Xpress MONEY FREE INSURANCE COVER FOR GCC EXPATS

Xpress Money today said it has tied-up with Union Insurance in Gulf Co-operation Council (GCC) region to launch remittance industry's first free life insurance for Indian expats working in the region. "Designed specifically to suit the blue-collared population, this monthly renewable free life insurance scheme will be available to any person remitting money through Xpress Money," the company said in a statement. This insurance will provide a life insurance protection of AED 15,000 dirhams, including AED 5,000 dirhams of repatriation expenses of the mortal remains, it said. The life insurance benefit will be available to any person remitting money through Xpress Money for a period of one month, from the day the customer makes a transaction. Further, a remitter can avail this life insurance free of cost irrespective of the amount transacted, it said. "This scheme has been launched primarily to offer insurance cover to Indian expats from blue-collared category, residing and working in the GCC region, who generally work in hazardous conditions at construction sites or factories. "Further, this life insurance is also a critical value addition to our services and will create a new milestone in the remittance sphere," Xpress Money Vice President and Business Head Sudhesh Giriyan said. The life insurance cover will be offered to Xpress Money customers sending money to India from major markets like the UAE, Saudi Arabia, Oman, Qatar, Kuwait and Bahrain. "Over the next few months Xpress Money plans to offer this service to a wider range of customers and will add more corridors to the existing list, based on the response that the service receives from the target audience," the release said.