Introducing Super Secure - brought to you by RAKBANK and offered by Union Insurance Company P.S.C Super Secure is a Unit Linked Insurance Policy that provides you with an opportunity to manage your savings requirement with a choice of protection benefits for single or joint lives.
Built in Benefits
- Death Benefit: This benefit provides a lump sum payment in the event of death to the nominated Beneficiary. You have two options available to choose the Death Benefit.
- 101% of Fund Value
- Choose your own Benefit amount (From AED 18,400 to AED 36.8 Mio)
- Passive War Risk: The nominated beneficiary will receive the Death Benefit if the life assured gets killed, disabled, or injured by an event such as war, terrorism, riot of some sort or another; as long as he/she is an innocent bystander. The Countries of Afghanistan, Iraq, Syria and Yemen are excluded from this benefit.
You also have the opportunity to enhance your protection with the following optional benefits:
- Waiver of Premium Benefit (in event of Permanent Total Disability): This Benefit waives regular premiums if the life assured becomes permanently and totally disabled for any Occupation as a result of accident or sickness.
- Waiver of Premium Benefit (in event of Involuntary Loss of Employment): This Benefit waives regular premiums and is subject to a maximum of USD 1,300/ AED 4,784 per month for a period of 12 months in event of involuntary loss of employment of the Life assured.
- Accelerated Critical Illness Benefit: This benefit provides a lump sum amount in event life assured is diagnosed with any of the 40 critical illnesses specified in the Policy terms and conditions.
- Family Income Benefit (in event of Critical Illness): This benefit provides fixed income benefit to the life assured for the remaining benefit term (1 to 40 years) chosen by the Life Assured at the Policy Commencement Date or Policy term, whichever is lower in event life assured is diagnosed with any of the 40 Critical Illnesses specified in the Policy terms and conditions.
- Hospital Cash Benefit: USD 68 /AED 250 will be paid for each day of hospitalization for a maximum of 30 days per policy year.
- Financial Assistance Benefit: (Applicable for Married couple – Joint Life Policy) This benefit provides a sum of AED 10,000 to both Husband and Wife as Financial assistance benefit in event of legal separation.
Other Salient Features
- Policy can be offered to a Single or a Joint Life
- Worldwide Coverage
- Limited Premium Payment Term of 3 years or above
- Payment Frequency: Monthly, Quarterly, Semi-Annually and Annually
- Payment Methods: Direct Debit from RAKBANK Account or by Credit Card
- Policy Currency: AED and USD
- Bonuses available: Upfront Bonus and Loyalty additions.
- RAKBANK Customers holding a valid UAE visa at the time of applying
- UAE Nationals
- UAE Residents
- Eligible age group for entry into the Policy is 18 years to 60 years
- Maximum age at maturity is 70 years
Insurance is offered by Union Insurance Company (P.S.C) for RAKBANK customers and is subject to their approval. Terms and Conditions of the Insurance Policy shall apply. 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.