ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) has introduced the Life Insurance Policy Finder Service to help families locate life insurance policies held by deceased relatives. Launched in collaboration with the Central Depository Company (CDC) and the Insurance Association of Pakistan (IAP), the initiative aims to improve consumer protection and ensure rightful beneficiaries can access unclaimed insurance proceeds.
The service addresses a persistent issue where heirs remain unaware of existing life insurance policies, resulting in legitimate claims going unprocessed for years. The SECP said the new system will provide structured, secure, and transparent access to policy information.
To ensure sector-wide implementation, the SECP has issued a circular mandating all life insurance companies and family takaful operators to participate. Insurers must respond to public queries routed through the system within an agreed turnaround time and continue submitting required policy data. The service will be available to the public starting December 15, 2025, and the circular is accessible on the SECP website.
Users can access the service by sending the CNIC number of the deceased via SMS to 99833. If a matching policy is found, the relevant insurer or family takaful operator will contact the beneficiary to guide them through verification and claims processing.
