Insurance

Income Protection Plan

Introduction:

Life is precious and beautiful.
However, it is full of uncertainties and unexpected events. Accidents can unfortunately happen anytime, anywhere and shatter a steady and comfortable family life.
The family breadwinner’s loss of life, or even disability, resulting from an unforeseen accident, can have serious financial consequences and suddenly derail all of life’s plans. To mitigate the devastating effects of such rare – but unfortunately possible – life events, JazzCash presents* Income Protection Plan.

Product Features:

  • Financial Income Protection: Monthly Income of PKR 50,000 should the Insured Person die or become permanently disabled due to an accident**. Income Protection Plan helps address a family’s immediate financial challenges in the event of such a tragic life event.
  • Scope of Cover: 24-hour Worldwide
  • Benefit Policy: Payable in addition to any other insurance policy in place
  • Paperless Enrolment Process: Paperless enrolment process allows enrolment in a matter of few minutes. No medical examinations are required for enrolment.


* This policy is underwritten by Chubb Insurance Pakistan Limited.

** This Policy does not cover natural death.

JazzCash in partnership with Chubb Insurance Pakistan Limited, brings JazzCash Income Protection Plan providing financial coverage of PKR 50,000 per month for two (2) years in case of your Accidental Death &/or Accident Permanent Total Disability.

The following grid provides the insurance coverage amounts and premium payments:

OneTime (Annual) Charges (Rs.) 1,500
Benefit – Monthly Income Stream for 2 years (Rs.) 50,000
    • Inclusive of Terrorism
    • No Medical Examination required to enrol
    • Pays in addition to any other Policy you might have
    • 24 hour Worldwide cover
    • Paperless enrolment

A Simple Signup Process:

  • JazzCash Mobile Account customers can subscribe to JazzCash Income Protection Plan by simply dialing *786*8*3*1*1*2#
  • Customers who do not have a JazzCash Mobile Account can dial *786# from their biometrically verified Jazz SIM to open their JazzCash Account. Once the Mobile Account is registered, they can subscribe to JazzCash Income Protection Plan by dialing *786*8*3*1*1*2#
  • JazzCash Mobile Account customers can also subscribe to JazzCash Income Protection Plan by simply calling 051 8700315 from Jazz mobile phone or by calling toll free number 0800 54321 or (021) 111 789 789 or email: pakistan@chubb.com

Terms and Conditions

  • Duration of the insurance is for 1 year, as per premium payment from the date of enrolment
  • Enrolment Age Limit: 18—70 years
  • A Policyholder shall not be covered under more than one Income Protection Plan offered by Chubb Insurance. In the event that a Policyholder is covered under more than one such Plan, Chubb will consider that person to be insured under the Plan first issued. Chubb will refund any duplicated insurance premium payment which may have been made by or on behalf of the Policyholder.
  • This is not a life policy and the premiums will not accumulate. The policy does not have any maturity and the benefit will only be paid if accidental death or accidental disability occurs during the coverage period.

Exclusions

Major Exclusions are:

  • Natural Death
  • Death or Disability due to pre-existing disease.
  • Pregnancy or Childbirth
  • Suicide
  • War
  • Military Service
  • Mental or Nervous Disorder
  • Drug Addiction and Alcoholism

Important Information

Income Protection Plan is underwritten by Chubb Insurance Pakistan Limited. Jazz Cash and Mobilink Microfinance Bank’ are distributors of Income Protection Plan and Chubb Insurance Pakistan Limited is responsible for handling and paying all the claims. For claims and to request the hardcopy of policy document, please call Chubb Insurance Pakistan Limited at nationwide toll free number 0800 54321 or UAN 021-111-789-789 or email: Pakistan@chubb.com. Chubb Insurance Pakistan Limited is located at 6th Floor, NIC Building Abbasi Shaheed Road off Shahra-e-Faisal, Karachi.

JazzCash in partnership with Chubb Insurance Pakistan Limited, brings JazzCash Income Protection Plan providing financial coverage of PKR 50,000 per month for two (2) years in case of your Accidental Death &/or Accident Permanent Total Disability.

The following grid provides the insurance coverage amounts and premium payments:

Monthly Charges (Rs.) 124
Benefit – Monthly Income Stream for 2 years (Rs.) 50,000
    • Inclusive of Terrorism
    • No Medical Examination required to enroll
    • Pays in addition to any other Policy you might have
    • 24 hour Worldwide cover
    • Paperless enrolment

Simple Sign up Process

  • JazzCash Mobile Account customers can subscribe to JazzCash Income Protection Plan by simply dialing *786*8*3*1*1*1#
  • Customers who do not have a JazzCash Mobile Account can dial *786# from their biometrically verified Jazz SIM to open their JazzCash Account. Once the Mobile Account is registered, they can subscribe to JazzCash Income Protection Plan by dialing *786*8*3*1*1*1#
  • JazzCash Mobile Account customers can also subscribe to JazzCash Income Protection Plan by simply calling 051 8700315 from Jazz mobile phone or by calling toll free number 0800 54321 or (021) 111 789 789 or email: pakistan@chubb.com

Terms and Conditions

  • Duration of the insurance is for 1 month as per premium payment from the date of enrolment
  • Premium will be deducted automatically every month from Insured Person’s JazzCash Account and Policy will be renewed automatically on monthly basis unless:
    • Auto monthly deduction is cancelled by Policyholder by dialing *786*8*3*2#
    • Insufficient balance in Policyholders’ JazzCash account
  • No refund of Premium will be payable to the Policyholder if Policy is cancelled, terminated, expired, or if the Policyholder withdraw from the cover provided by this Policy. There will not be any accumulation of premiums
  • Enrolment Age Limit: 18—70 years
  • A Policyholder shall not be covered under more than one Income Protection Plan offered by Chubb Insurance. In the event that a Policyholder is covered under more than one such Plan, Chubb will consider that person to be insured under the Plan first issued. Chubb will refund any duplicated insurance premium payment which may have been made by or on behalf of the Policyholder.
  • This is not a life policy and the premiums will not accumulate. The policy does not have any maturity and the benefit will only be paid if accidental death or accidental disability occurs during the coverage period.

Exclusions

Major Exclusions are:

  • Natural Death
  • Death or Disability due to pre-existing disease.
  • Pregnancy or Childbirth
  • Suicide
  • War
  • Military Service
  • Mental or Nervous Disorder
  • Drug Addiction and Alcoholism

Important Information

Income Protection Plan is underwritten by Chubb Insurance Pakistan Limited. Jazz Cash and Mobilink Microfinance Bank’ are distributors of Income Protection Plan and Chubb Insurance Pakistan Limited is responsible for handling and paying all the claims. For claims and to request the hardcopy of policy document, please call Chubb Insurance Pakistan Limited at nationwide toll free number 0800 54321 or UAN 021-111-789-789 or email: Pakistan@chubb.com. Chubb Insurance Pakistan Limited is located at 6th Floor, NIC Building Abbasi Shaheed Road off Shahra-e-Faisal, Karachi.

If I pay one (1) month premium, how long will I be covered?

You will be covered for 1 month only.

How can I renew my policy on monthly basis?

Once you have activated your monthly policy for the first time by authorizing JazzCash to debit your account, your policy will be renewed every month automatically as soon as your JazzCash account is debited successfully for PKR 124.

How will I know that my monthly policy is renewed?

You will receive an SMS from JazzCash confirming payment of PKR 124 for the renewal of Income Protection Plan monthly policy.

What will happen to my monthly policy if I don’t have enough balance to pay monthly premium?

You will be reminded via SMS for payment of this policy. Your Policy will be cancelled automatically upon unsuccessful debit of your JazzCash account for monthly renewal premium.

Does Income Protection Plan provide cover on Natural Death also?

Income Protection Plan provides 24 hour worldwide cover for Accidental Loss of Life or Accidental Permanent Disability. Loss of Life events like sniper firing, armed burglary, murder, drowning, falling from stairs are all covered. Natural Death due to disease or illness is not covered.

Claim Process

  • For claims, please call Chubb Insurance Pakistan Limited at nationwide toll free number 0800 54321 or UAN 021-111-789-789 or email: Pakistan@chubb.com
  • Or call our JazzCash helpline number 4444. Our representative will guide through the claim process.

Documents Required for Claim:

  • Claim Form
  • Copy of Policyholder’s CNIC
  • Copy of Beneficiary’s CNIC (if different)
  • Death Certificate from Union Council (in case of Accidental death claim)
  • Evidence of Injury (in case of Permanent Total Disability claim)
  • Copy of Hospital Record and Details of treatment provided (in case of Permanent Total Disability claim)
  • Copy of FIR (in case of police involvement)
  • Copy of Succession Certificate from the Honorable Court which has jurisdiction to entertain the succession application of the Policyholder (in case of Accidental death claim)

Claims are settled within seven (7) business days, after completed documents are received.

Cancellation Process

  • Customers paying monthly charges can cancel anytime by dialing *786*8*3*2# or by calling 4444 from their mobile phone to stop future collections of charges. Refund of paid instalments is not applicable
  • Customers who have paid annual subscription charges can cancel anytime by dialing *786*8*3*2# or by calling 4444 from their mobile phone within fourteen (14) days to cancel annual policy and charges will be refunded immediately. If the policy is cancelled after 14 days then the charges will not be refunded

What are the major exclusions in this policy?

Major exclusions include Natural death, death or disability due to pre-existing disease, Pregnancy or childbirth, suicide, war, military service, mental or nervous disorder, drug addiction & alcoholism.

For detailed policy document click here