Farhet El Omr
Wedding Savings Program
Everyone of us dreams of his children’s wedding ceremony and providing them with all that is necessary for this special occasion. Have you planned well for this event and how will you finance it?
Arab Bank – Egypt in cooperation with Allianz Life Insurance Egypt offers you “Farhet El-Omr” – Savings Program, which enables you to save up and insure your children wedding expenses.
Ahmed is 27 years old, married and has a 3-year old daughter. To insure the marriage costs of this daughter (when she grows up) Ahmed decided to save a monthly amount of EGP 500 or EGP 6,000 annually in “Farhet El-Omr” – Savings Program. He shall increase his savings by 5% to meet up with any economical inflation for the next 20 years [i.e. when his daughter reaches the marriage age. In return of this annual amount Ahmed guarantees a total amount between EGP 371,806 (calculated at 8% annual profit rate) and EGP 458,025 (calculated at 10% annual profit rate).
With “Farhet El-Omr” – Savings Program, Ahmed guarantees to save his daughter's wedding expenses even in case of death or disability – God Forbids – since the company shall pay the premiums on his behalf until the maturity date.
Advantages and Benefits of this Program:
Protection of your investment amounts against inflation with a variation rate between 1% and 7%.
Possibilty to choose the currency of the program; Egyptian Pound ‘EGP’ or U.S. Dollar .
Flexibility of payment, directly deducted from your account at the Arab Bank with no extra charges.
Ease of amending payments every year in accordance with the customer’s wish.
Optional: Guaranteed cash amount to be paid in case of natural total disability or as result of an accident.
Saved amounts subject to tax exemption in accordance with the Egyptian Tax Law.
Coverage of this Program:
Waiver of premium in case of death and wedding expenses payment by the company at contract maturity date.
Provisions of this Program:
The insured should be a customer of Arab Bank – Egypt.
The age of the insured should be between 18 to 60 years.
Minimum monthly premiums that start from EGP 100 or 20 USD.
For more information, please call our customer contact center on 19100
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