Minimum Age: 10 years
Maximum Age: 65 years
Age (Maximum) on Maturity: Age 75 years.
It’s a safest and surest method of guaranteed cash provision either at a specified time or at death (Allah forbid). Under these policies, the sum insured plus bonuses are payable at the end of the specified number of years or at death of the life insured if earlier. Premiums are payable for the specified number of years or till death, if earlier. The benefits under the plan can be further increased by attaching supplementary covers.
This policy will acquire a surrender value after it has been inforce for at least two consecutive years provided no premiums are in default. The surrender value will be quoted by State Life on request of the policyholder.
The plan serves the requirements of a family in various shapes by way of financial help at retirement, education of children or provision of capital for business.
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.