KARACHI, May 13: State Life Insurance Corporation paid Rs400 million maturity and death claims to 6,258 policyholders and their family members during January to March this year,” SLIC chairman Sameeul Hasan informed the senior executives of his corporation at a convention held at Bhurban near Murree.

A press release quotes Sameeul Hasan stating that SLIC paid Rs300 million as maturity claims and Rs100 million as death claims during the first three months of 2002.

The Life Fund of the corporation at end 2001 was Rs75 billion. A sum of 97.5 per cent of Rs4 billion surplus has been allocated for the individual policyholders.

The SLIC chairman said that individual policyholders will now receive new bonus rates with profits annually instead of biannually.

He informed that the new maximum per year bonus rates for Whole Life will be Rs102 and Endowment policies Rs94 per thousand sums assured.

He said that SLIC procured more than Rs210 million first year premium up to March, which is more than 82 per cent of the target.

The SLIC convention 2002 was attended by the members of board of directors, regional chiefs, zonal heads, top bureaucrats and business leaders from marketing force and senior corporate executives.