Al Mulla Exchange offers free life insurance to its online customers

Al Mulla Exchange, the leading money exchange and transfer company in Kuwait, announced that it will extend free life insurance to loyal customers who use the Al Mulla Exchange smart phone app or online portal for their money transfers. The life insurance coverage is worth KD 5000. Al Mulla Exchange has been a leader in the money remittance market in Kuwait.

In its quest to provide the best services to its customers, it always sought new ways and innovative solutions to bring unmatched benefits to its customers. It utilized new technologies to connect with remitting partners across the globe, providing exemplary services. Al Mulla Exchange was the first exchange company to offer free SMS feedback to instant credit in accounts, to launch the remittance app, and to offer dynamic pricing to customer.

As the company is expanding its online and digital services, it is now offering free life insurance coverage worth KD 5000 valid for one year for its online customers. A customer who does ten transactions online within twelve months is automatically insured for the next one year. There is no additional paperwork or premium to be paid by the customer for the coverage. As soon as the customer completes the 10th transaction the policy gets issued automatically in the next month.

Thereafter, when a policy expires after a year, the system verifies whether the customer has done ten or more transactions in the preceding twelve months, and if so, issues a new policy again valid for the next twelve months. The policy covers accidental death. The customer can identify in the app one or more beneficiary account(s) as the nominated account(s) into which the proceeds of the claim could be credited by Al Mulla Exchange on approval by the Insurance Company.

The claim amount/benefit will be transferred to the nominee after completion of the necessary documentation. The policy covers customers up to the age of 64 years and the customer can manage the policy from Al Mulla Exchange app directly. With the introduction of this policy, customers covered under this policy would not be covered under the short term policy of KD 1000 for 30 days which is applicable to other customers.