When you hear the word ‘pension’, your mind immediately goes to certain people. The word has always been tied to high and steady-income individuals who grow to become senior citizens, like our very own grandparents, and go into retirement and start cashing out their pensions.
Misr Life Insurance is set on revamping pensions and their meanings, though, by recently introducing a one-of-a-kind pension policy.
Dr. Ahmed Abdel Aziz, Chairman and Managing Director of Misr Life Insurance, shares more features of the Maash Bokra.
“It was necessary to provide a flexible and innovative insurance solution that fits the future especially with today’s fast paced world and digital era that takes into account the different needs of all segments of society.
Therefore, Maash Bokra policy was launched. Its value is determined according to the customers’ choices based on their needs and financial plan starting from a minimum of 500 Egyptian pounds to a maximum of 60,000 Egyptian pounds as first premium per policy per year, and gives clients complete freedom to choose the duration and additional premium payment amounts and frequency for their insurance program.”
You know what this means? Whether you are one or twenty-five or forty years away from hanging up your boots and retiring, this policy guarantees to give you a carefree future and many opportunities to ensure financial security and stability.
This new pension policy will also make the way you specify the amount of pension you want easier as well as more flexible in terms of payment options. It won’t require you to pay any fixed or mandated premiums or go through any medical checkups at all.
Everything you’ll ever need is literally wrapped up in one policy that is the first of its kind in pros in Egypt. But the advantages don’t stop there, either.
Even if you buy the Maash Bokra policy with a specific pension set when you’re older, you’ll still have leeway to keep growing that amount by adding more and more premiums—and the more of those you pay, the bigger your pension will be!
But what if you forget all about the monthly payments, what happens then? Don’t worry about it. Seriously.
One of the best things about this new pension policy is that it won’t be automatically cancelled or cut down if you don’t immediately pay the additional premiums or monthly payments.
And speaking of paying those premiums, it’s all been made easy. You can pay premiums through many payment channels, whether it’s the official Misr Life Insurance website (www.misrlife.com) , the MLI mobile app, mobile wallets, or Fawry outlets in your governorate.
So, you’re just about ready to sign up for Maash Bokra, aren’t you? Well, here’s what you need to do!
It’s incredibly easy. Just head to one of the NBE branches to sign up for Maash Bokra and in a matter of minutes, you’ll be set for life.
Before you ask, there isn’t a big age discrepancy in this policy. To be able to sign up, you just need to be an NBE customer between the ages of 18 to 59. Then, you’ll choose to have the policy as a lump-sum payment or fixed monthly payment for 10+ or 15+ years. That’s it for the branch—everything else, you can deal with digitally from the comfort of your own home.
All in all, you can get up to 4 different Maash Bokra policies at the same time. Here’s one final perk—the policy enters a semi-annual draw, the prize of which is a 75% increase in the pension payments.