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Mission
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OUIC
Individual / Group Life & Medical Products: |
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Individual Life Insurance |
Individual Life
Plans:
Level Term Plan: It is an individual life protection plan
with a fixed level of life cover, a fixed term, and a
fixed premium paid regularly or one time (single premium)
payment. Regularly, the mode of payment available is
Monthly, Quarterly, Half-Yearly & Yearly. The cover is
extended to insure the policyholder 24 hours worldwide.
The sum assured is payable only if the life insured dies
while the policy is enforced. There is no investment
element or cash value. It is a policy without profit.
Decreasing Term Plan: It is an individual life protection
plan where the level of life cover varies according to the
loan repayment. It has a fixed term and a fixed premium
that is paid regularly or one time (single premium)
payment. Regularly, the mode of payment available is
Monthly, Quarterly, Half-Yearly & Yearly. The cover is
extended to insure the policyholder 24 hours worldwide.
The sum assured is payable only if the life insured dies
while the policy is enforced. There is no investment
element or cash value. It is a policy without profit. |
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Group Life Plans |
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Group Level Term Plan:
It is a life protection plan with a fixed level of life
cover, a fixed term one year, and a fixed premium paid on
yearly basis. The cover is extended to insure the member
of the group 24 hours worldwide. The sum assured is
payable only if the life insured dies while the policy is
enforced. There is no investment element or cash value. It
is a policy without profit. Additional Benefits such as
AD, PPD, PTD, TTD and Repatriation can be added for an
extra premium. The plan is sold on stand-alone basis or
along with a Group Medical Plan. |
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Individual Medical Insurance |
Individual Medical
Plans:
RIAYA: It is an Individual Medical Plan that provides the
insured with Out-Patient and In-Patient Medical Treatment
Locally, in the Gulf Region, Lebanon, Jordan, South East
Asia and World Wide (excluding USA & Canada) only in case
of an emergency while on Annual Vacation or Business Trip.
Riaya can be sold on In-Patient basis only. The Annual
Limit is (RO) 35,000
WEKAYA: It is an Individual Medical Plan that provides the
insured with Out-Patient and In-Patient Medical Treatment
Locally i.e. Sultanate of Oman and World Wide (excluding
USA & Canada) only in case of an emergency while on Annual
Vacation or Business Trip. Wekaya can be sold on
In-Patient basis only. The Annual Limit for Wekaya (1) is
(RO) 20,000 and for Wekaya (2) is (RO) 15,000
SHEFA: It is an Individual Medical Plan that provides the
insured with Out-Patient and In-Patient Medical Treatment
Locally i.e. Sultanate of Oman and World Wide (excluding
USA & Canada) only in case of an emergency while on Annual
Vacation or Business Trip. Shefa can be sold on In-Patient
basis only. The Annual Limit for Shefa (1) is (RO) 10,000
and for Shefa (2) is (RO) 5,000. |
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Group Plans |
Group Medical Plans
Group Medical Plans: Riaya, Wekaya, and Shefa plans can
also be offered to group of people both In-Patient /
Out-Patient cover or In-Patient cover only depending on
the clients’ needs. The plans are sold on stand-alone
basis or along with a Group Life Plan and the premium is
paid on Annual basis.
Introducing a New Group Medical Plan
(Minimum number of members 20)
RAHA: It is a Medical Plan that provides the insured with
Out-Patient and In-Patient Medical Treatment Locally i.e.
Sultanate of Oman and World Wide (excluding USA & Canada)
only in case of an emergency while on Annual Vacation or
Business Trip. It can also be sold on In-Patient basis
only. The Annual Limit for Raha Plan is (RO) 2,000 per
member per year. |
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Optional Benefits |
Optional Additional
Benefits
Additional Benefits: Are Supplementary Contracts that can
be added to our Individual and Group Plans should the
Insured / Employer requests additional insurance cover or
higher sum assured to cover the following situations:
• Accidental Death Benefit (Individual &Group)
• Permanent Total Disability Accident & Sickness
(Individual &Group)
• Permanent Partial Disability Accident & Sickness (Group)
• Temporary Total Disablement Accident & Sickness (Group)
• Accident Medical Reimbursement (Group)
• Repatriation (Group) |
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