Individual Term Plan

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Individual Term Plan

Cherish your family and nurture their lifestyle with ahlibank’s Individual Term Plan

Your family’s security has and will always be your primary responsibility; you are also obliged, in many a way, to provide them with a quality lifestyle. And, as long as you continue to contribute towards your family’s secure future, you will live a happy and content life.

With affordable prices starting from OMR 24, and with the plan open for everyone aged between 18 and 54 years, the Individual Term Plan is suitable for ahlibank customers.

Comprehensive Protection Plan

Death due to any cause and includes death due to COVID-19;
Death – Cost of coffin, embalming, airfare for deceased;
Permanent total disability (accident) – cost of airfare for life assured;
Permanent partial disability due to accident;
Permanent total disability due to an accident;
Total and temporary disability due to an accident; and
Hospitalization expenses: the costs of hospitalization after being hospitalized due to an accident

Within Oman

Premium will be calculated based on the sum assured; and
Sum assured will be chosen between OMR 5,000 and OMR 30,000

Policy Limit

- OMR 5,000
- OMR 10,000
- OMR 15,000
- OMR 20,000
- OMR 25,000
- OMR 30,000

FAQs

What is the Individual Term Life Plan?

A comprehensive life protection plan with covers of Covid-19 death claim & below additional benefits:

Death- cost of coffin, embalming, airfare for deceased.
Permanent total disability (accident) – Cost of airfare for life assured.
Permanent partial disability due to accident.
Total and temporary disability due to an accident.
Hospitalization expenses: the costs of hospitalization after being hospitalized due to an accident.

Who can be covered in this plan?

If you are from age of 18 to 54 you can easily buy this plan.

Is the Individual Term Plan Insurance compulsory for ahlibank customers?

No, is a voluntary insurance plan; you can choose to buy the insurance plan.

Is the Individual Term Plan Insurance applicable worldwide?

No, only within Oman.

Do I need to undergo any medical tests in order to buy the plan?

No need to undergo any medical tests, just you need to fill medical questionnaires for the plan.

Is there a waiting period before my coverage begins?

There is a waiting period of 60 days for claims related to death due to sickness.

Can I start my insurance today?

Yes, the insurance can start with immediate effect as soon as you pay the premium.

Can I choose the amount of insurance cover I want?

Sum assured chosen should be between OMR 5,000/- and up to OMR 30,000/-

How many years of cover would I receive?

The insurance coverage will last for 1 year from policy commencement. However, the policyholder will have the option to renew the policy for up to 5 years.

Can I surrender the policy and receive a refund?

There is no refund applicable. However, there is a free look period of 30 days within which a full refund is possible.

When will I receive my policy documents?

The original policy schedule along with the terms and conditions booklet will immediately be handed over to you at the point of sale.

How will my dependents or I make a claim against the policy?

Visit Dhofar Insurance Company for claims. DIC Timing: 8:00 a.m to 5:00 p.m (Sunday to Thursday) as DIC have the largest network more than 40 Branches.

Disclaimer

Individual Term Plan Insurance is a contract between the customer and Dhofar Insurance Company and not ahlibank.

ahlibank shall not be responsible for the action or decisions of Dhofar Insurance Company, nor shall ahlibank be liable for payment of claims or service under this coverage.

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