Family shield from OMAN INSURANCE COMPANY is primarily providing financial security for your loved ones and also ensuring a healthy return on your investments. The primary reason for saving is for your dear children for their education or marriage needs. You may also decide to provide a financial cover for your spouse, should something unfortunate happen to you.

Thus, family Shield is flexible is enough to give you the opportunity to provide financial comfort to your family against uncertainties of life.

Primary Features

• Life covered is of the parent or the main bread earner in the family, while child/spouse is the beneficiary.

• Flexibility of premium paying term of 5, 10 , & 15 years.

• Premium can be paid on flexible options of monthly/ quarterly/ semi- annual; half-yearly / annually; yearly

• Additional terminal bonus on maturity, depending on investment returns

• In the event of unfortunate death due to any cause or permanent total disability due to an accident of the policyholder, there is an in –built family income benefit and waiver of premium rider in addition to the guaranteed maturity value, to take care of and safeguard the beneficiary’s interests.

• Early withdrawals allowed subject to Surrender Value Charges, form year 3 onwards

No Medical Examination Required

• Family shield does require the policyholder to undergo a medical examination. Policy is issued based on a simple “declaration of good health”

Who can invest in Family Shield?

• Family Shield can be purchased by any parent /grandparent of a child, or the breadwinner in a family, within the age bracket of 20 to 50 years of age. However, insured age should not exceed 65 at maturity.

• In case insured’s age of entry is 50 or more, the percentage of protected maturity value shall get reduced according to age and policy term. Also, for applicants over the age 45,a simple health check-up may be required.

How do I invest in Family Shield?

Mode of payment

• Cash
• Cheque
• Credit Card

Additional Information

 

• No surrender value would be available in the 1st two policy years
• Partial surrender is not available
• The longer the policy is held to maturity, the higher would be the surrender value as a percentage of contributions
• Policyholders shall have a free look period 15 days from the date of acceptance of risk for reviewing the policy terms and conditions. In case the policy is subsequently cancelled, the premium paid will be duly refunded after adjusting for any policy issue expenses.
• Policyholder can opt for change / introduce new beneficiary at any point of time by giving written application.

Claim Acceptance

Oman Insurance will be liable for claim only after receipt of premiums and issue of the policy document.

For detailed information, please call toll free 800 4746 or email call_center@tameen.ae