Group Life Insurance Coverage for Overseas Pakistanis Foundation Employees

This tender invites qualified Insurance/Takaful companies with a minimum A+ rating to provide Group Life Insurance coverage for employees of the Overseas Pakistanis Foundation in Islamabad. The department seeks a reliable insurance provider to ensure comprehensive life coverage, reflecting the organization's commitment to employee welfare and security. The scope involves selecting an insurance company that meets strict criteria including valid Sales Tax and Income Tax registrations, a decade of experience in Group Life Insurance, and a credit rating of A+ from PACRA or JCR-VIS. The process follows PPRA rules 2004, emphasizing cost-effectiveness and quality. Bidders must submit separate Technical and Financial bids in sealed envelopes, ensuring transparency and compliance. Interested firms should note the importance of PEC registration and FBR ATL status for eligibility. For the financial year 2025-26, maintaining these credentials is crucial to avoid disqualification. The tender fee is Rs. 3,000, payable via cash or pay order to the Overseas Pakistanis Foundation. This ensures only serious bidders participate, maintaining the integrity of the procurement. The submission deadline is set for 13th April 2026 by 11:00 am, with technical bids opening at 11:30 am the same day. Bids must be delivered to the Chief Financial Officer at the Overseas Pakistanis Foundation office, Shahrah-e-Jumhuriat, G-5/2 Islamabad. Timely submission is critical to avoid rejection. Pro-Tip: Ensure your Technical Bid includes all documentary evidence of your company’s rating and tax registrations. Missing documents often lead to disqualification. Also, double-check the tender fee payment method and keep the receipt safe for submission.