Sukoon Takaful has signed a partnership agreement with the Ministry of Energy and Infrastructure, which is represented by the Sheikh Zayed Housing Programme.
The agreement aims to offer a comprehensive insurance protection umbrella for beneficiaries of housing loans, enhancing the sustainability of the housing support system and expanding insurance inclusion.
This arrangement builds on the Ministry’s ongoing efforts to develop the housing finance system, following the positive outcomes achieved by the initiative launched last year. That initiative marked the first phase of providing insurance coverage for housing loan beneficiaries. The deal establishes a more comprehensive and sustainable framework, ensuring the continuity of these benefits and expanding access to support financing decisions for Emirati citizens, with a particular focus on senior citizens.
Under the agreement, the insurance coverage age limit has been raised to 95 years, providing long-term and comprehensive protection for beneficiaries. This reflects the government's goal to expand access to housing programmes and remove previous constraints that limited financing opportunities.
The agreement also introduces a unified insurance framework covering cases of death or total permanent disability, with extended coverage up to the age of 95.
Mr Mohammed Al Mansoori, Undersecretary for Infrastructure and Transport Affairs at the Ministry of Energy and Infrastructure, emphasised that collaboration between government entities and the banking and insurance sectors is a key pillar in building a flexible and sustainable housing system capable of adapting to economic and social changes. It also supports the delivery of innovative solutions that enhance family stability and improve quality of life in the UAE.