KARACHI - The State Life Insurance Corporation of Pakistan (SLIC) has allocated a sum of Rs 12.32 billion as bonus for the year 2008. This was announced by the Chairman of SLIC, Shahid Aziz Siddiqui, here on Wednesday. Talking to reporters here he said that the SLIC has allocated Rs.12.32 billion as per the actuarial valuation of 2008 as bonus on with-profit policies of the policy holders. He stated that the Board of Directors of the SLIC has approved this amount as bonus for the policy holders. Siddiqui pointed out that Rs. 12.15 billion has been allocated from the Pakistan rupees business and Rs. 0.17 from the overseas business. He further stated that SLIC yearly allocates 97.5 percent from its actuarial surplus income as bonus to the policyholders while 2.5 percent is invested in the government of Pakistans long-term business plans. Chairman SLIC said that with an allocation of Rs. 20 billion towards the Life Fund the overall amount under this head would increase to Rs. 195 billion by the end of this year. He stated that regarding initiation of health insurance products, the SLIC is discussing various options and that the coverage may be in three or four diseases. The Chairman said that the stress of the President and the Prime Minister is towards the health insurance for the people. Siddiqui further pointed out that there is also a scheme of life and group insurance for the personnel of police, Rangers, Federal Constabulary, anti-narcotics police force etc. He also pointed out that the SLIC is expected to open a 'Takaful window by the year 2010. Siddiqui said that SLIC is planning to add 19 floors to its existing building in Islamabad and construction of its buildings in Sialkot, Gujranwala, Sargodha and Rahim Yar Khan and a building at a later stage in Quetta. He stated that there are 2.9 million policy holders in life insurance and four million in group insurance and there are 80,000 SLIC agents in the field.