Top 5 Best Insurance Companies in Pakistan 

What are insurance companies?

The concept of insurance is getting more popular day by day, especially in South Asia. In Pakistan, people are skeptical and in most cases unaware of insurance. It’s crucial to know what’s inside of insurance, especially in today’s fast-moving and unpredictable age.

Insurance is basically a method by which you transfer or mitigate your personal risk. When you take out insurance, you transfer responsibility for your loss to the insurers (under certain terms and conditions).

Companies mitigate risk by spreading it over a number of persons or firms. These people pay a premium (a set amount of money) that will be used to pay for your loss resulting from various circumstances such as fire, accident, illness or death.

Different insurance companies offer different types of insurance, depending on your needs and preferences. The main types of insurance include:

  • life insurance.
  • Title insurance.
  • Fire insurance.
  • Liability insurance.
  • Warranty insurance.
  • Social Security.

But, why should I get insurance?

Let’s get this straight: Insurance provides security in the long run.

As I mentioned earlier, life is unpredictable. You never know when you will need financial assistance. Instead of relying on relatives and loans, it is a good idea to take out insurance for yourself.

Some of the main benefits of insurance are:

It gives you financial protection, i.e. you don’t have to depend on external sources for money.

This will give you peace of mind and you won’t have to worry about the future.

It will allow you to mitigate the risks.

In Pakistan, there are many insurance companies that offer insurance on easy terms and conditions. Some of the major insurance companies have been discussed at length in this article.

Top 5 Best Insurance Companies in Pakistan 

1. Jubilee Life Insurance

Jubilee Life Insurance associates its brand with the word “happiness” and that too, for all the right reasons. So, Jubilee Life Insurance is known among the masses for its exceptional health policies with low premiums for insurance services and its easy terms and conditions.

Jubilee offers the following insurance policies to its clients:

  • Individual Life Insurance (helps you save money for your child’s needs including his/her education, medical care, and marriage).
  • Bancassurance (one-stop-shop for all your banking, insurance and financial requirements).
  • Microinsurance (an insurance policy specifically designed to meet the needs of disadvantaged people).
  • Corporate insurance (an insurance policy tailored to the corporate world)
  • Online insurance
  • Family Takaful (an insurance policy subject to the provisions of Islamic Sharia).

Contact: +92-21-35205095, +92-21-32120201

Website: Jubilee Life Insurance

2. EFU Life Insurance

EFU Life Insurance commenced operations in the year 1992 as the first private life insurance in Pakistan. It is known that EFU has the largest financial base in the private sector with a paid-up capital of about 1 billion. It is considered one of the best insurance companies in Pakistan.

EFU offers its customers a variety of products at the best value. The company also provides you with a mobile application known as EFU Life PlanIT. You can easily keep track of your records and information through this app. Also, EFU Life Insurance is the first life insurance company in Pakistan to be ISO certified.

Some of the major product offerings offered by EFU include:

  • Unity products
  • Critical disease products
  • Education planning product
  • Inflation protection feature
  • retirement plans

Contact: +92-21-111-338-111

Website: EFU Life Insurance

Learn about insurance companies in Pakistan.

3. Adamji Insurance Company

The next insurance company on our list is Adamjee Insurance Company. AICL commenced operations on 28th September 1960 and is currently the largest general insurance company in Pakistan.

AICL is an international name with a presence in other regions such as the United Arab Emirates.

The company deals with the following business categories:

  • Engineering insurance
  • Fire and property insurance
  • Health insurance
  • Marine insurance
  • Car insurance
  • travel insurance
  • Agriculture insurance
  • Various insurances
  • Financial lines insurance
  • Lines of liability insurance
  • Personal accident insurance

All insurance services offered by the company are IS0 9001 certified. Apart from this certification, the company has also attained local and international recognition in the form of awards and certificates.

Contact: +92-42-35772960-79

Website: Adamjee Insurance Company

4. Al Falah Insurance Company

One of the newest companies in town is Al Falah Insurance Company which is a project of the Abu Dhabi Group. The company operates in all major cities of Pakistan including Islamabad, Karachi, and Lahore.

The company deals in many types of insurance policies, including:

  • health insurance
  • Car insurance
  • Title insurance
  • Marine cargo insurance
  • Energy Insurance
  • Engineering insurance
  • Various insurances

The Pakistan Credit Rating Agency (PACRA) recently upgraded the company’s rating, assigning it an ‘AA’ rating. This category depicts a strong financial position and first-class services. So, if you are looking for an insurance policy for yourself, Al Falah Insurance Company should be on your list.

Contact: +92-42-111-234-222

Website: Al Falah Insurance

5. State Life Insurance Corporation of Pakistan

State Life Insurance Corporation of Pakistan is a government-owned body that offers a variety of insurance policies to its clients. It is one of the most famous insurance companies in Pakistan. Also, State Life tops the list when it comes to life insurance companies in Pakistan.

  • It not only offers individual policies but also deals with group plans.
  • Some of the individual plans offered by companies are:
  • Whole life guarantee.
  • Endowment guarantee.
  • Affirmation of Chadabad.
  • Expected stop guarantee.
  • On the other hand, other classes of insurance include:
  • Jeevan Sati Assurance
  • Ensure child protection
  • Wealth building plan
  • Supplementary covers
  • Health care plans
  • Interestingly enough, the State Bank website also provides you with a whole host of calculators that you can use to calculate insurance. The calculators available on the site are:
  • Whole life guarantee
  • Endowment guarantee
  • Jeevan Sati Assurance

Contact: +92-21-99202800-9

Website: State Life Insurance Corporation of Pakistan

So, these are some of the best insurance companies in Pakistan. Go through their details and choose the one that best suits your needs. Also, tell us why you think insurance is important to us. We’d love to hear from you. Learn about a home loan in Pakistan


None of the information published in this article should be construed as investment advice. We strongly advise our readers to always do their due diligence before investing in any project. It is the reader’s responsibility to know the laws regarding investments in their area.

Besides these companies, the government of Pakistan has also launched Sehat Card in SehatSahulat Program in Punjab, KPK, and Federal Lands. It will save around Rs 1,000,000. Annual health insurance for every family in Pakistan.

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