Provision of Group Life Insurance Services for Staff House Loan Scheme

Sindh Bank Limited Karachi invites qualified firms for the provision of Group Life Insurance Services under its Staff House Loan Scheme. This tender covers insurance coverage for 398 employees with a total loan sum insured of PKR 2,483,059,477. Employees up to 65 years of age are eligible, with a free cover limit of PKR 15,000,000 without underwriting or medical requirements. The policy will be extended or renewed for two years on mutual terms. The scope includes additions and deletions of employees during the policy period at the same financial rates. The insurance service requires comprehensive coverage including death benefits, accidental disability, and permanent natural disability benefits. The contract will be managed from Sindh Bank's Head Office in Clifton, Karachi. Bidders must be registered with relevant tax authorities and comply with all legal and financial requirements. The evaluation criteria emphasize company experience, financial strength, clientele, and technical capacity, with a minimum 70% score required to qualify. Bidders should ensure compliance with PEC categories and maintain valid FBR/ATL status for the financial year 2025-26. The bid security is 5% of the estimated cost, and the successful bidder must provide a performance guarantee of 5% of the contract price. The contract includes an integrity pact and requires strict adherence to the Sindh Procurement Rules 2010. Submission deadline is on the 20th of January 2026 at 11:00 AM, with bid opening at 11:30 AM at Sindh Bank Ltd Head Office, Federation House, Abdullah Shah Ghazi Road, Clifton, Karachi. Bids must be submitted online via the EPADS portal. Original bid security instruments must be delivered physically before the deadline. Pro-Tip: Carefully review the financial bid for compliance with stamp duty and tax inclusions as per the Stamp Act 1989. Missing these details or improper documentation can lead to disqualification. Also, ensure timely submission on the EPADS portal to avoid rejection due to technical glitches.