Insurance Plans offered by RAKBANK
RAKBank is one the UAE’s biggest and most trusted financial institutions. The bank has been providing financial products and services to customers for the longest time and has garnered plenty of success over the years. RAKBank also offers insurance policies for customers in the UAE. Here we will take a brief look at the various insurance plans offered by the bank.
Customers have four options to choose from should they wish to cover their motor vehicle, viz. UIC Motor Insurance, AXA Motor Insurance, RAK Insurance and OIC Insurance. Each of these policies has been designed to offer financial cover to customers in case of accidents. Not only do the policies cover damage to the vehicle, but also cover injuries to the driver and passengers of the insured vehicle.
RAKBANK provides its customers with a comprehensive travel insurance policy that covers customers in case of cancellation of flights, medical emergencies when travelling, curtailment, personal accidents, loss of passport or baggage, delayed flights and loss of personal money.
RAKBANK has six different life insurance policies from which customers can choose depending upon their personal preferences. The three policies offered under Life Plans include Smart Term Life Insurance, FutureInvest and RAKlife Insurance. Three other plans are offered under Family Takaful, including Ameen and Ameen Plus, Hemayati Plus, Hyat Plus and Hyat Superior. The aim of these policies is to collect money over a period of time from the policyholder by means of premium, and offer financial cover to the policyholder’s dependants in case of permanent total disability to the policyholder, or his/her unfortunate death.
The four options available for customers who seek savings plans from RAKBANK include TriPlus, LifeShield, EduCare and Super Secure. Idikhar Plus is another product that is offered by the bank under Savings Takaful. Each of these products has its own features and benefits and aims at saving money for the long term in order to meet expenses such as the education of children, their marriage, etc.
The hospitalisation insurance plan from RAKBANK offers financial cover for customers in case they are hospitalised for a minimum time frame of 24 hours owing to maternity, sickness or accident. The plan is designed to help customers meet expenses associated with ambulance charges, supplementary medicines and other miscellaneous expenses.
Customers who wish to take out a home insurance policy from RAKBANK have two options to consider: Home Content Insurance and Home Comfort. Both these policies have been tailored to safeguard the policyholder’s home and the personal belongings therein. In case of natural calamities or riots or strikes, any damage or loss of property or possessions will be covered by the bank.
RAKCare is an insurance plan offered to protect customers in case they contract any of the 32 critical illnesses covered by the plan. In case the policyholder is diagnosed by any of the illnesses, he/she will receive a lump sum amount to remain financially sound to meet the expenses related to hospitalisation and care. Customers have the option to choose their cover from three options: Seven Critical Illness cover, 32 Critical Illness cover, and Seven Female Cancer cover.