Jubilee Life Insurance Company Limited (JLI), the country’s largest private sector insurer, has joined hands with United Bank Limited (UBL), one of Pakistan’s leading financial institutions, to introduce a new range of traditional endowment insurance products. The initiative marks a significant step toward expanding customer access to financial security solutions that combine protection with long-term value creation.
The partnership was formally announced at a signing ceremony where executives from both organizations outlined the strategic importance of the collaboration. The new product line has been designed to offer customers financial stability while ensuring liquidity options when needed. By leveraging UBL’s extensive branch network and Jubilee Life’s expertise in insurance, the partnership seeks to make these solutions widely accessible to a broad segment of the population.
According to details shared, the newly launched endowment products carry several unique features. Customers will benefit from an early break-even structure, which allows them to recover value sooner in their policy tenure. The offering also guarantees maturity benefits, a fixed surrender benefit, and a reversionary bonus in addition to the sum assured in case of death. Furthermore, policyholders will have access to policy and automatic premium loan options, enabling them to meet urgent financial needs without compromising long-term protection.
Javed Ahmed, Managing Director and CEO of Jubilee Life Insurance, emphasized that the initiative reflects the company’s ongoing commitment to innovation in financial protection. He noted that the collaboration with UBL creates an opportunity to bring advanced insurance products to a wider audience. “This partnership highlights our continued commitment to innovation in financial protection. With UBL as a strong partner, we aim to provide customers with products that safeguard their future while offering long-term financial growth,” Ahmed said.
Abdul Aleem Qureshi, Group Executive – Branch Banking at UBL, echoed these sentiments, highlighting UBL’s focus on delivering value through innovation. “UBL has always been at the forefront of delivering highest value through its innovative products and solutions. This collaboration brings yet another milestone in providing holistic financial well-being to our valued customers. Through this partnership, we underscore our joint resolve to driving financial inclusion and offering unique protection and savings tools that create meaningful impact,” Qureshi stated.
The joint product launch is being positioned as a game-changer for the Pakistani financial ecosystem, particularly at a time when households are seeking secure ways to balance savings with risk coverage. The initiative also underscores the growing role of bancassurance in Pakistan, where banks and insurers are increasingly collaborating to bring integrated financial solutions directly to consumers.
Industry observers note that partnerships like this could play an important role in expanding insurance penetration in the country, which remains relatively low compared to regional peers. By combining the trust and reach of UBL with Jubilee Life’s insurance expertise, the two institutions are aiming to set a new benchmark for customer-centric financial offerings.
This collaboration demonstrates the evolving landscape of Pakistan’s financial services sector, where innovation, collaboration, and customer empowerment are becoming the defining features of growth. For customers, the new endowment products offer not only financial protection but also a path toward long-term savings and resilience against unforeseen risks.
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