About E-TAKAFUL Mart
Less than 10 million of Pakistan’s 220 million people have any type of insurance coverage, making it one of the countries in the area with the lowest insurance penetration rates. The vast majority of people view insurance as an investment product rather than a means of protection against financial loss. This is mainly because a lot of clients choose life insurance over other risk-based protection products like health insurance, house insurance, and other similar ones.
Every step of the process, including filing claims, is the same as in conventional insurance organisations. The difference is in the agreement’s essence, not in the procedures
GENERAL INSURANCE
According to the dictionary, insurance is an agreement whereby a business or the government agrees to guarantee compensation for a specific loss, damage, illness, or death in exchange for payment of a specific premium. It falls into the broad categories of life insurance and non-life insurance in general. Life insurance is the commitment to pay a certain, predetermined sum to the insured’s dependents or designated beneficiaries following the insured’s passing. While non-life insurance, which falls under categories like motor, fire and property, and marine insurance, to name a few, covers the harm as stipulated in the insurance contract.