Saving and Protection

Saving and Protection Plan

Everyone has goals that they want to achieve for themselves, or for their family members.

Some of these goals need some financial support whether it’s saving for our children’s future education, marriage, planning for retirement, buying a new car, building a new house or even starting a new business.

Unfortunately saving for these goals are often put-off as immediate priorities come in such as bills, and unexpected expenses that always takes higher priority.

To help you start saving so you can achieve your goals, we are presenting “Saving & Protection Plans“ for Al Rajhi Bank customers which are presented by Al Rajhi Takaful Company.

The Saving and Protection plan provides a way to invest regular contributions in a simple and cost effective manner starting from only 300 SAR per month. These funds allow your investing decisions to be in hands of professionals.

There are many great reasons to start saving, here are a few:

  • Helping you to accumulate long term savings in a Sharia’h compliant investment funds to achieve your goals.
  • Easy access to professional fund management, to achieve long term growth starting from 300 SR per month.
  • In the event of death or disability, Al Rajhi Takaful will pay a sum equal to the amount you would have saved over the full term of your plan or higher if you insured for a higher amount.

Al Rajhi Takaful Company has developed the product and now is presenting through 4 packages to simplify the product & it’s benefits to the client, 4 packages will be as follow:

You can choose from the following packages:

Package Monthly Contribution in S.R Protection Amount in S.R* 10 Years 15 Years 20 Years
Silver Package 300 50,000 41,498 71,974 110,936
Golden Package 500 90,000 69,024 119,632 184,488
Platinum Package 1,000 125,000 139,191 241,556 371,745
Elite Package 3,200 400,000 445,410 772,978 1,189,584

Total Accumulated investment amount at maturity date in S.A.R**

* Protection amount shall be paid in case of death or disability – “God forbid”

**All above amounts are calculated based on follow:

  • Expected annual investment return 5%, may be changed according to fund investment performance.
  • Client’s age is 35 years, amounts shall be changed due to change in client’s age.
  • All amounts are NET amounts after deducting all administration fees & Zakat.

Please fill out this short online form and we will get back to you as soon as possible.

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Coverage Options

Terms and Conditions

  • Islamic Principles

    Focuses on the Islamic principle of cooperation between members of the community who participate in bearing the financial repercussions resulting from risk or danger.

  • Benefits

    Information management systems to track the status of your vehicle

    • Diverse and reliable repair alternatives
    • Full cover limit for third parties liability in Saudi Arabia, up to SAR 10 million 
    • Includes accidents involving insured vehicle when the driver is not in the vehicle
  • Personalization

    Upgrade your base policy with the following options, at an extra cost:

    • Include an additional driver
    • Extend damages cover to GCC countries (Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the UAE)

Motor Insurance Plans

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Motor Insurance Plan
Third Party Liability Cover

Benefit Package i Wafi Essential Packge ii Smart Extra Package iii Smart Extra Plus Coverage
Third Party Liability Up to 10 Mil Riyals
Emergeny Medical Expenses Up to 250 Riyals
No Claims Discounts Up to 10%
Early Renewal Discount Up to 2.5%
Multi Vehicle Discount Up to 10%
Personal Accident for Driver and Passenger(s) Up to 100,000 Riyals per person
Roadside Assistance Towing and Battery Charge
Fire - Theft - Broken Windscreen Maximum insurance amount or market value

Comprehensive Cover

Benefit Package i Smart Essential Packge ii Smart Extra Package iii Smart Extra Plus Coverage
Third Party Liability Up to 10 Mil Riyals
Emergeny Medical Expense Up to 1000 riyals
No Claims Discounts Up to 10%
Early Renewal Discount Up to 2.5%
Multi Vehicle Discount Up to 10%
Fire - Theft - Broken Windscreen Up to 100,000 Riyals per person
Agency repairs for insured vehicles Optional Optional Optional Maximum sum insured or market value
Extension for agency repairs Up to 5 years
Flexi Deductible 50% discount on renewal with no claims
No Deductible on Spare Parts Up to 5 years
Waiver of depreciation clause (new vehicles) Applied on the compensation for total loss of vehicle < 12 months old
Personal accidents for driver and passengers Up to 100,000 Riyals per person
Roadside assistance Towing or Battery Charge
Extension of geographical limit For GCC Countries
Natural perils Flood
Vehicle rental Up to 1% insurance amount not to exceed 1500 Riyals

Standard Exclusions of the Motor Insurance
Comprehensive Plan (Non-exhaustive)

  • Standard exclusions
    • Death or bodily injury to participants, drivers, and family members
    • Death, bodily injury or damages that are due to the loading or unloading of vehicle and/or cargo
    • Any legal liability or expenses arising or relating to increase of carriage and/or excess of stress and/or if the carriage is not fixed well on the vehicle in a way breaching the law and/or exceeding the legal number of passengers permitted by law
    • Geographical areas outside the scope of this policy
    • Violations of traffic laws, i.e. speeding
    • Undeclared and unaccepted accessories
    • Wear and tear (aging and consumption)

How To Apply

Please apply for Insurance via one of the following options

FOR ENQUIRIES CALL:

+9668001241222