Authorized by
Insurance Authority
Why should I buy a Protection and Savings Insurance?
We all have goals in life. By saving a portion of our income, we can secure these goals and ensure their protection in the event of death, God forbid, through the protection amount specified in the policy, which is given to the beneficiaries to achieve these goals.
Applicant
The person who applies to purchase the insurance policy. They choose the insurance plan, provide the necessary information, and pay the required contribution. They can also make amendments to the insurance policy.Covered Member
The individual insured against the specified risks and who benefits from the savings opportunities in protection and savings products. The applicant can also be the covered member.Beneficiary
The person or entity that will benefit from the insurance in case of the covered member's death. The beneficiary is usually designated when purchasing the insurance policy and receives the financial benefits related to the insurance in case of the covered member's death.Sum Covered
The amount insured within the policy. It is the amount that will be paid to the beneficiary in the event of the covered member's death.Payment Frequency
How often the contribution is paid. This can be monthly, quarterly, semi-annually, or annually, as agreed with the insurance company.Investment Strategy
The plan to be followed to increase the value of the paid contributions. This strategy includes choosing the appropriate investment funds.Illustrative Tables
Tables that show how the financial value develops over the years of the policy. This includes details about the extent of coverage and how contributions are distributed over different periods. This helps to clarify how the policy performs over time and what can be expected from it.