The University of Malakand intends to provide financial coverage/assistance to all its employees/families of employees on in-service or accidental death, disabilities caused by Accidental/Natural incident and to the employees on their retirements.
The University of Malakand invites proposals (single stage two envelops) of financial benefits from well-reputed interested Insurance/Takaful firms for the following two plans:
- 1) Group Life coverage of Rs.1, 200,000/- to regular employees of the University along with associated benefits
- 2) Group Life Cum Salary Saving Plan of Rs. 1,200,000 along with retirement benefits to regular employees of the University
(The University will select one among the above)
In case of selection of Group Life cum Salary Saving Plan, risk coverage of Rs 1,200,000 with maturity sum cover to be paid to employees on the event of their retirement age or up to 63 years of age whichever is earlier with contribution deduction of Rs.1,000/- per month from the salaries of all UoM regular’s employees.
Scope of Work
The aim of the Tender is for participating insurance/takaful companies with the necessary information to allow the Company/firm to prepare a comprehensive Proposal regarding Group Life Insurance/Takaful and Group Life cum salary saving plan (risk coverage with Retirement scheme). The Insurance/takaful Company is expected to examine carefully all requirements stipulated in this document and respond to each requirement individually along with copy of audited financial statements of last year. Complete proposals should reach to the Directorate of Finance, University of Malakand on or before 18th October, 2019 and will be opened on the same day at 11:00 (AM).
The documents can be obtained free of cost from the Directorate of Finance, University of Malakand and the websites of University (www.uom.edu.pk) and KPPRA (www.kppra.org.pk)
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