Khushhali Microfinance Bank Ltd. signed bancassurance deals with Adamjee Life Assurance Co. Ltd. and Jubilee Life Insurance Co. Ltd., the Pakistan Observer reported April 2.
Under the deal, the bank will offer Adamjee Life Assurance's premium investment-linked assurance plans to its customers. Clients can pay interest on a monthly, quarterly, half-yearly or yearly basis, with premiums of up to 36,000 Pakistani rupees.
Moreover, the bank and Jubilee Life Insurance have enhanced a scheme in which the clients can receive hospitalization coverage of up to 40,000 rupees on a premium of 750 rupees. The two firms also agreed to set up relevant support channels to improve operations through the bank's branches.
As of April 3, US$1 was equivalent to 104.84 Pakistani rupees.