Many businesses rely on the talents and skills of few individuals within the organization. Their contribution to the business has a major effect on the company’s profitability. These key persons are vital to the continued success of the business. A sudden death or Total Permanent Disability (TPD) caused by an accident to them may result in a major loss to the company.
Allied introduces Key Person Insurance (KPI) to help local businesses recover the loss they may undergo following premature death or TPD of these key persons.
Company is the beneficiary under key person insurance. Sum assured is paid to the company on death of key person. This amount can be used to make up for sudden drop in profits due to his/her death. It can also be used to train another employee to replace the deceased key person. Business continuity can be ensured by using the claim amount to buy out shares of deceased partner by surviving partners. Total sum assured to cover all key persons is calculated based on company’s average profit for the last 3 years. Key Person insurance is also available for new companies.
Premiums are exempt from Goods and Services Tax resulting in saving for the company.
Our Life Insurance Customers can pay thier premiums through BML BillPAY Service. The service is currently available only for Life Insurance Customers. But we have future plans to make it easy for our general insurance customers to pay their premiums online.
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