“Hajj and Umrah Plan”, a unique, first-of-its-kind shariah-compliant insurance policy, was introduced by MetLife Bangladesh on June 22.
The introduction of the policy is to assist the Bangladeshis plan and save for their Hajj and Umrah pilgrimage with the benefit of Shariah-compliant insurance protection.
The plan included a number of unique benefits to accommodate the needs of individuals planning to go on their holy pilgrimage.
Policyholders, in addition to saving for Hajj and Umrah, can choose flexible coverage amount and premium payment period of either 3 or 5 years and enjoy life insurance coverage period of 5 or 10 years respectively.
After the regular life coverage period, policyholders will receive the full amount from their account value to perform the holy pilgrimage.
It was also stated that as a unique benefit, after receiving their account value, extra 2 years of life insurance or accidental coverage for performing Hajj and Umrah will be granted to the policyholders.
Policyholders will also be able to use MetLife’s extensive digital channels to pay their premiums.
“Performing Hajj and Umrah is the most important religious journey for Muslims, and with the protection of Shariah-compliant insurance, our Muslim customers can start planning and then perform their holy journey with peace of mind,” said Ala Ahmad, general manager of MetLife Bangladesh while commenting on the new insurance plan.