Bancassurance has been specially coined for offering, distributing and selling of various insurance products of SLIC through NBP branch network, as an additional service to their existing and potential new customers. NBP has signed a tripartite agreement with State Life Insurance Corporation (SLIC) and GBA Services (Pvt) Ltd. for launch of a new Bancassurance Product.
Bancassurance includes plans which are high value savings and investments products designed to provide benefits to the entrepreneurs, businessmen, lawyers, doctors, engineers, service oriented people, teachers, shopkeepers, factory owners, commission agents, investors and specially those who need money at some phase of their lives. These plans are as follows;
- Endowment Plan
- Sada Bahar Plan
- 3 Payment Plan
For sale of Bancassurance Product, SLIC has employed Bancassurance Sales Consultants (BSCs). These BSC’s are duly trained and certified and authorized for the sales of insurance products in NBP branches.
All NBP Account holders/customers including non- resident Pakistanis (NRPs), Dual/foreign national maintaining an active PKR current or savings account are eligible for buying an Insurance product. However, only active accounts can buy the insurance product, provided the customer account has sufficient funds available or the customer deposits required funds for the recovery of premium. NBP will debit the customer’s or policy holder’s account vides a premium collection system mutually agreed between NBP and SLIC.
Customer's age at the time of enrollment should be within the stipulated age limits of 18-65 years of age. NBP customer having foreign currency account shall have to open a PKR account in order to buy any Bancassurance policy. NRPs will have to ensure physical presence at the time of buying any policy.