The Guardian Life Insurance and BRAC signed an agreement on Wednesday to ensure financial security of the country's migrant workers by offering them and their families various benefits.
An insurance policy called 'Guardian Probashi Prohori' was unveiled at the event held at the Metropolitan Chamber of Commerce and Industry (MCCI) office at Concord Police Plaza, Gulshan.
'Guardian Probashi Prohori' is an innovative insurance policy designed to safeguard the lives and futures of workers abroad and their families, ensuring protection against financial risks.
Sheikh Rakibul Karim, FCA, chief executive officer of Guardian Life, and Arinjoy Dhar, senior director, BRAC Microfinance, signed the agreement on behalf of their respective organisations.
BRAC's Associate Director Md. Belayet Hossain, Guardian Life Director David Griffiths; Head of Microinsurance at Guardian Life Abdul Halim and other high officials from both organisations were also present at the signing ceremony.
This insurance policy offers migrant workers and their families a range of benefits for a one-time low premium.
In the event of a migrant worker's demise during employment, a notable amount will be made directly to the nominee.
Additionally, financial assistance will be provided for sending back the deceased worker's body to Bangladesh.
Guardian Life also covers hospitalisation and medical care in case the worker falls ill and offers financial aid if the migrant worker loses their job while abroad, ensuring comprehensive support for both the worker and his family.
Sheikh Rakibul Karim said, "Migrant workers are the backbone of our economy, and their safety is of paramount importance. 'Guardian Probashi Prohori' will not only reduce their life risks but also help secure their families' futures. This is another major step towards realising our 'Insurance for All' vision."
Arinjoy Dhar remarked, "Migrant workers make invaluable contributions to our country's growth, and this insurance policy is a tribute to their sacrifices. It will provide long-term financial stability and security for their families, ensuring their future is protected".
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