Who are We ?
Our Share Holders:
Who are We ? (Cont.)
About Islamic Arab Insurance Company:
What is Employee Retirement Benefit Plan?
How Does It Work ?
- Benefit under this plan is covered against total amount of monthly contribution received from the participant to cover their members, regular contribution amount is translated into number of units dividing the paid amount by the unit price of the specified investment fund for the evaluation day
- Specified number of units is allocated / credited towards each member unit account listed under their name in the Group Life Takaful Investment Plan, all corresponding contributions paid will accumulate within this unit account.
- Benefit under this plan is paid as a lump sum upon the covered member attaining a certain age as specified by the participant, for example an employee reaching retirement age as set by the employer in the beginning of the contract. The payable amount will be calculated as the unit account value that has accumulated within the unit account of that employee during the period of their membership in the Plan.
- In case of death of the covered member, the accumulated unit account value will be paid to the participant, while in case the employee leaves the company prior to retirement age, the accumulated unit account value can be made available as an end-ofservice benefit.
- No charges are applied for member unit account value surrender.
- Full transparency offered to clients regarding all their unit account values, unit prices and investment funds performance.
Flexible Solutions:
Benefits Options:
Defined Contribution Plan :
Benefits Options: (Cont.)
Desired Target Benefit Plan:
After Sale Services:
We are delighted to provide wide range of policy services to our clients all along the policy inforced term including but not limited to the following:
- Dedicated account Manager.
- Quarterly review meetings.
- Monthly Investment bulletin
- Quarterly Unit Account value report.
- Issuing the cheques within 5 working days.
- Leaver certificates.
- Staff Awareness sessions (if required).
- Online facility (coming soon)
After Sale Services: (Cont.)
Data Maintenance:
- Alterations “Addition & deletion"
- Maturity map “Retirement Age Rule ”
- Contribution Rule.
- Vesting Rule.
- Allocation.
- Categorization.
- Segregated accounts.
Financial reports:
- Individual Statement.
- Investment Reports
- Contributions Reports.
- Surrender Reports.
- Refund Reports.
Our Investments
Data Maintenance:
- All investments are managed internally by MELT-SALAMA team in secure investments and in fixed placements.
- Assets under management are invested in a fund created specifically for the pensioners with a mix of variable investment vehicles with different maturities matching the maturity expectations.
- Full transparency in investment and returns with no hidden fees.
Financial reports:
- This allows your company’s employees to invest in assets within the Egyptian market that were previously accessible only to major investors.
- This security in investments is now required both in the short and long term, especially concerning the retirement savings program.
Our Investments: (Cont.)
- The performance of our portfolio over the years has been excellent, with declared profit rates being very high compared to the prevailing interest rates in the market at that time, The investment approach provides maximum transparency.
- These portfolios combine security through investments as below:
- Treasury Bills.
- Treasury Bonds.
- Corporate Bonds.
- Time Deposits.
- Certificate of Deposits.
- Money Market Fund.
