Nyala Insurance Launches New Insurance Product, “Diaspora Special Insurance”
Addis Ababa (21st December 2021) – Nyala Insurance S.C. (NISCO) announced that it has launched a new insurance product, named “Diaspora Special Assistance” in a view to provide insurance covers to all nationals who are permanently residing outside their home country.
The new product which is to be realized in collaboration with the world’s largest reinsurance groups will effectively deal with the following major scenarios:
While the insured is paying a visit to his/country for a short period of time, his/her reasonable costs of:
Medical fees, and
Pharmaceutical products (prescribed by the attending doctor) will be covered by the policy for a maximum period of 90 days per trip for one solid year.
To that extent, the cost will be worked out up to a limit of EURO 10,000.00 (13,000.00 USD; in Birr 640,000.00) followed by an amount of USD 50.00 excess applicability per individual claim request.
By the same token, in case of the death of the insured in his/her country of residence, the “Diaspora Special Assistance” policy will cover the costs of:
Repatriation of mortal remains from the place where death has occurred to the place of burial in his/her country.
In addition, Nyala Insurance (the insurer) will contract to reimburse the costs of repatriation for death of close relatives (spouse, first degree ascendant or descendant, brother or sister) in the most suitable means of transport accommodations to accompany the mortal remain from the place where death has occurred to the place of burial.
The company is a pioneer to bring this product to the American market specifically to the Ethiopian Diasporas. The policy is designed to cover costs of medical treatment.Read More
Any applicant (sponsor) is eligible to buy medical health insurance on behalf of his parents, spouse, brothers/sisters and other family members residing ( in Ethiopia) together with the head of the family.
The sponsor will discuss and negotiate with the representative on the Limit of benefits the policy offers (as included in the policy document.
The Insurer, where appropriate, shall be responsible for the rendering of the services
WHILE THE BENEFICIARY IS VISITING ETHIOPIA FOR SHORT TIME
IN CASE OF DEATH OF THE BENEFICIARY IN THE COUNTRYRead More