Dubai Islamic Insurance and Reinsurance Company AMAN has launched a new family of healthcare-cover packages for United Arab Emirates (UAE) clients. The company's products are the first major Islamic health insurance offerings in the UAE.
AMAN is offering Family Takaful in all classes of insurance. Five schemes are offered, giving a variety of geographical coverage and service levels. AMAN provides a bespoke service that organizations can adapt to their existing corporate structures rather than developing individual policies case-by-case.
Of the five plans, top-of-the-range Al-Shamel is designed for senior management executives. It offers worldwide coverage, excluding US and Canada, and up to one million Emirati dirhams ($272,271) cover per policy per year. Wiqaya offers similar worldwide coverage. While comprehensive, it is more affordable, with a cover limit of Dh 500,000.
In its capacity as a fund manager for policyholders, AMAN invests the insurance premiums on their behalf, through the Islamic mechanism of mudaraba, distributing the profits that accrue on an annual basis, the amount being determined by the company's operating results.
AMAN's investment and insurance activities are conducted according to the Shariah, under the supervision of a Fatwa and Shariah Board whose members are specialists in Islamic economics and Shariah transactions. — (menareport.com)
© 2003 Mena Report (www.menareport.com)
