UAE-based lender Emirates NBD has struck a long-term partnership with MetLife to offer insurance products and solutions to its customers across the country.
MetLife’s offerings can be availed by wealth, retail and SME clients of the bank. These offerings include customisable protection and savings solutions covering life, accident as well as health insurance.
Customers can avail term plans with high protection covers as well as insurance options for critical illness and disability.
Besides, they can buy whole-of-life protection plans enabling plan contributions for a limited time and lifelong coverage. They can also gain access to savings solutions.
The SME clients can cover business related liabilities. The plans are said to be flexible in payment options and coverage terms.
There will be a 30-day free look period. During this period, customers can return the plan without any fee or commitment.
MetLife Gulf general manager Dimitris Mazarakis said: “These are demanding times for our customers as they confront unprecedented challenges brought by the current situation.
“We are proud to partner with an organisation that shares our vision, values, and priorities.”
In this context, the bank cited MetLife’s study that revealed that 60% of UAE residents are under-insured with insufficient cover against emergencies.
Emirates NBD Retail Banking and Wealth Management senior executive vice president and head Suvo Sarkar said: “As people become increasingly aware of the importance of financial preparedness, we are pleased to provide our customers, in collaboration with MetLife, easy access to best-in-class insurance products and solutions that are integral to their long term financial planning.”
Last December, Zurich Insurance Group unit Farmers Group along with the Farmers Exchanges agreed to buy the US property and casualty business of MetLife (MetLife Auto & Home) for $3.94bn.