(Left to right) Mohammad Naseem, Assistant General Manager - Life, Arab Orient Insurance Company and Omer Hassan Elamin, Senior Managing Director - Arab Orient Insurance Company at the launch.
Arab Orient Insurance Company (AOIC), a member of the Al-Futtaim group, today launched its new range of seven life insurance products to give its customers a wide variety of options to meet their insurance needs, according to a company news release.
AOIC will offer comprehensive life assurance plans with a variety of income and death benefits that are tailored to help consumers meet their financial and insurance needs.
The new products range from basic term life plans that cover risks, conventional plans like endowment, anticipated endowment, educational plans to unit linked investment and retirement plans.
AOIC is the only fully ‘A’ rated insurance company in the UAE and one of only three in the Middle East.
The products, EduCare, FutureInvest, LifeSecure, LifeShield, LoanTrust, RewardPro and TriPlus offer adequate security that can be customized to a consumer’s requirements and premium payable in easy installments.
Omer Elamin, Senior Managing Director, Arab Orient Insurance Company while launching the products said: “We understand that customers are looking for life insurance solutions from a trusted source. We appreciate the loyalty of our customers and our goal is to provide them with comprehensive insurance solutions that meet every budget.
Mr Elamin was speaking to industry leaders at a special launch ceremony in Dubai. “At AOIC we are committed to expanding our product suite and expanding our customer base while providing exceptional levels of service. Our new life insurance products offer flexible payment options, allow customers to choose currency options and add supplementary benefits among a wide range of other benefits.” he said.
Mr. Elamin also said the market needed more such innovative products and advised the industry to stay away from complex financial products and try to keep them simple.
He said: “Simple products are not only easier for policy holders to understand, but the risks involved are also better understood by the insurers and therefore better managed. Our new products offer customers flexibility and give them control over decisions affecting the premium.
“We are confident the new life insurance products will offer something for everyone and the ultimate winner will be the policyholder and their dependents,” he added.
The new products from AOIC offer customers many benefits including worldwide coverage for GCC residents, flexible payment options, possibility to choose the currency of your choice (USD or AED), possibility to protect your plan from inflation by indexation and variable term options to choose from until the age of 70 years.
In addition, customers also can make partial withdrawals by way of loan and add a host of supplementary benefits including accidental death benefit, permanent total disability due to sickness or accident, permanent partial disability due to accident and passive war risk cover.
Source: company news release
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