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Savings Plans

Saving for the future is always a wise decision and gives a feeling of security and peace of mind. Saving for life’s short term milestones such as a holiday or long term milestones such as marriage, children’s education, retirement; both require adequate planning and discipline.

Once adequate funds are accumulated, savings can also provide the seed money for higher yielding investments.

We offer a range of savings plans with embedded takaful cover, through our partners, to help meet your financial goals.

 
 

SMART SAVE PLUS

Smart Save Plus helps you achieve your financial goals while protecting your family against any unforeseen financial loss and provides flexibility in managing your savings, all at the same time. It empowers you to go that extra mile by keeping your financial goals on track.

This plan is offered by Noor Takaful and is distributed by Noor Bank PJSC.

PLAN FEATURES:
  • Start your plan with contributions as low as AED 500 per month
  • Contribution payment in AED or USD
  • Flexibility to pay contributions quarterly, half yearly or yearly
  • Upfront bonus of up to 75% of first year contribution
  • Loyalty bonus from first year onwards
  • Flexibility to change contribution amount during the plan tenor to align with the changes in your financial circumstances
  • Enjoy peace of mind as you are covered around the globe
PLAN BENEFITS:
  • Encourages you to save in a disciplined manner
  • Range of funds to choose from to suit your investment needs and risk appetite
  • Exposure to invest in the international markets, whilst offering a Takaful cover
  • Empowers you to manage your investment and align it with market dynamics by allowing free funds switches
BUILT-IN BENEFITS:
  • Primary Takaful Cover - The plan provides a lump sum payment in addition to the investment balance accumulated, in case the covered member passes away.
ADDITIONAL OPTIONAL BENEFITS:
  • Additional Level Term Benefit – This benefit provides an additional takaful cover that protects the covered member for a specific term.
  • Accidental Death Benefit – In addition to the Primary Takaful Cover, this benefit provides cover against the unfortunate event of death resulting from an accident.
ELIGIBILITY:
  • Noor Bank customers
  • Entry Age – 18 years to 65 years
  • Contribution Term – 5 years to 15 years

IDHIKAR PLUS

Idikhar Plus Plan is designed to help you reach your financial goals swiftly and effortlessly. The plan smartly works alongside to keep you on track and make the most of your investment and protect your wealth, all in a Shari’ah compliant way. It facilitates you to be disciplined towards your goals and protects your family.

This plan is offered by SALAMA – Islamic Arab Insurance Company and is distributed by Noor Bank PJSC.

PLAN FEATURES:
  • Start your plan with contributions as low as AED 500 per month
  • Takaful cover up to age 100
  • Contribution payment in AED or USD
  • Flexibility to pay contributions quarterly, half yearly or yearly
  • Single contribution as lump sum can be paid in addition to regular contributions at any time during the term of the plan
  • Provides cover for single or joint life
  • Plan can be owned by an individual or corporate entity
  • Upfront bonus of up to 75% of 1st year contribution
  • Loyalty bonus from 3rd year onwards
  • Flexibility to change contribution amount during the plan tenor to align with the changes in your financial circumstances
  • Enjoy peace of mind as you are covered around the globe
PLAN BENEFITS:
  • Encourages you to save in a disciplined manner
  • Range of funds to choose from to suit your investment needs and risk appetite
  • Exposure to invest in the international markets, whilst offering a Takaful cover
  • Empowers you to manage your investment and align it with market dynamics by allowing free funds switches
BUILT-IN BENEFITS:
  • Family Takaful Cover - The plan provides protection by paying out the agreed cover amount or cash value, whichever is higher, in case the covered member passes away.
  • Terminal Illness – This benefit is paid if the covered member is diagnosed with a Terminal Illness wherein life expectancy is less than 12 months.
ADDITIONAL OPTIONAL BENEFITS:
  • Critical Illness Benefit - This benefit pays a lump sum amount if the covered member is diagnosed with a critical illness from any of the pre-established list of 36 diseases, subject to the survival period of 1 month.
  • Permanent and Total Disability Benefit - This benefit provides an additional lump sum, if as a result of accident or sickness, the covered member becomes Permanently or Totally Disabled; thus losing the ability to work in any occupation.
  • Accidental Death Benefit – This benefit provides an additional lump sum in case the covered member passes away directly and solely as a result of an accident.
  • Family Income Benefit - This benefit provides fixed annuity payments to the family in the unfortunate event of the covered member passing away, for a chosen period between 1 and 40 years. The payments are payable for the unexpired period of the selected term.
  • Hospital Cash Benefit – This benefit pays a fixed amount for each day (up to a maximum of 30 days) in case the covered member is hospitalized for a continuous period of more than 3 days.
  • Waiver of Contribution – This benefit pays the remaining regular contributions on behalf of the plan holder if, as a result of accident or sickness, the covered member becomes Permanently or Totally Disabled and is unable to perform any occupation.
  • Accidental Total or Partial Permanent Disability – This benefit pays a fixed amount in the event of accidental bodily injury incurred within 90 days after the accident, resulting in Total or Partial Permanent Disability.
ELIGIBILITY:
  • Noor Bank customers
  • Entry Age – 18 years to 65 years
  • Contribution Term – 5 years to 15 years

WEALTH PLUS

Building a strong and secure financial plan for you and your family can be quite a challenge. But the best things in life are worth preparing for. Wealth Plus is a unique investment plan that helps you plan for your future and achieve whatever dreams you may have.

This plan is offered by SALAMA – Islamic Arab Insurance Company and is distributed by Noor Bank PJSC.

PLAN FEATURES:
  • Start your plan with a contribution of AED 100,000
  • Built-in Family Takaful Benefit of 101% of single contribution amount or fund value, whichever is higher
  • Contribution payment in AED or USD
  • Additional lump sum payments can be made anytime during the plan term
  • Loyalty bonus from 6th year onwards
  • Enjoy peace of mind as you are covered around the globe
PLAN BENEFITS:
  • Achieve your financial goals by increasing the value of your investment
  • Range of funds to choose from to suit your investment needs and risk appetite
  • Exposure to invest in the international markets, whilst offering a Takaful cover
  • Empowers you to manage your investment and align it with market dynamics by allowing free funds switches
ELIGIBILITY:
  • Noor Bank customers
  • Entry Age: 18 years to 69 years
  • Maximum Age at Maturity: 70 years

MOMAYAZ

Your investment planning depends on the stage of life you are in, your risk appetite and readiness to part with liquidity. Your investment should work as hard as you do, or more. Momayaz, offered by SALAMA - Islamic Arab Insurance Company, is a single contribution investment plan designed to help you manage and enhance your wealth in a convenient way.

PLAN FEATURES:
  • Start your plan with a contribution of AED 100,000
  • Built-in Family Takaful Benefit of 101% of single contribution amount or fund value, whichever is higher
  • Contribution payment in AED or USD
  • Additional lump sum payments can be made anytime during the plan term
  • Loyalty bonus from 6th year onwards
  • Enjoy peace of mind as you are covered around the globe
PLAN BENEFITS:
  • Achieve your financial goals by increasing the value of your investment
  • Range of funds to choose from to suit your investment needs and risk appetite
  • Exposure to invest in the international markets, whilst offering a Takaful cover
  • Empowers you to manage your investment and align it with market dynamics by allowing free funds switches
ELIGIBILITY:
  • Noor Bank customers
  • Entry Age: 18 years to 69 years
  • Maximum Age at Maturity: 70 years

SECURE INVEST PLUS

Your dream home, a year off to discover new worlds, or your retirement goals - whatever your plans are, you need a flexible investment solution that adapts to your needs. Secure Invest Plus is an investment plan that will help you start building your wealth and shape the future you want.

This plan is offered by Noor Takaful and is distributed by Noor Bank PJSC.

PLAN FEATURES:
  • Start your plan with a contribution of AED 50,000
  • Built-in Death Cover of 10% of initial contribution amount or fund value, whichever is higher
  • Contribution payment in AED or USD
  • Additional lump sum payments can be made anytime during the plan term
  • Enjoy peace of mind as you are covered around the globe
PLAN BENEFITS:
  • Achieve your financial goals by increasing the value of your investment
  • Range of funds to choose from to suit your investment needs and risk appetite
  • Exposure to invest in the international markets, whilst offering a Takaful cover
  • Empowers you to manage your investment and align it with market dynamics by allowing free funds switches
BUILT-IN BENEFITS:
  • Primary Takaful Cover - The plan provides return of your investment at market value or 100% of your initial investment at current market value, whichever is higher, in case the covered member passes away.
OPTIONAL BENEFITS:
  • Additional Level Term Benefit – This benefit provides an additional takaful cover that protects the covered member for a specific term.
ELIGIBILITY:
  • Noor Bank customers
  • Entry Age: 18 years to 64 years
  • Maximum Age at Maturity: 75 years

SECURE INCOME PLUS

Retirement is a time when you should be relaxed knowing that your financial needs are taken care of. Secure Income Plus is the region’s first Shari’ah compliant pension/ annuity plan designed to ensure your income is secured after retirement; in addition to providing you with the peace of mind that your family will be taken care of in any unforeseen event.

This plan is offered by Noor Takaful and is distributed by Noor Bank PJSC.

PLAN FEATURES:
  • Start your plan with contributions as low as AED 200 per month
  • Takaful cover up to age 70
  • Contribution payment in AED or USD
  • Annuity income (10 to 20 years term option) without the market risk on covered member with a protected rate of 2.5%
  • Option to take cash value as a lump sum, instead of annuity income, upon maturity
  • In the unfortunate event of covered member being permanently and totally disabled or passing away before the end of the contribution payment term, family will receive:
    • Death or permanent and total disability benefit equal to 50 times monthly contribution
    • Monthly allowance equal to 4 times monthly contribution till the end of contribution payment term to support the costs of living
    • Waiver of contribution to continue the plan till the end of the selected plan term
    • Annuity option (10 or 20 years) at the end of plan term
  • Upfront bonus of up to 100% of 1st year contribution
  • Flexibility to change contribution amount during the plan tenor to align with the changes in your financial circumstances
  • Flexibility in choosing deferment period & payment period
  • Enjoy peace of mind as you are covered around the globe
PLAN BENEFITS:
  • Stable stream of income during the annuity period
  • Enjoy a comfortable retirement and fulfil lifelong aspirations through disciplined savings
  • Through this plan, your family can be assured of a continued stream of income in unfortunate circumstances.
ADDITIONAL OPTIONAL BENEFITS:
  • Additional Level Term Benefit – This benefit provides an additional takaful cover that protects the covered member for a specific term.
  • Accidental Death Benefit – In addition to the Primary Takaful Cover, this benefit provides cover against the unfortunate event of death resulting from an accident.
  • Critical Illness Benefit - This benefit pays a lump sum amount if the covered member is diagnosed with a critical illness from any of the pre-established list of 6 diseases (subject to an initial waiting period of 3 months), up to a specified percentage of the Death Benefit amount or a maximum of AED 1 million, whichever is lesser.
  • Permanent Partial Disability - This benefit provides a lump sum amount in case a disability leaves the covered member unable to work and earn an income.
  • Temporary Total Disability - This benefit provides a weekly income of AED 250 (up to a maximum of AED 5,500) in case the covered member is unable to work due to an accident
  • Terminal Illness – This benefit pays a lump sum amount upon the covered member being diagnosed with a Terminal Illness wherein life expectancy is less than 12 months.
  • In-Hospital Cash Allowance - This benefit provides daily cash benefit for each day (exceeding 18 hours) a covered member is hospitalized due to any illness or injury.
  • Funeral Expenses - This benefit provides immediate payment of the cover amount for funeral expenses.
  • Repatriation Benefit - This benefit covers expenses incurred for returning the mortal remains to the place of residence in the covered member’s home country.
ELIGIBILITY:
  • Noor Bank customers
  • Entry Age – 18 years to 65 years
  • Contribution Term – 5 years to 15 years

Fund Management Guide

 
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Disclaimer

Noor Bank PJSC (Noor Bank) is an authorized distributor of takaful policies in the UAE for various takaful companies.

All product features and benefits are offered by the takaful company and not by Noor Bank. Noor Bank shall not assume any responsibility for policy approval, issuance, handling of claims and payment of indemnity under the policy or otherwise. Noor Bank does not advice on the selection of funds.

Terms and conditions of the takaful plans shall apply.

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