Insurance Plans offered by Mashreq
Mashreq Bank is one of the leading providers of financial products and services in the UAE, and its provision of general and life insurance products has increases its popularity in the Middle East. Here we will take a brief look at the various insurance policies offered by the bank.
Mashreq Bank General Insurance Plans
- Personal Accident Insurance
- Car Insurance
- Personal Belongings and Home Contents Insurance
- Travel Smart Insurance
- CritiCare Insurance
- Medical Insurance
A comprehensive insurance product for personal accidents, Smart Protector is tailored to ensure that the financial well-being of the policyholder’s family is protected in case of the assured’s death, disability or accidental injury.
Mashreq Bank’s car insurance policy provides financial cover to policyholders in case of motor accidents. If the vehicle takes over seven days to be repaired, the customer can hire a car for the same period following an accident. The policy covers injuries to the driver as well as passengers.
A comprehensive policy to cover the contents of a policyholder’s home, Home Comfort offers coverage against all types of hazards like burglary, flood, fire, cyclone, terrorism, earthquake and storms. Home Comfort is ideal for both homeowners as well as tenants and the premium payments are flexible and depend upon the financial capacity of the policyholder.
Customers can now travel in peace and without any hassles as Mashreq Bank’s travel insurance plan safeguards the policyholder and his/her family from unforeseen circumstances. Extensive protection is offered for the customer’s belongings, their travel arrangements and their liability.
CritiCare is an insurance policy that covers the policyholder in case he/she suffers from a critical illness such as cancer, stroke or heart attack. There are 32 illnesses that are covered under this plan, and the policyholder receives a lump sum amount upon diagnosis. The goal of the policy is to offer the customer with the financial support required to avail the right kind of treatment in an effort to improve the health and physical condition of the customer.
This policy can be taken out by making equal premium payments on your Mashreq Credit Card at zero charges or interest. The bank has tied up with a number of medical institutions that provide their services to the customer in case of illnesses.
- Term Life Insurance
- Whole of Life Insurance
- Medium Term Savings
- Long Term Savings
This policy is designed to provide a peace of mind as well as financial protection to the policyholder and his/her dependants. It is a fixed-term policy that guarantees a cash sum upon maturity. The term and cover can be chosen based on the preferences of the customer and additional protection can also be availed in case of permanent total disability and critical illness.
Whole of Life Insurance from Mashreq Bank is a policy designed to offer benefits to the beneficiaries of the policyholder in case of his/her death. Customers can choose between regular or single premium payment options and enjoy life cover and independent benefits. Additional benefits such as critical illness, waiver of premium and family income benefit can also be availed.
As the name of the policy suggests, the Medium Term Savings plan from Mashreq Bank aims to improve the policyholder’s returns on investment over the medium term. Premium payment options are flexible and contributions can be made at the discretion of the policyholder. Customers can also make periodic withdrawals at any time they wish, and payments can be received on an annual, half-yearly, quarterly or monthly basis.
Mashreq Bank’s Long Term Savings plan helps customers meet important milestones like savings for their dream home, the education requirements or marriage of their children and even their retirement planning. Customers who are planning to save money for their long-term goals can find this policy very useful for their financial requirements in the future.