Cairo – Mubasher: Misr Life Insurance Company, affiliated to the Egyptian Ministry of Public Enterprise Sector, has launched a new bancassurance product to be offered to customers of the National Bank of Egypt (NBE).

The new pension product “Maash Bokra” will be sold to customers aged between 18 and 59 years with payment period of five years, according to a statement on Sunday. 

Under the scheme, customers can choose either to get a lump sum at retirement or receive fixed monthly income for 10 years when they reach pension age or in case of death or full disability before pension age.