Thousands of Egyptian expats subscribe to optional life insurance in just 4 days since its launching

CAIRO – 5 January 2022: The Ministry of Immigration and Egyptian Expats Affairs indicated in a press statement Wednesday that 7,846 individuals joined the optional life insurance launched on January 1.

The statement elaborated that 1,119 Egyptians subscribed to the package on the first day; 2,300 on the second day; 2,427 on the third day; and 2,000 on the fourth.

Expats can register themselves on the website of Banque Misr, paying just LE100 per annum. The insurance covers both accidental death and natural death, disbursing LE100,000 ($6,250), covering the costs of the repatriation of the dead body, while the rest is distributed among the heirs.  

The age of the subscriber should not be above 65 years, and his relatives must report the death - on the portal, over the phone, or by email - within seven days, providing all the necessary medical documents.

According to previous statements by the ministry, the official number of Egyptian expats is 9.5 million, while the estimated figure is 13 million.