UAE’s NBAD Partners With ADNIC To Offer Life Insurance Coverage

The National Bank of Abu Dhabi (NBAD) has partnered with the Abu Dhabi National Insurance Company (ADNIC) to offer 450,000 NBAD Ratibi cardholders life insurance coverage of up to five times their monthly salary.

NBAD is the first and only bank to provide free-of-charge life insurance coverage to low income, under-banked consumers.

The Ratibi service allows employers to credit salaries of up to Dh4,999 a month on a card, allowing employees who use MasterCard or Visa the benefits of accessing their money at of ATMs and merchants worldwide.

“We are adding [to the Ratibi Card] the security of life insurance coverage to a segment of society that greatly needs this service,” NBAD head of direct banking and e-development Ahmed Al Naqbi said, according to Khaleej Times.