What do I have to know about Waladi Plus?
- Waladi Plus is an investment program in USD, coupled with a life insurance from Arope that guarantees continuity of the program in case of death
- The premium insurance policy from Arope covers death. The insurance may also cover Passive War Risk, Personal Accident insurance and Schooling upon your discretion.
- The investment in this program will guarantee a minimum return set for 1 year currently 4% and rescheduled yearly throughout the program's lifetime. The investment will be set by a common steering committee consisting of BLOM Bank sal and Arope Insurance so as to ensure that you receive the optimum return with minimal risk.
- Waladi Plus offers the ultimate payment flexibility as the deposits may be paid monthly, quarterly, semi-annually or annually and you can choose to automatically transfer the money if you have a personal account in BLOM Bank
- The child can be aged between 1 day and 17 years old.
- The subscriber to the program must be between 18 and 60 years old
- The program will mature no sooner than 5 years and no later than 21 years
- The policy can be amended once a year before maturity at the subscriber’s discretion. In addition; You can chose to increase the policy premium or the policy coverage by any percentage of your choice
- Additional payments can be deposited and will accumulate the same interest rate* (2% commission)
- You can deposit a minimum payment of USD 25 per month
* subject to the approval of the Arope
Why should I choose Waladi Plus?
- Waladi plus insures your life and your savings. The program continues in case of death or total permanent disability until maturity
- Waladi plus ensures that you save for your child’s education or his/her future needs
- You can amend the conditions of coverage or payment yearly
- At maturity the money will be collected as a lump sum
- Waladi plus also provides you with liquidity with the capacity to borrow on your cash value
What does the schooling option in Waladi Plus cover?
- The schooling insurance option cover’s your child’s educational expenses in case of the account holder’s death or total permanent disability up to the covered amount
- You can a schooling option for an additional payment starting at USD 1 per month
- The Schooling coverage ranges from USD 500 to USD 6000 per year
What extras do I get with “Waladi Plus”?
- A free un-embossed MasterCard or Visa Electron for the first year
- A free BLOM debit card free for the first year is offered to the beneficiary at maturity
- A BLOM credit card with a credit limit up to 50% of the ending cash value
- Loan up to 50% of the ending cash value
How do I apply for “Waladi Plus”?
- Pass by any of our branches and get assistance from our Customer Service
- Apply from your e-blom Internet Banking
For more information, head towards the nearest BLOM Bank branch, or contact our 24/7 Call Center on +961-1-753000 anytime, any day.