Xpress Money offers free life insurance
Manama, May 23, 2013
Xpress Money, a leading money transfer business, has launched a free life insurance cover scheme for its Bahrain remitters in partnership with Union Insurance.
Designed specifically to suit the blue-collared population, the monthly renewable free life insurance scheme is available to any person remitting money through Xpress Money, reported the Gulf Daily News.
Under the scheme, life insurance protection of BD1,540 ($4.060) is offered including BD513 as repatriation expenses for mortal remains.
The life insurance benefit will automatically be available to any person remitting money through Xpress Money for a period of one month, from the day the customer makes a transaction. A customer can avail of the scheme by simply remitting money on a monthly basis through Xpress Money, irrespective of the amount transacted.
In Bahrain, the insurance cover will be available for remittances to India and Ethiopia.
"The majority of expats residing and working in the GCC, belong to the blue-collared class," Xpress Money vice-president and business head Sudhesh Giriyan said.
These migrants are generally not covered by any insurance firm because of their hazardous working conditions at construction sites, factories and elsewhere.
"We launched this scheme with an objective of reaching out to these migrants and giving them an opportunity to insure themselves," he added.
"This first-of-its-kind life insurance programme in the remittance industry is a clear demonstration of how we understand the unique requirements of our clients and address them by utilising our expertise, technical skills and efficient operations," said Union Insurance Company president Usman Khadmi. – TradeArabia News Service