News Column

QNB brings two new bancassurance Products to the banking industry

February 15, 2014



The two new products being added to the QNB comprehensive suite of banking services are: CritiCare and Insta Protect Plus. These are being introduced in conjunction with MetLife Alico and will provide Insurance solutions for a number of banking customers.

The details of the products are as follows:

Criticare: A new concept in health protection provides customers with an instant lump sum to help them pay for expensive medical bills or compensate for the loss of income due to critical illnesses. The plan, which offers different benefit levels and a worldwide coverage, is an enhancement to any existing health or disability insurance. A total of 32 critical illnesses are covered under this plan including heart attack, major cancers and kidney failure.

If the protection element of the product is not used during the life of the plan, the insured will be entitled to receive a guaranteed 75 per cent cash back sum with potential bonuses.

Insta Protect Plus: This plan safeguards the financial security of a family. It is an affordable solution designed to cover unpaid financial liabilities to ensure the family of the insured does not struggle to pay the outstanding debt in the unexpected event of loss of life of the policyholder. The plan is designed to guarantee beneficiaries receive a one-time, lump-sum amount (up to $200,000) on the passing of the insured.

If the protection element of the product is not used during the life of the plan, the insured will be entitled to receive a guaranteed 50 per cent cash back sum.

Commenting on the introduction of these important Insurance products, Mrs. Heba Al-Tamimi, General Manger, QNB Group Retail Banking said: "Critical Care and Insta Protect offer great value and peace of mind to QNB customers. Our aim is to complement our traditional banking products with insurance protection that will help our valued customers safeguard the financial stability, security, sustainability of their family's lifestyle and dreams. The launch of these two solutions is another important step in providing the right products and levels of Insurance cover available for our customers."


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Source: CPI Financial


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