500 Kd Fee For 60 Plus Insurance; More Insurance Companies Can Participate; Online Renewal

According to the latest decision by the Insurance Regulatory Unit, more companies can provide insurance to the expatriates of 60 years and above without university degree in order to renew their residency. The insurance premium is set as 500 KD. With an addition of 3.5 KD as expenses charge. The total cost for insurance will be 503.5 Kuwaiti Dinar.

The decision state that the companies eligible for the approved list must be a Kuwaiti shareholding company licensed by the Insurance Regulatory Unit to carry out insurance business. Earlier it was reported that only those companies who are listed on Kuwait stock exchange are approved to provide insurance, however this decision will allow more companies to provide the insurance to expatriates of 60 years and above.

According to reports, around 20 companies will be able to provide this insurance.

Meanwhile, the Public Authority for Manpower has officially announced the steps to renew a work permit for those aged 60 years and over without university degree.

The renewal is online at the authority’s official website www.manpower.gov.kw. Companies can login to this website and renew the work permits after uploading all relevant documents.

 

 

 

SOURCE  IIK

Comments Post Comment

Leave a Comment

Submit