Life & Medical Insurance


Life Insurance

The various forms of life insurance provides protection to individuals against risks of death at an early age or facing a shortfall in income at old age. Life insurance also provides security to the individual during his life and to dependents in case of the death of their breadwinner. Saving life insurance policies offer individuals the opportunity to use their policies as collateral for obtaining loans to meet their various obligations. The most important types of life insurance include term, mixed, personal accidents and disability insurance coverage.

Procedure for Obtaining a Life Insurance Policy:

Issuing procedures:

  • The first step is filling in a life insurance application form, which can be obtained from company representatives, authorized agents or directly from the company. The client shall fill out the form, answering all the included questions and stating the type of insurance coverage required.
  • The insurance company studies the application and assesses the risk in light of the health condition of the insurance applicant, setting an appropriate price and increasing the premium rate in case there is an additional risk.
  • The applicant undergoes medical examination subject to the risk assessment results and the limits of life policy amount, in accordance with the company’s policy.
  • Setting the price and completing the reinsurance arrangements.
  • Calculating the insurance premium, issuing the policy and handing it to the insured after paying the premium.

Claims Procedures:

The claim is submitted to the insurance company to analyze it in light of the terms of the insurance policy and the required documents. Each claim is processed on a case-by-case basis depending on if it is a natural death, death by accident, permanent or temporary disability, the validity of insurance and finally handing the claim payment to the beneficiary to settle the claim and sign a discharge.

Medical Insurance:

This type of insurance is available in two forms:

  • Individual medical insurance: offered to persons and their families individually.
  • Group medical insurance: offered to employees of establishments, entities, companies and associations in the form of a single group contract.

Medical insurance provides the insured with medical care benefits and covers related expenses according to the scope of the arranged coverage, which could take the following forms:

  • Inpatient hospital services, which include covering the fees of hospital stays, doctors, surgery and emergency cases.
  • Outpatient treatment, which includes doctor visits, medications and
  • Comprehensive coverage, which includes inpatient and outpatient expenses.