Free Insurance Coverage

Your Bank now provides you FREE Accidental Death and Permanent Disability Coverage of upto to Rs.2,500,000/- in collaboration with UBL Insurers.

All existing and new UBL PKR and Foreign currency Current Account Holders (including Basic Banking Accounts-BBA) are automatically eligible for this scheme from December 1, 2008. All eligible account holders can also visit their branch for an official policy certificate from UBL Insurers.

This scheme is testament of our continuing commitment towards our customers and is aligned with our tradition of providing innovative and unmatched services to our account holders.

For more details, please call us at 111-825-888 or visit your branch manager for details.

Product Features

Your Insurance limit varies according to your closing balance at month end and will be determined as follows:

Benefits Table

Closing Balance at Month end (PKR)	Insurance Limit (PKR)
1 - 10,000	100,000
10,001 – 100,000	250,000
100,001 – 500,000	500,000
500,001 – 1,000,000	1,250,000
1,000,001 and above	2,500,000

Other additional benefits:

Double Indemnity: If the account holder dies in any road, sea or air accident together with his/her spouse then the amount payable will be 1.5 times the sum insured.
Emergency Medical Transportation to move the insured who has a critical medical condition due to an accident, to the nearest hospital where appropriate care and facilities are available. (The actual amount of Emergency Medical Transportation OR Rs. 10,000/- whichever is less).
Local Burial or Repatriation: In the event of accidental death, expenses incurred for repatriation and transportation of the mortal remains of the insured person from the place of death to home or preparation and local burial of the mortal remains of the insured person. (The actual amount of local burial / repatriation expenses OR Rs. 10,000/- whichever is less).

Terms & Conditions

All existing and new UBL PKR and Foreign currency Current Account Holders (including Basic Banking Accounts-BBA) are automatically eligible for this scheme from December 1, 2008. Age 65 & above, dormant (Inactive for 12 months) and zero balance accounts are excluded from this scheme.
Customers having more than one account with the bank shall be offered single insurance coverage.
The policy shall only cover the account holder. Spouse or any other family member will not be eligible to receive insurance cover under this scheme.
The policy is only for Permanent disability and Permanent partial disability; no benefits will be given in case of temporary disability.
In case a customer gets compensation for permanent disability and he eventually dies, the customer shall not be entitled for multiple claims.
The policy is nontransferable and non-saleable.
Closure of the account, where the reason is other than the death of the customer, will result in automatic cancellation of the policy.
Information relating to the next of kin in the account opening form shall be construed as beneficiary information. If you would like to nominate another person as the next of kin, kindly visit your branch for details.
Policy coverage shall come into effect immediately at the time of account opening by the customer.
In case of joint accounts, only the primary account holder will be offered insurance coverage
Only sole proprietorships accounts are eligible for coverage; corporate accounts and partnerships are excluded from this scheme.
Policy renewal shall be on a monthly basis, based on the stipulated eligibility criteria.
Closing balance of the previous month shall be considered at the time of assessing the claim of eligible account holder

Coverage Matrix

S. No.	Injuries resulting:	Percentage of the limit specified in the Benefit Table
1	Death	100%
2	Loss of two or more limbs by amputation at or above wrist or ankle	100%
3	Total and irrecoverable loss of all sight in both eyes	100%
4	Total and irrecoverable loss of all sight in one eye and loss of one limb by amputation at or above wrist or ankle	100%
5	Permanent Loss of Speech	100%
6	Total and incurable Paralysis	100%
7	Total and Incurable Insanity	100%
8	Loss of one limb by amputation at or above wrist or ankle	50%
9	Total and Irrecoverable loss of all sight in one eye	50%
10	Loss of thumb and index finger of either hand by amputation at or above the metacarpophalangeal joint.	50%
11	Loss of one finger or one big toe	5%

Exclusions

No benefit will be payable under this Scheme if the Death or Disability results directly, wholly or partly as a result of or related to:

Suicide
Enmity or personal, family or tribal feud or animosity of any kind
Pregnancy, miscarriage, childbirth or any non-malignant disease occurring in or in connection with the female reproductive organs
Self-inflicted injury, intoxication, insanity, fighting or unlawful / criminal act
Flying other than as passenger in a certified commercial aircraft
War, civil war or rebellion, invasion, act of foreign enemy, hostilities (whether war is declared or not) and civil commotion
Service on duty with any armed , navy, air force or para-military forces
Hazardous sports such as motorcycling, hunting, steeple chasing, mountaineering, racing of any kind, winter sports and diving, parachuting, hand gliding, boxing, wrestling, underwater activities requiring breathing apparatus
Direct or indirect result of Human Immune Deficiency Virus (HIV)
Alcohol, narcotic / drug unless taken as prescribed by a qualified registered medical practitioner
Deliberate self-exposure to unnecessary danger except in the attempt to save human life
Disease or sickness
Disappearance except in the event of total loss by shipwreck of the ship or air crash of the aircraft
Exceeding 65 years of age
Terrorism and sabotage
Accidental death/disability reported after 90 days of the occurrence of accident.

For further details, please visit your nearest UBL Branch or call 111-825-888