Global money transfer brand Xpress Money is offering free life insurance coverage for its Indian expatriate customers, who send money from the UAE, Kingdom of Saudi Arabia, Oman, Qatar, Kuwait and Bahrain.
Xpress Money vice president and business head Sudhesh Giriyan was quoted by Business Standard as saying, "This product was launched because majority of the Indian expats from blue-collared category, residing and working in the GCC region, generally work in hazardous conditions at construction sites and factories."
"This policy will benefit that category and give them life protection too."
Delivered in collaboration with Union Insurance in the Gulf Co-operation Council (GCC) region, the free life insurance scheme provides a cover of AED15,000 ($4,082), including AED5,000 ($1,360) of repatriation expenses, and needs to be renewed monthly.
Available automatically to any person transmitting money through Xpress Money, the policy can be availed for free regardless of the amount sent and comes into effect right from the day the transaction was carried out.