According to Xpress Money, this insurance scheme will provide a life insurance protection of Dgs15k including Dgs5K of repatriation expenses of the mortal remains – something that not many insurance companies cover.
The life insurance benefit will automatically be available to any person remitting money through Xpress Money for a period of one month, from the day the customer makes a transaction.
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Xpress Money RVP of business development for MENA AFPAK, Pushpak Damania, said: "The launch of this product will truly benefit many blue collared workers at large as well as give Xpress Money and Union Insurance an edge over our competitors with the innovativeness of the product. We look forward to further expansion to other countries and regions over the next few months."
Xpress Money vice president and business head, Sudhesh Giriyan, said: "This life insurance scheme is a critical value addition to our services that yet again reinstates our commitment, of bringing a humane touch to the business we are in. We are glad to be joining hands with Union Insurance; and together creating a new milestone in the remittance sphere."
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