New National Bonds programme offers customers better coverage

Dubai: National Bonds Corporation has announced its e-initiative — the National Bonds Individual Takaful Cover — a takaful coverage that will be provided to all existing and new customers under a joint venture with leading takaful operator Dubai Islamic Insurance and Reinsurance Company (Aman) PSC based on a Sharia compliant takaful platform.

More than half a million customers will immediately be eligible for the National Bonds Individual Takaful Cover without any premium contribution.

Savings up to Dh10,000 will be offered cover for a maximum amount of Dh5,000, while savings from Dh10,001 to Dh250,000 will have a 50 per cent coverage of certificate value and savings for more than Dh250,000 will be covered for a maximum amount of Dh125,000.

Customers will be covered for accidental death within the first 90 days of their savings certificates issuance. However, thereafter they will be automatically covered for both accidental and natural death. This benefit is effective as of January 1, 2010 and will cease once the bondholder fully withdraws his savings with National Bonds.

Announcing this new initiative, Mohammad Qasim Al Ali, CEO of National Bonds Corporation, said: "This is the beginning of a new era in takaful positioning through our long-term strategic alliance with Aman.

"We would like to position National Bonds Corporation as a unique, high-spirited, entrepreneurial enterprise."