MFA, FRA Sign Protocol within Framework of "Your Insurance in Egypt" initiative for Expatriates

Egypt has taken a significant step toward strengthening social protection for its expatriate citizens with the signing of a new cooperation protocol between the Ministry of Foreign Affairs and Emigration and the Financial Regulatory Authority (FRA) as part of the nationwide initiative "Your Insurance in Egypt".

The agreement was signed on Sunday by Ambassador Nabil Habashi, Deputy Minister of Foreign Affairs and Emigration, and Dr. Islam Azzam, Deputy Chairman of the FRA, in the presence of Badr Abdel Ati, Minister of Foreign Affairs, and Mohamed Farid, Chairman of the FRA.

The protocol aims to integrate Egyptians working abroad and their families into the national social protection system by enhancing the personal accident insurance policy. The revamped policy increases the compensation ceiling for death or total permanent disability to EGP 250,000, up from EGP 100,000, and will come into effect starting July 2025.

This development marks a strategic shift in the government’s approach to diaspora engagement, offering a broader and more inclusive insurance net. The coverage, previously limited to those holding official work permits under Law No. 173 of 1958, will now extend to all Egyptians working abroad and their families, regardless of permit status.

The insurance policy will be administered by the Egyptian Travel Insurance Pool, which will oversee the expanded coverage structure. Egyptians abroad can subscribe to the policy via the pool’s official website, mobile app, and WhatsApp, facilitating easier access to services and supporting efforts to boost insurance inclusion.

Key benefits of the revised policy include:

Coverage in the event of natural or accidental death while abroad.

Compensation for total permanent disability resulting from accidents.

Full coverage of actual costs for repatriating remains, up to a maximum of EGP 250,000.

Equivalent compensation if burial occurs abroad, based on the average cost of body repatriation paid that year.

Funds distributed to legal heirs, in the event of accidental death, after submitting required documentation.

Eligibility is restricted to individuals aged 18 to 70 at the time of the insured incident.

Officials emphasized that this cooperation reflects the state’s ongoing commitment to provide comprehensive protection for Egyptians worldwide, aligning with broader efforts to promote financial inclusion, insurance accessibility, and social cohesion.

"This initiative is not just an insurance policy; it's a declaration of responsibility to Egyptians wherever they are," said one senior official involved in the agreement.