Egypt’s Misr Life Insurance Company announced Thursday that it has launched a new product to provide critical illness cover.
The new critical illness insurance policy will cover conditions such as cancer, coronary bypass surgeries, myocardial infarction, kidney failure, stroke, aortic aneurysm surgeries, total blindness, heart valve replacement, organ transplant surgeries, multiple sclerosis, and paralysis.
The new product was developed to help consumers cover expenses associated with critical illness. This specialised insurance provides a lump-sum, tax-free payment should a policyholder suffer from certain specific critical conditions.
The policy represents a protection that provides a lifetime income for the customers in the event of disability, through payments guaranteed for 10-30 years.
