Health Insurance Takaful Policy for Employees and Dependents of Sukkur IBA University

This tender invites bids for the provision of a Health Insurance Takaful Policy covering employees and their dependents of Sukkur IBA University, located in Sukkur, Sindh. The contract is preferably for two years starting September 1, 2026, with an option to extend for an additional two years. The policy includes comprehensive coverage for hospitalization, major medical care, maternity benefits, and outpatient procedures across three employee categories based on grade. Coverage limits range from Rs 900,000 to Rs 1.5 million per family, with detailed provisions for room charges, ICU, diagnostic tests, and specialized investigations. The scope requires experienced Takaful Health Insurance providers with a minimum of three years in the field, a strong client base, and a robust network of panel hospitals. The insurer must ensure timely issuance of health cards, claims processing within 15 days, and 24/7 medical call center support. The contract demands adherence to strict evaluation criteria including PACRA/JCR-VIS credit rating of A+ or above, financial stability, and compliance with tax and legal requirements. The policy also covers pre-existing conditions and offers optional maternity benefits with specified limits. Bidders must be registered with SECP, listed on FBR and SRB active taxpayer lists, and provide notarized affidavits confirming no blacklisting or legal penalties. The contract requires submission of a bid security of Rs 1.2 million and performance guarantee of 2% of contract value. The contract will be awarded to the most advantageous technically qualified bidder, with financial bids opened only for those meeting minimum technical scores. Submission deadline is by the evening of the 7th of July, 2024, with technical bids opened within one hour after closing. Bids must be submitted in sealed envelopes to the Additional Director Procurement office at Sukkur IBA University. The university reserves the right to reject any or all bids as per SPPRA rules. Pro-Tip: Ensure all bid documents are complete, signed, and stamped on every page. Pay special attention to the bid security format and validity period to avoid disqualification. Also, regularly check the Sukkur IBA University tender webpage for any clarifications or addenda before submission.