Egypt – 30 thousand customers “declined” in life insurance
Wednesday, 03 23 2016, Category: Insurance and Reinsurance, Country: Egypt
The Insurance Federation of Egypt added 30 thousand life insurance customers to “declined” list after studying the accounts of companies for the past twenty days.
Mr. Ahmed M. Moawad responsible about the Personal Life Assurance and Group Life Assurance Committees at the Federation said that the main reason for adding those persons to the “declined” list is their poor health, which leads insurance companies to decline coverage for them, especially persons with liver problems 25% followed by persons with heart problems 24%.
Mr. Moawad added that the Personal Life Assurance committee has issued rules for the underwriting of investment unit policies as well as rules for the underwriting of Takaful Life policies with annual premiums and single premiums in order to be adopted in the market.
Source: Al Mal News