WHAT CAN INSURANCE DO FOR YOU?

You are here:   Home > About Insurance > Protection
Protection

There are some things in life you’d probably rather not think about, even though you know they’re important – like life insurance.

Having life insurance can help give you the peace of mind that even if something unexpected happens to you, your loved ones would be helped financially. LOLC Life Assurance can offer you a life cover benefits that make you feel secure about your family’s future. Also you can choose to combine one or more additional riders in one simple plan.

LOLC Life Assurance Life Protect is a flexible insurance policy that offers you the security of guaranteed protection, with the added benefit of periodical returns to the fund. In addition, this plan is designed to provide you and your entire family with a wide range of comprehensive protection covers to secure your family in the event of the unforeseen. It offers you the flexibility of choosing an ideal combination of savings and protection. LOLC Life Protect offers the flexibility of including a host of additional benefits to customize your policy and to cater your own unique needs.

Key Features
  • Life Cover on demise of insured.
  • Flexible Payment Term option between 10 to 40 years.
  • Convenient premium payment options.
  • Additional enhancements that helps you to customise your policy.
  • Dividends credited to the fund at the end of every year.
  • Availability to include spouse and children as optional covers.
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You are here:   Home > About Insurance > Critical Illness and Hospitalization
Critical Illness and Hospitalization

Due to changing lifestyles, health issues have not just escalated, they have increasingly become more complex in nature. It becomes imperative therefore to have a health insurance plan in place, thus your financial planning is incomplete if you have not accounted for health.

LOLC Life Assurance offers Critical Illness covers on 29 critical illnesses and also offers a daily hospitalisation benefit along with the life cover. You can add these optional covers when you obtain a life insurance and your spouse and children are also entitled to opt these benefits.

A guaranteed per day benefit will be paid upon your hospitalisation in any registered private or government hospital.

Key Features
  • Can be obtained along with a life cover.
  • Convenient premium payment options.
  • Guaranteed lump sum upon diagnosis of a serious illness.
  • Availability to get spouse and children also.
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You are here:   Home > About Insurance > Retirement
Retirement

Retirement & Pension Plans provide you with financial security so that when your professional income starts to ebb, you can still live with pride without compromising on your living standards. Given the high cost of living and rising inflation, Retirement planning has today become all the more important.

LOLC Life Assurance Pension Plan is an insurance policy that is designed to help you build a retirement fund whilst also enjoying the option of enhancing your policy with protection covers. The policy has the attractive feature that in the unforeseen event of your demise the company will provide your family with the death benefit and also continue to maintain the policy until its maturity and provide the benefits to your dependents. All you have to do is decide when you want to retire, the monthly or quarterly income you need after your retirement and for how long you need this income to be continued after your retirement.

The LOLC Life Assurance pension plan allows you the flexibility to decide how much of a retirement fund you wish to build as well as how you receive this fund at retirement. You can receive your fund as a lump sum or opt to receive it monthly/quarterly up to 20 years after the chosen retirement date in the policy.

Key Features
  • In addition to the retirement, you can enjoy a life cover of your choosing.
  • In case of demise, LOLC Life Assurance will continue your policy until maturity.
  • Convenient premium payment options.
  • Additional enhancements that helps you to customise your policy.
  • Dividends credited to the fund at the end of every year.
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You are here:   Home > About Insurance > Child
Child
There is really no better gift you can give your child…

Successful parenting is by no mean a small accomplishment. A huge contributor to this success is the financial planning for your child's future needs at the right age! There is really no better gift you can give your child, than the promise of a secure future with our Child Plans that encompass child insurance plans & education policies from LOLC Life Assurance. This Birthday, gift your child a secure future & career and watch him/her soar high with the unique child investment plans offered by LOLC Life Assurance.

LOLC Life Assurance Child Plan is a unique policy designed to provide security for your child's future, by taking care of their future educational and financial needs. The policy offers the added benefit that the company will maintain the policy in the event of your demise or total and permanent disability to ensure the financial security you planned for your child remains. In addition, in the event of total and permanent disability, you will be entitled to a payment equivalent to the sum assured under the Total and permanent disability cover of the policy. The policy will also attract an annual dividend thereby continually growing the fund to provide your child with the financial security you desire. Furthermore, LOLC Life Assurance Child Plan offers you the flexibility of including a host of additional enhancements to customize your policy to care for your child's own unique needs.

A very special feature of this policy is that you have the option of building an additional fund for your child in the event of your demise.

Key Features
  • In the event of the death of the insured, Educational support benefit supports periodical payment for the child.
  • In case of demise or total and permanent disability, LOLC Life Assurance will continue to pay premiums to your policy until maturity.
  • Convenient premium payment options.
  • Additional enhancements that helps you to customise your policy.
  • Dividends credited to the fund at the end of every year.
  • The choice to build an additional fund.
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You are here:   Home > About Insurance > Takaful
Takaful

The central idea of Takaful itself is to protect one another against any unexpected risk. Besides, the Takaful system is perceived as a concept of mutual cooperation (ta’awun) and donation (tabarru’), where the risk is shared collectively and voluntarily by the group of participants to guarantee mutual protection of the members

Life/Family Takaful provides the breadwinner of the family with both a protection policy and long-term savings for his or her peace of mind. 

Either the main income provider or his beneficiary will be provided with financial benefits if he suffers an injury, thus becoming handicapped, or in the event of him losing his life. 

At the same time, he will enjoy an investment return while in the process of saving up for the future, since part of his contribution will be deposited in an account for the purpose of savings. He will have a choice of when he would like for it to mature.

As an initial product offering, Al Falaah Takaful Life Assurance brings you “TAKAFUL DIVISAHANA”, a unique product designed to provide you peace of mind for your financial commitment when you sign up for an Islamic facility with LOLC Al Falaah.

At LOLC we believe in providing our customers unmatched benefits & services. This product provides you with the following benefits:

  • Loan settlement in case of Death or Permanent total disability (Natural & Accident)
  • Balance amount to the family
  • Funeral Benefit
  • Child & Family Benefits

Key Features
  • Dedicated Shari’ah Supervisory Board (SSB).
  • In-House Shari'ah Advisor availability.
  • 100% Shariah Compliance.
  • Wide network of branches.
  • SSB authorized products & services.
  • Knowledgeable & Competent staff.
You are here:   Home > About Insurance > Loan
Loan

If death occurred unexpectedly or you become permanently disabled, you may not be able to make your monthly loan repayments and you will leave your family with the burden of paying off your loan. This insurance helps pay off your repayments or simply covers your loan repayments when you are not able to.

In addition to settling all outstanding loans, LOLC Life Assurance Home Loan Protection Policy will release any mortgaged property upon the death or permanent disability of the borrower. This easy-to-obtain policy will ensure a stable and secure home and a bright future for your family, along with the assurance of the safety of your home.

Key Features
  • Loan outstanding will be settled upon Death or TPD .
  • A single premium payment.
  • Additional protection on permanent disability.
  • Premium refund on early loan settlements.