Group Life Insurance Coverage and Family Takaful for Employees of Securities and Exchange Commission of Pakistan

The Securities and Exchange Commission of Pakistan (SECP) is procuring Group Life Insurance Coverage and Family Takaful services for its employees across multiple cities including Islamabad, Karachi, Lahore, Peshawar, Quetta, Multan, Faisalabad, Sukkur, and Gilgit. This procurement is for a period of three years starting from July 1, 2026, with the possibility of early termination if performance is unsatisfactory. The scope includes providing life, accidental death, accidental partial and total disability, and natural disability benefits with a benefit structure based on 18 months gross salary, doubling in case of accidental death, and minimum coverage amounts specified for different employee grades. The insurance company must have requisite experience, financial standing, and be registered with FBR and on the Active Taxpayers List. Bidders must submit bids through the EPADS system by 11:00 a.m. on May 14, 2026, with bid security of PKR 350,000. The technical bid must include detailed company information, client references, financial statements, and benefit details. The contract will be awarded to the most advantageous bidder based on net expected premium cost. The successful bidder will sign a legal agreement with SECP and provide a performance guarantee of 10% of the contract price. Bidders are advised to carefully prepare their bids in accordance with the detailed requirements and ensure timely submission through EPADS. Manual bids will not be accepted. A practical tip for bidders is to ensure all required documents including bid security originals are submitted before the deadline to avoid disqualification. Contact for clarifications is procurement.info@secp.gov.pk. The submission deadline and bid opening are strictly enforced, so early preparation is recommended.