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Put your family first
Your family – nothing is more important to you. Now you can save for their future and protect them at the same time, with just a click. Family Shield plus*, brought to you by RAKBANK, offered by Oman Insurance Company, is a simplified systematic Savings Plan with Life Insurance Protection. It’s the perfect combination. So go on, save easy and sleep easy.
Benefits for you and your family
- It’s an easy way to save regularly and avail life insurance protection.
- 100% Capital Guaranteed along with a guaranteed bonus at policy maturity. Subject to the Insured person's age not exceeding 55 years at policy inception.
- Provides a Possible Terminal Bonus at policy maturity
Insurance Benefits
Life Insurance benefits paid upfront in the event of a claim.
| Event | Life Insurance Cover |
|---|---|
| Natural Death | Equal to Total Basic Premium Payable |
| Accidental Death | Twice the Total Basic Premium Payable |
| Accidental Death while travelling in a Common Carrier Aircraft | Accidental Death Benefit + 18 times** of Total Basic Premium Payable |
| **limited to AED 1.5 million | |
Subsequent premiums are waived off whilst the Savings Plan continues until maturity.
Protect your family’s future
- Option to take multiple plans
- Choice of Policy terms
- Hassle free Medical underwriting
- Third-party payments allowed for spouse, parent or child, grand parents or grand children
- Reinstatement is possible up to 3 years
- Anywhere, anytime! Worldwide coverage with benefits payable in any country
- Shorter premium paying period for longer policy cover
- Purchase your policy online by using your Credit Card/Direct Debit to your RAKBANK Account. You can also pay by Cheque in case of annual premium payments
- Choice of payment frequencies: Monthly, Quarterly, Half Yearly or Annual
- Get Cashback! Pay your premiums with a RAKBANK Credit Card
- No fund management or service charges
- Early withdrawal available from the 3rd policy year
Eligibility
- UAE and GCC residents at time of policy inception
- Minimum age at entry is 18 years
- Maximum age at entry:
- For 5, 7 & 10 year Policy Terms: Age 60
- For a 15 year Policy Term: Age 55
- Maximum age at policy maturity is 70 years
