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Tender notice for Health & Life Insurance

SPO invites sealed bids from well reputed companies for provision of COMPREHENSIVE GROUP LIFE INSURANCE coverage to SPO’s 211 Lives and GROUP HEALTH INSURANCE coverage for 701 Lives. Group Life Insurance and Group Health Insurance will be effective from July 01, 2016 to June 30, 2017. SPO has the right to accept or reject any or all bids without assigning any reason thereof. Last date for submission of bids is May 29, 2016 on or before 1700 hrs.

Please submit sealed proposals as per following details:

Health Insurance requirements:

Major Medical
1.  Major Medical coverage required limit upto Rs 300,000/- per insured (Valid for employees, spouses, children and parents.

  • Maximum age coverage for employees and spouse is 65 years, 85 years for parents and 25 years for un-married male children and till marriage for daughter.

Maternity Benefit
2. Valid for all female married staff members and spouses for maternity benefits up to the age of 45 years.

  • Valid for all female married staff members and spouses for maternity benefits up to the age of 45 years.
  • Maternity limit for Normal delivery:    Rs. 40,000/-
  • Maternity limit for C- Section        Rs. 60,000/-
  • Pre and post natal expenses  up to Rs. 2,000/-
  • Circumcisions to be covered in maternity limit.

Hospitalization
3.  Hospitalization coverage of Rs. 80,000/- per insured is valid for employees, spouses, children and parents.

  • Maximum age coverage for employees and spouse is 65 years, 85 years for parents, 25 years for un-married male children and till marriage for daughter.
  • Room Limit per day is Rs. 6,000/-
  • Pre and post hospitalization expenses for 30 days are to be covered.
  • Chronic Hepatitis B and C, Intra-ocular lens implant (IOL) are to be covered.
  • All declared/undeclared pre-existing conditions are fully covered.
  • Specialized investigations are to be covered.
  • 50% enhancement of hospitalization limit in case of on accidents.

 

Life Insurance requirements:

1.    No of Lives 211
2.    Age Limit 65 years
3.    Sum Assured 36 times Basic Salary or Min Rs. 1,000,000/- whichever is higher.
4.    Temporary Total Disability 100% of monthly salary upto Maximum of Rs. 20,000/- pm
5.    Accidental Death Benefit 72 times Basic Salary or Min Rs. 2,000,000/- whichever is higher upto maximum 25,000,000/-
6.    Natural Disability Benefit  
7.    Permanent Partial and Permanent Total Disability Benefits;  
8.    Accidental disability benefits  

 

Note:
Please call on the below mentioned number to be provided with a list of staff and dependants.

Bids should be addressed to, Procurement Committee

Strengthening Participatory Organization,
1st Floor, Plot No. 05-C, Bazaar No. 06, Street No. 159,
Sector G-13/3, Islamabad.
Phone: 051 -2301221-2; 2301226-7 EXT: 137


GERERAL TERMS & CONDITIONS

  1. Vendor/Supplier should be registered with the Government of Pakistan.
  2. 5% of refundable earnest money shall be submitted along with the quotation.
  3. A vendor/supplier can apply for one or more tenders.
  4. The bid should show amount of all applicable taxes.
  5. The Vendor shall provide an invoice in accordance with the issued purchase order along with delivery challan (if required) signed by the individual receiving the items.
  6. The vendor(s) will issue a numbered receipt when they receive the payment/installment. If the numbered receipt is not available, a receipt on his/her letterhead, acknowledging the payment will be obtained.
  7. Earnest money to be released upon successful completion of contract.
  8. The general conditions should be read together with the technical specifications.
  9. In case of dispute between the parties, the same shall be referred for arbitration under Pakistani law, and the award in such arbitration shall be final and binding.
  10. The bidder(s) can also mention any specific condition, which shall be taken into consideration before the award of supply orders.
  11. Validation of quotation should be mentioned.
  12. If any bidder need clarification on any technical specifications or general conditions, he/she must do so in writing .The clarification, if any, shall be issued to all bidders.
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