Life Insurance

Life insurance pays an agreed sum on the death of the insured, with the option to bring that payment forward on diagnosis of a terminal illness. It is written in Saudi Arabia on a cooperative basis, as protection and savings business.

Employers use it as group cover, so that an employee's family and any end-of-service entitlement are provided for; individuals use it to secure a mortgage or a family's living costs. Sums insured are usually set as a multiple of salary or against a specific liability.