Oman Life Insurance ( Sukoon Life Insurance )

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Sukoon Insurance, a name synonymous with tranquillity and security, has emerged as a leading provider of life insurance products that cater to the diverse needs of individuals and families. With a profound understanding of the ever-changing landscape of financial protection, Sukoon Insurance has crafted a range of innovative and comprehensive life insurance solutions.

In a world where uncertainties abound, Sukoon's life insurance products offer a reassuring shield against the unpredictable. Whether it's safeguarding the future of loved ones or ensuring financial stability during challenging times, Sukoon Insurance has curated a portfolio that encompasses the unique aspirations and requirements of individuals from all walks of life.

In this article, we will delve into the intricacies of Sukoon's life insurance products, exploring their features and benefits that bring peace of mind to those who entrust their financial well-being to this esteemed institution. 

Types of Sukoon Life Insurance Plans

Sukoon Insurance is reputed for its impeccable life insurance products for both individuals and families. Its facilities enable you to access your policy online and manage your investments, account, and policy documents. Here are the types of life insurance policies that Sukoon Insurance has to offer -

Term Insurance

A Sukoon term insurance plan offers the life insured a comprehensive cover or a financial safety net for their family in case of their absence. These plans are marked for their quick and seamless claim settlement process.

Detailed below are the type of term insurance products offered by the insurance provider -

Life Guard

This life insurance product not only provides the nominee a lump sum amount but also takes the immediate financial liabilities into consideration in case of the life assured’s passing. 

The Life Guard product offers financial protection to the family as well as the business of the insured individual and handles the remaining loans. It ensures that the assured’s family remains financially stable and maintains their living standard without any difficulties. 

Here are the key features of this Sukoon Life Insurance policy -

  • Age Bracket - 1 year to 80 years
  • Covers critical illness and permanent complete disability till the age of 65 years
  • No requirement for initial medical diagnosis for individuals under the age of 46 years
  • Affordable premium rates for non-smokers
  • Covers all medical tests and charges at the time of policy inception
  • Flexible premium payment options
  • Optional cover for spouse

Term Protect

This term life insurance product pays out a lump sum to the beneficiaries in case of the life assured’s untimely demise. The death benefit amount can be chosen based on the life assured’s needs. There are add-on benefits available to enhance the financial impact caused by a serious accident or illness. 

Discussed below are the key benefits of Term Protect -

  • Personalized Policy  Term - You have the flexibility to select a policy term ranging from 1 year up to the age of 80. Additionally, you can choose between a decreasing or level term based on your specific needs and preferences.
  • Flexible Premium Payment Terms - With this plan, you have the flexibility to select your preferred payment frequency for the insurance premium—whether it's monthly, quarterly, semi-annually, annually, or even upfront. This allows you to tailor your payment schedule according to your convenience and financial preferences.
  • Integrated Accelerated Critical Illness - Included in the policy is a complimentary provision that allows a portion of the sum assured to be utilised for the treatment of specific critical illnesses.
  • Several Riders Available - By paying a nominal additional fee, you get the option to enhance your coverage with extra benefits such as accidental death, disability, critical illness, and more. These optional add-ons provide added financial protection and peace of mind while ensuring comprehensive coverage for unforeseen circumstances.
  • Joint Life Insurance Alternative - You have the option to include spouse cover in this plan, which allows you to select the desired sum assured for each insured individual based on your specific needs.
  • Competitive Premium - This plan provides comprehensive coverage against risks and offers a superior level of financial protection at affordable rates.

Note that several extensions besides the major benefits discussed above are available for these plans such as - 

  • Critical Illness Benefit - In the event of a diagnosis aligning with the specific illnesses outlined in the terms and conditions, this advantageous feature can alleviate your financial difficulties.
  • Permanent and Total Disability Benefit - With this option, your policy can offer an extra payout in the event of permanent and total disability caused by illness or accidents. This additional amount provides added financial support during such circumstances and ensures that you have the necessary coverage to cope with the challenges posed by disability.
  • Waiver of Premium for Disability Benefit - If the insured individual becomes totally and permanently disabled for a minimum of 6 months, the basic policy and any associated riders will have their premiums waived. This waiver will remain in effect until the end of the disablement period or until the maturity of the basic policy/rider coverage (whichever comes first).
  • Accidental Death Benefit - In the unfortunate event of accidental death, the policy will provide an extra payout.
  • Hospitality Indemnity Rider - Subject to the terms and conditions of the rider benefit, this particular benefit provides coverage for the requested amount in case of a hospital stay exceeding 3 days.

Online Life Insurance Policies

Sukoon Insurance offers 2 online life insurance plans that ensure your peace of mind. These policies - DigiTerm and DigiCI - enable you to pay the premiums online from the comfort of your home or workplace with nil paperwork and initial medical examination. The two types of plans are explained below -

  • DigiTerm - This plan is a term life insurance policy that provides a lump sum payment to the designated beneficiary in case the insured individual passes away during the policy term. To qualify for this coverage, the insured individual must be in the age range of 18 to 60 years.
  • DigiCi - This plan provides critical illness coverage, i.e., a lump sum payout upon diagnosis of a critical illness. To qualify for this policy, the individual must be aged between 18 and 55 years. 

With this plan, you can have coverage against major critical illnesses including cancer, heart attack, kidney failure, major organ transplant, coronary artery bypass surgery, and stroke. 

Here are the key benefits of this Sukoon Insurance product -

  • No need to undergo medical examination
  • Coverage of up to AED 1,000,000
  • Flexibility to choose the policy tenure and sum assured value based on your requirements  

Whole of Life Insurance (Life Protect)

Life Protect is a comprehensive whole of life insurance plan that allows you to invest a portion of your premium into your preferred investment funds. This unique approach combines the benefits of long-term life insurance with the opportunity to reinforce your overall savings. With the user-friendly online platform, you can have free access to monitor your investments anywhere and at any time. 

This plan offers a wide selection of global funds and allows convenient online switching between them. With Life Protect, you can have peace of mind knowing that your loved ones will be financially protected even amidst unforeseen circumstances. The flexibility of the policy enables you to adjust the life insurance coverage and premium as your life's needs and financial situations change. 

A key aspect of this policy is that it is portable and can be continued from anywhere in the world, thus, providing you with added convenience and security. 

Here are the key benefits of the Life Protect plan -

  • Extended life coverage tenure up to 95 years of age
  • Attractive loyalty incentives and additional benefits
  • Option to continue the policy from anywhere in the world
  • Wide range of international investment options
  • Worldwide coverage
  • Unlimited complimentary switches between the funds are allowed
  • Enjoy limited premium payment tenure where you pay your premium for a set duration and avail of coverage for the whole life
  • Option to change the extent of your life insurance and premium

Unit Linked Insurance Policies

The following are the 3 major Unit-Linked Insurance Policies that Sukoon Insurance offers -

Smart Invest

This insurance product from Sukoon Insurance efficiently combines the benefits of savings, insurance, and investment in one policy. As the insured individual, you get to choose the funds that you want to invest in with the flexibility to decide how long you want to stay invested. Furthermore, you are also secured by a life insurance policy that ensures 101% value of the account to your beneficiaries in case of an unfortunate event. 

You can choose the premium payment plan between single and regular premium plans. Here are the major benefits of this life insurance plan -

  • Flexible premium payment tenure
  • Medical bills covered by the insurance provider
  • Competitive premium rates for the non-smokers
  • Long policy tenure of up to 61 years
  • A range of additional benefits at affordable rates
  • Higher limits on medical test requirements

Elite Life

This is an investment instrument that also secures your and your family’s future financial requirements. With this life insurance product, you can choose from a range of international investment funds and even switch your funds as per your risk appetite. 

The other part of Elite Life insurance product is the guaranteed life cover that financially covers the beneficiaries in case something unfortunate happens to them. 

Discussed below are the major benefits of this Unit-Linked Insurance Product -

  • Option to choose between single and regular premium
  • A complimentary premium grace period after completing 3 policy years
  • Flexibility to choose from a range of international funds
  • Flexible life coverage
  • Free fund switching option available every year
  • Top-up facility for investments as and when required
  • Facility to partially encash the accumulated value after completing 3 policy years
  • Option to migrate the plan from the UAE to another country of residence

Sukoon Advantage

Sukoon Advantage is a unit-linked insurance plan that provides you with the flexibility to invest in a diverse selection of global funds and switch between them as per your preferences. The plan also includes an additional life insurance cover, assuring a benefit equal to 101% of the fund value in case of the insured individual’s demise. 

With this plan, you have the freedom to decide on the amount and duration of your investments. When it comes to payments, you can opt for regular or single pay investments based on your convenience. For regular investments, there is even the option to make partial encashments within specified limits, which adds an extra layer of control to your financial strategy.

Stated below are the major benefits of the Sukoon Advantage plan -

  • Premium payment tenure ranges from 5 years to 20 years
  • Complimentary investment expert managing your portfolio
  • Option to switch between funds
  • Option to choose investment options from a range of international investment funds

Diabetic Care

The Diabetic Care plan is specifically designed for individuals diagnosed with Type 2 diabetes and provides crucial financial assistance in the face of major medical conditions associated with diabetes. 

This insurance plan offers a lump-sum payment in the event of conditions such as blindness, coronary artery bypass surgery, heart attack, kidney failure, stroke or paralysis, and other major complications arising from diabetes. Additionally, it offers the option for additional cover for cancer. 

Furthermore, in the unfortunate event of the insured member's demise, the plan extends financial support to the family. With Diabetic Care, you can find peace of mind, knowing that you have comprehensive coverage for the potential challenges that may arise due to diabetes.

Mentioned below are the major benefits of this Sukoon Life Insurance Product -

  • Financial assistance in case the insured member passes away
  • Assured protection for major diabetes-associated diseases
  • 20% additional payouts in case the insured loses a limb, given that no benefit is paid for 6 specified illnesses mentioned
  • Include add-on for cancer at a nominal premium
  • Flexible premium payment tenures - monthly, yearly, half-yearly, or quarterly 

Why Purchase Life Insurance from Sukoon (Previously Oman Insurance) Insurance?

Sukoon Insurance is reputed for its assortment of life insurance plans. It is one of the most sought-after insurance providers for the following reasons -

  • Impeccable customer service
  • Utilisation of state-of-the-art technology to design life insurance products
  • Quick claim process and assistance - the company claims to pay out a total of AED 2 billion for claims annually
  • Sukoon Insurance employs global high-standard custodians to manage customer investments and facilitate payments all over the world
  • End-of-service gratuity management solutions
  • Dedicated relationship manager for every plan
  • 24/7 online access to the policy 
  • Flexibility to switch funds online

How to Apply for Sukoon Life Insurance in the UAE?

Applying for a Sukoon life insurance plan becomes a cakewalk with a digital insurance marketplace like Policybazaar UAE. This is the UAE’s largest souq of life insurance, term insurance, and investment plans and offers the best-in-class insurance and investment options from the major industry players including Sukoon Insurance. The digital platform is easy-to-manoeuvre from the convenience of your home or workplace. 

To apply for a life insurance plan, simply click on the ‘Life Insurance’ tab on the homepage of Policybazaar.ae. You will be directed to the lead form - fill it out accurately. Once done, click on the ‘View Quotes’ tab to be directed to our life insurance quotes page. 

Here, you can browse through all the Sukoon life insurance plans on the same screen without going through the trouble of switching tabs to compare the features and premiums. Once you make the decision, click on the ‘Apply Now’ tab and follow the instructions thereon. In case you are confused about which plan you should choose, you can seek assistance from our Life and Term Insurance expert team without hesitation. 

Find out more about Sukoon (Previously Oman Insurance) life insurance plans through the following FAQ section. 

What kind of plan is Sukoon’s (Previously Oman Insurance) Smart Invest?

This is a unit-linked insurance plan that combines the features of savings, insurance, and investments.

What types of life insurance plans does Sukoon Insurance offer?

Sukoon offers 5 major types of life insurance plans - 

  • Term Insurance
  • Online Term Insurance and Critical Illness Policies
  • Whole of Life Insurance (Life Protect)
  • Unit-Linked Policies
  • Diabetic Care
What is a DigiCI plan?

DigiCI is a digital critical illness coverage plan that pays out a lump sum if the insured individual is diagnosed with or faces Cancer, Stroke, Kidney Failure, Coronary Artery Bypass Surgery, Heart Attack, or Major Organ Transplant. To qualify for this plan, the policyholder should be in the age bracket of 18 years to 55 years

How much time does it take for Sukoon Insurance to approve a life insurance plan?

Usually, the time taken for approval depends on the type of life insurance plan you opt for. However, in most cases, the plan gets approved within 5 to 7 business days.

Reviews & Ratings

4.6 / 5 (based on   17,561 +google icon reviews)

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