ATC’s Group / Corporate Plans
1. AlAhli Group Care Protection Plan:
A specially designed Shari’ah compliant plan that provides financial stability to Companies/ Employers by covering the lives of their Employees whilst in active employment. The plan ensures a cash payout to the Beneficiaries/ Heirs upon the death (God forbid) of an Employee, this is the Protection Benefit, and may include other additional benefits such as Total Permanent Disability and Permanent Partial Disability.
The plan ensures that cash will be available at any time such death or disability occurs and thus eliminates the need for the Companies/ Employers to maintain reserves or special funds to cater for such unfortunate incidents at inappropriate times.
In addition, by providing such Protection Benefits, Employees are comforted in the knowledge that their loved ones will be cared for in the event of their untimely death (God forbid) whilst an Employee of such Companies and is thus a loyalty-builder tool in the hands of the Companies/ Employer(s).All benefit payments are made to the Company/ Employer, as the Policyholder, who then in turn is responsible of payment to the Beneficiaries or Heirs.
2. AlAhli Group Creditor’s Protection Plan:
A Shari’ah compliant plan designed to offer protection to Banks and similar financing/ leasing companies from suffering any loss due to the untimely death (God forbid) of its Borrowers. As for the Group Care, this plan also offers related additional benefits including but not limited to Total Permanent Disability and Permanent Partial Disability.
The benefit is usually equal to the outstanding principal amount at date of death or disability and ensures full settlement of the account of such Members thus eliminating any financial risk or loss to the Banks or similar leasing/ financing companies at such time.