Misr Life Insurance launched earlier this year its latest bancassurance product “Maash Bokra” pension policy exclusively available to the National Bank of Egypt customers and we can’t be more excited! The policy is available in over 100 of the bank’s branches across Egypt, so there’s no way you can miss it. Whether you’re retiring soon or planning for the distant future, this new policy guarantees you a carefree and comfortable future.
We all remember when there was a time the term “pension” was associated with individuals with a high or steady income, senior citizens, grandparents, and retirees. So when Misr Life Insurance introduced this unique and innovative pension policy, it literally set out a whole new meaning for the term pension.
When choosing Maash Bokra you’ll have the complete freedom to select the amount you want and still be flexible with the payment options; you won’t need to pay fixed premiums or even undertake medical checkups, all you’ll have to do is simply head to one of the bank branches to sign up, which will take only a few minutes, and from then on, it’s all digital. Welcome to the new era!
When we say that Maash Bokra is absolutely all packed up in one policy with the first of its kind benefits you’ll ever come across, we mean that at any point you plan to purchase Maash Bokra policy with a certain pension amount identified at the selected maturity, you’ll still have the chance to grow that amount with one easy step and that’s to add more premiums; because the more premiums you pay at any point, the larger your pension amount will be at maturity.
Those premiums can actually be paid through a large network of electronic channels that can vary between the official Misr Life Insurance (MLI) website or mobile App, Fawry outlets, mobile wallets, and other available services around your governorate.
Dr. Ahmed Abdel Aziz, Chairman and Managing Director of Misr Life Insurance, shares more features of the Maash Bokra: “It was necessary to provide a flexible and innovative insurance solution that fits the future especially with today’s fast-paced world and digital era that takes into account the different needs of all segments of society. Therefore, Maash Bokra policy was launched, its value is determined according to the customer’s choice based on his needs and financial plan starting from a minimum of 500 Egyptian pounds to a maximum of 60,000 Egyptian pounds as the first premium per policy per year, and gives clients complete freedom to choose the policy duration and the flexibility to pay ad hoc premium at any frequency for their insurance program.”
Finally, if you’re worried that you may forget about premiums or the monthly payments, have no worries, because the policy won’t get canceled or reduced if you don’t pay additional premiums.
Here’s your guide on how to purchase a Maash Bokra Policy:
- The policy is available exclusively to any NBE customer whose age ranges between 18 to 59
- Choose either to have the policy as a lump-sum payment or a fixed monthly payment over 10 or 15 years.
- You can get up to 4 different Maash Bokra policies at a time
- Maturity ages (50,55,60,65)
- Maash Bokra policy enters a semi-annual draw; the prize is an increase of 75% of the retirement amount or the pension payments.