National Bank of Pakistan (NBP) and Jubilee Life Insurance have teamed up to launch two distinct financial protection products, marking another step forward in making quality healthcare and long-term savings solutions more accessible across Pakistan. This partnership brings together one of the country’s leading banks and its top private sector insurer to roll out the Jubilee Sehat Shifa Takaful, a fully Shariah-compliant health insurance plan, alongside the Jubilee Aitebaar Plan, a conventional savings and insurance product.
The official signing ceremony recently took place in Karachi, attended by prominent executives from both organizations. Representing NBP was Faisal Ahmed Topra, Group Chief (A) for Retail Banking Group, while Jubilee Life was represented by Sohail Fakhar, Group Head Corporate & Bancassurance. Their remarks during the event highlighted the shared objective of broadening financial inclusion and delivering meaningful risk protection to a wider segment of Pakistan’s population.
The Jubilee Sehat Shifa Takaful plan stands out for its comprehensive healthcare features, offering customers around-the-clock cashless hospitalization benefits throughout Pakistan. The coverage notably extends to pre-existing conditions, which is often a critical concern for many families seeking reliable medical insurance. Designed to align fully with Islamic finance principles, this Takaful product ensures customers can secure their health needs in a Shariah-compliant manner, addressing a growing demand for faith-based financial services in the country.
Meanwhile, the Jubilee Aitebaar Plan targets individuals looking for structured long-term savings combined with insurance protection. Offered through NBP’s extensive branch network, the plan provides guaranteed returns along with annual bonuses, giving customers a dependable way to build wealth over time while ensuring financial security for their loved ones.
Speaking at the event, Faisal Ahmed Topra from NBP emphasized the bank’s role in supporting economic resilience and household security. “Together with Jubilee Life, we are proud to offer easy, credible insurance options that support financial inclusion and long-term well-being for all,” he noted. His comments reflected NBP’s broader strategy of integrating diversified financial solutions into its portfolio, catering to both conventional and Islamic segments.
Echoing these sentiments, Sohail Fakhar of Jubilee Life highlighted how the collaboration advances their mission to deliver customer-centric, values-driven financial products. “This partnership extends our mission of providing meaningful, values-based financial solutions to more Pakistanis,” he said, pointing to the insurer’s commitment to innovative offerings that resonate with the needs and preferences of a diverse customer base.
Analysts see such partnerships as pivotal for strengthening Pakistan’s financial ecosystem. By combining NBP’s vast branch network and longstanding customer relationships with Jubilee Life’s expertise in insurance, these new products are well positioned to reach underserved communities, promote disciplined savings, and offer critical health coverage in times of need.
With rising awareness about the importance of financial protection, the move is expected to drive higher participation in both Takaful and conventional insurance segments. As the market continues to evolve, collaborations like this one are likely to play an essential role in deepening trust, expanding choice, and ultimately securing the financial well-being of millions across Pakistan.