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LifeShield (Savings Plan)

  • LifeShield* brought to you by RAKBANK and offered by Orient Insurance PJSC, is a tailor made endowment plan that allows you the dual benefit of financial protection against unforeseen events and full sum assured on survival at the maturity of the term.
  • In the event of death of the policy holder during the policy term, the sum assured will be paid to the nominated beneficiary by Orient Insurance PJSC.

You also have an option of selecting the below additional benefits at a nominal additional premium:

  • Accidental Death Benefit: The nominated beneficiary will receive double the Sum Assured only if Accidental Death Benefit Sum Assured is equal to Basic Sum Assured
  • Permanent Total Disability (Accident & Sickness): The policy holder/ the nominated beneficiary will receive the Sum Assured subject to a maximum Sum Assured of Permanent Total Disability
  • Permanent Partial Disability: The policy holder/ the nominated beneficiary will receive Sum Assured subject to a maximum Sum Assured of Permanent Partial Disability
  • Passive War Risk: The nominated beneficiary will receive the Sum Assured value due to an unfortunate death of the Policy holder in case a passive war is declared, subject to a maximum sum assured of Passive War Risk.
  • Waiver of premium: All the future premiums will be paid by Orient Insurance PJSC in the event of establishment of death or Permanent Total Disability of the Life Assured
  • Anywhere, anytime! Worldwide coverage with benefits payable in any country
  • The policy can be owned by an individual only
  • Option to take multiple policies
  • Choice of Policy terms: 5 to 30 years
  • Choice of payment frequencies: Monthly, Quarterly, Half Yearly or Annual
  • Policy currency available: AED & USD only
  • Payment modes: Credit Card, direct debit to RAKBANK Account or Cheque
  • Hassle free Medical underwriting
  • Third-party payments allowed
  • Reinstatement is possible within 24 months without any penalty
  • Early withdrawals allowed after the 2nd policy year
  • Get Cashback! Pay your premiums with a RAKBANK Credit Card
  • RAKBANK Customers with valid UAE/ GCC Visa
  • Minimum Age at Entry: 18 Years
  • Maximum Age at Entry: 65 Years
  • Maximum Age at Maturity: 70 Years

Insurance is offered by selected Insurance Companies for RAKBANK customers and is subject to their approval. Terms and Conditions of the Insurance policy shall apply. Discounts and special offers are from specific insurance companies and are subject to applicability based on the product and insurer selected by you. This is for your information only and RAKBANK is neither responsible for, nor guarantees or warrants the quality, fitness for purpose, suitability of the Insurance being offered and does not accept any liability and will not be liable for any loss or damage arising directly or indirectly to the customer taking the Insurance. Special offers are for a limited period and may be discontinued or modified without notice.

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