Source: Business News Americas

Original article available here. 

BOLIVIA,  May 22 –  Bolivia’s BancoSol and the local unit of Switzerland’s Zurich have teamed up to offer an insurance product for Bolivian emigrants, local paper Los Tiempos reported. 

The product targets the country’s emigrants in Spain, where a large number of Bolivians live and where BancoSol has a branch, the paper reported.

The insurance pays lump sum benefits in the case of death, as well as covering repatriation costs and school costs.

Zurich Boliviana de Seguros is offering four options for this product, with annual costs of US$57, US$86 and US$100, according to the paper, which did not provide the cost for the most expensive option.

BancoSol is the country’s largest microfinance bank in terms of clients, serving some 115,542 customers as of end-March, according to Bolivia’s microfinance institution association Asofin.