ISLAMABAD: The government has raised the sum of insurance for an emigrant from Rs 0.3 million to Rs one million as the Bureau of Emigration and Overseas Employment (BEOE) and State Life Insurance Corporation of Pakistan (SLICP) signed a revised contract, to be effective from January 1, 2011. According to a letter sent to Pakistan Overseas Employment Promoters Association (POEPA) and other concerned departments, BEOE has informed that after detailed discussions with the stakeholders, Emigrants Group Insurance Contract (EGIC) has been revised. According to an official source, under the revised agreement between BEOE and SLICP, the sum insured for the beneficiary will be rupees one million instead of Rs 300,000 on account of death and complete disability and one time premium shall be Rs 2000 instead of Rs 650 per emigrant.
According to the revised contract which was signed on December 9, the members shall remain covered under the scheme for a period of two years, starting from the date the insurance certificate becomes effective and valid on payment of premium. Further renewal for a period of two years will remain an option for the emigrant on payment of the prescribed premium and on producing documentary evidence for extension in the service contract in the country. The coverage shall however, terminate on the age of 60 years with no further extension, the agreement said.
BEOE has asked all concerned departments and regional offices of Bureau of Emigration and Overseas Employment to implement the contract in letter and spirit with effect from January 1, 2011.
