PROGRESS OF LIFE INSURANCE IN PAKISTAN
Pakistan is a developing country. The progress of insurance is at a very slow speed due to (1) illiteracy of the people (2) extreme poverty (3) lack of insurance mindedness (4) frequent political disturbance (5) slow economic development (6) lack of trained insurance personnel and above all the higher rate of interest
offered by saving schemes:
1 State Life Insurance Corporation. State Life Insurance Corporationwas established on November 1. 1972 to manage the life insurance business rPakistan. The life insurance business was nationalized on March '" The
paid up capital of the Corporation was raised to Rs 30 million in 1974.
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