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IF YOU ARE TAKING A BANK LOAN, INSURE WITH US.

Lowest premium rates

Life Insurance policy for Bank Loans : As you are aware Life insurance cover is compulsory in case you are taking a bank loan. As per recent instructions by Central Bank of Oman, you are free to purchase your own Insurance policy for taking a bank loan. Falcon has designed a new policy for you which is better and also affordable with lower premium rates.

Falcon Insurance Co offers the following individual policies to the borrowers of bank loans. We have now introduced 3 types of new individual insurance products which are suitable for Customers who avail of Bank loans.
 
For Housing loans etc                                                      Mortgage Protection Plans (MPP)
                                                                                         Decreasing term assurance with Non-linearly decreasing sum
                                                                                         assured as per amortisation tables.

For Salary related loans                                                 Loan Protection Policy (LPP) : Decreasing term assurance
                                                                                       with regular annual reduction in sum assured.

For Overdrafts and business loans where
only interest will be paid back                                      Falcon Assurance Policy ( FAP)- This is a Level term Assurance with
                                                                                    the sum assured and premium rates remaining same during the loan
                                                                                    period
 
 FIC products are suitable and attractive as follows:

1. Monthly or Annual premium or single premium may be paid.
2. Low premium rates depending on age.
3. Annual Premium remains same during the loan period which is suitable for long term Housing loans
4. Single premium is suitable for short loans, and
5. We are offering refund of the unexpired risk part of the single premium if the loan is foreclosed.
 
 

For more information, please contact our Life Department on (968) 2466 0900
.