NADRA, State Life join hands to give insurance cover to people
ISLAMABAD: The National Database and Registration Authority (Nadra), in collaboration with the State Life Insurance Corporation of Pakistan, has launched an accidental death insurance scheme which offers a cover of Rs100,000 to every bearer of the Smart National Identity Card (SNIC) for the first two years.
Nadra chief Tariq Malik and State Life chairman Aziz Siddiqui signed an agreement about the scheme on Wednesday at the Nadra’s headquarters.
The SNIC was introduced in August by Nadra and it has 36 security features while the CNIC (Computerised National Identity Card) has only 16.
Nadra is discussing with several banks the possibility of offering credit facility to the bearers of the new card. It is also planning to give to them facilities of branch-less banking and money disbursement in natural calamities such as flood and earthquake.
Speaking at the signing ceremony, Mr Malik said that Nadra had issued over 92.8 million identity cards to people of 18 years or more. Nadra had now formulated an accidental death insurance scheme to help the government reach out to the poorest sections of society.
“Under the scheme, the holder of the SNIC will automatically be registered for the accidental death insurance of Rs100,000 for the first two years. The applicant may nominate his/her nominee at the time of registration for the SNIC, who will collect the insurance amount.”
Mr Malik said that on the accidental death of any SNIC holder, the benefit derived from the scheme would be paid by the State Life to Nadra for its onward transfer to the person nominated by the card holder. The minimum premium which Nadra would pay to the State Life on behalf of the people, would create a snowball effect for the company’s financial position on the one side and security for the people on the other, he added.
The Nadra chairman said the SNIC had allowed Nadra to reach out to people with a state-of-the-art technology having biometric facilities which were not possible previously.
One of the major benefits of the technology, which was fast becoming the authentication standard around the globe, was its ability to store data within a microchip, said Mr Malik.
A micro-chip installed in the new card keeps the biometric data of the holder in it and thus makes the card more secure and safe from distortion.
A spokesperson for the State Life said the organisation would ensure processing of claims within 30 days of receipt of complete documents by the designated zone of the corporation.