Who is the owner of EFU company?
Taher G. Sachak (1994–)EFU Group / CEO
How can I check my EFU policy status?
All you have to do is type “EFU LIFE” on your mobile phone and send to 9898. You can also message us directly on the following short codes. You can access your policy details anytime from anywhere directly by typing the short codes given below followed by your policy number.
What is the full form of EFU?
EFU Group, originally Eastern Federal Union Insurance Company Limited, (ایسٹرن فیڈرل یونین انشورنس کمپنی لمیٹڈ) is a Pakistan based insurance company. It was the first insurance company in India founded in (1932) owned by the Muslims based in Calcutta.
How do I claim my car insurance from EFU?
You can simply reach us at (021) 111-338-111 (111-EFU-111) or write an e-mail at [email protected] to file your claim. Once the claim is intimated our agent will ask for required set of documents mentioned below.
Is EFU private or Government?
private sector
In 1990, the Government of Pakistan reopened the life insurance business to the private sector organisations and EFU Life Assurance Ltd started operations in November 1992 as the first private sector life insurance company.
How old is EFU?
1932. In 1932, Mr. Ghulam Mohammad, a far sighted man, established Eastern Federal Union Insurance Company (EFU) with financial assistance from the Aga Khan III and the Nawab of Bhopal.
How is cash value of EFU calculated?
You can determine the cash value of your policy at any time by simply multiplying the number of units allocated in your policy to the Bid Price of the fund your policy is linked to. Mathematically, Cash Value = Number of units x Bid Price of the Fund.
Is EFU Life insurance halal?
Worried about how to make sure you’re protected against unforeseen personal or business circumstances but also want to make sure your insurance is halal? Look no further. Underwritten by EFU Life, our Takaful plans are completely Shariah complaint.
How many branches of EFU are there?
150 branches
The Company has a growing branch network of over 150 branches through out the country.
How do I surrender my EFU policy?
In order to fully surrender your policy, the following documents would be required:
- Surrender Form, duly filled in and signed by the policy holder.
- Original Policy Documents.
- Zakat Declaration (if you wish to apply for Zakat Exemption)
What is sum assured in EFU?
Sum Assured: This is the guaranteed amount payable on death. The sum assured may be selected from a range depending on the age at entry.
What happens if I surrender my policy?
If a policyholder decides to terminate the policy before maturity, the amount which the insurance company will pay to the policyholder is known as surrender value. If the policyholder does a mid-term surrender, he would get a sum of what has been allocated towards savings and earnings on them.
Why is insurance not allowed in Islam?
But insurance, particularly life insurance, is prohibited by many Islamic scholars because insurance firms may invest the money in shares of firms that are in the business of alcohol, gambling or entertainment— this is not allowed by shariah or Islamic law.
How is cash value calculated in EFU?
Can Muslims take medical insurance?
Health insurance schemes have turned a noble service in to a business activity, hence under Islam it is not permitted, they said.
Can Muslims take term insurance?
Islam prohibits transactions where there is gharar – uncertainty. Whilst it can be argued that term life insurance policies have an element of uncertainty as none of us really know when we will die, modern insurance policies are less speculative than we like to think.
What is surrender period?
The surrender period is the amount of time an investor must wait until they can withdraw funds from an annuity without facing a penalty. Surrender periods can be many years long, and withdrawing money before the end of the surrender period can result in a surrender charge, which is essentially a deferred sales fee.
What is surrender charge period?
A “surrender charge” is a type of sales charge you must pay if you sell or withdraw money from a variable annuity during the “surrender period” – a set period of time that typically lasts six to eight years after you purchase the annuity. Surrender charges will reduce the value and the return of your investment.
Jahangir Siddiqui & Co.
Eastern Federal Union Insurance Company Limited
EFU Group/Parent organizations
Is EFU private or government?
In 1990, the Government of Pakistan reopened the life insurance business to the private sector organisations and EFU Life Assurance Ltd started operations in November 1992 as the first private sector life insurance company.
What is EFU job?
Working at EFU Life, provides you with the right support and environment you need to achieve extraordinary results. We nurture and develop our people to be good human beings and firmly believe that exceptional results should be based upon uncompromising integrity, ethical behavior and honesty.