This tender invites bids from reputable health insurance companies for the provision of a comprehensive Health Insurance Takaful Policy covering employees and their dependents of the Sindh Institute of Physical Medicine & Rehabilitation (SIPM&R) in Karachi. The policy includes inpatient treatment, day care, maternity, and outpatient care with coverage limits varying by category. The contract is initially for one year with possible extension for two additional years based on performance and mutual agreement. The scope covers approximately 1,063 lives across employees, spouses, children, and parents with detailed premium rates and benefits outlined. The policy requires bidders to have a strong presence in Karachi, valid registrations, and proven experience providing health insurance to large groups. The evaluation criteria include financial strength, number of panel hospitals, full-time doctors, and PACRA/JCR-VIS ratings. The contract demands strict compliance with SPPRA rules and includes provisions for bid security, performance security, and penalties for non-compliance. The procurement process is conducted electronically via EPADS with a submission deadline of 20th January 2026 at 11:30 am. Bidders must ensure valid PEC category compliance, active taxpayer status on FBR, and adherence to the 2025-26 fiscal requirements. The bid security is Rs. 10,000 non-refundable, and performance security is 5% of the contract value. The contract will be awarded to the most advantageous bidder following technical and financial evaluation. All bids must be valid for 90 days and include all applicable taxes. Submission must be through the EPADS online portal with original tender fee and bid security instruments delivered physically to the Procurement Department at SIPM&R, Karachi. The bid opening will occur on the same day at specified times. The physical address for submission and inquiries is Procurement Department, 2nd Floor, Block – A, Sindh Institute of Physical Medicine & Rehabilitation, opposite SIUT, Near Mujahid Masjid, Chand Bibi Road, Karachi. Contact phone is +92 21 9921 6210 and email procurement@sipmr.edu.pk. Pro-Tip: Ensure to carefully prepare the bid with all mandatory documents indexed and attached as per the tender instructions. Pay special attention to the bid security submission and the technical evaluation criteria to avoid disqualification. Also, verify the active taxpayer status on FBR and SRB before submission to meet eligibility requirements.