Presented To Mumtaz Ali Sonia & Zainab

Presented to Mumtaz Ali
By
Sonia & zainab
STATE LIFE INSURANCE
CORPORATION PAKISTAN
SLICP
SLICP
 Type Government Organization
 Industry Life insurance
 Founded 1973
 Headquaters Karachi , Pakistan
 Key people Shoaib mir memon (chairman)
 Products Life insurance , Pension , Annuities(saving acc)
 amount paid on regular interval .
 Total asset Rs 572 Billion (2015)
 Owner Government of Pakistan
 Number of Employees 5,500+ (2013)
 Website www.statelife.com.pk
Background
 Nationalized during March 1973
 Initially Life Insurance business of 32 Insurance Companies was merged
and placed under three Beema Units named
“A”, “B” and “C” Beema Units.
 However, later these Beema Units were merged.
 Effective November 1, 1973 the Management of the Life Insurance Business
entrusted to the State Life Insurance Corporation of Pakistan.
 The Principal Office based at Karachi .
 IT is responsible for corporate activities .
 Such as investment, real estate ( real or physical property), actuarial
(risk and premium) , overseas operations .
OBJECTIVES
 To provide more efficient service to the policyholders.
 To maximize the return to the policyholders by
Economizing on expenses increasing the yield on investment.
 To make life insurance a more effective means of mobilizing(preparing) national
savings.
INSURANCE POLICIES
Individual Life Plans
 Shad Abad Assurance
 Jeevan Saathi Assurance
 Children protection Assurance
 Whole Life Assurance
 Shehnai policy
 Committee policy
 Endowment Assurance
Whole life insurance
 Protection
 Saving
 Investment
 Economical premium (lowest fare)
 High bonuses
 Premium pay annually
 If Accidental death occur , benefit increase .
 30 age
Endowment Assurance
 Minimum Age: 10 years
 Maximum Age: 65 years
 supplementary covers
 Bonuses
 The plan serves the requirements of a family in various shapes by way of financial
help at
 retirement
 education
 provision of capital for business.
Shadabad plan
 On completion of term of policy,
 sum insured plus bonuses
 death during the policy term, the death benefit consists of double of sum insured
with accrued bonuses.
 Incase of death due to accident, the death benefit consists of four times the sum
insured plus bonuses.
 This plan for savings of endowment
 to protect loved ones in case they die.
Jeevan saathi
 two partners say husband and wife
 The plan contains extensive benefits
 On the death of the first life, the sum insured will be paid to the survivor
 the insurance protection of the second life will continue.
 On death of the second life, again the sum insured will be paid together with the
attaching bonuses. In this event the policy will terminate.
 If both the lives survive the term of the policy, the sum insured will be paid to
them jointly, only once, together with the attached bonuses
Children protection insurance
 sum insured and accrued bonuses become payable.
 If the policyholder dies , Rs 100/- per thousand sum insured per annum till the
completion of the policy term.
 Supplementary cover
 future financial needs of their children
Shehnai policy
 innovative life insurance product.
 It provides a solution for many problems
 parents who want to provide for their children's higher education, marriage
and other expenses.
 lump sum benefit becomes payable as the child attains the age of 25 years.
 6% per annum from third policy year onward.
 From the fourth policy build up of cash value and sum insured for the
year.
 The policy also participates in bonus is Rs 105 per thousand per annum.
Committee Policy
 Minimum Age : 20 years
 Maximum Age : 50 years
 Terms Available: 3 and 5 years only.
 short term savings and protection
 lump sum amount of money at a specified time or on death.
 Premium is a level amount payable quarterly.
 Basic Quarterly Premium = Sum Assured
 Term of Assurance x 4
 Accidental Death Benefit (ADB) can be attached.(SC)
THANKYOU

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