Misr Life Insurance Company (MLI), a subsidiary of Misr Insurance Holding Company and the leading life insurance company, recently collaborated with the National Bank of Egypt to offer the new pension policy called “Maash Bokra”.
We tend to worry about our retirement, pensions and how we will be able to support our daily needs and our family after we retire, the new policy pension comes in favor of covering your life needs after the retirement age.
Egyptians from different classes can obtain the policy, as it is available for everyone. Its primary purpose is to provide policyholders with either fixed monthly payments or a one-off income at the age of 50,55,60 or 65. So, if you are worried about your retirement or your family’s future, it is now secured by the pension policy “Maash Bokra”.
What you need to know about “Maash Bokra”
The new “Maash Bokra” doesn’t need a medical checkup, it provides both offline and online payment, and it allows the policyholder to choose the amount of pension they desire and they will be provided with payment flexibility options based on their choice.
Dr. Ahmed Abdelaziz who is the Chairman and Managing Director of MLI stated that installments can be easily paid; he said: “Installment payments can be made through a large network of electronic payment channels including the official Misr Life Insurance website , the MLI Mobile App, Fawry outlets available across the governorate, as well as mobile wallets and Fawry services available through National Bank of Egypt’s ATM machines”.
Who can apply for “Maash Bokra”
The new policy is available to those whose age ranges between 18 and 59 years old with a minimum payment period of five years; a client can obtain up to four policies with a maximum of one policy per eligibility age.
The pension amount is paid out in three cases, when a policyholder reaches retirement age, or in case of death or complete disability, where pension payment goes to the beneficiaries. The policyholder can also choose either to have the policy as a lump-sum payment or a fixed monthly payment over 10 or 15 years.
The Policy’s plan
“Maash Bokra” was released in February 2020 and started with 14 branches of the National Bank of Egypt reaching 40 branches today. The plan is to reach around 150 branches by the end of June. So far, the policy has attracted many people and with what it is offering, it will attract all segments of the Egyptian society.
Dr. Ahmed Abdelaziz also commented on the benefits of the new pension policy saying “The “Maash Bokra” policy has been successful in attracting a large segment of the National Bank of Egypt’s clients due to its unique benefits, that allows the policyholder to specify his/her pension amount while providing flexibility in payment options based on the choice of the policyholder with no need to pay fixed premiums.”
You can finally now rest assured that the new policy is your gateway to a more carefree, secure future and a guaranteed pension on retirement.