Nyala insurance avails new product for diaspora


Nyala insurance launches a new insurance product called Diaspora Special Insurance in a view to provide insurance cover to Ethiopians and Ethiopian born individuals who are permanently residing outside their home country.
According to the company, the product is to be relied in collaboration with the world’s largest reinsurance group which will effectively deal with scenarios such as hospitalization, surgery, medical fees, and pharmaceutical products while the insured pays a visit to his/her country for a short period of time to a maximum of 90 days with reasonable cost.
As the company indicated, the cost will be worked out up to a limit of 10,000 Euro or 13,000 USD or in Ethiopian birr 640,000 followed by an amount of 50 USD excess applicability per individual claim request.
“In addition to the medical insurance, the new scheme in case of death of the insured in his country of residence, the diaspora special assistance policy will cover the cost of transportation of the mortal remains from the place where the death has occurred to Ethiopia,” officials from the insurance company disclosed.
Also in addition to the insured, the scheme will also cover cost of transportation of close relatives to the insured which will be in the most suitable means of transport accommodation to accompany the mortal remain from the place where death occurred to Ethiopia.
The insured are expected to pay 57 USD or 75 USD to buy the insurance calculated based on their resident country, and the agreement should be renewed every year. Customers can buy the insurance from agents of Nyala Insurance across the world, through website and applications.