state life insurance corporation.pptx

8/16/2019 State Life Insurance Corporation.pptx

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STATE LIFE INSURANCE

CORPORATION


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Aamir Hussain 56

Ali Asad 20

Ansar Ahmed 22

Umair Ahmed 04

Group members


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MISSION

“To remain the leading insurer in the country by extending the

insurance to all sections of society and meeting our commitmepolicy holders and the nation”.

OBJECTIVES:

o To run life insurance business on sound line.

o To provide more efficient service to the policyholders.

o To make life insurance a more effective means of mobilizing

savings.

o To use the policyholders fund in the wider interest of the comm


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MARKETING STRATEGIES

o SL! have large marketing team they are "ell trained

market managers# sales managers and through trainers.

o $embers of this team "orks in group and as "ell as ind

o %urpose of this team is to capture the maximum custom

market.o They convince their customers for policy through the

and communication skills.


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MARKETING STRATEGIES

o Team members sells the policies through perso

or through direct marketing.

o They also capture their target customers# speci

businessmen.

o &ifferent kinds of plans are offered by state life

to need of their customers "hich helps market

to convince the peoples to purchase their policy.


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IndividualLife

Plans


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CHILD EDUCATION & MARRIAGE PLAN

Eligible ages:-

$inimum 'ge( )* years

$aximum 'ge( +* years

'ge ,$aximum- on $aturity( * years

o %lan for the protection of child/s future.

o ' lump sum benefit for the child at the

completion of policy terms.

o Suited for the parents "ho are conscious about

the future of their children.


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JEEVAN SATHI ASSURANCEEligible ages:-

$inimum 'ge ,01uivalent-( )* years

$aximum 'ge( 2* years

o 3oint life plan and covers lives of husband and "ife.

o The benefit is that the T"o persons are insured in one

policy.

o 4n the death of the first life# the sum insured "ill be paid

to the survivor.

o 4n death of the second life# again the sum insured "ill

be paid together "ith the attaching bonuses.


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CHILD PROTECTION ASSURANCE

o ' 5oint life assurance and covers the lives of child

and either of the parents.

o f the policyholder and the child both survive full term of

the policy# sum insured and accrued bonuses become

payable.

o f the policyholder dies before completion of term of

the policy the payment of premiums ceases.

o f the child dies before maturity of the policy the death

claim payable to the policyholder.


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ENDOWMENT ASSURANCE

o t/s a safest and surest method of guaranteed cash

provision either at a specified time or at death.

o The sum insured plus bonuses are payable at the end

of the specified number of years or at death of the

life insured if earlier.

o t serves the retirement of the family in various

shapes by the "ay of financial help at retirement#

education of child #capital for business .


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Group Life &Pension

Plans


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TERM INSURANCE SCHEME

o t provides life insurance coverage to the member of a gr

the employees of an employer.o The amount of coverage of each member is determined "

to either his designation or salary or employment category.

o 4n death of any insured member the sum assured on his l

the benefit of his surviving family.

o f in any three6year period State Life earns a net profit on

then some share in the profit is passed on to the policyhold


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PROVIDENT UND INSURANCE SCHEME

o %rovides life insurance coverage to the members of the p

scheme of an employer.

o The plan is suitable for any employer "ho appreciates th

providing the maximum possible insurance coverage to his

o n case of death of any member his family is paid a lump

e1ual to the amount of his fund balance on the date

multiplied by a factor depending upon the age of the

death.


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GRPOUP PENSION SCHEME

o t is a re"ard to the employee# granted today# "hile money

received on retirement.

o %ension Scheme is the only method through "hich regular i

accrues to an employee after retirement.

o 'll pensions are completely tax6free.

o 7etirement comes as planned and not abruptly as a shock.


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GROUP ENDOWMENT INSURANCE SCHEME

o n "hich the employees of an employer can en5oy insurance

o Get a lump sum cash amount upon their retirement if they

retirement.

o f the member needs immediate li1uidity and a policy ha

Surrender 8alue in respect of member# he9she can avail a

loan of :*; of the net surrender value of the policy.

o f an employee leaves the service of the employer# he can

policy against the


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STRENGTH

o As SLIC is Government organization, Governme

people rely on its stability and Goodwill.o Main focus on Life Insurance! and "ave more t"

mar&et s"are.

o G'() institutions are insured wit" SLIC, suc" as

ailway etc.

o )"ese t"ings ma&e monopoly of SLIC in mar&et.


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WEEKNESS

o !laims payment is complicated and a long proce

o $anually operate its activities and outdated T sy

o SL! offers only Life insurance not the general in

o


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OPPORTUNITIES

o 's "ith life insurance there>s opportunity for State life t

General insurance as "ell.o SL! should compare itself at nternational level and sho

opportunities for overseas ,%akistanis- as "ell.

o nnovations in their present product# like they decrease

duration of policy.

o mplement of modern T system "hich "ould be complete


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THREATS

o $any organization are coming to insurance business# so t

tuff competition for SL! to face in future.o 7ecession in economy can effect its performance by incre

surrender rate of policy by policy holder.

o %akistan is under severe catastrophic and in last fe" years

organizations and are target of these attacks. t co

cause damage to SL! but it can also increase clai

these catastrophic attacks.


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RECOMMENDATIONS:

o ?etter training courses should be arranged for the up lift

improving the 1uality of "ork of employees.o There is also a problem of "ork overload for the employ

should be control properly so that the employees are moti

o T dra" backs should be improved.

o Should implement ne" market strategies to capture the

customers in the market.

state life insurance corporation.pptx

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