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Your Guide to Insurance Plans in Egypt

banks financial security insurance insurance plans
Your Guide to Insurance Plans in Egypt
written by
Arwa Hezzah

Being insured is an essential part of financial planning. Insurance guarantees that you will be financially protected in case of any significant unfortunate occurrence in life that might cause loss of finances in one way or another. According to Investopedia, “Insurance is a contract, represented by a policy, in which an individual or entity receives financial protection or reimbursement against losses from an insurance company.” Basically, insurance protects from financial losses resulting from damage, injury, or injury caused to a third party for a smaller price. There are a wide variety of insurance policies, including health, property, life, and auto.

While there are a number of insurance companies through which you can get insured directly in Egypt, including Metlife, Allianz, Bupa, and AXA, many provide special rates for entities including banks, syndicates, and certain employers, making the process easier for their clients. Moreover, clients in Egypt can opt for seeking assistance from insurance brokers, such as Deraya, GoodLife, or Lockton, who create custom insurance plans by combining the services of various insurance companies.

Banks remain one of the most crucial entities that offer insurance, which is why we’ve provided a list of banks that offer comprehensive insurance plans here in Egypt.

  1. Banque Misr

In cooperation with Allianz Life Assurance Company, Banque Misr provides a multitude of insurance plans, available through all the bank’s branches. You can choose which ever insurance plan you find suitable for your lifestyle, to provide security for you and your family. The banks plans include:

  • Children’s Education: Banque Misr provides a plan that ensures your children’s future education in case of the death of a provider. The plan provides coverage for all education levels until higher academic degrees, as well as life insurance coverage.
  • Retirement: The plan provides you with protection from income decrease, inflation rates, rising prices, and medical expenses after retirement.
  • Protection and Investment: The plan provides you with an investment that you can receive as a lump sum or as annual income, especially in the case of retirement.
  • Family Protection: The plan protects your family against accidents, disability, or death.

You can find out more information about Banque Misr’s plans in cooperation with Allianz here or by calling 0226075682.

  1. CIB

CIB offers a Premium Saving Account, which provides life and non-life insurance with AXA Egypt. The plan offers insurance benefits tailored to your needs depending on the different segments you choose. Based on the investments made, different elements provide different amounts of coverage for each type of insurance, including Accidental Death and Disability (ADD), Educational Allowance, Accidental Medical Insurance, and Home Insurance. The different segments are divided into Prime, Plus, and Wealth & Private, and each offers different levels of coverage, going from EGP 200,000 to EGP 1 Million.

For more information about CIB’s insurance plans in cooperation with AXA Egypt, visit the website or call 19666.

  1. Credit Agricole

Credit Agricole has also teamed up with Allianz Life Assurance Company to provide you with several different insurance plans to assure you and your family’s security. Various plans are tailored according to different needs, providing the best possible forms of protection in emergencies. Credit Agricole’s insurance plans include:

  • Plan for Women: Credit Agricole helps independent women achieve financial security while being insured with up to EGP 300,000, covering expenses such as marriage, purchasing property, or having a child. Additionally, the plan provides coverage for critical illnesses until the age of 64.
  • Family Protection: The plan protects your family against accidents, disability, or death, to secure living standards in the case of the absence of the insured person.
  • Retirement: The plan secures your income at the time of retirement, provides life insurance, and allows you to receive your investment with interest at retirement.
  • Children’s Education: The plan allows your children to complete their education to the highest levels.
  • Children’s Wedding: The plan provides marriage expenses for the children of the insurance holder in the case of the insured’s death.
  • Best Doctors: The plan provides health insurance in the case of diagnosis of any of the diseases covered within the insurance policy, allowing you to receive the best medical attention in Egypt or abroad.

For more information about Credit Agricole’s insurance plans in cooperation with Allianz Life Assurance Company, visit their website here or call 19191.

  1. National Bank of Kuwait (NBK)

NBK offers a variety of travel insurance plans with the aid of Boubyan Takaful. If you use your NBK card to pay for your airline tickets, you can receive a travel insurance coverage plan, depending on the kind of card you hold. Coverage includes monetary returns for events such as flight delays or cancellations, loss of luggage, or medical emergencies. You can also use NBK’s insurance policies to apply for a Schengen Visa.

Depending on the card you hold, you can expect to receive reimbursements in case of accidents occurring throughout your trip. Whether you have a Visa Signature Credit Card, a World Mastercard Credit Card, a Visa Platinum Credit Card, a Miles World Mastercard Credit Card, or a Titanium or Platinum Mastercard Credit Card, you can receive reimbursements in the case of emergencies, including personal accident insurance, emergency medical evacuation and repatriation, daily hospital indemnity, medical assistance, baggage loss or delay, trip cancellation or curtailment, and missed connections.

For more information about NBK’s travel insurance plans in cooperation with Boubyan Takaful, visit NBK’s website or call 1801801.