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.
Allied Insurance Company of the Maldives launches new pledges under CSR initiative “Green for Good”. Reaffirming commitment for an environment friendly workspace. The new pledges were launched at the Opening Ceremony of 10to10 Dive held in Angsana Ihuru by Banyan Tree Group’s Sustainability Director and Banyan Tree Global Foundation’s Coordinating Director Dr. Steve Newman.August 31st, 2019
Allied Islamic window; Ayady Takaful holds a press briefing session regarding “Distribution of Surplus” for the year 2017. As announced at Allied Special Event 2019, Ayady customers can submit claim forms till 31st March 2019, 4pm. Surplus application forms will be available online from Ayady website; www.ayady.mv as well as from Ayady Customer front office located in H.Orchid (In front of Velaanaage)February 11th, 2019
State Trading Organization plc appoints Mr. Mohamed Shafaz as the new Managing Director of Allied Insurance Company of the Maldives, effective from 31st January 2019. The appointment was made following the resignation of former Managing Director Mr. Ahmed Ameel.January 31st, 2019