Provide your family's general living expenses, children's education and marriage when you're not around.
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Product Features

We live in a world with uncertainty where maintaining financial security for our families is crucial for all of us. Salary Continuation Plan can help provide for your family's general living expenses, children's education and marriage when you're not around.

Death Benefit

In the unfortunate event of your death due to accident or sickness, a monthly benefit equal to your monthly salary, at the time of enrolment, is payable for a guaranteed 24 months. The total benefit pay out can be as high as PKR 1,920,000.


Your account will be deducted for an amount equal to 0.6% of your annual salary upfront for the entire one year cover. Your cover will be renewed automatically for subsequent years upon continuous deduction of annual premiums and provided plan terms and conditions will remain unchanged.

Premium and Benefit Illustrated
Monthly Salary Annual Salary Premium Rate Applied on Annual Salary Annual Premium Total Death Benefit Payable in 24 Months
30,000 360,000 0.6% 2,160 720,000
50,000 600,000 0.6% 3,600 1,200,000
75,000 900,000 0.6% 5,400 1,800,000
80,000 960,000 0.6% 5,760* 1,920,000

*The maximum amount of monthly benefit will be capped at PKR 80,000 regardless of the actual salary of the insured customer

Term and Eligibility

This product is only for Standard Chartered Bank (Pakistan) Limited ("SCBPL") Employee Banking customers aged 18 to 60 years. Once enrolled under the age of 60, you will remain enrolled till the enrolment date immediately following your 65th birthday (subject to regular premium payment).

How to Enroll

It's easy:

  • Call our 24 hour Phone Banking at 111 002 002 and request for enrolment
  • Complete enrolment form and submit it to your branch / relationship manager


    • How will I know that I am enrolled under Salary Continuation Plan?
      After obtaining your consent for the enrolment, you will be enrolled under Salary Continuation Plan. Once premium has been deducted from your account, your bank statement will serve as proof of your enrolment. Also, acceptance certificate and detailed terms and conditions will be sent to your mailing address by the insurance company.

    • Under what circumstances will I be covered?
      You will be covered 24 hours worldwide, once deduction has been made from your account for the policy. The policy will cover your life under all events, subject to policy terms and conditions and exclusions. Key exclusions of Salary Continuation Plan are as follows:

      • Death due to non-accidental reasons within 18 months from the date of commencement of coverage due to a pre-existing condition
      • Suicide within 12 months from the date of commencement of coverage
      • AIDS and/or AIDS related diseases
      • Actively participating in war
      • The insurance company shall not be deemed to provide cover and the insurance company shall not be liable to pay any claim or provide any benefit hereunder to the extent that the provision of such cover, payment of such claim or provision of such benefit would expose the insurance company to any sanction, prohibition or restriction under United Nations resolutions or the trade or economic sanctions, laws or regulations of the European Union, United Kingdom or United States of America or local laws.

      For a detailed account of exclusions, please refer to Salary Continuation Plan terms and conditions.

    • What is the claim process and what are the timelines involved?
      Settling a claim involves the following procedure:

      • Beneficiary contacts American Life Insurance Company (Pakistan) Limited (MetLife Alico) at 021-111-111-711 and lodges a claim. The beneficiary has 90 days to lodge a claim after the death of the insured customer.
      • American Life Insurance Company (Pakistan) Limited (MetLife Alico) will ask the beneficiary for details and documents which are required to settle the claim as per Salary Continuation Plan terms and conditions.
      • The beneficiary has 180 days to provide the documents
      • The expected time for settlement of claims may extend up to 15 business days subject to the condition that all requisite documents have been submitted to the insurance company and all terms and conditions have been complied with.
    • Who is the underwriter of Salary Continuation Plan?
      Salary Continuation Plan is underwritten by American Life Insurance Company (Pakistan) Limited - Alico is a MetLife, Inc. Company. MetLife, Inc. is a leading global provider of insurance, annuities and employee benefit programs, serving 90 million customers in over 50 countries. Through its subsidiaries and affiliates, MetLife holds leading market positions in the United States, Japan, Latin America, Asia Pacific, Europe and the Middle East.

      MetLife companies provide consumers and businesses with life insurance, accident & health insurance, retirement planning, and wealth management solutions. 

Learn more »


SCBPL refers to Standard Chartered Bank (Pakistan) Limited, a banking company incorporated under the laws of Pakistan and having its registered office at Standard Chartered Building, I.I. Chundrigar Road, Karachi.

MetLife Alico refers to American Life Insurance Company (Pakistan) Limited.

Salary Continuation Plan is an insurance product underwritten, issued and subject to terms and conditions set by MetLife Alico. It is not a bank product.

Salary Continuation Plan is only the name of the product and does not, in any way, indicate the quality of the product and its future returns.

SCBPL is acting as the distributor of Salary Continuation Plan on behalf of MetLife Alico and shall not be held responsible in any manner whatsoever to any person, including but not limited to the insured customer(s), beneficiary or third party.

SCBPL will not be responsible in any manner if your application or claim is rejected by MetLife Alico nor will it investigate or provide any opinion on merits of the claim.

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111 002 002

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Speaking Up

Standard Chartered Bank (the “Bank”) is committed to maintaining a culture of the highest ethics and integrity, and in compliance with all applicable law, regulation and internal policy. As part of this commitment, the Bank has a ‘Speaking Up’ programme through which genuine concerns in this regard can be raised. Members of the public can securely raise Speaking Up concerns through this hyperlink, which is hosted on behalf of the Bank by a third party ‘InTouch’. Examples of concerns that can be raised through this website are concerns that relate to accounting, internal accounting controls or auditing matters and concerns relating to bribery or banking and financial crime. Concerns received will be forwarded to the Bank’s investigations team for review. Complaints relating to SCB banking services should not be raised through this site in the first instance, but through the SCB branch network, contact centres, Relationship Managers or the ‘Contact Us’ webpage.


Please note that this hyperlink will bring to you to another website on the Internet, which is operated by InTouch, an independent company appointed by the Bank to support its Speaking Up programme. Please be mindful that when you click on the link and open a new window in your browser, you will be subject to the additional terms of use of the website that you are going to visit.