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Modern Exchange pays free insurance for deceased customers

8 Mar 2021

As part of its corporate social responsibility, Modern Exchange Co (MEC) recently distributed insurance to the relatives of its deceased customers.  

As per a statement, the exchange house disbursed free insurance amounting to RO3,750 equivalent to R712,500 to the relatives of three deceased customers at the Indian Social Club Malayalam Wing office in Muscat.  

The move reiterated MEC’s continued support, love and concern towards its customers and their dear and near ones in India.  

Philip Koshy, general manager of Modern Exchange, said, “We started providing free insurance to our customers in 2013 and will continue to do so in years to come for our valued customers.” 

Koshy said that giving free insurance to customers is a way of expressing their love and thanks to the customers for their loyalty.  

He added, “We provide free insurance coverage of RO1,250 to all customer irrespective of their nationality. This insurance guards the families against an unfortunate event that happens to the sole breadwinner which includes normal death, accidental death and permanent disability.  

“The company believes that its relationship with customers goes beyond the remittance to reach their dear ones during their happy and sad moments of life.” 

Cheques for the insurance amount were handed over to relatives of the late Amarjit Kumar Singh , the late Noushad Vannery and the late Baba Deen by Abraham Mathew, convenor, Sreekumar P, co-convenor of Indian Social Club Malayalam Wing, and Koshy. 

Modern Exchange serves customers and their dear ones through its 34 branches strategically located across sultanate while the MEC online and mobile app adds to its might. 

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