Freelancers in Egypt Can Now Get Life Insurance
One more reason to ditch the 9-to-5?
Egypt's Central Bank has green lit the issuance of life insurance for seasonal and temporary workers who have previously been unable to obtain relevant certificates due to lack of permanent work contracts, reports Ahram Online.
In the initial phase, only four banks now have the legal framework to issue them, National Bank of Egypt, Banque Misr, Banque Du Caire, and Agriculture Bank of Egypt, and plans to extend coverage to other banks are yet to be announced.
According to Ahram, about 671K seasonal workers filed for the certificates until the end of January 2019, amounting to a total value of EGP 870 million, and the aforementioned banks have already started issuing the certificates at the beginning of March.
Seasonal workers eligible for the certificate should be between 18 and 59 of age, and wouldn't need any other documents than their national ID cards to obtain the certificate.