Group Life Insurance Coverage for SECP Employees Availing House Loan Facility

This tender invites bids for Group Life Insurance Coverage for employees of the Securities and Exchange Commission of Pakistan (SECP) who are availing house loan facilities. Located in Islamabad, the SECP requires insurance services covering life, accidental death, accidental partial and total disability, and natural disability benefits. The insurance premium will be calculated on the decreasing balance of the outstanding loan amount and paid annually. The scope includes coordination for claim processing and confidentiality of employee data. The insurance coverage is to be provided for SECP employees working across multiple cities including Islamabad, Lahore, Peshawar, Multan, Faisalabad, Sukkur, Karachi, Gilgit, and Quetta. The contract period is three years starting March 1, 2026, with the possibility of early termination if performance is unsatisfactory. The insurance provider must have the requisite experience and financial stability, supported by audited financial statements and tax registrations. The premium rates and free cover limits up to PKR 7 million must be explicitly stated in the bid. Bidders should ensure compliance with PEC category requirements and maintain active tax status with the Federal Board of Revenue (FBR) and be on the Active Taxpayers List (ATL) for FY 2025-26. The bid security of PKR 100,000 must be submitted in the form of a pay order or demand draft. The procurement follows the Public Procurement Rules, 2004, and the contract will require a 10% performance guarantee. The submission deadline is on February 10, 2026, at 14:30 hours, with bid opening at 15:00 hours on the same day. Bids must be submitted exclusively through the EPADS online portal, with the original bid security delivered physically to the SECP office at NICL Building, 63 Jinnah Avenue, Blue Area, Islamabad. Pro-Tip: Ensure your bid includes all required documentation such as audited financials, tax certificates, and a clear breakdown of premium rates. Missing or incomplete information is a common cause for disqualification. Also, verify your bid security validity and submission method to avoid rejection.