JazzCash Beema Service Pays Out Its First Insurance Claim
Islamabad – 1st June, 2016: JazzCash recently partnered with Adamjee Insurance to introduce a free of cost and convenient life and accidental death insurance offering for its mobile account users.
In this regard, JazzCash Beema Service has recently paid out its first insurance claim of PKR 500,000 to its mobile account user in Shikarpur.To be eligible for theJazzCash Beema service, usersrequire a minimum monthly balance of PKR 2000 in their mobile account. “A majority of Pakistanis do not have access to any form of insurance, let alone life insurance which helps provide critical support for a person’s family after death. To ensure more people understand its benefits, we decided to team up with Adamjee Insurance to introduce a life insurance policy for our mobile account users, which is easy to sign-up for, and provides convenience and flexibility through our 24/7 helpline assistance,” said Aniqa Afzal Sandhu, Head of Digital &Mobile Financial Services – Mobilink.“Although any material possession cannot be a replacement for a loved one, money can provide for the immediate expenses which might otherwise cripple some families. We need to ensure more of our customers understand the benefits of a free of cost service, which only requires one to keep a certain amount in their mobile accounts every month,” She further added. To utilize this service, JazzCash users need to subscribe Beema at JazzCash’s helpline no. 4444 and maintain an average monthly balance of PKR 2,000 or more to avail the insurance cover from the following month. The amount of the insurance depends upon the monthly average balance maintained in their JazzCash Account; higher the balance, higher the insurance cover.Average monthly balance slabs and their resulting benefits are: an average of PKR 2,000 – 5,000 balance makes you eligible for PKR 50,000 Natural Death benefit and PKR 100,000 Accidental Death benefit; a PKR 5,001 – 10,000 balance makes you eligible for a PKR 100,000 Natural Death benefit and PKR 200,000 Accidental Death benefit; a PKR 10,001 – 25,000 balance makes you eligible for a PKR 250,000 Natural Death benefit and PKR 500,000 Accidental Death benefit (also includes a monthly benefit of PKR 2,500 for 5 years in case of accidental death); and a balance of over PKR 25,000 makes you eligible for a PKR 500,000 Natural Death benefit and PKR 1,000,000 Accidental Death benefit (also includes a monthly benefit of PKR 5,000 for 5 years in case of accidental death);
|Plan||Average Monthly Balance (PKR)||Natural Death Benefit (PKR)||Accidental Death Benefit|
|Lump Sum (PKR)||Monthly Benefit (PKR)|
|A||2,000 – 5,000||50,000||100,000||–|
|B||5,001 – 10,000||100,000||200,000||–|
|C||10,001 – 25,000||250,000||500,000||2,500 for 5 years|
|D||Above 25,000||500,000||1,000,000||5,000 for 5 years|
JazzCash has more than 60,000 retail outlets across Pakistan. In the recent past JazzCash has also been engaged in digitization of passport fee payments and also biometric-based disbursements to the flood victims in Punjab. In addition, it also facilitates direct collection of donations across Pakistan. JazzCash offers both Over-the-Counter (OTC) services and Mobile- account facilities for customers along with funds transfers, payment of utility bills, corporate disbursements and mass payment collections.