Life Insurance | Arabia Insurance

Get to know more about our Life Insurance plan to shield both your family’s life, and yours.


INSURANCE COVERAGE
Life Assurance


 Life Assurance may sound like something associated with old age, something you only think about when you get older; but there is a variety of reasons for buying Life Assurance early in your working career.

Life Assurance provides you and your loved ones with financial security and protection against the financial risk associated with Death, Total and Permanent Disability, Terminal Illness, Critical Illness, or other specified unfortunate events.

Life Assurance can also help you build wealth and reach your financial goals, through the varieties of plans/products Arabia offers. 

We invite you to get to learn more about Arabia's offering, but also to get some valuable insights about Life Assurance from our FAQ's.

 

 


ARABIA LIFESTYLE

 

- How can my family survive if something happens to me?
- How can I secure an income to myself and to my family if I am caught with a long term illness or disability?
- How can I plan for my retirement?
- How can I plan for my children's College Education?

 

These are concerns that most, if not all of us, have due to the uncertainties that the future might hold.
Arabia Insurance, in order to find a solution that might reduce the impact of these uncertainties on our lives, have developed “ARABIA LIFESTYLE”, which is a unit linked,flexible Life Assurance policy that provides a guaranteed Sum Assured, the Cash Value of the policy or both, whenever they become needed.

Indeed, with Arabia Lifestyle, you can tailor, according to your needs, the plan that will protect you and your family against the unexpected events that could occur in your lifetime and, at the same time, will help you build up a capital, by offering different options of investment strategies, that can be used to cover your children's college tuition fees, or to serve as your retirement income at your golden age.

Arabia Lifestyle could be taken on a Single or Joint Life basis and the plan benefits extend from the basic Death Cover to include Terminal Illness, Total and Permanent Disability, Waiver of Premium (Any or Own / Similar Occupation) and Critical Illness where we cover 20 of the most frequent sicknesses, in addition to the Accident and the Passive War Cover

 



TERM ASSURANCE

 

Term Assurance is the simplest form of Life Assurance. It covers you during a specified period of time – in the event of the Assured’s unfortunate death. Having no savings elements renders this kind of Life Assurance more affordable to financially protect your family.

It comprises the 3 following types of covers:

 

-Level Term Assurance

-Decreasing Term Assurance

-Family Income Benefit plan

 

 

LEVEL TERM ASSURANCE

 

The Level Term Assurance is a plan that pays to the named beneficiaries/dependents a fixed amount, called Sum Assured, in the event of the Assured’s unfortunate death during a specified period of time.

 

 

DECREASING TERM ASSURANCE

 

Typically used to protect a loan repayment (car loan, personal loan, mortgage loan, etc.). This plan offers a decreasing Sum Assured equal to your outstanding loan amount, that will be used to settle your loans to your debtor (bank) in case of your unfortunate death, and therefore you will be releasing your family from the burden of your debts.

 

 

FAMILY INCOME BENEFIT PLAN

 

The Family Income Benefit is a plan designed to provide security and peace of mind to you and your dependents. In case of your unfortunate Death, this plan will pay your dependents, a fixed income for the remaining term of your policy, according to your choice of income payment frequency and amount.

 



ADDITIONAL COVERS

 

WAIVER OF PREMIUM

 

In case of Total and Permanent Disability, the company will waive all future premiums to be paid on your Life policy.

 

 

PASSIVE WAR RISK AND TERROR

 

You can add this option to include claims resulting from military, war operations and terrorist acts.

 

 

TOTAL AND PERMANENT DISABILITY

 

In case you become totally and permanently disabled, Arabia will pay an amount of money that will help you overcome the loss of your income. Total and Permanent Disability means the complete incapacity to perform either your own/similar occupation or any occupation.

 

 

ACCIDENTAL DEATH OR PERMANENT DISABILITY

 

This option allows you to increase the indemnity amounts in case of death or permanent disability resulting from an accident

 

 

CRITICAL ILLNESS COVER

 

Critical Illness Insurance helps you cover the indirect costs of suffering a serious illness like life-threatening cancer, stroke, heart attack or major organ transplant with money you can use for anything you need. Critical Illness Insurance provides money when you need it most. It can free you from worrying about finances, letting you focus on getting well.


The odds of suffering - and surviving - a critical illness are high. Critical Illness Insurance protects the increasing number of people who survive certain life threatening situations. This kind of cover:

 

- Pays the contracted Sum Assured upon the diagnosis of any of the predetermined critical illnesses, and subject to the Assured staying alive at the end of a 30 days period commencing from the diagnosis date.

- Is available as:
    1.  A rider to a Term policy
    2.  A rider to an Arabia Lifestyle policy
    3.  A standalone Arabia Lifestyle policy

- Pays, in case of unfortunate death, under 2 & 3 above, the cash value at the date of occurence

 

 

Covered illnesses:

 

Cancer

Kidney failure

Loss of speech

Stroke

Liver disease

Loss of hearing

Heart Attack

Coma

Loss of sight

Heart Valve Surgery

Alzheimer's disease

Loss of limbs

Coronary Artery disease surgery

Multiple Sclerosis

Major burns

Aorta disease surgery

Motor Neuron Surgery

HIV due to blood tranfusion

Major Organ transplant

Parkinson's disease

 


GROUP LIFE ASSURANCE

MAIN

 

Death Any Cause

 

ADDITIONAL

 

Accidental Death Benefit

 

Total Permanent Disability:

  • Due to Accident
  • Due to Sickness

 

Partial Permanent Disability:

  • Due to Accident (continental scale)
  • Due to Sickness (continental scale)

 

Temporary Total Disability / Weekly Indemnity:

  • Due to Accident
  • Due to Sickness

 

Passive War Risk cover.

  • Death
  • Total Permanent Disability
  • Partial Permanent Disability (continental scale)

 

 

Critical Illness Additional cover

 

Passive Terror Risk:

  • Death
  • Total Permanent Disability

 

Workmen’s Compensation while on Duty (Kuwait only):

  • For accidental Death
  • For Permanent Total Disability due to Accident
  • For Permanent Partial Disability due to Accident

 

Accidental Medical Expenses Reimbursement.

 

Repatriation expenses

 

Long Term Disability

 

Short Term Disability

 

SCHOOLING POLICY

 

Covers the school tuition fees for all the remaining years the student has at school in case of Death or Permanent Total Disability of the custodial parent’s within the period of contract.