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tawfeer plus


Tawfeer Plus Insurance Program


Who is covered?


This program includes all AlexBank customers who have "Tawfeer Plus" account, with a monthly balance not less than EGP 10,000 and EGP 500,000 for "Private" clients. The minimum age of the insured not less than 18 years old, nor exceeding 65 years old.


Insurance Benefit and Covering Limits


AlexBank customers who have a "Tawfeer plus" accounts will enjoy life insurance coverage as follows: 


1. Free Life Insurance Benefit: EGP 10,000 and EGP 150,000 for "Private" clients 

2. Additional Life Insurance Benefit: Customers who have "Tawfeer Plus" account will be entitled to an additional life insurance benefit (lump sum not exceeding three times the amount of the savings account and maximum of EGP 500,000) including the additional life insurance benefit and the amount of Free Life Insurance Benefit of EGP 10,000 or EGP 150,000 for 'Private" clients. This is all for a fixed monthly premium that will be deducted from the account.


Exclusions


No insurance payments will be made in case of death of the client (insured) as a result of one of the following reasons:


1. Fraud medical reports: In case of fraud medical reports handed by the customer at the beginning of contracting.

2. Suicide: If the insured committed suicide within 2 years from the date of issuance of the policy or from any date of its reinstatement unless it is proved that the cause of the suicide of that made him/her lost their will at the time of suicide.

3. War Risk: If death arises as a direct or indirect result of war, maneuvers, or military exercises, "War" means any war or sub-war (whether the war is declared or not), invasion or act of an external enemy, rebellion or sedition, civil war, insurrection, revolution, conspiracy, rapist rule, or siege.

4. AIDS: if the insured person has been identified as having AIDS (hypotension)(ARC) or a laboratory examination of his blood has shown the presence of antibodies to a virus Human Immunodeficiency Virus (HIV)


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