Life insurance is a great way to help protect your family from the financial worries they could face if you were no longer around. It could help with household bills, child-care costs or covering mortgage payments.
So what is life insurance? In a nutshell, life insurance is a contract between you and an insurer. It could pay out a cash sum if you die during the length of the policy.
The Life Insurance Business in Pakistan was nationalized during March 1972. Initially Life Insurance business of 32 Insurance Companies was merged and placed under three Beema Units named “A”, “B” and “C” Beema Units. However, later these Beema Units were merged and effective November 1, 1972 the Management of the Life Insurance Business was consolidated and entrusted to the State Life Insurance Corporation of Pakistan.