Individual Life Insurance

However we may be well prepared for the future, without an adequate, thoughtful & comprehensive life insurance policy, one of the most fundamental pillars of a sound financial strategy will be missing. Life Insurance in its many forms is designed to provide those who depend on a loved one to find sanctuary when this loved one is incapacitated in one way or another & is unable to provide for the dependents.

Warba Insurance offers a range of options from its Individual Life Insurance portfolio that caters to a varying set of challenges that one faces today & in the future to provide dependents with the security & peace of mind that is rarely present in case of unfortunate risk of the earning member of the family.

Our products in this segment are:

Domestic Helpers Policy

Purpose

To provide life insurance coverage along with personal accident for expatriate domestic workers in one package for the duration of the contract -two years from the date of entry to the country.

Brief write-up

Embassies of certain nationality have made it mandatory to issue insurance policy prior to the entry into state of kuwait or whilst on travel to home land (vacation). Sponsors of the domestic helper also are protected against compensations in case of unexpected death or injury whilst in employment with him.
Benefits

  • life benefits- death due to any cause;

personal accident benefits- accidental death

      permanent total disability due to accidentpermanent total disability due to sicknesspermanent partial disability due to accidentpermanent partial disability due to sicknessmedical expenses due to accidentrepatriation benefits

Coverage

Life benefits:

Death due to any cause : sum assured of fixed sum as required by the client- say 2000 or 5000.

Personal accident benefits:

Accidental death : sum assured of fixed sum as required by the client- say 2000 or 5000

Permanent total disability due to accident : sum assured of fixed sum as required by the client- say 2000 or 5000

Permanent total disability due to sickness : sum assured of fixed sum as required by the client- say 2000 or 5000

Permanent partial disability due to accident: % of sum assured of fixed sum as required by the client- say 2000 or 5000

Permanent partial disability due to sickness : % of sum assured of fixed sum as required by the client- say 2000 or 5000

Medical expenses due to accident :actual expenses subject to maximum of 10% of sum assure or kd.1000/

Repatriation benefits :
Actual expenses subject to maximum kd.500/-

Endowment Assurance Plan

Policy Purpose
To provide savings benefit as well as family protection.

Brief Write Up
The policy is a systemic long term savings plan where at maturity will give the agreed amount with profits at the end of the policy period, at the same time provides peace of mind towards family security in case any unfortunate death during the term.

Benefits
1. Agreed amount at maturity; with vested bonus.
2. Agreed amount at maturity with vested bonus in case of any unfortunate death of policy holder.

Coverage
Death due to any cause

Education Plus

Policy Purpose
To provide funds for university education expenses for the children of the insured

Brief Write-up
This policy is a systemic long term targeted savings plan to help parents plan for the inevitable graduation of their children from higher education institutions. It provides for coverage of expected college education fees at the time when the children are of younger age, so when it is time to choose the place to plan for your children’s future it is the right place

Benefits
1. Basic Amount along with vested bonus either in one payment or in five equal installments.
2.In case of death of insured parent – all future premiums are waived.
-1% of basic amount is payable monthly till end of term
-Full basic amount with vested bonus at end of term.

Coverage
1.Death due to any cause
2.Family income benefit
3.Waiver of remaining premium.

Joint Life Endowment Assurance Plan

Policy Purpose
To provide savings benefit as well as family protection in the form of a single policy that covers two persons in the form of a husband & wife or two partners.

Brief Write-Up
The policy is a savings & protection oriented plan for a husband & wife or two partners in one policy; in case of the death of either of the partners, the other is entitled to the policy amount which can be used in many ways like purchase of the shares of the deceased or financial security for the family.

Benefits
1. Full basic agreed amount with vested bonus at maturity.
2.Full basic agreed amount with vested bonus at the death of one of the policy holders before to end of term.

Coverage
Death due to any/all cause

Three Payment Plan

Policy Purpose
For individuals who wish to plan for their future income needs.

Brief Write-Up
The policy provies perodic pay backs but at the same times gives full basic amount as Family Protection throughout the term of the policy.

Benefits
1. Money back on regular intervals
2.Full amount with vested bonus on death of the policy holder during the term.

Coverage
Death due to any cause

Three Payment Special Plan

Policy Purpose
For individuals who wish to plan for their future income needs and provide high protection for their families.

Brief Write-Up
The policy provides periodic pay backs but at the same time gives double the basic amount as Family protection throughout the term of the policy.

Benefits
1. Money back on regular intervals
2.Double the basic amount on death of the policy holder during the term.

Coverage
Death due to any cause

Pure Endowment Plan

Policy Purpose
A straight forward savings plan for individuals who wish to make regular savings on their own for their future.

Brief Write-Up
For individuals who do not wish to have life coverage in case of an event, but only need savings benefit at the end of the term of the policy.

Benefits
Full basic amount with vested bonus at the end of the policy term

Coverage
No life coverage

Loan Protection Plan

Policy Purpose
To protect the family against the liability of an outstanding loan amount in case of death of policy holder.

Brief Write-Up
For individuals, who would like to protect their families against loan liabilities in case of death.

Benefits
Basic amount decreasing by equal amount every year.

Coverage
Death due to any cause

Critical Care 33

Policy Purpose
Provide coverage to 33 Critical illness such as Heart attack, Cancer, kidney failure, meningitis etc.

Brief Write-Up
To cover the high cost involved in 33 critical illness treatment and other loss of income.

Benefits
Full amount is payable if any one of the 33 critical illness specified in the policy is diagnosed during the policy term.

Coverage
Critical illness 33 as defined in the policy

Income Protection Plan

Policy Purpose
Guaranteeing long term monthly income

Brief Write-Up
Monthly income is payable in case of accidental death or disability of the policy holder due to accident.

Benefits
Payment of 240 monthly selected income.

Coverage
Accidental Death or Disability due to accident

Universal Protection Plan

Policy Purpose
Micro Insurance

Brief Write-Up
For individuals who cannot afford standard life term policies but require protection in its most basic forms.

Benefits
Basic Amount in case of  Life cover, Accidental Cover, Accidental Disability Cover, Repatriation Expenses.

Coverage
Death or Disability

Warba Women Care Plan

Policy Purpose
Designed for women to protect them against the spiraling cost of the treatment of cancer in case a woman faces the challenge of treatment.

Brief Write-Up
To Protect women against high cost of 6 cancers related to women.

Benefits
Full sum assured is payable if inflicted by any of the cancer as specified in the policy.

Coverage
6 pre-specified kinds of cancer women are at high risk of suffering from.

Level Term Assurance Plan

Policy Purpose
This type of insurance provides a lump sum of money on the death of the life or lives assured, i.e. the people insured under the plan. If no death occurs during the term, then there is no cash value at the end of the term.

Brief Write-Up
To provide family protection in case of death due to all causes.

Benefits
Basic amount to the family incase of death of the policy holder during the term of the policy.

Coverage
Death due to all causes.

Warba Accident Cover

Policy Purpose
Provide coverage in the unfortunate case of death and disability due to an accident.

Brief Write-Up
To provide death, permanent disability, partial disability and indemnity due to accident.

Benefits
1.Death of the Life Assured due to accident – Sum Assured.
2.Permanent Total Disability of the Life Assured due to accident – Sum Assured. 3.Permanent Partial Disability of the Life Assured due to accident – % of Sum Assured.
4.Total temporary disability of the life assured due to accident for more than one week – 7.5 per 1000 of sum assured for 52 weeks.
5.Total temporary disability of the life assured due to accident and unable to carry out any occupation after 52 weeks – annual incomce of 10% of sum assured after 52 weeks for max 10 years.
6. The amounts payable under Items (1), (2) and (3) shall be doubled in case of public transport accident.

Coverage
Loss of Life due to accident, Permanent Disability/ Partial Disability due to accident.

Supplementary Plans

Accidental Death Plan

Policy Purpose
Provide coverage in the unfortunate case of accidental death.

Brief Write Up
In the event of an accidental death, this insurance plan will pay benefits in addition to any life insurance held by the client. This is called double indemnity coverage.

Benefits
Additional sum assured is paid along with basic policy in case of accidental death and percentage of sum assured in case of permanent disability.

Coverage
Accidental death, permanent disability.

Accidental Death & Disability Plan

Policy Purpose
Provide coverage in the unfortunate case of accidental disability or death.

Brief Write-up
In the event of an accidental death or disability, this insurance plan will pay benefits in addition to any life insurance held by the client.

Benefits
Additional sum assured is paid along with basic policy in case of accidental death and percentage of sum assured in case of permanent disability.

Coverage
Accidental death, permanent disability.

Waiver of Premium Plan

Policy Purpose
Provide coverage in the unfortunate case of disability due to accident or illness.

Brief Write-Up
In the event of a disability, due to an accident or to illness, this insurance plan will provide coverage to the client to waive the remaining premium installments.

Benefits
Waiver of future premium if the policy holder is permanently disabled due to accident or illness

Coverage
Permanent disability due to accident or illness.

Personal Accident Coverage Plan

Policy Purpose
Provide coverage in the unfortunate case of death and disability due to an accident.

Brief Write-Up
To provide death, permanent disability, partial disability and indemnity due to accident.

Benefits
Loss of life, permanent disability, partial disability, weekly indemnity, annual indemnity, double indemnity, waiver of premium due to accident

Coverage
Loss of Life due to accident, Permanent Disability/ Partial Disability due to accident.

Family Income Benefits Plan

Policy Purpose
Provide coverage in the unfortunate case of death of the policy holder till the maturity of the policy.

Brief Write-Up
To provide monthly income in case of death of the policy holder till maturity.

Benefits
1% of the sum assured as monthly income payable till maturity.

Coverage
Death due to all causes.

Waiver of premium on the death of the payor Plan

Policy Purpose
Provide coverage in the form of a waiver of payment of policy installments in the unfortunate case of the death of the payor.

Brief Write-Up
To provide premium waiver benefit for child insurance policies.

Benefits
Future premium is waiver in case death of the payor during the term.

Coverage
Death due to all causes.