The National Bank of Pakistan has decided to provide insurance cover to its customers who remit their money through it.
The NBP, in collaboration with American International Life Company of New York (Alife) has introduced a unique scheme for its remittance customers by providing insurance coverage in case of accidental death or dismemberment.
The facility, which started on January 16, is at present available to all USA-based remittance customers who are sending remittances through NBP branches at Washington DC and New York City in USA.
The insurance coverage, at no cost to the customer, will be made available for a period of 12 months from the date of first remittance and only one transaction will make the remitter eligible for the said scheme.
Under the scheme, an amount of 10,000 dollars will be provided as insurance coverage to NBP remittance customers as part of the scheme called 'Accidental Death and Dismemberment'.
NBP in due course of time will extend this facility to its remittance customers in UK and in other European countries.
Remittances from overseas including USA through NBP branches are Free of Charge. Neither remitter outside Pakistan is asked to pay any fee, nor beneficiary in Pakistan. Beneficiaries in Pakistan may inform their overseas remitters in USA to avail this opportunity.