Saudi Indian Company for cooperative Insurance (SICCI) a joint stock Company established in the kingdom of Saudi Arabia as per Decree No. M60 dated 18/09/1427H is promoted by: Life Insurance Corporation of India, The New India Assurance Co. Ltd., LIC (International) B.S.C©, Bahrain and Fawaz Al Hokair Group of companies.
A Savings and protection policy designed to help policyholders to plan for availability of funds at periodic intervals to meet planned and/or unplanned expenses.
A Savings and protection policy designed to help policyholders to plan for availability of funds at periodic intervals to meet planned and/or unplanned expenses.
Plan Period:
Three Options: i) 12 Years Back Plan, ii) 15 years Cash Back plan, iii) 18 years Cash Back Plan.
Benefits:
An in force policy of SR 100,000 will provide following payments at the end of the specified period.
Cash Back 12:
1. SR 20,000 on completion of 4 years from the date of commencement
2. SR 20,000 on completion of 8 years from the date of commencement
3. SR 60,000 on completion of 12 years, that is, on the date of maturity.
4. Bonus accrued on full sum assured on the date of maturity
2. SR 20,000 on completion of 8 years from the date of commencement
3. SR 60,000 on completion of 12 years, that is, on the date of maturity.
4. Bonus accrued on full sum assured on the date of maturity
Cash Back 15:
1. SR 25,000 on completion of 5 years from the date of commencement
2. SR 25,000 on completion of 10 years from the date of commencement
3. SR 50,000 on completion of 15 years, that is, on the date of maturity.
4. Bonus accrued on full sum assured on the date of maturity
2. SR 25,000 on completion of 10 years from the date of commencement
3. SR 50,000 on completion of 15 years, that is, on the date of maturity.
4. Bonus accrued on full sum assured on the date of maturity
Cash Back 18:
1. SR 25,000 on completion of 5 years from the date of commencement
2. SR 25,000 on completion of 10 years from the date of commencement
3. SR 25,000 on completion of 15 years, that is, on the date of maturity.
4. SR 25,000 on completion of 18 years, that is, on the date of maturity.
5. Bonus accrued on full sum assured on the date of maturity
2. SR 25,000 on completion of 10 years from the date of commencement
3. SR 25,000 on completion of 15 years, that is, on the date of maturity.
4. SR 25,000 on completion of 18 years, that is, on the date of maturity.
5. Bonus accrued on full sum assured on the date of maturity
Bonus:
The policy shall be entitled to simple reversionary Bonuses, provided the policy is in full force. The vested bonuses are payable at the end of the term or on earlier death of the insured along with claim amount.
Family Protection:
In the event of death of the insured at any time with in the selected term of the policy (even after the payment of cash Back installments mentioned above), life risk is covered for the Full Sum Assured to provide TOTAL Protection to family (provided the policy is in full force)
Accident Coverage:
A nominal addition to premium entitles you to a special twin accidental coverage benefit:
a) Total and Permanent Disability Coverage:
In case of total and permanent disability within 180 days an accident:
i) All future premiums are waived;
ii) An amount equal to the sum Assured (subject to maximum limit of SR500,000/0 will be paid in equal monthly installment spread over 10 years.
b) Accidental Death Coverage:
In Case the insured meets with an accident resulting in the death, an additional amount equal to sum assured, subject to the maximum limit of SR 500,000 is paid along with the claim.
a) Total and Permanent Disability Coverage:
In case of total and permanent disability within 180 days an accident:
i) All future premiums are waived;
ii) An amount equal to the sum Assured (subject to maximum limit of SR500,000/0 will be paid in equal monthly installment spread over 10 years.
b) Accidental Death Coverage:
In Case the insured meets with an accident resulting in the death, an additional amount equal to sum assured, subject to the maximum limit of SR 500,000 is paid along with the claim.
Commutation Facility provides for special; discount for making payment of premium for remaining policy in lump sum.
Limited Premium Payment Facility is available to help you to fulfill your obligation of payment of premium within a period of 5 years.
Premium can be paid in yearly, half-yearly, quarterly and monthly installments. The premiums payable for modes other than yearly mode are:
Half-yearly installment : Annual Premium x 0.51
Quarterly Installment : Annual Premium x 0.257
Monthly Installment : Annual Premium x 0.086
Limited Premium Payment Facility is available to help you to fulfill your obligation of payment of premium within a period of 5 years.
Premium can be paid in yearly, half-yearly, quarterly and monthly installments. The premiums payable for modes other than yearly mode are:
Half-yearly installment : Annual Premium x 0.51
Quarterly Installment : Annual Premium x 0.257
Monthly Installment : Annual Premium x 0.086
Rebate for High Sum Assured:
The annual Premium shall be reduced for high sum assured as below:
Sum
Assured |
Rebate per SR 1000 Sum Assured |
|
Regular |
Limited Payment |
|
SR 25,000
to 49,999 |
1.50 |
3.00 |
SR
50,000 and above |
3.00 |
4.50 |
Your Child : A Privileged Youth
Youngsters of the age 14 years & above shall have privilege to opt for cash back 15 or 18 and those of the 15 years &above can opt for cash back 12, 15 or 18.
Eligibility and other Parameters:
Minimum age at entry : 15 years (completed) for Term 12 years
14 years (completed) for 15 & 18 years
Maximum age at entry : 58 Years (nearer birthday)
55 years (completed) for 15 & 18 years
52 years (completed) for 15 & 18 years
Maximum age at Maturity : 70 Years (nearer birthday)
Premium paying terms : 12,15 and 18 years
Minimum sum assured : SR 10,000 and in Multiples of SR 1000 thereafter
Maximum sum assured : No Limit on maximum sum assured
14 years (completed) for 15 & 18 years
Maximum age at entry : 58 Years (nearer birthday)
55 years (completed) for 15 & 18 years
52 years (completed) for 15 & 18 years
Maximum age at Maturity : 70 Years (nearer birthday)
Premium paying terms : 12,15 and 18 years
Minimum sum assured : SR 10,000 and in Multiples of SR 1000 thereafter
Maximum sum assured : No Limit on maximum sum assured
How to apply?
Eligible person may contact SICCI, Corporate office at Riyadh or Branches at Riyadh, Jeddah or Al Khobar; or any member of the SICCI sales team.
The SICCI sales team will help fill in the proposal form and arrange for medical examinations (If required).
On receipt of the application (proposal form) along with proof of age, premium amount and other documents (if required), SICCI will consider issuing the policy. The policy will be effective from the date of issue of First Premium Receipt-cum-Acceptance Letter.
The SICCI sales team will help fill in the proposal form and arrange for medical examinations (If required).
On receipt of the application (proposal form) along with proof of age, premium amount and other documents (if required), SICCI will consider issuing the policy. The policy will be effective from the date of issue of First Premium Receipt-cum-Acceptance Letter.