaint and provides some saving plans, and Family takaful, which includes educational and health finances. They have a mobile application upon which people can easily get details about every insurance policy. Qatar International Islamic Bank owns the company.
Types of Insurance They Have
- General Takaful ( health insurance, traveling, and miscellaneous finances)
- Family Takaful ( home insurance, fire breakdown, or any other severe accident to properly, educational needs)
Pros of Selecting Pak Qatar General Takaful
- Secure long-term financial goals.
- Children’s education
- Retirement plans
- It is safe in case of loss and damage of property, vehicle or any machine.
Tips for Choosing the Best Insurance Company in Pakistan
Since insurance is the thing we dont utilize on daily basis and before option for one of these insurance companies in Pakistan, you should know some right tips to follow:
1. Customer Care
Before opting for any insurance company in Pakistan, make sure its customer care is 24 hours working and very responsive. This is a crucial tip to consider because, in the case of insurance, you will need to contact them frequently, and if they have poor customer service, then it’s a red signal for you.
2. Location
I know that now insurance companies in Pakistan have online portals that can be accessed from anywhere, but in regard to financial security, the branch should be near you. If you face uncertainty in sudden circumstances, then it will be convenient for you to claim insurance as soon as possible.
3. Transparency
The insurance company should have transparent services there should be zero hidden charges upon claiming insurance.
4. Price Calculation
Make sure to ask for quotations from different insurance companies in Pakistan and select one that suits well with your finances well. Carefully calculate the whole budget and eliminate those which does not work well with your future goals.
Conclusion
These were some top and one of the most reliable insurance companies in Pakistan. All of them have numerous branches across Pakistan and right now are facilitating the finances of more than a thousand clients. Insurance is a complex thing to tackle, which is why it needs to be selected carefully by monitoring all odds and evens. Make sure to select a reputable insurance company that has been facilitating people for years. Insurance is very beneficial in building a secure future, so dont think about it twice. Just get quotations now.
Frequently Asked Questions
Q1. What are the top 5 insurance companies working in Pakistan?
State Life Insurance, Adamjee Insurance, EFU Life, Jubilee Life Insurance, and Alfalah Insurance are considered the top 5 insurance companies in Pakistan.
Q2. Which is the largest general insurance company in Pakistan?
Adamjee Insurance is the largest general insurance company in Pakistan, providing a broad range of insurance services across various sectors.
Q3. Which company is best for insurance?
State Life Insurance is widely regarded as the best life insurance company, while Adamjee Insurance leads in general insurance.
Q4. How many insurance companies are there in Pakistan?
As of recent data, around 40 insurance companies are operating in Pakistan, including Life and Health.
Q5. How many types of insurance are there in Pakistan?
There are primarily three types of insurance in Pakistan: life insurance, general insurance, and health insurance.
Q6. What is the role of insurance in Pakistan?
Insurance in Pakistan provides financial protection, mitigates risks, and supports individuals and businesses in managing uncertainties.
Q7. What is risk in insurance?
In insurance, risk refers to the likelihood of a potential loss or damage that is covered by the policy, such as an accident or natural disaster.
