Wedding Savings Plan

Wedding time is a time to rejoice. It is filled with moments of festivity and togetherness. The entire large family comes together and everybody shares your happiness. But in order to cherish true happiness there must be no financial worries. After all there are the costs of Mahar, Wedding Cards, Clothes (for Bride, Groom and Family), Jewelry, Decoration, hotel charges, Hijla, Catering, Transport and Accommodation for outstation relatives, Religious functions, honeymoon expenses (Singapore, Malaysia, Iran, Dubai and Cairo) etc., that have to be taken into consideration.

Being the day or your dreams, it would be intelligent to plan in advance, lest you suffer or make a compromise on the day of your dreams for want of funds. You need to ask yourself:

  • When do I want to get married?
  • What is it going to cost me considering all the aspects that I need to make it truly memorable?
  • Will I have to manage the entire sum myself or will my parents share the required funds?
  • What is the shortfall?
  • What plans do I have to take care of the short fall?

Start now and have your dream wedding

The Wedding Savings Plan enables one to plan for ones wedding expenses by way of systematically setting aside some money. The maturity amount and additional bonuses are received during the wedding time and helps to take care of the exorbitant wedding expenses. The benefits are: An investment fund and yearly bonuses that will mature at the time of wedding. In case of an unfortunate event it offers protection to the beneficiaries. This Plan offers peace of mind and good return on investment.

  • Affordable Premiums
  • Building a Disciplined savings habit
  • Control at the time of wedding
  • Additional Protection for family members

What you need to do?

Choose the duration of the plan (the term), the total Sum required to be available during the education years (the sum assured) make the decision and start the contributions (premiums) on a monthly, quarterly, half- early or annual basis)

What you get?

  • On the date of maturity, one gets the total of the Sum Assured and the accumulated reversionary bonuses to provide for your marriage expenses.
  • In case of an untoward event prior to the date of maturity beneficiary gets the sum assured and the accumulated bonuses.

Let's take an example
Majid is a young man aged 22 from Muscat. He has just completed his BA in Business Administration from Sultan Qaboos University. Further, he received a job offer from OMANTEL and has been working there for one month. Now Majid is considering getting married in five years (when he would be 27 years old). Majid is aware about the increasing expenses incurred for an Omani Marriage. Majid takes a Marriage Plan from National Life for a SA of RO 8000 aimed at his marriage. This will give him peace of mind and a sense of control that he has planned for his marriage.
Q: At age 27 what will Majid receive from the company?
A: Majid will receive the Sum Assured of RO 8000 on Maturity date.

Q: Any thing else?
A: In addition to the Sum Assured, Majid would receive Reversionary bonus as a percentage of the Sum Assured for 5 years. Further, from the date of his wedding, he has more income (because his contributions have stopped) to match with more responsibility (that of his wife and himself).

Q: What happens in the unfortunate event of death?
A: Immediately Majid's family would receive the Sum Assured of RO.8000 and all the accumulated bonuses.