Group Life Insurance policy is taken by employer to cover lives of his employees. It can be included in employee welfare package to attract talented employees and retain them in service.
Sum Assured (MVR): 50,000 / 100,000 / 150,000 per member.
Period of Coverage: One year from commencement (renewable every year).
Who are Covered: Local & Expatriate employees
Annual Premium: Premium per member is shown in excel sheet attached.
Policy Documentation: Allied will issue a master policy covering all members admitted to the scheme.
Coverage Details: In event of unfortunate death of member due to natural or accidental causes Allied Insurance will pay Sum Assured (MVR 50,000 / 100,000 / 150,000) to the company for benefit of beneficiary appointed by deceased member.
Coverage of Exit and New Entrants: Members who join the scheme after commencement date will be automatically admitted into the scheme. Annual premium will be calculated on proportionate basis e.g. For a Sum Assured of MVR 100,00 a member aged 30 years joining the scheme after 3 months, annual premium for his age = 180, premium payable = 9/12*180 = 135.00. Similarly for members who leave premium will be refunded proportionately.
Documents Required: Statement mentioning name, date of birth, date of joining, ID / Passport No. for each member
Claim Payment: In event of unfortunate death of a member due to natural or accidental causes Allied Insurance will pay claim amount (MVR 50,000 / 100,000 / 150,000) to the company who will in turn pay this amount to beneficiary appointed by member.
Claim Submission: In event of a claim the company will submit letter intimating death of member, death certificate, and police reports (in case of accidental death) or any other document requested by Allied Insurance.
Islamic window of Allied Insurance Company Ayady Takaful wins the prestigious IFFSA Gold awards at the 3rd Islamic Finance Forum of South Asian Region, held in Sri-Lanka on 23rd October 2018. The Gold Award was presented to General Manager of Ayady Takaful Mr.Firushan Ibrahim, as an acknowledgement for the invaluable contributions by Ayady Takaful for the Islamic Financial sector.October 24th, 2018
Allied Insurance Company of the Maldives extends financial support for Jamaluddin School Digitalization Program, Imaduddin School Digitalization Program and Ghiyasuddin School Raspberry-pi Extension Project, under its CSR initiative; Premium for Good.August 27th, 2018
At a press conference held in Malahini Kuda Bandos Resort, Allied Insurance Company announces Gold Partnership with Malahini for the 2nd edition of Malahini Sandy Mission.August 1st, 2018