Magazine date:
Feb 2014 In partnership with Wafa Assurance, Al Barid Bank is selling a death insurance policy called “Rahma". The bank, a subsidiary of the post office, is targeting low-income people devoid of health insurance. Rahma is an affordable product whose underwriting formalities have been simplified to a great extent.
The benefit paid to the beneficiary, upon delivery of the death certificate of the insured, amounts to 10 000 MAD or 20 000 MAD (1240 USD or 2481 USD) according to the scheme selected and the amount of premiums paid: 70 or 140 MAD (8.6 or 17.3 USD). The age limit for the coverage is 72 years versus 65 years for conventional insurance.