Group Term Insurance Policy 2026-2027 for Employees of Pakistan National Shipping Corporation

The Pakistan National Shipping Corporation (PNSC) Insurance & Claims Department in Karachi is procuring a Group Term Insurance Policy for the financial year 2026-2027. This procurement covers comprehensive group life insurance services for 292 employees across various categories and age groups, including benefits such as Group Life & Terminal Illness, Accidental Death Benefit, Permanent Partial and Total Disability (both accident and sickness), Temporary Disability, Monthly Income Benefit, and Pay Continuation Benefit. The insurer must be a licensed insurance company with a minimum of five years' experience providing similar services to government or private sector organizations in Pakistan. The bidder must be registered with FBR, enlisted on the Active Taxpayers List, and hold a minimum A+ credit rating by IFRS/PACRA/JCR-VIS. Bids submitted by agents or brokers will not be considered. The contract requires a performance guarantee of 5% of the contract price and adherence to all applicable laws and regulations. Bidders must submit their technical and financial bids through the EPADS v2.0 system by the submission deadline of Thursday, May 14, 2026 at 11:00 AM. Manual submissions are not accepted. The technical bid will be evaluated on a 100-mark scale with a passing score of 100, and the contract will be awarded using Least Cost Based Selection (LCBS) methodology. The submission address for the original bid security is the Insurance & Claims Department, 12th Floor, PNSC Building, M.T Khan Road, Karachi. Bidders are advised to carefully review the bidding documents, ensure timely submission, and provide all required documentation including a power of attorney and affidavit of non-blacklisting. A practical tip for bidders is to register early on EPADS v2.0 and familiarize themselves with the e-bidding process to avoid last-minute technical issues. This tender represents a significant opportunity to provide essential insurance services to a major federal corporation with a contract period of one year starting July 1, 2026.