Services of Health and Life Insurance Policies at NIBAF-Pakistan

The National Institute of Banking and Finance Pakistan (Facility Management Division) in Islamabad is procuring comprehensive Services of Health and Life Insurance Policies for the fiscal year 2026-27. This procurement is planned under tender reference P72724 and invites bids through the e-Pak Acquisition and Disposal System (EPADS) v2.0. The contract is for a yearly period starting August 31, 2026, with possible extension up to two years subject to mutual consent and satisfactory performance. Items being procured: - Service of Health and Life Insurance Policies covering 203 persons The health insurance coverage includes hospitalization benefits with annual limits ranging from PKR 300,000 to 700,000 depending on category, maternity benefits benchmarked against AKUH rates, outpatient reimbursement benefits with limits from PKR 30,000 to 50,000, and coverage of specialized investigations and day care procedures. Life insurance benefits include group life coverage with limits from PKR 800,000 to 2,000,000 per annum, covering death benefits, permanent total and partial disablement, and other injury-related compensations. The insurer is responsible for providing seamless medical support across Pakistan, maintaining confidentiality, timely issuance of health cards, and coordination with NIBAF officials. The insurer must have a minimum of 10 doctors on payroll for case management and an in-house approval center operating 24/7. Eligibility criteria require bidders to have a valid business license for health and life insurance services, a credit rating of at least AA++ by PACRA or VIS for the last three years, active membership in the Insurance Association of Pakistan, and at least 10 years of experience with contracts of minimum PKR 10 million annually. The bidder must have a head or regional office in Karachi and must not be blacklisted or debarred. FBR registration and active taxpayer status are mandatory. The technical evaluation is based on years of experience, number of panel hospitals, corporate clients, medical doctors on payroll, and in-house approval center availability. The financial evaluation uses a Quality and Cost Based Selection (QCBS) technique with 40% weightage to technical and 60% to financial scores. Bids must be submitted online via EPADS v2.0 by **Wednesday, August 12, 2026, 11:00 AM**. Manual submissions are not accepted. Bid security of PKR 200,000 is required. The bid opening will be on the same day at 11:30 AM on EPADS. The contract requires a 5% performance guarantee. A practical tip for bidders: Ensure your EPADS registration is complete well before the deadline and upload all required documents including technical and financial specifications to avoid disqualification. Pay close attention to the bid security submission process, as failure to submit the original bid security before the deadline will lead to disqualification. This tender offers a significant opportunity for insurance companies with strong technical capabilities and financial stability to provide essential health and life insurance services to a reputable federal institution in Islamabad.