KARACHI, Feb 9: State Life Insurance Corporation is planning to open up jobs for 20,000 persons in marketing during 2005 after having provided jobs to more than 15,500 persons in 2004.

The Slic Chairman Kamal Afsar told journalists on Tuesday evening, after inaugurating a four-day conference 2005 of the Corporation's regional chiefs and zonal heads that the Corporation has procured a record first year premium of Rs11.10 billion in 2004 as against Rs9.5 billion in 2003.

In 2004, the SLIC made additional payment of Rs256.70 million to the newly inducted marketing executives.

The Slic procured Rs2.20 billion new individual life business in 2004 and is all set to earn Rs3 billion in 2005.

Zafar Mahmood, Executive Director of Slic said the individual life business has increased by 32.37 per cent and the group insurance premium has swelled to Rs2.41 billion while the Gulf business amounts to Rs0.140 billion.

In 2004, the SLIC paid Rs2.50 billion maturity and death claims to more than 28,500 policyholders and their family members. The renewal premium stands at Rs6 billion in 2004 as against Rs5.23 billion in 2003. The second year consistency is now 82 per cent and the third year consistency is 89 per cent.