BankDhofar Endowment Plan combines disciplined savings with long-term financial protection
BankDhofar continues to strengthen its commitment to helping customers achieve their long-term financial goals with the promotion of its Endowment Plan, a solution that combines savings with life protection to provide greater financial security for individuals and families.
Underwritten by Dhofar Insurance Company SAOG, the Endowment Plan is designed to help customers build savings for important life goals such as children's education, retirement planning, family milestones, and other future financial needs.
The plan brings together the benefits of disciplined savings and insurance protection in a single solution. Customers can choose a policy term ranging from 1 to 25 years, with 100% of the selected sum assured guaranteed at maturity, subject to policy terms and conditions. In addition, any bonuses declared under the policy may further enhance the maturity benefit.
With contributions starting from just OMR 50 per month, the Endowment Plan is accessible to a broad range of customers. Premium payment options include monthly, quarterly, semi-annual, and annual modes, while a single-premium option is also available.
One of the plan's key features is its protection benefit. In the event of the policyholder's death during the policy term, future premiums are waived while the full maturity benefit remains payable at the end of the selected term. This helps ensure that the customer's intended financial objective can still be achieved, even in unforeseen circumstances.
Customers can further enhance their protection through optional benefits such as Family Income Benefit, Immediate Family Support Benefit, and Total and Permanent Disability coverage. Under the Family Income Benefit, an annual payment equivalent to 10% of the applicable rider sum assured will be paid for up to 10 years, helping provide financial stability to beneficiaries.
The plan also offers flexibility to accommodate changing financial circumstances. A 60-day grace period is available for missed premiums, and policies may be reinstated within 24 months, subject to applicable conditions. Once a surrender value has been established, policyholders may also access loans of up to 80% of the surrender value.
Available to both Omani nationals and expatriates holding valid residency permits, the Endowment Plan is open to customers aged between 18 and 54 years, with worldwide coverage throughout the policy term and a maximum maturity age of 70 years.
Ashraf Khalid Al Battashi, Head of Products, Segmentation, Cards & Bancassurance: "At BankDhofar, we believe financial planning is about preparing today for life's future opportunities and responsibilities. The Endowment Plan provides customers with a practical and disciplined way to build savings while ensuring protection for their loved ones, helping them pursue their long-term aspirations with greater confidence."
The Endowment Plan reflects BankDhofar's broader focus on supporting customers beyond day-to-day banking through solutions that encourage long-term financial wellbeing. By combining guaranteed capital at maturity, disciplined savings, life protection, and optional family benefits, the plan offers a comprehensive pathway towards achieving important life goals with confidence and peace of mind.
