"Group Thrift" Plan - Features and benefits
What is "Group Thrift" Plan?
Group Protection and Saving “Group Thrift” Plan from Aljazira Takaful is a flexible protection and saving plan that provides a financial protection for the employees of the company in which both the employer and employee make contributions on a regular basis. Individual accounts are set up for participants and benefits are based on the amounts credited to these accounts (through employee contributions and employer contributions) in addition to any investment earnings.
In the event of death or disability of the Participant, the company will pay the sum assured and the investible contribution to the Employer. The employer will pay the sum assured and the investible contribution to the eligible employee’s legal heir (spouse, children etc).
The employer will have an option to make it compulsory for its employees to participate or at a voluntary basis.
What are the Plan Benefits?*
- • Sharia Compliant product;
- • Surplus distribution;
- • Sum covered up to Saudi Riyal 3,500,000;
- • Flexible protection coverage per staff;
- • Top up payment options;
- • Proven strong service capabilities and quick claims payment turnaround time;
- • Dedicated relationship manager and team of experts on standby, to fulfill your group protection and saving needs and requirements;
- • Simple acceptance procedure with a free cover limit;
- • Flexible payment modes are available;
- • Passive war risk;
- • Terrorism risk;
What are the Additional Benefit applicable?**
- • Permanent total disability;
- • Body Repatriation;
*Subject to Terms and Conditions
** Manual underwriting is required
Group Life Protection Plan - Features and benefits
What is Group Life Protection Plan?
Do you want your employees to be more engaged, motivated and productive? Your staff is the most important assets for your company, who can make your company very successful and competitive. Aljazia Takaful offers protection for all business and industries.
Aljazira Takaful Group life protection plan is a flexible plan to protect your most important asset, which gives you and your staff peace of mind and enhance staff loyalty.
It is a plan that aims to provide appropriate financial protection to the employee's family in case of income loss due to the employee’s death, God forbid, or if he suffers from any type of disability, whether it is a total or partial disability. The Group Protection amount provided by Aljazira Takaful will provide financial protection for the employer’s staff members.
What are the Plan Benefits and features?*
- • Sharia Compliant product;
- • Surplus distribution;
- • Sum covered up to Saudi Riyal 10,000,000;
- • Flexible protection coverage per staff;
- • Proven strong service capabilities and quick claims payment turnaround time;
- • Dedicated relationship manager and team of experts on standby, to fulfill your group life protection needs and requirements;
- • Simple acceptance procedure with a free cover limit;
- • Flexible payment modes are available;
- • Passive war risk;
- • Terrorism risk;
- • In the event of death of any staff within the Policy term, benefit payable is the Sum Covered for that staff to the employer (Policyholder);
What are the Additional Benefit applicable?**
- • Permanent total disability;
- • Permanent partial disability;
- • Temporary total disability;
- • Accidental Death benefit;
- • Medical expenses resulting from an accident;
- • Body Repatriation
*Subject to Terms and Conditions
** Manual underwriting is required
Group SME Protection Plan (Aman) - Features and benefits
What is Group SME Protection Plan (Aman)?
This plan is designed to help SME(Small Medium enterprise with 10 to 100 employees) businesses to provide appropriate financial protection to the employee's family in case of income loss due to the employee’s death or disability, God forbid. The Group Protection amount provided by Aljazira Takaful will provide financial protection for the employer’s staff members.
What are the Plan Benefits and features?*
- • Sharia Compliant product;
- • Surplus distribution;
- • Sum covered up to Saudi Riyal 250,000;
- • Flexible protection coverage per staff;
- • Proven strong service capabilities and quick claims payment turnaround time;
- • Simple acceptance procedure with a free cover limit;
- • Flexible payment modes are available;
- • Passive war risk;
- • Terrorism risk;
- • In the event of death of any staff within the Policy term, benefit payable is the Sum Covered for that staff to the employer (Policyholder);
What are the Additional Benefit applicable?**
- • Permanent total disability;
- • Body Repatriation;
*Subject to Terms and Conditions
** Manual underwriting is required
"Group Credit Protection Plan" - Features and benefits
What is "Group Credit Protection Plan"?
You have helped many of your customers financially by providing them with consumer finance schemes. However, no one has control over uncertainties of life. Have you given a thought as to what if something was to happen to any participant in your consumer finance scheme? At one hand you would want to safeguard the outstanding finance amount and at the other hand, you would also want to help his family in such a difficult time. To deal with your concern, Aljazira Takaful offers you Group Credit protection plan, which provides the participant of your finance scheme with group credit life insurance protection by covering their outstanding loans, so that the needs of your financial institutions as well as the borrowers’ families looked after at an affordable cost.
Aljazira Takaful’s Group credit Protection Plan is the perfect plan for protecting your financial institution from incurring losses, if the borrowers are unable to pay, due to death or disability (God forbid).It is a plan that guarantees to your clients that their families will not have to pay the remaining debt amount, if the borrower’s income is cut off for the same reasons.
What are the Plan Benefits and features?*
- • Sharia Compliant product;
- • Surplus distribution based on pool performance;
- • Sum covered up to Saudi Riyal 15,000,000;
- • Flexible protection coverage per participant;
- • Proven strong service capabilities and quick claims payment turnaround time;
- • Dedicated relationship manager and team of experts on standby, to fulfill your group credit life needs and requirements;
- • Simple acceptance procedure with a free cover limit;
- • Flexible payment modes are available;
- • Passive war risk;
- • Terrorism risk ;
- • In the event of death of any borrower within the Policy term, benefit payable is the Sum Covered (outstanding balance of loan) for that borrower to the financial institution (Policyholder);
What are the Additional Benefit applicable?**
- • Permanent total disability;
*Subject to Terms and Conditions
** Manual underwriting is required