Omni Term Life Insurance
Jubilee Term Life introduces “UBL Omni Term Life Insurance” a unique life insurance cover through UBL Omni, designed for UBL Omni Account Holders & Walk-In Customers ensuring safety net for their families. This product can be purchased from a selected set of Omni Dukaans.
Applicable age to avail this product is 18 to 59 years. UBL Omni Term Life can be purchased at annual unit price of Rs. 350/- against which the premium payable to the beneficiary (blood relative) will be Rs. 100,000. Each unit is valid for a year from the day of subscription. A customer can purchase up to 5 units which means a premium payable to a beneficiary can be up to Rs. 500,000. This product has a waiting period of 30 days and customer is given a free look period of 7 days. There is no medical test required in order to purchase this product. Death and disability due to any reason are covered. Exclusions include suicide, self-inflicted injury, terminal/critical illness and pre-existing conditions.
How will the policy be issued?
It will be issued from Agent Dukaan to Omni Account Holders as well as Walk in Customers.
How many policies can be purchased on one CNIC?
Customer can get multiple policies, Maximum being 5 units.
Can the policy be cancelled?
Yes the policy can be cancelled. If cancelled within 7 days, then customer’s premium is refunded.
In case of cancellation how is the premium be refunded?
In case of Walk in Customer, Disbursal Code will be sent on Customer’s Mobile number which can be used to receive the money back from Omni agent. In case of Omni Account Holder, premium amount will be refunded into the customer’s account. Customer can call the Omni call center 111-825-777 for further queries.
How will I know that I am enrolled for life Insurance
Upon successful transaction completion, an SMS containing the policy number will be sent to you.
Is there any medical exam required to be insured under UBL Omni Term Life Insurance plan?
No medical examination or form filling is required to avail insurance cover.
What is meant by waiting period?
Waiting period implies that the benefit of the insurance plan will come into effect 30 days after subscriptionWaiting period implies that the benefit of the insurance plan will come into effect 30 days after subscription.
How do I change my beneficiary?
You cannot change your beneficiary.
What are the exclusions? Or Under what conditions claim will not be payable?
Claims will not be payable by Jubilee Life Insurance in case of the following:
Death due to suicide & Self Inflicted Injury
Terminal / critical illness
What is the claim process?
In the event of unfortunate death of the insured customer, please give intimation simply by calling Jubilee Life insurance on the number 111-111-554. Claim settlement will be done directly to the beneficiary upon completion of simple requirements; this is the responsibility of JLI.
Who will get the claim in the event of my death?
Beneficiary who can get the claim in the event of death can only be a blood relative or spouse who was nominated by the deceased at the time of purchase such as the following. Nominee must be at least 18 years of age.
Brother / Sister
Husband / Wife
Mother / Father
Son / Daughter