KARACHI: In a quest to develop a customer-centric product bouquet and simultaneously play a key role in expanding the insurance footprint – Pan Pakistan – Habib Bank Limited (HBL) and EFU Life Assurance have joined hands to launch Sahara small-ticket takaful plans for the masses. HBL Branch Banking Head Aamir Irshad said identifying and catering to the needs of the masses should always be the primary objective of all institutions. These plans provide coverage for hospital cash, including ICU, spouse cover and income benefit, in addition to the regular death coverage. HBL, being the leader in bancassurance with a market share of 46% in 2017, would continue to work towards innovative and segment-sensitive products in future, he said. EFU Life Managing Director and Chief Executive Officer Taher G Sachak said, “The penetration of life insurance is still too low, which is 0.56% of total GDP.”
Published in The Express Tribune, August 3rd, 2018.