MURREE, April 22 Keeping in view the insufficient health facilities in the country, the government has directed State Life Insurance Corporation (SLIC) to launch a national health insurance scheme for people of low income groups.

Chairman SLIC Shahid Aziz Siddiqui announced this at the annual convention that began here on Wednesday.

He said that the corporation had been working on introducing the health insurance policy scheme that would be economically viable for people of all income groups. The scheme will ensure that the policyholders receive excellent health services against the insurance.

Currently, the SLIC, nationalised in 1972, has been doing business in the life insurance sector. The government has also put the corporation on the priority list of its privatisation programme.

He said that the corporation paid Rs1.90 billion on account of claims on maturity of 15,000 life insurance policies during the first quarter of 2009.

Giving the breakdown of paid amounts, he explained that the Rs250 million has been paid as death claims and Rs1.65 billion on matured claims.

He said that during the first quarter the corporation secured Rs4.70 billion as investment income, showing an increase of 10.85 per cent. It generated Rs5 billion as first year premium or new business during 2008, while company`s Life fund stood at Rs190 billion.

Rs132 billion has been invested in various investment schemes and Rs10 billion in Term Finance Certificates.

During the first quarter of 2009, the corporation sold 97,000 new life insurance policies and generated new business worth Rs1.24 billion. The new business target of the year 2009 has been projected at Rs6 billion. The total strength of life insurance policyholders has increased to 2.8 million.

During the quarter under review the Group Life Insurance section sold 61 policies and secured Rs650 million. The Real Estate division of corporation generated an income of Rs102 million as net incomes from its real estate operations during Jan-March 2009.

The SLIC is launching new multi- story buildings in Sialkot, Sargodah, Quetta, Gujranwala and Rahim Yar Khan.