UAE launches 50 fils a day Islamic Insurance plan

UAE — National Bonds Corporation, the leading Shariah-compliant saving scheme in the UAE, has announced the launch of a diverse range of Islamic insurance plans starting from 50 fils a day, the company said in a statement Thursday.

The plans, which are designed to provide lifestyle protection, offer up to one million dirham cover and are structured to safeguard customers and their loved ones against accidents, critical illness, disabilities and death. The comprehensive insurance plans provide support for all members of the family across a wide range of difficult situations, ensuring that their families will be able to cope with any financial hardship if the customers are no longer there to take care of them.

The Shariah-compliant ‘Family Financial Protection Plans’, are underwritten by Abu Dhabi National Takaful Company, one of the region’s leading Islamic insurance (Takaful) companies, and distributed without the provision of any medical examinations thus offering customers the convenience of simple and quick enrollment.

Mohammed Qasim Al Ali, CEO of National Bonds Corporation, said: “National Bonds has always prioritised customers’ needs and focused on the importance of their financial security in case of unexpected events. With this in mind, we constantly aim to provide our customers with various offerings that will give them peace of mind when planning their future.”

Parents can secure the educational future of their children should any accident happen to the caretaker with the “Child Education Continuity Plan” under which the child’s educational expenses will be covered for up to five years on an annual basis with a maximum allowance of Dh200,000, while females can benefit from a protection plan against a first diagnosis of Breast Cancer with a coverage plan up to Dh200,000, covering treatments and medical expenses if they sign up for the “Female Care Protection Plan.”

Moreover, family caretakers can safeguard their families’ future with the “Family Income Protection Plan” which ensures their families continue to receive a monthly source of income in case of any accident to the caretaker. The plan offers three protection options under which the benefit will be paid as a monthly income per month for one year with a maximum total cover of Dh240,000.

The Maid’s Accident Protection Plan will ensure that the sponsored domestic help of the customer is protected against death due to accident, disability due to accident, emergency hospital and surgical expenses due to accident and repatriations expenses up to the benefit limits of the plan with a maximum cover of Dh35,000. — Agencies