OAB, Al Madina Gulf launch life insurance product |
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MUSCAT -- Oman Arab BankOman Arab Bank
, one of the leading banks in Oman has launched yet another insurance product in partnership with one of the fastest growing insurance companies in Oman, Al Madina Gulf InsuranceAl Madina Gulf Insurance under the brand name of 'Al Musaned'. 'Al Musaned' is a unique insurance product available through the banking platform of OABOAB. 'Al Musaned' provides account holders of OABOAB an insurance protection at a very affordable price through any of Oman Arab BankOman Arab Bank's branches across the Sultanate.
"It will now be possible for the customers of OABOAB to plan the future and get the peace of mind by giving protection to their family and loved ones. Customers can avail from a range of options available and will have the flexibility of premium payments either monthly or yearly for better financial Management," pointed out Abdul Kader Askalan, CEO of Oman Arab BankOman Arab Bank.
Describing this as a key initiative, AMGIAMGI Chief Executive Officer, Ravi Shankar said, "The hallmark of this product would be the ease with which the customer can obtain this policy by signing a simplified proposal form. The product offers vital insurance protection at a very low and affordable price." 'Al Musaned' will provide indemnity in the event of death of the account holder and/or spouse due to any natural and accidental cause, subject to the limits chosen. This product provides ease of administration, customer convenience and most importantly affordable price plan.
Rashad al Shaikh, Head of Retail Marketing and Business development, Oman Arab BankOman Arab Bank added, "The partnership between Oman Arab BankOman Arab Bank and AMGIAMGI will bring financial security to a large number of families in Oman. This product is expected to meet the demand for a straight forward and affordable insurance cover against accidental or natural death in the family."
Oman Arab BankOman Arab Bank is part of the Arab Bank Group with over 400 branches worldwide and Al Madina Gulf InsuranceAl Madina Gulf Insurance Co SAOC is a composite insurance company offering wide variety of products. The convergence and melding of the strengths of Al Madina Gulf InsuranceAl Madina Gulf Insurance and Oman Arab BankOman Arab Bank is expected to give boost to the family insurance protection concept and will provide a very good opportunity to many families to have security, protection and peace of mind.
By Staff Reporter
© Oman Daily Observer 2009
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