Alfa Transaction InsuranceAlfa Transaction Insurance

Alfa Transaction Insurance

Alfa Transaction Insurance: For Secure and Confident Banking Transactions

At Bank Alfalah, we understand the importance of security when it comes to your financial transactions. With our multiple coverage options, you can be confident that you are secure against fraud ensuring financial protection. Choose Bank Alfalah and enjoy the security you deserve with Alfa Transaction Insurance by EFU!

Alfa Transaction Insurance by EFU

How to Apply for Alfa Transaction Insurance by EFU?

  • Login to Alfa
  • Tap on Insurance
  • Select Alfa Transaction Insurance
  • Select your desired Premium & Agree to the Basic Fact Sheet
  • Confirm your consent by pressing 1 over recorded/IVR call
  • Check your details in the Policy Briefcase


Variant Conventional
Product Description Alfa Transaction Insurance by EFU provides coverage in case of loss of cash from the account/card of the participant due to fraudulent/unauthorized transaction into the accounts.

This plan has a built-in life cover benefit as well which will provide complete financial security by paying a defined amount as per the selected option to the family in case of a customer’s death due to any cause.

Premium Term Annual
Coverage Term One Year
Policy Currency PKR


Application Guaranteed Issuance
Eligibility Age
  • Enrollment Age: 18 years to 64 years*
  • Coverage Age: 18 years to 65 years*

*Only applicable on Term Life

Free Look Period 15 days


Benefit Structure
Category Fraudulent Transactions Benefit Term Life Benefit
Option 1 Up to  50,000 50,000
Option 2 Up to  100,000 100,000
Option 3 Up to  150,000 150,000
All amounts are in PKR
Premium  Structure
Category Annual Premium
Option 1 530
Option 2 850
Option 3 1,250
All amounts are in PKR

The premiums are inclusive of all applicable taxes, bank commission, duties etc. Any change in the tax structure or commission will affect the premium accordingly.


  • Any kinds of errors in Transactions Recording System; 
  • Debiting of customer’s account by amounts in excess of or less than the actual transaction amount; 
  • Debiting the account by an amount in excess of the allocated card limit allocated by the bank/ financial institution/ account balance. 
  • No cover for any kind of cyber fraud/ liability/ crime related and similar losses. 
  • No cover given for losses which were already known to the Insured before the issuance date of this Policy; 
  • No coverage for spoofing where customer innocently or knowingly provide confidential bank information; 
  • No cover for any mysterious transaction whose cause of loss cannot be ascertained and determined. 
  • Any loss not discovered and intimated during the policy period. 
  • Any kind of fraud committed by the customer himself/ herself whether alone or in collusion with anyone.
  • Any loss resulting directly or indirectly by customer’s sharing the personal information including but not limited to OTP (One-time password), personal account and/ or card details etc. consciously or unconsciously or while under any threat or duress. 
  • War, SRCC, terrorism and political risk exclusion, nuclear risks exclusion, communication / infectious disease, Sanction Limitation Exclusion and Money Laundering exclusion.
  • Suicide, intentional self-inflicted injury, Murder, assault, assassination, injury sustained through firearm injury, participation in any criminal activity or violation of law.
  • Coverage is on incident of fraud occurred and reported within Pakistan and no international incident will be part of the claim.

EFU is the product underwriter and BAFL is the distributor of the product.

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