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The Financial Supervisory Authority publishes the model of the insurance policy for Egyptians abroad


Dr. Muhammad Omran, Chairman of the Financial Supervisory Authority, issued Resolution No. 953 of 2021, regarding the work of the form of the travel insurance policy abroad.

 

According to the decision published in the Official Gazette, issue No. 152, issued today, Thursday, the document came as follows:

 

Dr. Mohamed Omran, head of the Financial Supervisory Authority, had announced the application of compulsory insurance to Egyptians abroad, during the issuance or renewal of new passports, starting from next July 3, with the aim of providing insurance protection for Egyptians abroad against the risks of illness, death, theft and deportation with a value of up to 30 thousand euros at a time, provided that the travel period does not exceed 90 consecutive days. The citizen benefits from this compulsory document by paying 300 pounds when issuing the passport, which will be attached to a hotline number for insurance companies to disburse compensation to Egyptians abroad.

 

Omran added, in previous press statements, that after imposing compulsory insurance on Egyptians abroad, the authority now provides its services to about 55-60 million people, through the various activities supervised by the authority, such as money market activities, insurance, real estate financing, and microfinance.

 

The insurance policy provides an insurance umbrella that provides immediate assistance to Egyptians traveling abroad in the event that any of them suffers any accidental accident or emergency disease that he may be exposed to during his travel trip outside the Arab Republic of Egypt. It also includes insurance coverage in addition to transportation costs or returning the insured to the country of residence in case Illness or an accident for the insured, the costs of returning the body to the country of residence in the event of the death of the insured.

 

The insurance coverages granted to more than 20 million Egyptians while traveling all over the world under this document will be valid on all trips that do not exceed a period of 90 consecutive days during the validity period of the passport, and the limits of insurance coverage reach 30 thousand euros or its equivalent in currencies. Others with a bearing of the first 100 Euros or its equivalent in other currencies from medical expenses and hospitalization costs.

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