HAYAH Insurance Company, a UAE's provider of life and savings protection, has launched a "pioneering savings plan today that provides easy and affordable access to world-class wealth management expertise".
In a statement on 19 June, the UAE regulated firm previously known as AXA Green Crescent said the new ‘Simple Saver' plan "aims to break down barriers to investment, making wealth accumulation and financial planning tools accessible for all UAE residents".
Gone are the confusing processes and endless pages of documentation that put many people off traditional plan, HAYAH said, adding that with an intuitive digital platform, and a minimum investment of only $20 per month, Simple Saver offers clear, trackable investments in a diversified global portfolio managed by BlackRock.
"Simple Saver is a testament to our belief in the power of financial inclusion and our commitment to democratizing investment." said Mohamed Seghir, HAYAH's CEO. "With Simple Saver, we are making wealth accumulation a reality for everyone, regardless of their income level."
Not only does Simple Saver's low annual management fee decrease as a customer's savings grow, the plan allows customers to withdraw their savings at any time through a secure online dashboard. As long as they commit to the plan for at least five years, customers have the freedom to continue saving flexibly until they are 74 years old.
"We believe passionately in inclusive financial growth," said David Howard, head of strategy and digital transformation at HAYAH. "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."
