SECP launches life insurance policy finder to help families trace unclaimed benefits

The Securities and Exchange Commission of Pakistan (SECP) has launched a Life Insurance Policy Finder Service to help families trace life insurance policies held by deceased relatives, the regulator said on Monday.

The initiative has been developed in collaboration with the Central Depository Company of Pakistan Limited and the Insurance Association of Pakistan to address a long-standing issue where beneficiaries remain unaware of policies and are unable to claim benefits.

The SECP said many genuine claims go unclaimed for years because family members do not know a policy exists. The new service aims to improve consumer protection, strengthen transparency, and give heirs structured access to their rightful insurance benefits.

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To ensure uniform implementation, the SECP has issued a circular requiring all life insurance companies and family takaful operators to participate. Insurers must promptly respond to public queries routed through the system within the agreed turnaround time and continue submitting required policy data. The circular has been uploaded to the SECP website.

The Life Insurance Policy Finder Service will be available to the public from Dec. 15, 2025.

Under the process, individuals can send the CNIC number of the deceased person via SMS to 99833. If a policy is traced against the provided CNIC, the concerned insurance company or family takaful operator will contact the beneficiary and guide them through verification and claims procedures.