OLDWICK, N.J.–(BUSINESS WIRE)– A.M. Best Co. has affirmed the financial strength rating of A- (Excellent) and issuer credit ratings of “a-” of Commonwealth Annuity and Life Insurance Company (Commonwealth) and its subsidiary, First Allmerica Financial Life Insurance Company (FAFLIC) (both domiciled in Southborough, MA), and Columbia Capital Life Reinsurance Company (Columbia) and its subsidiary, Charleston Capital Reinsurance LLC (Charleston) (both domiciled in Washington, DC). The outlook for all ratings is stable. Commonwealth and its affiliates are ultimately wholly owned subsidiaries of The Goldman Sachs Group, Inc. (Goldman Sachs).

Commonwealth reinsures universal life, variable universal life and other types of policies, while FAFLIC reinsures traditional life, payout annuities and other types of policies. The entire book of business at Columbia and Charleston is currently comprised of blocks retroceded from Commonwealth.

The ratings recognize the consolidated solid risk-adjusted capitalization of the Goldman Sachs life reinsurance companies, the history of GAAP earnings (despite fluctuating statutory results) and strong liquidity. The ratings also consider A.M. Best’s expectation that the reinsurance group has access to capital, hedging expertise, deal flow and other Goldman Sachs resources, as needed. Commonwealth also has improved its risk profile by ceding its variable annuity business to a Bermuda affiliate.

Despite these positive attributes, A.M. Best believes the reinsurance group may encounter challenges in achieving meaningful scale efficiencies given the highly competitive nature of the life reinsurance market, which is dominated by companies with well established life reinsurance franchises. If additional blocks cannot be acquired at the expected pace, Commonwealth may not grow into the scale required to generate consistent and strong statutory profits. An additional challenge includes achieving favorable market investment portfolio performance in the current difficult economic climate.

The principal methodology used in determining these ratings is Best’s Credit Rating Methodology — Global Life and Non-Life Insurance Edition, which provides a comprehensive explanation of A.M. Best’s rating process and highlights the different rating criteria employed. Additional key criteria utilized include: “Risk Management and the Rating Process for Insurance Companies”; “Update to BCAR for Life & Health Insurers”; “Rating Members of Insurance Groups”; and “Assessing Country Risk.” Methodologies can be found at www.ambest.com/ratings/methodology.

Founded in 1899, A.M. Best Company is a global full-service credit rating organization dedicated to serving the financial and health care service industries, including insurance companies, banks, hospitals and health care system providers. For more information, visit www.ambest.com.

The nonprofit LIFE Foundation has joined forces with more than 100 of the nation’s top life insurance companies in an effort to increase awareness among Americans. Life Insurance Awareness Month (LIAM) was created in 2004 as an industry-wide effort held annually during the month of September.

“My father never thought he’d die at such a young age, but he loved his family enough to expect the unexpected,” said Bibb. “His life insurance was his legacy of love to our family, allowing us to carry on with our lives and to continue living. Sometimes the worst happens and thankfully for my family, my father had planned ahead.” —Leslie Bibb, LIAM Spokesperson

In addition to featuring actress Leslie Bibb as the national spokesperson for Life Insurance Awareness Month, LIFE’s theme for the 2010 campaign will be the “Wonders of Life,” a theme first introduced during LIAM 2009.

“The ‘Wonders of Life’ theme is all about making sure your family will have the kind of life you always hoped they’d have, even if you’re not around to witness it,” said Marvin H. Feldman, CLU, ChFC, president and CEO of the LIFE Foundation.

LIMRA International reported that 68 million American adults have no life insurance and among those with coverage, most have far less than experts recommend.

According to a 2008 LIMRA study:

• 15 percent of husbands and 28 percent of wives have no life insurance.
• 6 million households (10 percent of families with children under 18) have no life insurance or term life insurance protection.
• The percentage of families with dependent children that admit they’ll have immediate trouble with everyday living expenses is 22 percent.

If you are not sure you have adequate coverage, please contact an Insurance Advisor at Wholesale Insurance who can help you safeguard your family’s financial future.

ARLINGTON, Va., and WINDSOR, Conn., Aug. 30 /PRNewswire/ — Despite the fact that most American families have less to fall back on financially than when the economic downturn began, ownership of individual life insurance has hit a 50-year low, according to a new LIMRA study.

The Trends in Life Insurance Ownership study, conducted every six years by LIMRA, found that only 44 percent of U.S. households have individual life insurance. The number of U.S. households that have no life insurance whatsoever is growing.  Today, 30 percent of households (35 million) have no life insurance coverage, compared to 22 percent of households in 2004.  Among households with children under age 18, which arguably have the greatest need for life insurance, 11 million have no coverage.

“Clearly, more American families are living on the edge — surviving paycheck to paycheck — and, as our new study suggests, too many without the safety net that life insurance provides,” said Robert Kerzner, CLU, ChFC, president and CEO of LIMRA, LOMA, and LL Global.  ”The numbers tell a grim story.  Today, there are 11 million fewer American households covered by life insurance compared with six years ago.  A majority of families either have no life insurance or not enough, leaving them one accident or terminal illness away from a financial catastrophe for their loved ones.”

Families Focusing on Other Financial Priorities in Difficult Times

More than 40 percent of Americans say a major reason they have not bought more life insurance is because they have other financial priorities right now, such as paying off debt or saving for retirement.  However, the drop in life insurance ownership is not because families are not feeling vulnerable.   Among households with children under age 18, four in 10 say they would have immediate trouble meeting everyday living expenses if the primary breadwinner died today. Another three in 10 would have trouble keeping up with expenses after several months.

Record Number of Americans See Need for Life Insurance

Half of households feel they need more life insurance — the highest level ever.  Moreover, 24 percent of households with children under age 18 want to speak with a financial professional about their life insurance needs; and a quarter of all households plan to buy life insurance in the next year.  According to LIMRA’s study, life insurance beat out all other sources of financial assets or income that Americans expect to use to help pay bills and to maintain their lifestyle in the event of the primary wage earner’s death.

“With so many families continuing to struggle financially, there has never been a more critical time for people to own an adequate amount of life insurance,” said Marvin H. Feldman, CLU, ChFC, president and CEO of the LIFE Foundation. “This study shows that Americans place great value on the need for protection and half of all families recognize that they need more life insurance than they have, and that’s good news. Now they need to take the next step, and get the coverage they lack before it’s too late.”

Families Don’t Know Where to Turn for Help

About one in four middle-market households admit they don’t know how to obtain or reach their financial goals, including buying life insurance.  One of the biggest obstacles is lack of information.  Almost eight in 10 U.S. households currently do not have a personal life insurance agent or broker to turn to and most of them say they never did.  Most individual life insurance policies are sold by insurance agents and many Americans want to keep buying in this manner.  For instance, 60 percent of Baby Boomer households prefer to buy life insurance face-to-face.  Younger generations say they also are interested in gathering information about life insurance online and at their place of work.

“As an industry, we need to reach out to consumers and educate them about the various ways they can purchase life insurance,” said Mr. Kerzner of LIMRA.  ”Whether they buy from an agent, get coverage through their employer, or make an online purchase, the important thing is that they get the coverage they need to protect their loved ones.”

Added Mr. Feldman of the LIFE Foundation, “September is Life Insurance Awareness Month, the one time each year when the insurance industry comes together to remind Americans of the need to include life insurance in their financial plans. Hopefully, these findings will help us get people’s attention and serve as a wake-up call that now is the time to take action.”

For more information about Life Insurance Awareness Month, please visit www.lifehappens.org/liam.  To view the 2010 LIAM Fact Sheet and other resources, please visit LIMRA’s Web site at http://www.limra.com/LIAM/?Lang=EN&Region=NA.

About LIMRA

LIMRA is a worldwide research, consulting and professional development organization that helps more than 850 insurance and financial services companies in 73 countries increase their marketing and distribution effectiveness. Visit LIMRA atwww.limra.com.

About LIFE

The Life and Health Insurance Foundation for Education (LIFE) was founded in 1994 in response to the public’s growing need for information and education on life, health, disability and long-term care insurance. LIFE also seeks to remind people of the important role insurance professionals perform in helping families, businesses and individuals find the insurance products that best fit their needs. To learn more about these topics, please visit www.lifehappens.org.

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KANSAS CITY, Mo., Aug. 26 /PRNewswire/ — Assurant Employee Benefits now offers cancer, critical illness, accident and gap insurance as employee-paid, voluntary benefits. These products provide competitive benefits backed by Assurant Employee Benefits’ commitment to customer service. Initially available in 16 states, these products will be introduced to additional markets throughout the year.

Currently, less than 35 percent of employers offer these types of voluntary benefits to employees, but the need for the coverage continues to grow. One in two American men and one in three women are at risk for developing cancer(1), and accident or illness will force 1 in 5 U.S. employees to miss work for at least a year before they turn 65(2).

Assurant Employee Benefits’ goal is to make these coverage options accessible to more employers and their employees. Enrollment is easy and flexible, giving brokers and employers the ability to customize the sign-up process. In addition, a group plan offers guarantee issue with a minimum number of employees, making the enrollment process easy. And each policy comes with Assurant Employee Benefits’ experienced and dedicated claims department to answer questions and guide claimants through the claims process.

“We know that traditional medical insurance doesn’t cover everything that comes up in life, and that’s why we’re offering these voluntary products,” says Tim Knott, senior vice president of strategic markets and product management. “Our product development team conducted extensive research to ensure these policies offer what people really need in these situations. We are committed to providing simple and reliable solutions to our customers as Assurant Employee Benefits strives to be a one-stop shop for all ancillary benefit needs.”

Follow Assurant Employee Benefits news on Twitter @aebnews and by subscribing to our RSS feed in our media room at www.assurantemployeebenefits.com

About Assurant Employee Benefits

Assurant Employee Benefits specializes in quality employee benefits and services, including long-term and short-term disability, life insurance, voluntary benefits such as cancer, critical illness and accident, dental coverage, and disability reinsurance management services. Assurant Employee Benefits is the brand name for insurance products underwritten by Union Security Insurance Company and for prepaid dental products provided by an affiliated prepaid dental company. In New York, insurance products are underwritten and prepaid products are provided by Union Security Life Insurance Company of New York, which is licensed in New York and has its principal place of business in Syracuse, New York. Plans contain limitations, exclusions and restrictions. www.assurantemployeebenefits.com

Assurant Employee Benefits is part of Assurant is a premier provider of specialized insurance products and related services in North America and select worldwide markets. The four key businesses — Assurant Solutions, Assurant Specialty Property, Assurant Health, and Assurant Employee Benefits — partner with clients who are leaders in their industries and have built leadership positions in a number of specialty insurance market segments in the U.S. and select worldwide markets. The Assurant business units provide debt protection administration; credit-related insurance; warranties and service contracts; pre-funded funeral insurance; creditor-placed homeowners insurance; manufactured housing homeowners insurance; individual health and small employer group health insurance; group dental insurance; group disability insurance; and group life insurance.

Assurant, a Fortune 500 company and a member of the S&P 500, is traded on the New York Stock Exchange under the symbol AIZ. Assurant has more than $26 billion in assets and $8 billion in annual revenue. Assurant has approximately 14,500 employees worldwide and is headquartered in New York’s financial district. www.assurant.com.

(1) American Cancer Society, www.cancer.org/cancer/cancerbasics

(2) Life and Health Insurance Foundation for Education, Nov 2005

Source: Assurant Employee Benefits

Karachi, Aug. 23 — The Individual Life segment of Lincoln National Corporation (NYSE: LNC) today announced the enhancement of its comprehensive life insurance line with the launch of Lincoln Duration Guarantee(SM) UL. Issued by The Lincoln National Life Insurance Company, this new hybrid product further expands Lincoln’s comprehensiveinsurance solution set by combining the flexibility and guarantees of universal life with the affordability of term insurance.

“Lincoln is an industry leader in the creation of innovative, quality, life insurance solutions,” said Michael Burns, Senior Vice President, Individual Life Product Management, Insurance Solutions. “We are very excited to introduce this new universal life offering that will further complement our traditional term and universal life solutions ‘ helping us reach a market that is becoming increasingly relevant as a result of clients’ changing financial dynamics.”

Lincoln DurationGuarantee(SM) UL offers affordable guaranteed coverage for clients, specifically designed for the duration they need, including:

* Shorter coverage durations offered at ages not typically covered by term insurance;

* Affordable short guarantee coverage for selected periods of 10, 15, 20, 25, or 30 years, or to age 95;

* 1035 rollover capability for short duration coverage at all ages; and

* Flexibility to decrease face amount or premium payment options (charges may apply).

“With Lincoln DurationGuarantee(SM) UL, we now offer the most comprehensive solutions for fixed universal life needs,” said Michael Parker, Assistant Vice President, Fixed Life Product Leader. “From true term insurance coverage to guaranteed UL with lifetime guarantees or shorter durations, Lincoln has the right product solution.”

Important disclosures. Please read.

Issued by The Lincoln National Life Insurance Company, Fort Wayne, IN, on policy form UL5026 and state variations. Products and features subject to state availability. Limitations and exclusions may apply. Not available in New York.

About Lincoln Financial Group

Lincoln Financial Group is the marketing name for Lincoln National Corporation (NYSE: LNC) and its affiliates. With headquarters in the Philadelphia region, the companies of Lincoln Financial Group had assets under management of $140 billion as of June 30, 2010. Through its affiliated companies, Lincoln Financial Group offers: annuities; life, group life and disability insurance; 401(k) and 403(b) plans; savings plans; and comprehensive financial planning and advisory services Published by HT Syndication with permission from Daily Pak Banker.

August 25, 2010

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PHILADELPHIA, Aug. 23 /PRNewswire-FirstCall/ — The Group Protection segment of Lincoln National Corporation (NYSE: LNC) today announced, as part of its ongoing commitment to the voluntary market, the enhancement of its extensive group voluntary portfolio. These enhancements include: greater disability product flexibility to fit varying needs; streamlined enrollment strategies designed to maximize participation; and educational tools to help empower employees to make informed decisions.

Additionally, Lincoln is expanding its group voluntary offerings with the launch of a new accident insurance product. Some of its features include: benefits payable directly to the covered employee; benefits payable for multiple injuries from a single accident, and employees may keep this coverage even if they separate from their employer. This new offering joins the company’s comprehensive voluntary product suite which includes group term life, accidental death and dismemberment, short-term and long-term disability coverage, and dental insurance.

“Voluntary benefits are a powerful way for employers to provide affordable protection options to their employees,” said Bob Risk, Vice President, Group Protection Sales. “As one of the major providers of quality voluntary benefits, we’re committed to offering employers – and their employees – the flexible products, service and enrollment options they need, on a group rate basis.”

“We also make it easy – we’re driven to provide a positive customer experience,” said Susan Harpster, Vice President, Administrative Risk Services. “With our simplified enrollment tools and educational materials, we help employers maximize participation and help employees make informed decisions. Then, when employees take action to protect themselves and their families, both employers and employees can have confidence about their financial futures.”

Also included with this launch, Lincoln’s new program STEPS 2 Enroll lets employees enroll in company benefits anywhere there is Internet access. This straightforward and easy-to-use system makes enrollment a snap and gives employees the power to take control of their benefits. Participating employers provide employees with a temporary user ID and password, along with login information. After entering STEPS 2 Enroll, employees follow a few easy steps. And, as with all Lincoln group programs, Lincoln’s voluntary coverage is implemented by Lincoln’s I-Team (SM), which creates a seamless and streamlined implementation process. This offers employers further simplification of the administration process and shortened time cycles for the issuance of policies in Lincoln’s product lines.

Group insurance products are issued by The Lincoln National Life Insurance Company (Fort Wayne, IN), which does not solicit business in New York, nor is it licensed to do so. In New York, group insurance products are issued by Lincoln Life & Annuity Company of New York (Syracuse, NY). Both are Lincoln Financial Group® companies. Product availability and/or features may vary by state. Limitations and exclusions may apply.

Lincoln Financial Group is the marketing name for Lincoln National Corporation (NYSE: LNC) and its affiliates. With headquarters in the Philadelphia region, the companies of Lincoln Financial Group had assets under management of $140 billion as of June 30, 2010. Through its affiliated companies, Lincoln Financial Group offers: annuities; life, group life and disability insurance; 401(k) and 403(b) plans; savings plans; and comprehensive financial planning and advisory services. For more information, including a copy of our most recent SEC reports containing our balance sheets, please visitwww.LincolnFinancial.com.

DENVER–(BUSINESS WIRE)–More than 78 million Baby Boomers will be entering retirement over the next 20 years,⁽¹⁾ and Social Security serves as the foundation of many of their retirement income plans. But there is a lot of confusion out there when it comes to maximizing benefits and calculating lifetime income.

“It’s the first of many new value-add campaigns Transamerica plans to introduce over the next few months. We recognize that now, more than ever, advisors are looking for this type of support to help address the most pressing concerns of clients.”

Transamerica’s “Unlocking Social Security” campaign eases that confusion, with a comprehensive and thorough guide for advisors and their clients. “Unlocking Social Security” gives advisors everything they need to start conversations with their clients, provide specific retirement advice tailored to a client’s needs, and ultimately help grow their business.

“’Unlocking Social Security’ is a program that was built to educate advisors and their clients,” says Blake Bostwick, Chief Operating Officer of Transamerica Capital, Inc. “It’s the first of many new value-add campaigns Transamerica plans to introduce over the next few months. We recognize that now, more than ever, advisors are looking for this type of support to help address the most pressing concerns of clients.”

The “Unlocking Social Security” program contains materials for individual advisor-client meetings as well as seminars, including:

5 Conversation Cards:
Divided into categories according to a client’s age, these conversation cards break down complex topics into key talking points.

Presentation:
Specifically for prospecting and educational purposes, the “Unlocking Social Security” Presentation addresses common questions and encourages further discussion.

Client Guide:
Offers a client sample questions to ask their advisor during a meeting to help them better understand their benefit options.

The “Unlocking Social Security” program is a necessary addition to an advisor’s practice. It gives non-product specific guidance to an advisor to help them educate their clients about a crucial part of their retirement income.

Financial Professionals may click here for more information.

Annuities issued by Transamerica Life Insurance Company in Cedar Rapids, Iowa and Transamerica Financial Life Insurance Company in Harrison, New York (Transamerica). Annuities are underwritten and distributed by Transamerica Capital, Inc.

Transamerica Financial Life Insurance Company is licensed in New York.

⁽¹⁾ U.S. Census Bureau. Population Reference Bureau. “Just How Many Boomers Are There”. [Online] U.S. Census Bureau, 2002. http://www.census.gov.

About Transamerica

Transamerica companies market an array of life insurance, annuities, retirement solutions and investments designed to help individuals, families, and businesses build, protect and preserve their assets. The Transamerica companies are members of the AEGON companies. For more information about Transamerica, visit www.transamerica.com.

About Transamerica Capital, Inc.

Transamerica Capital, Inc. is the underwriting and wholesaling broker/dealer for variable annuities issued by Transamerica Life Insurance Company and Transamerica Financial Life Insurance Company. All of these companies are AEGON companies. Transamerica Capital, Inc. works with financial professionals at wirehouse, regional, independent, and bank firms to provide a variety of insurance and investment solutions.

About AEGON N.V.

AEGON N.V., based in The Hague, The Netherlands, has life insurance, pension and investment businesses in over 20 markets in the Americas, Europe and Asia. AEGON companies employ approximately 28,000 people and have over 40 million customers across the globe. For more information about AEGON, visit www.aegon.com.

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Mumbai (OPENPRESS) August 18, 2010 — ICICI Prudential Life Insurance Company Ltd (ICICI Prudential Life) today announced the launch of iProtect – a completely online term insurance plan that is extremely affordable.

An individual can apply online for iProtect and the payment can be made either through his/her internet banking account or credit card. The life cover commences as soon as the premium is paid. Upto a certain limit, life cover can be bought immediately without the need for any medical tests. Above this limit also, the entire transaction can be finished online but the cover will start post a medical test. The policy can be done bought completely online as no physical documentation is required.

iProtect provides financial security to the family of the policy holder in the event of his untimely death. In case of such an eventuality, the nominee will receive the entire sum assured.

The entry age for a customer is a minimum of 20 years and a maximum of 65 years with a minimum policy term of 10 years and a maximum of 30 years. The maximum age at policy expiry is 75 years.

Speaking at the launch, Mr. Madhivanan Balakrishnan, Executive Vice President ICICI Prudential Life said, “India has witnessed a proliferation of internet usage and e-commerce. People are increasingly turning to the internet as a medium to transact from the confines of their homes at their convenience. The launch of iProtect will help us to be more accessible to our customers. It provides unmatched value and allows him to secure the financial protection of his family in the event of his untimely death. As this is a purely online product, we are able to pass on all benefits of cost savings to our customers. Given the uncomplicated nature of the product, ease of purchase and extremely affordable premiums, we are confident that iProtect will strike a chord with our customers.” To know more about the company, please visit : http://www.iciciprulife.com/public/BuyOnline/iProtect/iProtect.htm

About ICICI Prudential Life Insurance
ICICI Prudential Life Insurance Company is a joint venture between ICICI Bank and Prudential plc. It was one of the first players to commence operations when the insurance industry was opened to the private sector in 2000. For FY2010, the company garnered Rs 16,532 crores of total premiums and has underwritten over 10 million policies since inception. The company has a network of over 1,900 offices and over 2,10,000 advisors, as on March 31, 2010. For the past nine years, ICICI Prudential has maintained its dominant position amongst life insurers in the country, with a wide range of flexible products that meet the needs of the Indian customer at every step in life.
To know more about the company, please visit http://www.iciciprulife.com

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NEWARK, N.J., Aug 16, 2010 (BUSINESS WIRE) — The Prudential Insurance Company of America, based in Newark, NJ, will provide members of the National Down Syndrome Society (NDSS) support in the area of financial literacy as a result of an agreement the two organizations announced today.

“We’re excited to work with Prudential to help people with Down Syndrome and their families learn more about planning for their future financial needs,” said Jon Coleman, president of NDSS. “Both organizations have a vested interest in increasing awareness in this area as well as creating additional resources and opportunities for our members.”

Through the agreement, Prudential will host informational webinars and participate in local NDSS chapter activities including Buddy Walks. “Our involvement with NDSS reflects Prudential’s commitment to serving the particular financial needs of growing diverse markets,” said Joan Cleveland, senior vice president, Business Development, Individual Life Insurance. “The work NDSS does is invaluable and we’re proud to leverage their extensive experience and join them as an advocate for the special needs community.”

Over the last year, a core team of Prudential and independent financial professionals located across the country have been trained to address the unique financial concerns of families caring for loved ones with special needs through the company’s program, Special Needs Solutions…For All Ages.

Specifically, financial professionals in the program can help families:

– Understand how a special needs trust, a document prepared by an attorney with expertise in special needs law, protects an individual’s eligibility for government assistance such as Supplemental Security Income and/or Medicaid. Assets held by the trust for the benefit of someone with special needs should be used to supplement–not replace–government assistance.

– Select the proper insurance and financial products to help fund the special needs trust.

– Get started with a Letter of Intent, a non-binding document which states a family’s wishes for their loved one’s future with regard to health issues, educational goals, housing, etc., and the means to support those wishes.

“We understand that providing financially for a family member with special needs isn’t a simple task. That’s one of the reasons we’re focusing our efforts on supporting this community,” added Cleveland.

To date, over 140 Prudential and independent financial professionals have participated in the Special Needs Solutions…For All Ages program. After completing a comprehensive three-day training course, participants stay up-to-date on current issues through ongoing discussions. For additional information about Special Needs Solutions…For All Ages or to locate a financial professional who specializes in servicing the special needs community visit www.prudential.com/specialneeds.

Prudential, its affiliates, and their financial professionals do not provide tax or legal advice.

The National Down Syndrome Society is a nonprofit organization representing the more than 400,000 Americans with Down syndrome. The mission of NDSS is to be the national advocate for the value, acceptance and inclusion of people with Down syndrome. The National Down Syndrome Society envisions a world in which all people with Down syndrome have the opportunity enhance their quality of life, realize their life aspirations, and become valued members of welcoming community. NDSS has over 275 affiliates nationwide. To learn more visit www.ndss.org.

Prudential Financial, Inc. (PRU 54.33, -1.16, -2.09%), a financial services leader, has operations in the United States, Asia, Europe, and Latin America. Prudential’s diverse and talented employees are committed to helping individual and institutional customers grow and protect their wealth through a variety of products and services, including life insurance, annuities, retirement-related services, mutual funds, investment management, and real estate services. In the U.S., Prudential’s iconic Rock symbol has stood for strength, stability, expertise and innovation for more than a century. For more information, please visit http://www.news.prudential.com/.

SOURCE: Prudential

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PRESS RELEASE (INSURANCE NEWS) PIA is offering optional Complete Life Insurance Cover to its passengers travelling from overseas to Pakistan and passengers travelling on domestic routes. PIA Spokesman said here on Thursday.

Under this scheme all valuable passengers of PIA, travelling from overseas can avail insurance cover for their entire stay in Pakistan for Rs. 10 Million on payment of US $10 or equivalent amount in their local currency. The scheme is also available for passengers travelling on Domestic Routes i.e. from their hometown to another domestic destination.

The CLIC Scheme (Complete Life Insurance Cover) is a milestone and only of its kind in the history of global airline industry. PIA is the first airline to offer insurance cover to passengers for the entire length of their stay in another country.

For the convenience of the passengers, details and amount of premium to be charged in each country are available at PIA website www.piac.com.pk . Passengers can also inquire details of the offer from PIA Booking Offices, Travel agents and PIA Call Centre on 111-786-786.

PIA spokesman said that the insurance cover is offered in partnership with Eastern Federal Union (EFU) Insurance Company to provide protection to passengers in case of Accidental Death & Permanent Disability (even if it occurs as a result of any terrorist activity). This offer is valid for passengers with valid return tickets.

PIA, during its six decades of existence, has achieved many Historic Firsts. PIA was the first airline in the world to operate a scheduled helicopter service as well as start an Air Safari with jet aircraft in 1993-94. PIA was the launch customer of the latest Boeing 777-200LR aircraft. PIA was the first Asian Airline to introduce a pure jet aircraft. In 1962, PIA broke the record for the fastest commercial flight between London and Karachi, PIA spokesman added.

Apart from the optional insurance scheme offered, all passengers travelling on any Domestic/International flight operated by PIA is covered under PIA’s Aviation Insurance Program. Passenger claims are settled on the basis of applicable convention for passengers’ claims settlement. For International flights Pakistan is a signatory to Warsaw Convention as amended by Hague Protocol under which the passenger liability in case of accident is limited to USD 20,000/-per passenger excluding American nationals. Under Domestic contract for carriage PIA is liable to pay Rs. 500,000/- per passenger.

So far, over 31,504 policies of CLIC (Complete Life Insurance Cover) have been sold since the commencement of this facility in April 2010, the highest numbers of Passengers who have availed the offered scheme are from Middle East, USA, Canada, United Kingdom, European Union, South Asia, India, China and Turkey; and the numbers are increasing. While in Pakistan also 665 passengers availed the insurance cover from their home town to another domestic destination. PIA Spokesman concluded.

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