State Life Insurance Corporation of Pakistan:
State Life Insurance Corporation of Pakistan is one of the largest life insurance corporations in Pakistan, with close to 50 million policy holders. Like any large corporation, they have both good points and bad points, as well as some ugly ones. Here are some of the biggest pros and cons of State Life Insurance Corporation of Pakistan policyholders should consider before buying a State Life Insurance Corporation of Pakistan policy.
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| State Life Insurance Corporation of Pakistan |
Introduction
In 1956, State Life Insurance Corporation (SLIC) was established by the Provincial Government of Sindh with a capital of Rs.1 million as a result of the merger between two life insurance companies, namely, 'Pakistan General Mutual Benefit Association' and 'Sindh General Mutual Benefit Association'. In 2007-2008 SLIC made its first acquisition in Khyber Pakhtunkhwa through acquiring 50% stake in Khyber Pakhtunkhwa General Mutual Benefit Association.
In 2009 SLIC acquired HBL LIFE INSURANCE COMPANY LIMITED which was previously known as HSBC Life Insurance Company Limited (HBL) in Karachi. This acquisition gave SLIC access to HBL's customers as well as its distribution channels across Pakistan.
What is State Life Insurance Corporation of Pakistan?
The State Life Insurance Corporation of Pakistan is a state-owned enterprise that provides life insurance to Pakistani citizens. They are headquartered in Islamabad with regional offices in Karachi and Lahore.
The company was established in 1956 as part of an effort to help increase access to affordable insurance policies for Pakistani citizens.
There are a number of benefits associated with being insured through this company including travel assistance, accidental death insurance, life protection cover and cancer cover. You can also opt for additional coverage such as personal accident cover or unemployment cover.
Along with these benefits there are some drawbacks to State Life Insurance Corporation's policies such as high premiums for policyholders with pre-existing medical conditions.
The Good
To start off with, State Life Insurance is one of the largest insurance companies in Pakistan. It has over 500 branches all over the country and employs more than 4500 people. They offer a wide range of products that are designed to provide a variety of solutions to individuals and families. They have an excellent customer care service that is available 24/7 so that you can get help at any time. State life also provides a mobile app for their customers which makes it easier for you to track your policies as well as make payments online without having to go into a branch. The app also helps you keep up with your policies by reminding you when your policy needs to be updated or renewed.
The Bad
The State Life Insurance Corporation of Pakistan (SLICP) is a life insurance company based in Karachi, Sindh, which was founded in 1979. It has more than 350 branches across all provinces of the country. It's a state-owned corporation with an authorized capital stock worth PKR 4 billion. SLICP offers life insurance products to individuals and businesses. But let's take a look at some of the bad points first. In 2011, it was found that SLICP had written policies without carrying out medical examinations or without collecting any premiums from customers - meaning they were taking people's money but not providing them with anything in return!
The Ugly
The state life insurance corporation of pakistan (SLICOP) is a government-owned corporation that has been in operation for over 50 years. It offers life insurance as well as investments. Its policies are guaranteed by the state's treasury and can be issued at any SLICOP branch office. SLICOP is currently valued at Rs. 8 billion in total assets with a net worth of Rs. 2 billion, which is almost twice what it was just five years ago.
Conclusion
The State Life Insurance Corporation of Pakistan is an insurance company that has been around since 1956. It offers products such as life insurance, funeral cover and other types of insurance. There are both good points to this company as well as bad points. First off, their prices are not too expensive for life insurance which can be a lifesaver if you have children or other dependents that rely on you. Second, they have some cool features like an easy-to-use website and mobile app which make it easier to buy policies on the go and whenever you're free! Lastly, they have done a lot for their customers in terms of customer care which is very important for any company but especially one dealing with money issues. However, there are some negative aspects about this company as well.
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