HBL Insurance & Bancassurance
Part of PakFinHub's HBL coverage — see the full bank overview.
HBL offers insurance through two separate channels, and mixing them up leads to confusion about who actually underwrites what. One is a set of credit-protection add-ons attached to HBL's own loans and cards. The other is HBL Bancassurance: a distribution partnership where HBL sells Jubilee-branded savings and protection policies that Jubilee itself underwrites. This page covers both, kept clearly apart.
HBL Insurance Scheme — Credit-Linked Protection
These are add-on protection plans tied to HBL's own consumer finance products: credit cards, personal loans, and similar facilities. They're not standalone policies you'd buy independently. Premiums are typically deducted automatically, either as a percentage of your outstanding balance or a flat monthly/annual charge.
| Plan | Charge |
|---|---|
| Credit Shelter | 0.50% of outstanding balance |
| Credit Shelter Plus | 0.073% of credit limit |
| Income Continuation — Plan A | Rs 399 per month |
| Income Continuation — Plan B | Rs 250 per month |
| Total Assurance — Plan A | Rs 300 per month |
| Total Assurance — Plan B | Rs 575 per month |
| Triple Health Cash Plan | Rs 175 – 970 per month (varies by plan) |
| HBL Wallet Plan | Rs 199 per month |
| HBL Family Protect — A | Rs 165 per month |
| HBL Family Protect — B | Rs 1,650 per year |
| HBL LifePlus — A | Rs 250 per month |
| HBL LifePlus — B | Rs 325 per month |
| HBL My Health Forever | Rs 3,000 per year |
| Credit Shield Plus | 0.79% of total outstanding balance |
Confirmed directly from HBL's official Schedule of Bank Charges (Exclusive of FED/ST), effective July 01, 2026 to December 31, 2026, Part I — HBL Insurance Scheme.
HBL Bancassurance — Jubilee-Partnered Plans
Launched in 2007, HBL Bancassurance was started in partnership with Jubilee Life Insurance to offer a range of savings and protection products distributed through HBL's own branch network. HBL is the distributor here, not the underwriter — the products themselves are owned and managed by Jubilee Life Insurance and Jubilee General Insurance.
Jubilee Hifazat Plan
Family takaful-style protection plan distributed through HBL.
Jubilee Amaan
Savings and protection plan; HBL acts as distributor, Jubilee Life owns the product.
Jubilee Tabeer
Life insurance plan offered through HBL's Bancassurance channel.
Jubilee Hawwa
Protection plan marketed specifically toward women customers.
Jubilee Shandur
Savings-linked life insurance distributed via HBL.
Jubilee Noor
Additional life protection plan in the Bancassurance lineup.
Jubilee Elite Plan
Exclusive plan for HBL Prestige clients — minimum annual premium of Rs 1.25 million.
Jubilee Bancatakaful (Afiyah, Istehkam, Vaqar)
Shariah-compliant takaful variants underwritten by Jubilee Life's Window Takaful Operations.
JGI Auto Insurance Plan
Motor insurance underwritten by Jubilee General Insurance.
Confirmed directly from HBL's official Bancassurance overview page (hbl.com/bancassurance) and HBL's Wealth & Bancassurance product pages (hbl.com/personal/wealth/bancassurance). This is the full list HBL's own site organizes under Bancassurance — always check the specific plan page for current premiums and terms, since these are Jubilee products with their own pricing schedules, not HBL's own SOBC.
Who Actually Underwrites What
This distinction matters for a claim, not just for browsing: the HBL Insurance Scheme plans in the first table are tied directly to your HBL credit facility and administered as part of that relationship. The HBL Bancassurance plans in the second section are Jubilee Life or Jubilee General policies — HBL sells and services the relationship, but the underwriting risk and the claims process sit with Jubilee. If you're comparing a plan against another insurer, this is the question to ask first: who's actually on the hook for the payout.
Frequently Asked Questions
If I file a Bancassurance claim, am I dealing with HBL or Jubilee?
Jubilee. HBL distributes and services the relationship, but Jubilee Life Insurance or Jubilee General Insurance underwrites the policy and handles the claim itself.
Are HBL Insurance Scheme premiums optional?
They're add-ons to a credit facility, not automatic — you opt in when applying for or holding the relevant HBL loan or card, and the premium is then deducted per the schedule above.
Is there a takaful (Shariah-compliant) option?
Yes — Jubilee Bancatakaful Afiyah, Istehkam, and Vaqar are underwritten by Jubilee Life's Window Takaful Operations and distributed through HBL.
Confirmed directly from HBL's official Bancassurance pages (hbl.com) and Schedule of Bank Charges.
Good For
- HBL cardholders or borrowers weighing a credit-protection add-on
- Customers exploring Jubilee-backed savings and life plans through their bank
- HBL Prestige clients looking at the Jubilee Elite Plan
- Understanding who underwrites a claim before signing up
Official Sources
Every figure on this page traces back to one of these primary sources — check them directly for the current, live version of anything time-sensitive.
- HBL Bancassurance — Official Overview — full current product list
- HBL Wealth — Bancassurance Product Pages — individual plan details
- State Bank of Pakistan — regulatory data and consumer protection guidance
- Securities and Exchange Commission of Pakistan — insurance sector oversight
How to Verify the Latest Information
Rates, fees, eligibility rules, and contact details change — sometimes without much notice. Before acting on anything time-sensitive from this page, cross-check it directly against the official HBL source links above, or call HBL PhoneBanking at 111-111-425 to confirm. If something here doesn't match what HBL currently states, treat HBL's own page as the authority and let us know so we can correct it.
Page last verified: August 24, 2026. PakFinHub is an independent publisher, not affiliated with or operated by HBL.
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