KARACHI, April 11: The Federal Minister for Commerce Humayun Akhtar Khan on Friday directed the State Life Insurance Corporation (SLIC) to launch individual retirement saving scheme as well as accidental death benefit scheme.

Briefing newsmen after holding a meeting with high officials and chairman of SLIC Sami-ul-Hasan, the minister said that the death benefit scheme may be of Rs50,000 or of any sum which the State Life deems fit.

The minister said that market share of the insurance companies was growing and there was tremendous opportunity of investment in this business.

He also asked the SLIC to study the insurance registration policies of some foreign countries so that insurance companies could update and make policies and rules according to changing international scenario.