Best Investment Plan For Everyone | State Life Insurance | Endowment Plans | Best Saving Insurance Adviser: Syed Ayaz Raza
Contact No. 0313-2618209
Country Pakistan
City Karachi
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State Life Insurance Saving Policy (Rs. 50,000/-) Yearly Premium and Earn 5,000,000/-
State Life Insurance Saving Policy (Rs. 30,000/-) Yearly Premium and Earn 2,500,000/-
State Life Insurance Saving Policy (Rs. 15,000/-) Yearly Premium and Earn 3,000,000/-
State Life Insurance Saving Policy (Rs. 12,000/-) Yearly Premium and Earn 1,000,000/-
State Life Insurance Corporation of Pakistan was incorporated on November 1, 1972 under the Life Insurance Nationalization Order, 1972. Due to its well established Agency Network of more than 90,000 sales personnel.
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Brief History
The Life Insurance Business in Pakistan was nationalized during March 1972. 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 and effective November 1, 1972 the Management of the Life Insurance Business was consolidated and entrusted to the State Life Insurance Corporation of Pakistan.
State Life Insurance Corporation of Pakistan is headed by a Chairman and assisted by the Executive Directors appointed by Federal Government. Up to July 2000 the Corporation was run by Board of Directors constituted under Life Insurance (Nationalization) Order 1972. In July 2000, under Insurance Ordinance 2000, the Federal Government reconstituted the Board of Directors of State Life which runs the affair of this Corporation.
The basic structure of the Corporation consists of Seven Regional Offices, Thirty Three Zonal Offices, a few Sub-Zonal Offices, 190 Sector Offices, and a network of 1102 Area Offices across the country for Individual Life Insurance; Four Zonal Offices and 6 Sector Offices with 20 Sector Heads for Group & Pension are involved in the Marketing of Life Insurance Plans policies and products offered by State Life and a Principal Office. The Zonal Offices deal exclusively with Sales and Marketing. Underwriting of Life Insurance Policies and the Policyholder's Services. Regional Offices, each headed by a Regional Chief, supervise business activities of the Zones functioning under them. The Principal Office, based at Karachi, is responsible for corporate activities such as investment, real estate, actuarial, overseas operations, etc.
Major Achievements
The major function of the State Life Insurance Corporation of Pakistan is to carry out Life Insurance Business; however, it is also involved in the other related business activities such as investment of policyholders fund in Government securities, Stock market, Real Estate etc. The major achievements of State Life are as under:
• On the commencement of the operations, the Corporation took a very important step by effecting reduction up to 33% in the premiums on the past and potential Life Policies for the benefit of the Policyholders.
• State Life is profitable organization and it paid Rs.7.795 billion as dividend to the Government of Pakistan since its inception in 1972.
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