To provide benefits in the unfortunate event of accidental death or disability

Dubai Islamic Bank (DIB) has launched an accidental death and disability insurance plan Al Islami Takaful Riayati. The Sharia-compliant product is underwritten by Salama-Islamic Arab Insurance Company, and complements the bank’s existing portfolio of diverse products and services.

The company claims that its new product provides benefits in the unfortunate event of accidental death or disability, with annual contributions payable at just AED250 for an individual, and AED400 for a plan holder plus spouse.

DIB said that its new product covers family benefit of AED100,000 in the event of accidental death, or permanent total or partial disability caused by an accident.

In addition, plan holders are eligible for weekly benefits in the unfortunate event of temporary total disability due to an accident, and the reimbursement of medical expenses.

Adnan Chilwan, chief of retail and business banking at Dubai Islamic Bank, said: “We are very pleased that the Al Islami Takaful Riayati product provides just that – peace of mind at a price that is easily affordable. Al Islami Takaful Riayati has been designed keeping everyone in mind. Therefore, it is not only affordable, but also extremely simple and convenient.”