Nabila Makram, Minister of State for Immigration and Egyptians Expatriates’ Affairs, has announced the details of the optional insurance policy for Egyptians working and residing abroad for the first time, especially those working in the Gulf countries.
According to a memorandum of understanding between the Immigration Ministry, the Ministry of Interior, the Egyptian Insurance Federation, the Financial Regulatory Authority, and the Egyptian Association for Travel Insurance, the insurance policy will be optional for Egyptians abroad starting January 2022.
Makram said that the personal accident insurance policy will be available to Egyptians working abroad who have work permits, amounting to EGP 100,000.
The Minister of Immigration said that it was agreed that the subscription fees to the personal accident insurance policy would be EGP 300 at the first issuance of a passport, and EGP 100 for the annual renewal. An account will be opened at the Central Bank of Egypt (CBE) for the beneficiaries of the new insurance policy to cover the costs of body transportation to Egypt in case of death or hospitalization in case of personal accidents.
The Minister added that some of the governing rules of the Egyptian Association for Travel Insurance were amended and approved in implementation of what was agreed upon in the protocol signed between the Ministry of Immigration, FRA, and the Egyptian Insurance Federation during the third annual Sharm El-Sheikh Insurance and Reinsurance Rendezvous last September.