CORPORATE PROFILE

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 Bema Units named A, B and C Bema Units. However, later these Bema 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 Four Regional Offices, Twenty-Six Zonal Offices, a few Sub-Zonal Offices, 111 Sector Offices, and a network of 461 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 Policy holders 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: 1. 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. 2. State Life is profitable organization and it paid Rs.2.657 billion as dividend to the Government of Pakistan since its inception in 1972. 3. State Life has played very vital role in the economy by providing employment to the people of the country as permanent employees and as part of its marketing force and by investing the huge funds in different sectors of the economy. The Investment Portfolio of State Life as at 31.12.2009 stands at Rs.191.445 billions. 4. Investment portfolio also includes investment in Real Estate which stands at a book value of Rs.2.538 billion as at 31.12.2009 whereas it fair value is around Rs.21.681 billion in the same period. 5. The Paid up Capital increased from Rs.10 million in 1972 to Rs.1,100 million in 2009. 6. The Premium income increased from Rs.0.317 billion in 1972 to 28.367 billion in 2009. Similarly Investment income including rental income increased from Rs.0.81 billion in 1972 to 274.152 billion in 2009. 7. Total statutory fund of State Life stands at Rs.199.445 billion in 2009 as against Rs.1.494 billion in 1972.

8. State Life is smoothly striving towards its objective of making life insurance available to
large section of the society by extending it to common man. As at December, 2009 the total number of policies enforce under individual life were 2.895 million and number of lives covered under group life insurance were 3.754 million.

Objectives, Mission & Quality Policy

Objectives To run life insurance business on sound line. To run life insurance business on sound line. To provide more efficient service to the policyholders. To maximize the return to the policyholders by economizing on expenses and increasing the yield on investment. To make life insurance a more effective means of mobilizing national savings. To widen the area of operation of life insurance and making it available to as large a section of the population as possible, extending it from the comparatively more affluent sections of society to the common man in towns and villages. To use the policyholders fund in the wider interest of the community.

Mission To remain the leading insurer in the country by extending the benefits of insurance to all sections of society and meeting our commitments to our policy holders. Quality Policy To ensure satisfaction of our valued policyholders in processing new business, providing after sales service and optimizing return on Life Fund through a quality culture and to maintain ourselves leading life insurer in Pakistan.

ORGANIZATION

Board of Directors

Mr. Said Asia Side Mr. Said Rohm Sheikh Mrs. Spent Kandawalla Mr. Islam Baroque Mr. Amen Passim Dada

Chairman Director Director Director Director

Mr. Rashed Y. Chinoy Syed A. Wahab Mehdi Syed Hur Riahi Gardezi Mr. Akbar Ali Hussain

Director Director Director Secretary Board

Management

Chairman Mr. Said Asia Siddiqi

Telephone 021-99202830 021-99202870

Fax 021-99202844

Email chairman@statelife.com.pk

Executive Directors Syed Arshad Ali Mr. Muhammad Yahya Mr. Shoaib Mir Memon Mrs. Yasmeen Saud Mr. Abdul Hafeez Sheikh 021-99202828 021-99202843 021-99202875 021-99206867 021-99202829 021-99202836 edcd@statelife.com.pk edba@statelife.com.pk edpgs@statelife.com.pk edmkt@statelife.com.pk

Secretary Board Mr. Akbar Ali Hussain 021-99202818 021-99202869 scybrd@statelife.com.pk

Divisional Heads Mr. Ansar Hussain General Manager Investment

021-99202833

021-99202832

dhinv@statelife.com.pk

Mr. Mumtaz Ali Khoso Deputy General Manager Legal Affairs

021-99202867

021-99202868 dhlaw@statelife.com.pk

Mr. Sher Ali Khan General Manager Research & Analysis Lt. Col. (Retd.) Mohsin Ali Shah TI (M) General Manager Real Estate Mr. Shahid Fareed Qazi General Manager Banc Assurance Mr. Akbar Ali Hussain General Manager Corporate Affairs

021-99206863

dhra@statelife.com.pk

021-99206168

gmre@statelife.com.pk

021-99204519

gmbancassurance@statelife.com.pk

021-99202818

021-99202869

scybrd@statelife.com.pk

ORGANIZATIONAL STRUCTURE

CHAIRMAN

ANNUAL REPORTS

FINANCIALS

Performance Highlights

Premium Income - Individual Life

Year 2006 2007 2008 2009 2010

Rest. In Million 13,112.0 15,907.1 19,152.1 24,853.2 31,934.0

Premium Income - Group Life

Year 2006

(Rest. In Million) 2,879.6

2007 2008 2009 2010

2,809.6 3,543.2 3,513.7 3,705.3

Investment Income

Year 2006 2007 2008 2009 2010

(Rest. In Million) 14,923.8 17,505.2 19,134.6 21,544.7 27,434.1

Total Premium Income

Year 2006 2007 2008 2009 2010

(Rest. In Million) 15,991.6 18,716.7 22,695.3 28,366.9 35,638.9

Total Income

Year 2006 2007 2008 2009 2010

(Rest. In Million) 142,158.8 161,965.8 182,874.2 205,804.2 235,934.5

Life Fund

Year 2006 2007 2008 2009 2010

(Rest. In Million) 137,958.8 156,737.3 177,459.1 199,445.3 230,422.0

Total Assets

Year 2006 2007

(Rest. In Million) 149,448.6 169,821.4

2008 2009 2010

193,117.6 217,685.4 251,478.1

Investments

State Life Insurance Corporation of Pakistan invests its funds in accordance with the provisions contained in Insurance Ordinance 2000, Insurance Rules 2002 and SRO(309) K of 1970 as amended to date by the Government of Pakistan. Govt. Securities These include instruments issued by Government of Pakistan such as Treasury bills, Pakistan Investment Bonds etc. Approved Govt. Securities These include instruments as Wada Bonds, Provincial Securities/Tics etc. Loans These include loans in the form of Term finance certificates etc. Equities These include shares of listed and unlisted companies Immovable Property These include buildings, plots etc. Investment Portfolio 2008 As at 31-12-2009 (Rest. in millions) Particulars Govt. Securities Tics/Approved Govt. Securities Equities Bank Deposits Investment properties Policy Loans Portfolio 145,687 4,598 24,450 12,485 2,538 16,046

205,804

Investment Income As at 31-12-2009 (Rest. in millions) Particulars Govt. Securities Tics/Approved Govt. Securities Equities Bank Deposits Investment properties Policy Loans Other Income Portfolio 14,928 630 2,420 934 274 1,692 742

21,620

INDIVIDUAL LIFE PLANS

Whole Life Assurance

It is a unique combination of protection and savings at a very economical premium. Death at any time before age 85 years terminates payment of

premiums and the sum insured and attached bonuses become payable. In the event the insured survives to the policy anniversary at age 85 years, the policy matures and the sum insured plus bonuses become payable. Under this plan the rates of bonuses are usually much higher than the other plans and they help in increasing not only protection but also the investment element of the policy substantially. This plan is best suited for youngsters who have at initial stages of their careers and cannot afford to pay high premiums. Individuals who anticipate requirement of a lump sum in far future can also opt this plan.
Endowment Assurance

Its 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. 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.

Soda bather Plan

Soda bather is an anticipated endowment type with-profit plan that provides lump sum benefit at certain stages during the premium-paying term or on earlier death. In addition, this plan has a built-in Accidental Death Benefit (ADB) rider so that the policyholder gets an additional sum assured in case of death due to an accident. This plan is a safe instrument for cash provision at the time of need. With

this plan, the policyholder can secure greater protection and continued prosperity for the family at an affordable cost. Admissible Ages and Terms this plan is available to all members of the general public, aged from 20 to 60 years nearest birthday. Both males and females may purchase this plan. Terms offered under this plan are

12,15,18, 21, 24, 27, and 30 years.

Survival Benefits

a.

On completion of one-third of the policy term, 20% of basic sum assured can be taken by the policyholder. Another 20% of the sum assured can be taken on completion of two-third of the policy term and the remaining 60% of basic sum assured plus accrued bonuses (if any) shall be payable at the end of the policy term in the event of survival of the assured. b. If the option to withdraw an installment of 20% sum assured is not exercised on the due date or within 6 months after the due date, a special bonus will automatically be added to the policy at the end of 6 months. In this event: 1. On death of the assured while the policy is in force, the special bonus will be payable in addition to (1) Basic Sum Assured (2) Other Reversionary Bonuses accrued on the policy and (3) the amount of any installment left with State Life. 2. On the maturity date, the special bonus will be payable together with all the installments of the sum assured remaining with State Life, in addition to regular reversionary bonuses accrued on the policy. 3. So long as the policy remains in force, the policyholder may surrender the unclaimed installment of sum assured together with the related special bonus. The aggregate cash surrender value of the two shall not be less than the amount of the said unclaimed installment. 4. The reversionary bonuses as per usual practice will continue to be allotted each year on the basic sum assured (if in force) as and when Actuarial Surplus is declared. However, the unclaimed installments of the sum assured and related special bonus will not participate in State Lifes Actuarial Surplus. Death Benefits The full basic sum insured plus accrued bonuses are payable on death of insured any

time while the policy is in force. In addition, if death occurs as a result of an accident, additional amount equal to one basic sum assured, subject to maximum limit, will be paid. The usual maximum on the ADB of Rest. 4 million will apply and premium will be calculated accordingly Bonuses this policy will participate in State Lifes surplus. Rates of bonus applicable will be 25% higher than those on anticipated endowment plan.

Anticipated Endowment Assurance

This is a modified form of endowment assurance and is also called Three Payment Plan. Besides fulfilling the long-term financial needs, it also helps in meeting the short-term financial exigencies. As the name suggests, the plan offers three payments throughout term of the policy. The plan offers survival benefits equal to 25% of sum insured on completion of 1/3rd and 2/3rd term of the policy. If the policyholder does not withdraw the survival benefits, a very attractive special reversionary bonus is available. Click here for special reversionary bonus currently available. On completion of term of the policy, the remaining 50% sum insured plus accrued bonuses shall be payable. If the life insured expires during term of the policy, sum insured, accrued bonuses, unclaimed survival benefits and special reversionary bonuses are payable.

The plan is suitable for the individuals who have long-term financial needs but also anticipate requirement of money relatively earlier. Three Payment Plan helps full filling these short-term financial needs without terminating the actual contract.

Shad Abed Assurance

Shad Abed Plan is an extended form of endowment assurance. The benefits under the policy increase manifold in the event of death of the life insured.

On completion of term of policy, sum insured plus bonuses attached to the policy are payable. However, on 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. The coverage can be further widened by attaching supplementary covers with the policy.

This plan meets the requirements of those who appreciate the basic savings purpose of endowment assurance but also like some additional cover to protect loved ones in case they die, Allah forbid, before maturity.

Evan Sati Assurance

This is a joint life plan and covers lives of two partners say husband and wife simultaneously. Premiums are payable till the end of the specified term or till death of either of the insured persons, if earlier. The plan contains extensive benefits; an overview of which appears as under: On the death of the first life, the sum insured will be paid to the survivor. Further premiums under the policy will be waived, but the insurance protection of the second life will continue. Also, the policy will continue to participate in profits of the Corporation. 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 the second life survives the term of the policy, he or she will be paid sum insured together with the attached bonuses, even though the sum insured has been paid once, on the death of the first life. 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. Different supplementary covers are also available for increasing coverage under the policy.

Evan Sati Plan is best suited for those married couples who want to enjoy insurance coverage for a comparatively lesser premium. Moreover, housewives who are otherwise not insurable can also enjoy the benefits of insurance policy through this plan.

Child Education & Marriage Assurance

Child Education & Marriage Assurance is a plan for the protection of childs future. It provides a lump sum benefit for the child at the completion of the policy term. On completion of term of the policy, full sum insured together with the accrued bonuses become payable to the policyholder.

1. Continue the policy in the same manner as earlier by switching the plan for the benefit of another child. 2. Get a refund of all the previous premiums paid till the death of the child or the cash value of the policy, whichever is higher and terminate the contract. 3. Continue the policy without naming another child in which case the benefit of Refund of Premium [as provided above under condition (b)] will not be available.

Child Education & Marriage Plan is suited for the parents who are conscious about the future of their children. The term of the plan is such that the lump sum benefit becomes payable when the child attains a predetermined age of 18, 21 or 25 years. These ages may be selected considering the occasion at which children generally need financial assistance for higher education, marriage, or setting up business. Depending upon your individual needs, the plan is available in two separate versions of with and without built-in family income benefit. In addition to parent, this plan can also be affected by grandparents, uncles, aunts or any other person who is paying for the maintenance of the child.

Child Protection Assurance

Child Protection Assurance This is a joint life assurance and covers the lives of child and either of the parents. If the policyholder and the child both survive full term of the policy, sum insured and accrued bonuses become payable. If the policyholder dies before completion of term of the policy the payment of premiums ceases and the child is paid an income of Rest 100/- per thousand sum insured per annum till the completion of the policy term. On completion of policy term, sum insured inclusive of bonuses accrued till the death of the policyholder is paid to the child. If the child dies (Allah forbid) before maturity of the policy and during lifetime of the policyholder, the death claim payable to the policyholder depends on the age at death of the child. As the name suggests, the plan is suitable for parents who want to cater future financial needs of their children incase of death of the breadwinner of the family. The plan has a unique feature of providing coverage on the life of child. The coverage of the policy can further be widened by attaching supplementary covers.

Sooner Policy

Sooner Policy is an innovative life insurance product. It is flexible, secure and meets the challenges of inflation quite economically. Under a special feature of this plan, from third policy year onwards, sum insured under the policy and premium will increase by 6% per annum without providing any evidence of insurability. From the third policy year onward, the policyholder is provided with a statement showing the build up of cash value of the policy and sum insured for the year. The policy also participates in the surplus of State Life and currently the rate of bonus is Rest 105 per thousand per annum of the adjusted opening cash value.

Death Benefit: If the life insured dies during first two years of policy issue, then the initial basic sum insured will be payable. If the life insured expires in third or later policy years, the death benefit payable will be equal to sum insured applicable to the policy year of death plus adjusted opening cash value. Maturity Benefit: Policy matures on policy anniversary nearest to age 70 years of the life insured. The maturity benefit equals to cash value of the policy at age 70.

The plan is suitable for individuals who have started their career and expect increase in their income over a certain period of time say a year or two. The increase in premium and sum insured helps them to meet their

increased insurance requirement with increase in incomes.

Shania Policy

Shania Policy is an innovative life insurance product. It provides a solution to the problems of many concerned parents who want to save now in order to provide for their childrens higher education, marriage and other expenses when the need arises. The term of the plan is such that the lump sum benefit becomes payable as the child attains the age of 25 years. Shania Policy also caters from the ravages of inflation. This is done by the option of automatic increase of 6% per annum in sum insured and premium from third policy year onward. From the fourth policy year onward, the policyholder is provided with a statement showing the build up of cash value of the policy and sum insured for the year. The policy also participates in the surplus of State Life and currently the rate of bonus is Rest 105 per thousand per annum of the adjusted opening cash value.

Maturity Benefit: The policy matures when the child attains age 25 years. At maturity the cash value of the policy is paid to the child. The cash value includes all the bonuses attached with the policy.

Death Benefit: If the life insured dies during term of the policy, premium payments stop and the sum insured applicable to the policy year of death is deferred to be payable when the child attains age of 25. At the time of death of the life insured, the said sum insured is added to the adjusted opening cash value to be called the enhanced cash value and participates in State Lifes surplus until it is paid out to the child when he or she attains the age of 25 years. The child will have an option of either collecting the benefit in a lump sum or in five equal annual installments.

Optional Maturity Endowment

It is an endowment assurance with a built in option to mature early. The plan is available for individuals aged 20 to 45 years. The policyholder has following options regarding maturity of this plan.
After the policy has been in force for 20 years or more, the policyholder gets an option to mature the policy for a proportionately reduced sum insured. After the policy has been in force for 20 years or more, the policyholder, depending on his or her needs, can mature the policy in parts. Let the policy mature at originally selected term. In this case the policyholder gets an additional bonus.

The policy participates in bonuses declared by State Life from time to time. Please click here for details of bonuses currently available for this plan. Coverage under the policy can also be enhanced by attaching supplementary covers.

Neighbor Plan

This plan provides term insurance cover for a period ranging from 5 to 10 years. As the name suggests, this plan is meant to provide protection during the term of the policy only i.e. sum insured is payable on death if it occurs during the term of insurance while the policy is in force. The plan does not carry any survival benefits, maturity benefits, surrender values, loan values etc. The policies will without profits.

The plan is available in two versions namely, with single premium and with annual premiums. Attaching certain supplementary covers can widen the coverage under the plan.

Maracas plus Assurance

Mohair Plus provides a substantial sum of money on maturity or earlier death (Allah forbid) of the life insured. On maturity, the policyholder will receive sum insured plus bonuses attached with the policy. However if the life insured dies before completion of term of the policy, basic sum insured plus attached bonuses will be paid to the dependants immediately. In case of death due to accident, the double of the sum insured is paid. In addition, the dependents will also be paid an income of Rest 240 per thousand sum insured per annum for a fixed period of 15 years. The first payment will fall due on the policy anniversary immediately after the death of the life insured.

Supplementary Covers

State Life offers a number of supplementary covers to enhance coverage under different plans. These supplementary covers can be attached with the main policy and are not available exclusively. Please click below for the details of these supplementary covers:

Accidental Death & Indemnity Benefit (AIB) Accidental Death Benefit (ADB) Family Income Benefit (FIB) Waiver of Premium (WP) Special Waiver of Premium (SWP) Term Insurance (TI) Guaranteed Insurability (GI) Refund of Premium Rider (RPR) Hospital & Surgical Benefit (H&S)

Accident Death & Indemnity Benefit (AIB)

This supplementary cover provides for payment of additional amount equal to the sum insured under the policy in the event of death by accidental means, or in the event of loss of two or more limbs or loss of sight in both eyes. One-half of the sum insured will be paid for loss of one limb; onethird of sum insured in the event of loss of one eye and one-fourth of sum insured will be paid for loss of thumb and index finger. Moreover, weekly indemnities are also available for total and partial disability of the life insured as a result of the accident. If the life insured becomes permanent and total disable, an annuity of 10% of sum insured will be payable for a maximum period of ten years. AIB is suitable for office commuters and individuals who travel and use different modes of transport. The rates of premium for this supplementary benefit range from Rest 4 to Rs10 per thousand sum insured depending upon the occupational rating of propose for standard lives whose age should be between 18 to 55 years. AIB can be attached with following plans:
Whole Life Assurance Endowment Assurance Anticipated Endowment Assurance Evan Sati Assurance Child Education & Marriage Assurance Shad Abed Assurance Shania Policy Child Protection Assurance (For adult life only) Mohair Plus Assurance Neighbor Plan Optional Maturity Plan

Accidental Death Benefit (ADB)

This supplementary cover will provide for payment of an additional amount equal to sum insured in the event of death by an accident as defined in the contract. On payment of a modest premium, a handsome accidental coverage is obtained through this supplementary cover. ADB is highly recommended for individuals who travel daily through road transport. The cover is available to lives between 5 and 55 years of ages. Maximum term of this supplementary benefit is not allowed to exceed the premium paying term of the basic policy, or 60 years of age of the life proposed whichever is earlier. ADB can be attached with following plans:
Whole Life Assurance Endowment Assurance Anticipated Endowment Assurance Evan Sati Assurance Child Education & Marriage Assurance Shania Policy Child Protection Assurance Mohair Plus Assurance Neighbor Plan Optional Maturity Plan

Family Income Benefit (FIB)

This supplementary cover provides that incase of death of the life insured during term of this cover, an annuity of 10% to 50% per annum of the basic sum insured will be payable till the completion of term of this cover. For instance, if a life insured has taken 25% FIB supplementary cover for 20 years on his policy having sum insured of Rest 1,000,000. If the life insured expires during term of FIB, say at the end of fourth year, an annual sum of Rest 250,000 will be payable for rest of 16 years. While the basic plan provides a lump sum, FIB provides a regular stream of income to the dependents and helps in meeting the day to day expenses. This supplementary cover is available to lives between 18 and 55 years of ages. It can be attached with following plans:
Whole Life Assurance Endowment Assurance Anticipated Endowment Assurance Evan Sati Assurance Child Education & Marriage Assurance Shad Abed Assurance Shania Policy

Child Protection Assurance (For adult life only) Mohair Plus Assurance Optional Maturity Plan

Waiver of Premium (WP)

This supplementary cover provides for waiver of due premiums in the event of the life insureds Total and Permanent Disability caused by accident as defined in the contract. With the help of WP, the life insured gets relieved of vagaries of paying premiums incase of his or her being incapacitated as a result of accident. The rate of premium for standard risk will be Rest 0.50 to 1.00 per thousand of sum insured depending upon the age of life insured. WP is available to lives between 18 and 55 years of ages. It can be attached with following plans:
Whole Life Assurance Endowment Assurance Anticipated Endowment Assurance Evan Sati Assurance Child Education & Marriage Assurance Child Protection Assurance (For adult life only) Mohair Plus Assurance Optional Maturity Plan

Special Waiver of Premium (SWP)

This supplementary cover will provide for waiver of premiums under the policy incase of the life insureds Total and Permanent Disability due to accident or disease which renders him unable to engage in any occupation. With the help of SWP, the life insured gets relieved of vagaries of paying premiums incase of his or her being incapacitated as a result of accident or disease. SWP is available to lives between 20 and 55 years of ages. SWP can be attached with following plans:
Whole Life Assurance Endowment Assurance Anticipated Endowment Assurance Evan Sati Assurance Child Education & Marriage Assurance Child Protection Assurance (For adult life only)

Optional Maturity Plan

Term Insurance (TI)

In the event of death of the life insured during term of TI supplementary cover, the sum insured will be payable in addition to the benefits payable under the basic policy. Suppose, Mr. A, covered under a policy of Rest 1,000,000, and also attaches TI supplementary cover with his policy. Incase of his death during term of TI, a sum equal to Rest 1,000,000 will be payable under this supplementary cover. This will be in addition to the benefits payable under main policy. This supplementary cover is an excellent opportunity for individuals who want to enhance coverage of their policy substantially on payment of a meager amount of premium. TI is available to lives between 18 and 55 years of age. TIR can be attached with following plans:
Whole Life Assurance Endowment Assurance Anticipated Endowment Assurance Evan Sati Assurance Child Education & Marriage Assurance Shad Abed Assurance Shania Policy Child Protection Assurance (For adult life only) Mohair Plus Assurance Optional Maturity Plan

Guaranteed Insurability (GI)

Under this supplementary cover, State Life gives the policyholder a right to purchase additional life insurance unto specified maximum amounts on specified further dates at standard rates, without evidence of insurability being required at such later dates. The specific further dates on which additional insurance can be taken are the policy anniversaries of the basic policy nearest the 25th, 28th, 31st, 34th, 37th and 40th birthdays of the life insured. Thus the option dates for various issue ages
Issue Ages No of Option Dates 6 5 Option Date Ages

10 24 25 27

25, 28, 31, 34, 37, 40 28, 31, 34, 37, 40

28-30 31-33 34-36 37

4 3 2 1

31, 34, 37, 40 34, 37, 40 37, 40 40

This supplementary cover is available only to standard lives between 10 and 37 years of ages and who are not engaged in hazardous occupations. Only one GI will be issued on the life of any one person. GI is available only at the time of issue of the basic policy and can not be attached to the policy after its issuance. Individuals who foresee increase in their insurance needs in the near future can get benefit from this supplementary cover. It saves them from providing any further evidence of insurability incase they desire to enhance coverage under the policy. GI can be attached with following plans:
Whole Life Assurance Endowment Assurance Anticipated Endowment Assurance Child Education & Marriage Assurance Optional Maturity Plan

Refund of Premium Rider (RPR)

RPR provides for refund of premiums paid under the policy in the event of death of the life insured during term of the policy. It is an ideal form of enhancing the life cover under the policy with a modest increase in premium. This supplementary cover is available to lives between 20 and 60 years of ages. The available term ranges from 10 to 25 years. RPR can be attached with following plans:
Endowment Assurance Anticipated Endowment Assurance Shad Abed Assurance Child Protection Assurance (For adult life only) Optional Maturity Plan

Hospital and Surgical Benefits (H&S)

This supplementary cover provides benefits in case of hospitalization of

the life insured, in State Lifes approved hospitals, as a result of sickness or accident. On payment of double amount of premium specified for H&S, the benefits and their limits will also be doubled. H&S is available to lives between 18 and 50 years of ages. The available term ranges from 10 to 25 years. RPR can be attached with following plans:
Whole Life Assurance Endowment Assurance Anticipated Endowment Assurance Evan Sati Assurance Shad Abed Assurance Child Protection Assurance (For adult life only) Optional Maturity Plan

Group Life & Pension Plans

Term Insurance Scheme

Product subscription / features Group Term Insurance Plan provides life insurance coverage to the member of a group, such as the employees of an employer. The amount of coverage of each member is determined with reference to either his designation or salary or employment category or some other similar variable. What need does it fulfill? This plan provides insurance protection to the members of a group at a very affordable minimum possible cost, 24 hours coverage around the world.

By promoting a sense of financial security amongst the employees it contributes to improving the working environment for the employer resulting in higher productivity. In most cases the employer is legally obliged to provide insurance cover to his employees. This plan helps the employer to fulfill this requirement. Premiums are tax-deductible for the employer. Total premium under group term insurance is lower as compared to sum of premium of all policies if issued individually to each life, due to savings in expenses. The Benefits of Plan On death of any insured member the sum assured on his life is paid for the benefit of his surviving family. This benefit is payable regardless of the total number of the deaths even if the total amount paid out exceeds the total premiums received under the policy. However, if in any three-year period State Life earns a net profit on any policy, then some share in the profit is passed on to the policyholder, depending upon the total number of members in the scheme. This share can go up to 90% in case of large sized schemes. What riders can be added?
1. PTD (Accident) Rider
Under this rider the insured member is entitled to payment of the sum assured in case of any accident causing permanent and total disability, which includes loss of two limbs or two eyes or loss of hearing in both ears or severe facial disfigurement. If the disability is permanent but not total then some percentage of the sum assured is payable depending upon the severity of the disability. In this regards the same schedule of disabilities is applicable as is prescribed under the labor laws. In case of a temporary accidental disability causing absence from work a fortnightly benefit calculated at the rate of Rest. 3,000 per month or the monthly salary whichever is less is payable.

2. A.D.B. Rider
Under this rider the death benefit of an insured member is doubled if the death was caused by an accident.

3. Natural Disability Rider

Under this Rider if an, insured member is rendered incapable of pursuing any occupation or vocation for gainful employment due to permanent disability caused by disease or sickness then he is entitled to the sum assured as benefit.

4. Critical Illness Rider

If an employee contracts any of the following critical illnesses while insured under this rider then he is entitled to the rider sum assured as benefit. Covered critical illnesses include. Heart attack Coronary Artery by-pass surgery Stroke Cancer Kidney Failure Major organ transplant such as heart, kidney or liver The insured member must survive for at least 31 days after contracting the illness to become eligible for he benefit. Some restrictions apply during the first two years of coverage.

Suitable For The plan is suitable for employers who desire to provide financial security to their employees by means of insurance coverage or for members of a professional body or association or some welfare association or a social club who desire to avail insurance protection on a collective basis.

Group Provident Fund Insurance Scheme Group Provident Fund Insurance Scheme provides life insurance coverage to the members of the provident fund scheme of an employer. The amount of coverage of each member depends upon his age and the amount of his provident fund balance at any time. What Need Does It Fulfill? Young employees normally have short service to their credit and consequently their Provident Fund balance is also quite meager. In case of unfortunate death of such a person the provident fund amount is not adequate for meeting the financial needs of the family such as schooling of the children, their marriage expenses and housing accommodation. Group Provident Fund Insurance Scheme is specially designed to meet such an eventually since the benefits under the scheme are on a sliding scale. The benefits under a typical scheme are as follows:Age Bracket Benefit

18 31 41 51 56

30 40 50 55 59

4 times the fund balance. 3 times the fund balance. 2 times the fund balance. 1 time the fund balance. 1/2 times the fund balance.

The younger employees enjoy a higher multiple of the fund balance since the average amount of their fund balance is smaller but their requirement for insurance is greater. Benefits of Group Provident Fund Insurance Scheme On the death of any member of the provident fund scheme his family is paid a lump sum amount equal to the amount of his fund balance on the date of his death multiplied by a factor depending upon the age of the employee at death. The factors applicable for a typical scheme are already given above however the employer in a particular case may adjust these factors to suit his own special requirements. If the scheme has 200 or more members then at the end of three years the fund is also entitled to some share in the profits depending upon the size of the scheme. What riders can be added? Any rider which can be added with group term insurance plan can also be added with this plan such ADB, PTD (Accident), NDB or Critical Illness Cover. Suitable for.. The plan is suitable for any employer who maintains a provident fund scheme for his employees and who appreciates the benefits of providing the maximum possible insurance coverage to his employees. Some employers may appreciate the benefits of group insurance but they may avoid higher coverage under their group term insurance policy since the cost of this coverage would either have to be borne by them or if they recover the cost from the salaries of their employees then some of the employees might object to it. For such employers this scheme is very suitable since it does not require any explicit premium contribution from the employer or the employees, instead the cost of the scheme is recovered from the annual investment return earned by the provident fund. In a typical case, if a fund is earning a

return of around 12% per annum, then with the introduction of this scheme, this return may reduce to about 11 or 11 % per annum. This decrease is so small that most of the employees do not even feel it but by virtue of it their families could enjoy a handsome insurance protection against any misfortune striking the breadwinner of the family.

House Building & perquisites Insurance Scheme

Under this plan each member of the group is insured for the total amount of loan outstanding against him inclusive of accumulated interest. The amount of Insurance is the actual amount of loan outstanding on the date of death whereas the premium is charged on the average loan outstanding over the whole policy year. What need does it fulfill? It provides financial security to employers and financial institutions against the risk of untimely death of any of their indebted employee or client. Very often the family of the deceased person is not is a position to repay the loans taken out by him, especially if the deceased person was the sole breadwinning member of the family. In such a case the insurance coverage provides an assurance to the creditor that he would be able to recover his capital without causing hardship to the distressed family. The creditor is also protected from the headache of constantly monitoring cases of delayed repayments of loan in hardship cases caused by unforeseen death of a bread winning family member. The premium due under this policy may be recovered by the creditor from the borrowers along with the loan repayment installments. Benefits of Group House Building & perquisites Insurance In case of death of an insured member of the scheme the total amount of the loan outstanding against him including accumulated interest is payable to the policyholder. In case State Life earns a profit on any policy during a 3-year period, the policyholder is also entitled to some share in the profits depending upon the size of the group. What riders can be adds?

PTD (Accident) and NDB rider may be attached with this plan. These riders provide insurance cover against permanent disability due to accidental and natural causes rendering the insured member unable to earn a livelihood for himself and his family. In such a case the attaching riders can facilitate the creditor in recovering the outstanding amount of loan. Suitable For. This plan is suitable for employers who have a scheme for providing loans to their employees for house building, purchases of conveyance or any other goods of household use. It is also suitable for banks that are in the business of granting loans to their clients for purchase of house or conveyance or for some business venture. Similarly leasing companies and other financial institutions with similar facility may find this plan quite attractive.

Pay Continuation Scheme

Pay Continuation Scheme

1. Manpower is still considered as one of the most important elements of productions
inspire of the dramatic growth of microchip based automation in all walks of life, especially in commerce and industry. The overall efficiency of an organization therefore depends upon the quality of the manpower of its employees. The more devoted, hardworking and loyal the employees the higher the reward to the employer in the form of greater efficiency and profitability. Quality manpower can be attracted by offering a good employee benefits package based on ensuring security and peace of mind of the workforce so that a greater commitment is obtained from them. This is why the enlightened employer pays particular attention to the welfare and well being of their workforce through various employee benefits scheme. One of the functions of such schemes is to provide protection to the employees dependants in the event of his death. Progressive employers do provide group insurance which pays a lump sum to the dependants. This however does not last long. What is required in addition is a regular monthly income for a period of time. To meet this Requirement State Life proudly presents a plan, which offers invaluable protection to the employees family during his working life. The familys regular monthly income is protected for 15 years or until age 60 witch ever is earlier. In this way coverage is provided for pay upon the death of the employee. This is illustrated by the following example: -

2.

Supposing the pay of an employee is Rest 2000/- per month. If death takes place at age 47 then the benefits payable will be Rest 2000/- per month up to age 60, Ie., for a period of 13 years. Total amount payable Rs.3,12,000/If death takes place at age 35 then the benefit payable will be 2,000/- per month for a period of 15 years. Total amount payable Rest. 3,60,000/-

Annual premiums will be calculated on the basis of the employees pay and his age and will be payable at the beginning of each scheme year. If this policy qualify for profit commission it will be payable in accordance with the rules at the end of 3 years. Cover without medical evidence is allowed on the same basis as group term with the monthly benefits being converted into a lump sum equivalent. The total of the benefits so arrived at should, however not the maximum allowable under the policy exceed.

Group Pension Scheme

Foreword we, at State life, have become increasingly aware of the predicament of progressive employers wanting to better the lifestyle of their employees by providing financial security and job satisfaction, but not being able to do so, due to lack of availability of avenues and opportunities. This booklet is a guide to the State Lifes Pension Scheme that enables an employer to provide substantial benefits to employees and ensure a higher state of well being for them. It explains the institution, administration and benefits of the pension scheme and with the help of expert professionals in our Pensions Division, we can assist you in availing it, in your own and your employees interest. Our representatives will only be too pleased to be of any service to you.
1. Introduction
Once the working life of an individual is over, or he has retired, what will he live on? This is a question which every individual faces during his working life and is of equal importance to a concerned employer. Personal savings, Provident Fund and Gratuity are the normal assets he acquires. If not spent prudently, these assets can fritter away in a short time. State lifes Pension Scheme is the only source which provides a steady monthly income, when other sources of income stop. This booklet explains step-by-step the nature of the Pension Scheme, how it operates, and what are its benefits to the employer as well as to the employees.

2. What is Pension Scheme

Basically it is a saving, or calls it a contribution, which is collected during the working life of an individual and invested profitably. After retirement the individual is entitled to a steady monthly income from a fund built up from the earlier savings. In a sense, it is a reward to the employee, granted today, while money is to be received on retirement.

3. Why a Pension Scheme

We advise a pension scheme due to following benefits to the Employees: After retirement when the monthly pay-cherub stops, the individual starts receiving a regular monthly income in the form of a pension. While contribution to the scheme, the individual gets a tax concession. The individual, after retirement, need not fear of a drastic reduction in his standard of living. All pensions are completely tax-free. Retirement comes as planned and not abruptly as a shock.

4. Benefits to the Employer

Contributions to the Pension Scheme by the employer are treated as business expenses and deductible in full. The knowledge that at the end of the career, the employee will get a regular pension, helps to build up his job loyalty and the adherence to the job, to the employers satisfaction. Employer does not have to find money to compensate an employee when he ceases to work. Shows that the Management cares for their staff and is concerned about their welfare. Attracts new employees. Retirement of personnel is planned in advance, removing uncertainty both for the employer and the employee. Promotion channels in the management hierarchy are unclogged.

5. Comparison with Provident Fund and Gratuity.

1 1

Provident Fund

This is like a savings bank. The contribution of the employer as well as the employee along with interest accumulated over the years, is handed over to the employee on his retirement. However, in case an employee wishes to leave before retirement is due, employers contribution may not have to be paid; or only part payment may be made.

1 1

Gratuity Gratuity is exclusively the employers contribution for the benefit of the employee. From half to a full months salary is credited for every year of service. Reserves are set aside in the balance sheet but they do not attract tax concession, unless it is a funded scheme. The security of the employee to receive the gratuity is dependent on the continued existence of the employer and his profits, except in case of a funded scheme.

1 1

Pension Scheme In comparison with the aforementioned two retirement benefits the Pension Scheme has distinct advantages: Payments through Pension Scheme are guaranteed for life. A pensioner can look forward to his retirement with confidence and security. Pension Scheme is the only method through which regular income accrues to an employee after retirement. The payment of the pension is not dependent upon the fortune of the employer. Lump sum comparable to those received from Gratuity or Provident Fund, can still is drawn by commutation or the pension while maintaining a steady monthly income.

2. How State Life can help you with the Pension Scheme?
State Life maintains a full-fledged pension Department capable of handling each and every scheme in the most competent and professional manner. It has actuaries, lawyers and other experts, besides offering a unified administrative, technical and investment service. An employer can relieve himself of the tedious and cumbersome work by using the professional service offered by State Life, the major ones being: 11 Designing a Pension Scheme according to am employers exact requirements, in addition to determining the rate of contribution etc. 11 Preparation of explanatory documents, if required, for consideration by employees. 11 Assisting the employers legal advisers with the preparation of Trust deed and Rules. 1 1 Providing reasonable assistance in negotiations with the Central Board of revenue for approval of the scheme. 1 1 Maintenance of Individual records of members of the scheme, their contributions, the employers contribution, and pension accrued etc. 1 1 Facilities for payment of pensions, when due Security: All policies issued by State Life are guaranteed and enjoy full financial security, backed by the Government under Article 35 of Life Insurance Nationalization Order 1972.

3. Payment of Pension

The pension will be payable by monthly installments; commencing from the retirement of member and ceases upon his death.

4. Guaranteed Payments
By incorporating a Guaranteed Pension period, payment can be ensured for a defined period say 5 to 10 years, whether or not a pensioner is alive after retirement, if, however, a pensioner survives the guaranteed period, pension will continue throughout his lifetime.

5. Supplementary Benefits
They may be termed as supplementary, but are indeed those invaluable finishing touches that make the picture complete. Employees would not feel secure unless their families were provided for in the event of their untimely demise. At a little extra cost employees may be given peace of mind by providing these benefits, some of which are listed below: Widow's Pension (upon death in service) The pension will be payable to the wife of a member if he dies while in service. Normally, a widows pension is one half of the members pension entitlement. WIDOWS PENSION (upon death after retirement) The pension is payable to the wife if the member dies after retirement. In this case also a widows pension is one half of the pension the member was receiving. The widows pension, in either case would be payable for life but would cease in the event of remarriage. Orphan's Benefits The inclusion of orphans benefits in Pension Scheme along with the widows pension, gives the scheme a level of completeness. A normal scale of orphans benefit is 33% of the widows pension per child, payable upon the childs attainment of age 18 or earlier marriage. Limit is imposed on the number of children who can claim such benefits.

6. Retirement Aspects
Pension will be payable to a member according to a predetermined scale on the normal retirement date fixed by the employer.

7. Early Retirement
A member who retires before his normal retirement date on account of becoming incapacitated, or for any other reason, may be granted a reduced immediate pension to commence on the day following the actual date of retirement.

8. Late Retirement
A member who remains in employers service after the normal retirement date will receive an appropriately increased pension on retirement.

9. Withdrawal Benefits
If a member withdraws from the service of the employer before the normal retirement date due to any reason and without any entitlement to early retirement pension, his future contribution, or contribution made on his behalf, will cease. Benefits to be paid on withdrawal will depend upon the withdrawal from service rules of the scheme. In such a case one of the following procedures may be adopted: Refund of contribution If a member withdraws from the contributory scheme a refund is made of all the contributions made by the employee. Deferred Paid-Up Pension A withdrawing member may be allowed a deferred paid-up pension of the amount accrued to his account on the date of withdrawal. The reduced pension will commence on his normal retirement date.

Private Education

EDUCATION PLAN Moving towards more educated Pakistan Introduction: It is the dream of every father and mother to educate their children. They sacrifice their needs and work hard to turn their dreams into reality. However, the human life is uncertain. A sudden death of the breadwinner could end all the hopes. State Life has designed an innovative plan to address this area. You know that State Life is the largest Life Insurance Organization in Pakistan with offices throughout the country including remote areas. There are around 6 million people insured with State Life. We have the experience of more than 30 years in Life Insurance Business. Besides the immense financial strength, all the policies of State Life are guaranteed by Government of Pakistan.

Being the leading Insurer in the country, State Life aims to play its role in development of education. State Life would run this plan on non-profit basis. If the plan generates any profit to State Life, whole profit would be returned to the school which may be utilized for the welfare of students such as scholarship. Having such plan would also give competitive advantage to the school. This plan intends to ensure continuation of education of school children in case their fathers or guardians die. The plan would cover the annual fee of the schools and cost of books and uniforms. Schools to be Covered Registered Private Schools with at least 300 students would be eligible to be covered under this scheme. The G&P Division should approach the schools with good standing based on their general reputation, location, fee structure etc. This point should be taken as general advice and not as a matter of strict condition. Eligible Persons The fathers (with age below 60) of the students studying in class level Nursery to 10 would be covered under the scheme on compulsory basis. In case the father is not alive, guardian may be covered provided his age is not more than 60 years. Benefit In case the father or guardian dies while the student is studying in school, State Life would pay the fee of the student to the school. An additional annual grant equal to school annual fee would also be paid to cover the cost of books and uniforms. This payment would be made by State Life each year till the student completes education in class 10. In case the annual fee of the school increases by more than 5% in any year, the benefit payment by State Life would take it as 5%. Cost The cost of the scheme for first year would be 6.00% of total annual fee of the school. The cost would be paid by the school annually in advance.

State Life would review the cost each year. Medical Requirements There would be no medical requirements if the annual fee is equal to or less than the Class Level Wise Limits given below
Class Level Nursery, KG 1 & KG Class 1-5 Class 6-10 Maximum Annual Fee unto which No Medical would be Required (Rest.) 50,000 75,000 100,000

In case the annual fee is higher than the above limits, State Life would determine if any medical is required. Data Requirement Once the policy is issued to the school, the data of fathers/guardians such as name, date of birth, occupation, and NIC # would be provided by the school to State Life within a period of 3 months. Claim Settlement The school would lodge the claim as soon as possible on a prescribed form along with necessary supporting documents such as death certificate, copy of NIC. State Life would start paying the fee within the shortest possible time, after necessary verification. Termination of the Coverage The insurance coverage would terminate on the earliest of following events:
a. b. c. d. Termination of the Contract between the School and State Life, Father/Guardian attains the age of 60, Student leaves the school, Wind up of the School,

Profit Sharing State Life would evaluate the scheme after every three years and if the scheme has generated any profit to State Life, 100% of the profit would be

returned to the School. The profit of the Scheme would be worked out as follows: Total Cost Paid or Payable Less State Lifes Management Expenses & Contingency Margin Less Claims Paid, Less Claims in-process, Less Present Value of future payments on claims incurred & reported Less Provision for claims incurred but not reported. State Lifes Management Expenses & Contingency Margin as percentage of cost would depend on average number of students remained covered during the profit commission period, as follows:

Average Number of Student per year 300-600 601-1,000 1,001-3,000 More than 3,000

State Lifes Management Expenses & Contingency Margin (as % of Cost) 25% 20% 15% 10%

Closing Remarks This is a brief of the Scheme which is sufficient at proposal stage. If a proposal is accepted, a detailed contract would be executed between the School and State Life, containing all the details of the scheme.

OFFICES HEAD OFFICE

State Life Insurance Corporation Of Pakistan Principal Office State Life Building No. 9, Dr. Ziauddin Ahmed Road, Karachi-75530 PABX No 021-99202800-9 Lines UAN 021-111-111-888 Chairman Secretariat
Name & Designation Mr. Shahid Aziz Siddiqi Chairman Tel # 021-99202830 021-99202870 Fax 021-99202844

EXECUTIVE DIRECTORS Syed Arshad Ali Marketing, Group & Pension 021-99202828

Mr. Muhammad Yahya Legal Affairs.

021-99202843

Mr. Shoaib Mir Memon Policyholder Services, Inspection & Evaluation, Information Technology, Real Estate (Additional Charge) Research & Analysis, Mrs. Yasmeen Saud Finance & Accounts, Acturial

021-99202875 021-99206867

021-99202829

Mr. Abdul Hafeez Shaikh Personnel & General Services.

021-99202836

SECRETARY BOARD Mr. Akbar Ali Hussain 021-99202818 021-99202869

DIVISIONAL HEADS Mr. Ansar Hussain General Manager Investment Mr. Mumtaz Ali Khoso Deputy General Manager Legal Affairs Mr. Sher Ali Khan General Manager Research & Analysis 021-99202833 021-99202832

021-99202867

021-99202868

021-99206863

Lt. Col. (Retd) Mohsin Ali Shah TI (M) General Manager Real Estate Mr. Shahid Fareed Qazi General Manager Bancassurance Mr. Nadeem Bessey General Manager Group & Pension Mr. Nadeem Bessey General Manager Health & Accident Insurance (Add Charge) Mr. Akbar Ali Hussain General Manager Corporate Affairs Mr. Abdul Hafeez Shaikh General Manager Internal Audit & Compliance Mr. Muhammad Izqar Khan General Manager / Divisional Head Marketing

021-99206168

021-99204519

021-99202890

021-99202866

021-99202890

021-99202866

021-99202818

021-99202869

021-99202871

021-99202841

021-99202851

021-99202831

Mr. Saleem Khaliq Deputy General Manager Information Technology, Mr. Faisal Mumtaz Divisional Head (Additional Charge) Policy Holder Service, Inspection & Evaluation Mr. Faisal Mumtaz Deputy General Manager Actuary

021-99204590

021-99202827

021-99202838

021-99202826

021-99204571

021-99202874

Mr. Attaullah A. Rashid Deputy General Manager Personnel & General Services Mr.Muhammad Rashid Deputy General Manager Finance & Account

021-99204591

021-99204580

021-99202863

021-99202849

Network of Individual Life Insurance Offices

SOUTHERN REGION Mr. S.H.Raza Regional Chief Phone: 021-9217035, 9217036 State Life Building # 2, 7th Floor, Wallace Road, Karachi. email: rcsouth@statelife.com.pk

ZONES IN SOUTHERN REGION Karachi (Southern) Zone Mr. M. Iqbal Gill. Zonal Head Phone: 021-9217024,9217026 S.L.B.#2, 11th Floor Wallace Road Karachi. email:zhkszn@statelife.com.pk Hyderabad Zone Mr. Dur Muhammad Baladi Zonal Head Phone: 0221-200622,9200352 State Life Building Thandi Sarak, Hyderabad. email: zhhydzn@statelife.com.pk Mirpurkhas Zone Mr. Zahoor A. Bhatti Zonal Head Phone: 0231-9290205 M.A. Jinnah Road Near D.C. Office MirpurKhas. email:zhmprkszn@statelife.com.pk Karachi (Central) Zone Mr. Khalid Shaikh Zonal Head Phone: 021-99260011, 99260013 2 & 3rd Floor, Al Farhan Tower, Plot # D/15, Block H. North Nazimabad, Karachi. email: zhkcenzn@statelife.com.pk Quetta Zone Mr. Kenaya Lal Shaheen Zonal Head Phone: 081-9201520 P.I.A Bldg, 2nd Floor, Hali Road Quetta. email: zhqtazn@statelife.com.pk Larkana Zone Mr. Abdul Mannan Sheikh Zonal Head Phone: 0741-9410812 State Life Building Qaid-e-Awan Road, Larkana. email: zhlarkzn@statelife.com.pk Karachi (Eastern) Zone Mr. Gianchand Zonal Head Phone: 021-4539180, 4538095 Jason Trade Centre 7th Floor, 39-A-1 PECHS, Sharah e-Faisal, Karachi. email: zhkezn@statelife.com.pk Sukkur Zone Syed Saghir Abid Rizvi Zonal Head Phone: 071-9310501 State Life Building, Minara Road,Sukkur. email: zhskrzn@statelife.com.pk

MULTAN REGION Mr. Tahir Ahmed Khan Regional Chief Phone # 061-9200670,9200770 State Life Building 4th Floor, Chowk Nawan Saher,Abdali Road Multan. email: rcmul@statelife.com.pk ZONES IN MULTAN REGION Multan Zone Mr. Choudhry Akhtar Hussain Sahiwal Zone Chaudhry Muhammad Ashraf RahimYar Khan Zone Mr. M. Anwar Shahid

Zonal Head Phone # 061-9200676 State Life Building Chowk Nawan Shaher Multan. email:zhmulzn@statelife.com.pk Dera Ghazi Khan Zone Mr. M. Mukhtar H. Awan Zonal Head Phone # 0641-9260528 Rehman Plaza, Jampur Road Dera Ghazi Khan. email:zhdgkzn@statelife.com.pk

Zonal Head Zonal Head. Phone # 0441-66606 Phone # 0731-9230027 Sattar Complex, 2nd Floor,Iqbal Complex Model Town, Stadium Road Sahiwal. Rahim Yar Khan. email:zhswlzn@statelife.com.pk email:zhrykzn@statelife.com.pk

Bahawalpur Zone Z. M. Kamaran Shamsi Zonal Head Phone # 062-9255171-2 Cell. # 0300-8680267 Circular Road 2nd Floor, Al-Karim Plaza Bahawalpur email:zhbwlzn@statelife.com.pk

CENTRAL REGION Mr. Madad Ali Anjum Regional Chief, Phone: 042-9205121-2, 9205130 Fax 042-9205127 State Life Building Ground Floor, 15-A, Davis Road Lahore. email: rccentral@statelife.com.pk ZONES IN CENTRAL REGION Lahore Central Zone Mr. Najam ul Hasan Zonal Head Phone: 042-9210269-70 State Life Square, 4-Lytton Road, Lahore. email:zhlcenzn@statelife.com.pk Faisalabad Zone Mr. M. Ramzan Shahid Zonal Head Lahore Western Zone Mr. Muhammad Dawood Nasir Zonal Head Phone: 042-9211711, 9211642 State Life Square, 4-Lytton Road, Lahore. email:zhlweszn@statelife.com.pk Sargodha Zone Gujranwala Zone Ch. Sarfaraz Ahmed Zonal Head Phone: 0431-9200285, 9200282 Din Plaza, G.T Road Gujranwala. email:zhgujwazn@statelife.com.pk Sialkot Zone

Mr. Tahir Mehmood Cheema Zonal Mr Zulfiqar A. Gilani Head Zonal Head

Phone: 041-9200390, 9200636 State Life Bldg # 2 Liaquat Road Faisalabad. email:zhfsdzn@statelife.com.pk

Phone: 0451-9230311,9230319 Phone: 0432-9250111 40 Civil Lines Green Plaza , College Paris Road, Road Sargodha. Sialkot. email:zhsgdzzn@statelife.com.pk email:zhslktzn@statelife.com.pk

NORTH REGION Mr. Maqsood Ahmed Chaudhry Regional Chief Phone: 051-9204935, 051-9205047 State Life Building # 9, Bulund Markaz Plaza, 33-E, 4th Floor Blue Area, Islamabad. email: rcnorth@statelife.com.pk ZONES IN NORTH REGION Peshawar Zone Ch. M. Ejaz Zonal Head Phone: 091-9212312 State Life Bldg, 34 The Mall, Peshawar. email:zhpshzn@statelife.com.pk Gujrat Zone Ch. Abdul Nasir Zonal Head Phone: 0433-9260242 State Life Bldg, 5th Floor. G.T. Road , Gujrat, email:zhgjrtzn@statelife.com.pk Rawalpindi Zone Mr. Azhar Hussain Zonal Head Phone: 051-9271352 , 051-9271351 State Life Bldg # 1, The Mall, Rawalpindi. email:zhrwpzn@statelife.com.pk Islamabad Zone Mr. Khalid Mansoor Zonal Head Phone: 051-9204749 , 051-9205329 State Life Bldg # 9 Bulund Markaz Plaza 33-E, Blue Area Islamabad. email:zhisbdzn@statelife.com.pk Abbottabad Zone Mr. Abdul Sattar Jawaid Zonal Head Phone: 0992-380924 Farooqabad Plaza Mansehra Road Abbottabad. email:zhabtzn@statelife.com.pk Mirpur (AK) Zone Mr. M. Yosuf Farooqi Zonal Head Phone: 058610-33247 Chohan Plaza 36, Sector C-1 Mirpur (AK). email:zhmprakzn@statelife.com.pk

Swat Zone Mr. Namaish Khan Zonal Head Phone: 0936-9240060 Dean Plaza, Opp. Central Hospital P.O. Box # 4 Saidu Sharif, Swat. email:zhswtzn@statelife.com.pk

Network of Group & Pension business

Group & Pension Rawalpindi Zone Group & Pension Peshawar Zone Group & Pension Karachi Zone Group & Pension Lahore Zone

Group & Pension Rawalpindi Zone

Tel: #. Mr. M. A.A. Kazmi Zonal Head State Life Building No. 8, Kashmir Road, Rawalpindi 051-9272598 Cell #. 0300-8501483

Sector Heads Mr. Ahsan Baig Mr. Nadeem Zafar Mr. A. A. Kazmi Mr. Aadil Waseem Rana 051-9270309 051-9272566 051-5563284 051-9272542 0321-5305684 0323-5069339 0345-8522295 0333-5102710

Group & Pension Peshawar Zone

Mr. Tahir Majeed Zonal Head 34-The Mall, Peshawar 091-9211596 0300-8595670

Sector Heads Mr. Tajamul Hussain Khattak 091-277784 0333-9134496

Group & Pension Karachi Zone

Mr. Sultan Masood Naqi Zonal Head State Life Building No. 2, Wallace Road,Off: I.I. Chundrigar Road, Karachi 021-9217060 021-9217097

Sector Heads Mr. S. M. Abbas Rizvi Mr. Adnan samiullah Mr. Aijaz Hussain soomro Mr. Aijaz yousuf Soomro 021-9217098 021-9217058 021-9217062 021-9217174

Group & Pension Lahore Zone

Mr. Shoaib Khan Zonal Head, L. G. Floor, State Life Building, 15-A, Davis Road, Lahore 042-9200235 072-9200358 0300-8631164

Sector Heads Mr. Zakir Furqan Pirzada Mr. Shahid Khokhar 042-9200364 042-9200370 0300-4426850 0300-8412336

Life Insurance Business (Gulf)

Mr. Khalid Mehmood Shahid (Zonal Chief Gulf) 503-Shekh Saud Bin Sagar Al Qasim Building (opp Toys R Us) Salah-ud-Din Road P.O. Box No 11278 Tel: 971-4-2729061, 2729071, Fax 971-4-2729051

DIVISIONS/DEPARTMENTS-: -Internal Audit & Evaluation -Investment -Personnel & General Services -Real Estate -Policy Holder Services -Marketing (Individual Life) -Sales -Budget & Accounts -Law Division -Groups & Pension -Computer/IT -Chief Medical Adviser -International Business / Board Secretary

Name
Mr. Sher Ali Khan

Desig nation
GM

Division / Dept
Internal Audit & Evaluation

E-mail Address
dhiae@super.net.pk

Direct/ Ext
9202871-3307

Mr. Ansar Hussain

GM

Investment

dhinv@super.net.pk

9202833-3321

Mr. Sohail Hashmi Mr. M. Talib Ali Mr. M. Aslam Sabir Mr. M. Javed Khan Mr. Khizar Hayat Aamir Mr. Latif A. Chaudry Mr. Nadeem Bessey Mr. Saleem Khaliq Dr. Mrs. Ghazala Nafees Mr. Akhbar Ali Hussain

GM GM GM GM GM DGM DGM GM DGM DGM

Personnel & General Services Real Estate Policy Holder Services

dhpgs@super.net.pk dhre@super.net.pk dhphs@super.net.pk

9204591-3307 9202873-3304 9202838-3230 9202851-3365 9202863-3300 9202867-3373 9202890-3274 9204590-3292 9202821-3349 9202891-3319

Sales/Marketing (Individual Life) dhsd@super.net.pk Budget & Accounts Law Division Groups & Pension Computer Chief Medical Adviser International Business / Board Secretary dhba@super.net.pk dhlaw@super.net.pk dhgp@super.net.pk dhcomp@super.net.pk cma@super.net.pk dhint@super.net.pk

Functions of Sales Division-:

This division consists of Insurance a sales team and sales agents who work as exclusive agents, or captive agents, selling insurance for State Life through regular contact with clients, sales team and agents are able to update coverage, assist with claims, ensure customer satisfaction, and obtain referrals. Insurance sales team or agents usually sell many types of insurance which state life has to offer which includes Whole Life Assurance Jeevan Sathi Assurance, Child Protection Assurance, Nigehban Plan etc. Many sales agents are involved in "cross-selling" or "total account development," which means that, besides offering insurance, they have become licensed to sell mutual funds, annuities, and other securities. These agents of state life usually find their own customers and ensure that the policies of state life insurance which are sold meet the specific needs of their policyholders. They work under the supervision of the Sales Manager who assists the sales team which at times undoubtedly run into situations where they require assistance..The sales manager has to make the time to review sales files with each team member, provide guidance on how to identify a sales opportunity given a particular prospect's financial and personal information, and go on a sales call with him to review his sales techniques. This allows the sales manager to offer guidance and coaching to the sales team members so that eventually they become more productive on their own..The sales manager usually responsible for setting goals for a sales-force, planning, budgeting, and organizing a program to achieve those goals,implementing the program,and controlling , evaluating the results. Even when a sales force is already in place, the sales manager will likely view these responsibilities as an ongoing process necessary to adapt to both internal and external changes. Monitoring Sales Results the success will be measured by sales results. Therefore the sales dept is constantly monitored by the sales manager in order to identify positive or negative trends. The manager u sually analyze sales results for clues to the recruiting and training efforts are effective, or whether team members who do not meet the quotas need special attention or perhaps to be fired. The insurance team leader's has to deal with a

lot of tact and patience, but also a certain ruthlessness in the name of the bottom line.