Reviewing Policy Forms Services Fees

Our valuable Allianz Life Assurance Company clients,

Based on the decree number 144 for 2018 issued by the Financial Regulatory Authority, please be notified that new fees  will be added on all the insurance premiums (Reviewing policy forms services) with a value of 1 pound for every 1,000 pounds “ 0.1%” for all policies issued starting 1/1/2019 . This decree is effective as of 1/1/2019.

Below is a mathematical example to illustrate the value of the fees:

  • If your annual or monthly premium is EGP 50,000, the premium should read EGP 50,050.
  • If your annual or monthly premium is EGP 100,000, the premium should read EGP 100,100.

Policy Holders Protection Fund Fees

Our valuable Allianz Life Assurance Company clients,

Based on the prime Minister's decree number 2732 for 2018, a protection fund will be established for policyholders starting 1/1/2019 . This rule will maintain the safety and stability of non-banking financial markets and protect consumer rights. The policyholders’ contribution shall be 0.2% of the premiums.

The fund will guarantee that the insurance company could pay to the policy holder in case of any unforced risk.

Below is a mathematical example to illustrate the value of the tax:

  • If your annual or monthly premium is EGP 50,000, the premium should read EGP 50,100.
  • If your annual or monthly premium is EGP 100,000, the premium should read EGP 100,200.