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National Bonds, AMAN Launch Individual Takaful Cover

DUBAI - National Bonds Corporation PJSC has announced its unique initiative — the “National Bonds Individual Takaful Cover” — a Takaful coverage that will be provided to all existing and new customers under a joint venture with leading Takaful operator, Dubai Islamic Insurance & Reinsurance Company (AMAN) PSC based on a ShariaH compliant takaful platform.

More than half a million customers will be eligible for the “National Bonds Individual Takaful Cover” without any premium contribution. Savings up to Dh10,000 will be offered cover for a maximum amount of Dh5,000, while savings from Dh 10,001 to Dh250,000 will have 50 per cent coverage of certificate value and savings for more than Dh250,000 will be covered for a maximum amount of Dh125,000.

Customers will be covered for accidental death within the first 90 days of their savings certificates issuance. However, thereafter, they will be automatically covered for both accidental and natural death. This benefit will be effective from 1^st January 2010 and will cease once the bondholder fully withdraws his savings with
National Bonds.

Announcing this new initiative, Mohammed Qasim Al Ali, Chief Executive Officer of National Bonds Corporation PJSC said: “This is the beginning of a new era in Takaful positioning through our long term strategic alliance with Aman.We would liketopositionNational Bonds Corporation as a unique, high-spirited, entrepreneurial enterprise, a company known around the UAEfor its unmatched level of innovation and excellence”.

Louis Bruno Rochecouste, Chief Commercial Officer of National Bonds Corporation PJSC, said: “Since our inception, we have always endeavoured to offer a distinctive savings option and extended unmatched benefits to all our customers. Now, savings with National Bonds will give our customers a combination of security and savings for their future — offering additional benefit for their dependants while saving at the same time”. — business@khaleejtimes.com