Welcome to NJI Life Insurance : Publication

GENERAL PURPOSES OF LIFE INSURANCE

	Create an estate – pay bills, debts, etc.
	Pay death taxes
	Fund a business transfer
	College fund for children or grand children
	Help pay off home mortgage
	Protect business from the effects of the loss of a key person
	Help provide funds at retirement
	Replace charitable gift
	Equalize inheritance

Contributed by M. Sajid Rahim)

PAKISTAN POPULATION - FERTILITY AND MORTALITY:

Pakistan 's population has grown at an average rate of 3 percent per annum since 1951 and until mid 1980's. Population growth slowed to an average rate of 2.6 percent per annum during 1985-86 and until 1999-2000. However, since 2000-01 Pakistan 's population is growing at an average rate of almost 2 percent per annum. If Pakistan had succeeded in slowing its population growth rate to 2 percent per annum since 1959-60, Pakistan 's population today would have been 103.4 million as against 152.53 million. In other words, the country's population would have been 49.13 million less. Pakistan is relatively poorer today as a result of higher population growth rate in the past. Had Pakistan 's population grown at an average rate of 2 percent per annum since 1959-60, Pakistan 's per capita income would have been Rs. 64366 today as against Rs. 43748. In other words, Pakistan would have been 52.02 percent richer than what it is today. Furthermore, Pakistan 's per capita income in dollar term would have been $ 1083 rather than $ 736.

According to one estimate, Pakistan 's population will almost double in the next 32 years at the current growth rate of 1.9 percent. Higher population growth supplies more work force in the market and given the low economic growth in the past, it creates less jobs. Thus, it puts pressure on educational and health facilities on the one hand and gives birth to unemployment, land fragmentation, overcrowding, katchi abadis, poverty, crime and environmental degradation on the other.

Fertility and Mortality :

While mortality has been decreasing and fertility has shown a significant decline over the recent years, the crude death rate (CDR) of Pakistan is estimated at 8.1 (per thousand) in 2004-05. Maternal mortality ranges from 350-400 per hundred thousand, per year leading to about seventeen thousand newborn babies being born motherless. The life expectancy in Pakistan for the year 2004-05 is estimated at 64.10 for males and 63.80 for females. The decline in mortality rate has been slowed, when compared with those of many other developing countries.

Despite a considerable decline in the total mortality in Pakistan , infant mortality has remained high at 82 perthousand live births in 2004. The major reasons for this high rate of infant and child mortality are diarrhea and pneumonia. The Reproductive Health (RH) indicators i.e. Total Fertility Rate (TFR), Crude Birth Rate (CBR), Crude Death Rate (CDR), Infant Mortality Rate (IMR) and Maternal Mortality Rate (MMR), and life expectancy at birth are reported in table 13.1. The Total Fertility Rate (TFR) in Pakistan has declined from 4.8 children per woman in fiscal year 2000-01 to 4.07 children per woman in 2004-05. This reduction is significant but the rate is still well above 2.1 children per woman, the long-term target of the population policy

Source: Economic Survey of Paksitan

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