HAYAH Insurance has launched a savings plan that provides access to wealth management expertise.
The UAE-based provider of life and savings protection aims to break down barriers to investment with Simple Saver. HAYAH also wants to make wealth accumulation and financial planning tools available to all UAE residents.
Simple Saver requires a minimum investment of $20 a month and offers clear, trackable investments in a global portfolio managed by BlackRock.
In addition, the annual management fee decreases as a customer’s savings grow. Furthermore, customers can withdraw savings at any time as long as they commit to the plan for at five years.
“Simple Saver is a testament to our belief in the power of financial inclusion and our commitment to democratising investment,” said Mohamed Seghir, HAYAH’s CEO. “With Simple Saver, we are making wealth accumulation a reality for everyone, regardless of their income level.”
“We believe passionately in inclusive financial growth,” added David Howard, head of strategy and digital transformation at HAYAH.
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By GlobalData“With Simple Saver, we’re challenging norms, breaking barriers, and leading the way in accessible investment solutions. This product marks a significant milestone in our journey towards redefining the investment landscape and making savings and financial planning accessible to all. We firmly believe that Simple Saver will transform the way individuals perceive and engage with investment products.”
HAYAH Insurance is regulated by the UAE Central Bank and is a licensed provider of life insurance, medical and savings products.