Term Assurance will provide financial help to the family on the unfortunate demise of the Life Assured. Life Assured has to appoint a beneficiary, who will receive the Sum Assured upon death of Life Assured. Nothing is paid on maturity.
|Minimum Age at Entry||20 Years|
|Maximum Age at Entry||60 years old|
|Policy Term||5 – 25 Years|
|Maximum Maturity Age||65 years old|
|Minimum Sum Assured||MVR 500,000|
There are various factors which determine the premium payable. They are as follows:-
Proposal Processing Time: 1 week
In the event of unfortunate death of Life Assured before maturity, Sum Assured will be paid to beneficiary immediately.
Death Claim Processing Time: 1 month
Ahmed is 35 year old executive in a company. He takes a Term Assurance Plan for 25 years on his life for Sum Assured of MVR 500,000 and appoints his wife as beneficiary. In event of unfortunate death of Ahmed at age 50 Allied Insurance Company will pay MVR 500,000 to his beneficiary.
Individual Term Assurance Plan offers risk cover against death without any saving element. The Sum Assured is paid to the beneficiary on death of the Life Assured during term of the policy. Nothing is paid on maturity.
The plan ideally suits those people who are looking for a high insurance cover at low premium without any saving element.
Minimum Sum Assured is MVR 500,000
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 receives the high recognition of “Business of the Year Award” at Maldives Business Awards 2018. Organized by Blazon Pvt, the event was held in Paradise Island Resort with invitees from all business sectors.December 23rd, 2018
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