Oman Insurance launches Spectra and Spectra Plus endowment plans

In light of the above, Mr. Abdul Muttalib Mustafa Al Jaidi, CEO - Oman Insurance Company said:

"One of the most key benefit included within our new endowment plans, Spectra and Spectra Plus is the guarantee of the face value and annual dividend payout. In addition, upon the expiry of the plans' period, the customer will get 100% of the face amount plus dividends."

Speaking about the methods of payment, Mr. Jaidi said "The plans provide a flexible and comfortable system of payments where customers are able to choose from more than one option ranging between 1 to 5 years.

"We carefully structured the plans so as to ensure maximum safety for our clients and provide them with a profitable advantage at the same time. Based on our experience in the UAE market since 1975, we were able to recognize and understand the special characteristics of the market, which allowed us to provide high quality services that come in line with market needs," he added.

The plans spectra& spectra plus offer global life insurance coverage and global payout. Amongst the unique features of the products are inclusion of all sorts of conceivable riders namely, Accident Benefit Rider, Accidental dismemberment rider, Accident indemnity benefits rider, Waiver of premium rider, Payer's benefit rider and Critical illness rider covering 40 major diseases - highest ever in the region.

Mr. Jaidi mentioned "With the launch of this new product series, Oman Insurance Company expects an increase in its market share in the Individual Life Business Segment.

The key USPs of for Spectra and Spectra Plus Endowment plans are:

• Global Remittance Facility
• Critical Illness Coverage rider for 40 diseases (the highest ever in the region)
• 100% sum assured
• 100% life covered
• Flexible premium payment terms


The payment terms for these plans are also very flexible and convenient. Customers have the choice of options ranging between 1 to 10 years. Also the convenience offered during refunds to family or relevant parties at time death or disability make these plans worth investing.