New Financial Security for Retirees: Installment-Based Supplementary Insurance Launched on REFAH Bank Welfare Cards
In a significant move to enhance social welfare, REFAH Bank, a cornerstone of financial services for Iran’s workforce and retirees, has announced a strategic partnership with Ta’avon Insurance Company. This collaboration marks a pivotal step in creating an integrated financial ecosystem, designed to provide comprehensive support and greater financial security for its beneficiaries.
A Strategic Partnership for Public Welfare
The agreement, solidified in a high-level meeting between the senior executives of both institutions, is built on shared objectives of elevating social welfare and establishing robust financial safety nets. Dr. Esmail Lalehgani, CEO of REFAH Bank, emphasized the critical role of insurance in providing financial and psychological peace of mind, affirming the bank’s full support for the implementation of this initiative.
This partnership is positioned as a potential model for future bank-insurance integrations within the country’s financial sector, showcasing a commitment to innovative public service.
Integrated Services: Key Benefits for Retirees and Beneficiaries
The core of this agreement allows REFAH Bank’s vast customer base, including retirees and social security pensioners, to access Ta’avon Insurance’s full suite of services. The key offerings include:
- Supplementary Health Insurance: Extensive coverage for medical and hospitalization costs.
- Group Life and Accident Insurance: Financial protection against life’s unforeseen risks.
- Property and Fire Insurance: Safeguarding personal and family assets.
- Installment-Based Premiums: A flagship feature enabling customers to pay for their insurance policies in manageable installments directly through their REFAH Bank welfare cards, eliminating the burden of lump-sum payments.
In a reciprocal arrangement, Ta’avon Insurance will utilize REFAH Bank’s welfare cards for its own clients, simplifying their access to banking facilities.
A Forward-Looking Model for Financial Security
Seyed Rouhollah Alipour Yazdi, CEO of Ta’avon Insurance, described the cooperation as a golden opportunity to expand services and better serve the public, highlighting his company’s modern programs for a bright future.
This synergy goes beyond a simple agreement, creating a holistic system that seamlessly blends banking and insurance. The primary advantages are:
- Enhanced Financial Security: Easy access to group insurance plans provides workers and retirees with comprehensive coverage.
- Facilitated Payments: The installment payment option via the welfare card prevents immediate financial strain.
- Strengthened Public Trust: The collaboration between two major institutions builds a positive image of integrated financial services.
Owned by workers and retirees themselves, REFAH Bank has focused on innovation beyond traditional services, viewing this partnership as a step toward realizing these modern goals. Both parties have expressed readiness for future joint projects in social responsibility, which could lead to the development of novel services like digital insurance and hybrid facilities.
This “bank-insurance” model, leveraging the mutual capacities of both institutions, is set to not only strengthen their market position but also bring greater peace of mind to Iran’s workforce and retiree community.
For more information, please visit the official websites of REFAH Bank (www.refah-bank.ir) or Ta’avon Insurance.
