Dubai Islamic Insurance and Reinsurance Company (AMAN Insurance), the largest Islamic Insurance provider in the UAE, has announced the launch of ‘Rishtey’ and ‘Health on Return’ for the UAE’s booming Non Resident Indian (NRI) population.
The two new medical insurance products have been developed in cooperation with ICICI Lombard of India, the largest private sector general insurance company in India and was made possible through the courtesy of J.B. Boda & Co., India’s largest Insurance & Reinsurance Broker.
To date, around 40 per cent of the total population and 50 per cent of the work force in the UAE are made up of NRIs and serves as a strong testament to the binding relationship between India and the UAE. ‘Rishtey’ and ‘Health on Return’ have been launched following a partnership agreement signed by Hussein Al Meeza, CEO and Managing Director of AMAN and Hitesh Kotak, Vice President, Strategic Planning Group, ICICI Lombard.
‘Rishtey’, which means ‘relationships’ in Hindi, is a strategic medical insurance product that offers NRIs a comprehensive health insurance plan for their families in India and follows a simple structure and uncomplicated documentation process. Key features for ‘Rishtey’ dependants in India includes the coverage of medical expenses incurred by the NRI’s dependent during hospitalisation due to illness or accident; expenses incurred prior to hospitalization up to 30 days and post discharge from hospital up to 60 days and covers pre-existing diseases after two years of continuous coverage. The NRI will also be eligible for a free health check-up on visit to India; entitlement to a return air fare ticket of up to INR 20,000 to visit an insured dependant in India in the event of a medical emergency and a global personal accident cover sum valued at INR 200,000.
“One of the growing demands of NRIs based in the UAE and the rest of the Middle East region is for a strategic and highly reliable medical insurance plan,” said Hussein Al Meeza, CEO and Managing Director, AMAN Insurance. “Our strategic relationship with ICICI Lombard of India is part of our move to address this demand and offer two comprehensive medical insurance products that will help allay worries of NRIs in terms of medical concerns and issues. The ‘Rishtey’ and ‘Health on Return’ programs that we are launching have been developed to address these concerns and altogether provide NRIs with the confidence and security of a wide covering health insurance package.”
“We are aiming to consolidate our market presence in the UAE with the promotion of our wide portfolio of insurance products, which range from fire, engineering, general accident to marine, motor and healthcare concerns. These products are equally offered with strategic value added services that give full money’s worth to our customers. Our goal is to provide customers with the best insurance program that will fit their needs and budget. Rest assured, we will continue to remain steadfast in our commitment to offer a comprehensive system of outstanding Islamic Insurance Services that support the stability and security of our communities,” Al Meeza, added.