Egypt – Life insurance challenges and opportunities
Thursday, 01 04 2018, Category: Insurance and Reinsurance, Country: Egypt
The Group Life Insurance Committee of the Insurance Federation of Egypt is considering the launch of a seminar on the opportunities and challenges facing Group Life Insurance during the next month.
Moreover, Mr. Hassan Abdul Baki who heads the Group Life Insurance Committee said that the Federation through the committee finalized the model Group life microinsurance contract, which was sent to insurers noting that it does not include a medical examination of the insureds in case the insured amount is below EGP 100,000 and the premium will reflect minimal administrative expenses.
Furthermore, Mr. Abdul Baki said that the objective of the “model group contract” is to help insurance companies underwrite microinsurance. Usually microfinance institutions grant loans and life companies will settle the due amount in case of death or permanent and total disability.
Source: Al Mal News