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Description / Scope of Work
The Pakistan National Shipping Corporation in Karachi, Sindh invites sealed electronic bids for the procurement of a comprehensive Group Term Insurance Policy for the period of 2026-2027. This tender aims to provide insurance coverage for approximately 292 employees across various professional categories ranging from executive management to staff grades. The scope of the policy includes essential benefits such as group life insurance, terminal illness coverage, accidental death benefits, and provisions for both permanent total and partial disability caused by accident or sickness. Additionally, the policy includes a monthly income benefit and a pay continuation benefit for one year. To be eligible, participating insurance companies must be licensed to underwrite group term insurance in their own name and possess at least five years of professional experience working with government or large private sector organizations. Bidders must also maintain a minimum A plus credit rating. All proposals must be submitted electronically through the e-Pak Acquisition and Disposal System EPADS by the deadline of 11:00 AM on 14 May 2026. A bid security of 80,000 Rupees is required as part of the submission process.