State Life sales commission up 10pc

KARACHI: State Life Insurance Corporation of Pakistan, the premier and only AAA-rated insurance company in the country is committed to provide higher benefits to its policy holders and to its genuine and dedicated officers and staff, a statement said.

"The Board of Directors of the corporation have resolved to plug financial leakages and pass on maximum benefits in the shape of better bonuses to policy holders and enhanced commissions to its field force by showing zero tolerance for malpractices such as dummy agents and fraudulent commissions," it added.

"To achieve such objective, board of directors took a revolutionary step to promote all existing genuine sales officers to the higher tier of sales managers and enhancing their sales commission from 8 percent to 10 percent, which will result in savings of around Rs5 billion a year and the same shall be distributed to its policy holders in shape of better bonuses." It said that none of the sales Officers will lose his job, rather they will get promotion and enhancement in their incomes.

"(However) The miscreants who try to put undue pressure in the hope to be allowed freehand for making losses to policyholders money, will be dealt with stern actions."