Browse
related articles
The five unique products are: 'Secure Invest', an investment linked plan that will provide investors with 100% capital protection ; 'Executive Care', designed to protect and invest in an employer's most valuable asset, those key employees critical to the operations of an organization; 'Edu Care', intended to secure a child's future education through regular savings; 'Secure Income', an investment plan to protect family income via a secured monthly income plan and 'Smart Save', a savings plan to encourage regular saving in anticipation of future financial needs.
The flexible products can be fully tailored with ten available additional benefit options to directly meet an individual's needs and requirements. By participating in these plans, customers can also benefit from the Islamic insurance notion of surplus profit sharing. All individual family plans provide multiple currency and globally diverse investment fund options and provide worldwide coverage, should the policy holder decide to leave the UAE.
Noor Takaful's Individual Family insurance products have been designed to meet the evolving income, investment and savings protection needs of increasingly sophisticated customers, at a time when the demand for Sharia'a compliant insurance services in the UAE is increasing.
"This is the beginning of an aggressive expansion into the personal insurance market by Noor Takaful. In addition to Individual Family insurance line of products, we will be launching other high quality personal insurance offerings in the coming months that will help to minimize the impact of unforeseen events on our customers,"
said Dr. Ahmed Al Janahi, Managing Director, Noor Takaful.
Parvaiz Siddiq, CEO, Noor Takaful said: "Life is made up of a series of events that could have a significant impact on our financial situation; the birth of a child, buying a new home or joining the workforce, are all occasions that can result in taking on a new financial obligation. Our Individual Family plans or Life products are designed to make these life changing transitions easier and to provide needed help when it is most required."
Noor Takaful was launched in January 2009, following Noor Investment Group's realization of untapped opportunities for insurance and takaful products in the GCC region and beyond. The GCC Islamic insurance sector is anticipated to grow at a rate of around 20-25% per annum, according to independent industry statistics.
Headquartered in Dubai Noor Takaful Family PJSC and Noor Takaful General PJSC have a combined paid-up capital of Dhs150m. They operate initially from four locations across the Emirates of Abu Dhabi, Dubai and Sharjah, offering a comprehensive suite of general and family takaful coverage for individuals, businesses and corporate clients. The insurer aims to eventually expand the reach of these operations to cover the Middle East and North African region.
Posted by Rima Ali Al Mashni
