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Marriage Program Details

 

 

   

The marriage program is a financial solution that will help you save money for your son's marriage by providing insurance protection, including exemption from payment of premiums in case of your absence.

Minimum Age at Entry

18

Maximum Age at Entry

65

Maximum Age at Maturity

70

Minimum Term (Years)

5

Maximum Term (Years)

18

 

Minimum Premium (Monthly)

SAR 500

Basic Death Benefit

The company will pay the modal regular premiums under the policy on behalf of the policyholder from date of death until the maturity date.

Beneficiary(ies)

Shall mean the last person or persons appointed in the prescribed manner by the policyholder before death of the covered member to receive the death and/or other supplementary rider benefits.

Amount of Benefit in the Maturity Date

The amount equal to the value of the policyholders’ investment account

Additional Benefits / Riders

•    Death due to accident,
•    Permanent total disability due to accident and / or  sickness
•    Critical illness 
•    Waiver of premium due to permanent total disability)
Surrender Charge 100% of the fund value during the first 24 months

 

Investment Strategies Option

· Growth oriented 
· Balanced portfolio 
· Protection oriented 

 

(*) There is ( 3 ) choices of investment strategies  :

 

1.    Growth Oriented Strategy (GOS): This is a high risk strategy and will be mainly focused on risky but high yielding funds with possibly significant exposure to equity market

2.    Balanced Portfolio Strategy (BPS): This is a medium risk strategy and will be a mixture of defensive and aggressive strategy.
3.    Protection Oriented Strategy (POS): This is a low risk strategy and will be a defensive strategy with bulk of the investment in secure low-yielding funds.


•    Investment charge applied as a percentage of the balance in the policyholders’ investment account
•    The unit prices quoted to the policyholder would  always be net of the investment management charge  

 

Investment strategies are managed by the Alinma Investment Company, through a private agreement for the management of investment funds allocated to it. For additional information about the Alinma Investment Company, please visit their website   www.alinmainvest.com