National Life Insurance Company, Oman. Building a Better Life.

Getting married, having a family, to love and to be cared for are the few beautiful things in life. Your spouse and your children are very important parts in your circle of happiness. Time passes so fast yet each important moment stays with you for the lifetime. The first time your child smiled at you, the first time your child walked, the first time they said their first word. You are more than a parent and a spouse. You are the guardian and provider. Your responsibility, like your love for them, is ever lasting. Life, however, is not. What happens to your loved ones in case of an unfortunate turn of events? Sometimes it keeps you up at night, when you worry about their future. Well, the best way to secure your family's future is to plan it. Your family looks up to you for this purpose. Let's find answers to some key issues that might have escaped your attention:

What is your family's monthly living expense with the current financial commitments?
Are you aware of the effect of rising cost of products and services (inflation)?
Will you be able to afford the same standard of living for your family with the increasing cost of bringing up your child/children?
Are you aware that you will need to save a substantial amount for the cost of providing a good and settled life for your child/children?
What would happen to your family if your income was to stop or you were unable to earn? Who would settle the debts?
Who will take care of your child's education?
How will your spouse manage the house and at the same time pay the utility bills?
How do you propose to take care of these challenges?
How much more time do you have to plan?
Can you imagine the effect of not having the necessary funds at the time when it is most necessary?

The Child Care Plan form National Life enables one to regularly set aside some money (premiums) so that he/she has a lump sum (Sum Assured) on hand when needed the most, along with an added bonus upon maturity. The Benefit is three fold: protection for the family, for the child's future in case of an unfortunate event and an investment fund to build the career of the child. The Child Care Plan guarantees serenity and better return on investment.

Small Premiums with good returns and peace of mind
High protection
24 hour world wide cover
Regular monthly maintenance income to the family till the end of plan period, incase of an unfortunate event.

Choose the duration of the plan (the term), the Sum required at the end of the term (the sum assured) make the decision and start the contributions (premiums) on a monthly, quarterly, half- early or annual basis.

At the end of the term you get the sum assured, a guaranteed bonus of 2% for every year of the term and additional reversionary bonuses as declared by the company year after year.
In case of an untoward event prior to the completion of the policy term, the sum assured along with the regular monthly maintenance income will be paid. Beside this, at the end of the policy period, the child will be entitled for sum assured accumulated guaranteed and reversionary bonuses.

Ali is 33 years old; his son Jamal is 3 years old. As a caring and responsible parent, Ali decides to plan and secure his son's future. He takes a Childcare Savings Plan wherein he contributes RO 52.100 (premium) every month for a sum assured of RO 7,000 at the end of 15years.

Q: What are the benefits Ali has assured for his son through this plan?

A: Ali will get the following benefits:

Guaranteed targeted amount at maturity (Sum Assured)	RO 7000	Maturity Benefits
Guaranteed Bonus @2% (RO 140 per year for 15 years)	RO 2100
Non-guaranteed Bonus (profits declared from time to time)

Ali unfortunately passes away due to a sudden heart attack after just 4 years of the start of the plan.

Q: How does this plan protect the family needs now?
A: Ali's family immediately receives the sum assured of RO 7000/-.

Q: How many premiums are remaining to be paid to end of the policy term?
A: Premiums for eleven (11) years. (Actually, Ali was expected to pay premiums for 15 years. But since he passed away after the fourth year, so premiums for 11 years are yet to be paid)

Q: What happens to these premiums? Who pays them?
A: They don't have to be paid. They are waived off.

Q: Will Ali's family get any further benefits?
A: A sum of 1% of RO 7000/- (RO 70) per month till the end of policy term
or till the survival of child, whichever is earlier.

The benefits are as follows:

1) A sum of 1 % of RO. 7000/- (RO 70) per month till the end of the policy term.

2) The sum assured of RO. 7000 at the end of the policy term.

3) Guaranteed Bonus @ 2% of the Sum assured for 15 years - (RO 140 x 15) = RO 2100 paid at the end of the term

4) Non-guaranteed bonus for 15 years paid at the end of the term

So the net benefits that Ali's families received are as follows:

Lump sum immediately	RO 7000	Protection Benefits
Income to support Ali's Family	RO 70 per month
Waiver of premiums for 11 years
Bonus for 15 years payable on the maturity date	RO 2100
Another Lump sum on the date of maturity	RO 7000
Non-guaranteed Bonus (profits declared from time to time)	RO 2100

Q: What happens if Ali unfortunately becomes disabled (permanent, total) due to some major illness/ accident during this period?
A: Following benefits would be extended through the Childcare Savings Plan:

1) All the future premiums are waived.

2) A sum of 1% of the Sum assured (RO 70) would be paid per month as family income till maturity date or till the survival of child, whichever is earlier.

3) Sum assured would be paid on the maturity date.

4) The guaranteed and non-guaranteed bonus would be paid for 15 years.