UAE Exchange, one of the region's leading global remittance, foreign exchange and payment solutions brand, has launched the Smart Pay Personal Accident Insurance scheme, in association with The New India Assurance Company.  

The scheme, which is designed specifically for the UAE market, is free and can be availed by all customers who receive their salaries through UAE Exchange’s WPS compliant payroll service – Smart Pay, it said.

The announcement was made at an event today by Varghese Mathew, country-head, UAE, and Mathai Vaidian, associate vice president – sales and services, from UAE Exchange; and C S Ayyappan, COO-Dubai operations, and Chittaranjan Revankar deputy general manager (agency) from New India Assurance.

Mathew said: “Smart Pay Personal Accident Insurance scheme covers the policyholder against death or disability due to an accident. We are glad to associate with New India Assurance Company who is supporting us in creating awareness among the employees on the necessity of having an accidental insurance policy.”

Ayyappan added that the free, customised and superior value insurance solution for employees is suited to the unique requirements of various individuals.

Smart Pay Personal Accident Insurance scheme covers the following benefits:
• In case of accidental death or permanent and total disability, 100 per cent of the capital sum will be insured.
• As per the scale, an individual can take the sum once during policy period if diagnosed with permanent partial disablement.
• The policy will cover the repatriation of mortal remains and expenses for one accompanying person up to a maximum of Dh5,000 in case of accidental death in the UAE.
• In case of hospitalisation, due to accidental injury, medical expenses will be covered up to a maximum of Dh100 per day for 50 days. -TradeArabia News Service