Abdul Latif Jameel Motors introduces complimentary insurance on new Toyota purchases

Saudi Arabian consumers can now enjoy added confidence when they buy a new Toyota vehicle after Abdul Latif Jameel Motors announced it will provide complimentary payment protection insurance on car finance deals, in partnership with Saudi Arabian-based insurance provider, Al Rajhi Takaful.

Now, when consumers buy a vehicle through Abdul Latif Jameel Finance, they will receive payment protection insurance completely free of charge. Eligible customers will, therefore, be able to consistently manage the repayment of their credit agreement, even if their circumstances change through events including injury, permanent disability, or involuntary loss of employment.

Mahboob Khan, Managing Director, Group Insurance at Abdul Latif Jameel, said: “With our unemployment and payment protection insurance – provided free with every new Toyota vehicle financed through Abdul Latif Jameel Finance – we hope to take away some of the apprehension about purchasing a vehicle.  This is in line with always putting customers and guests at the heart of everything we do.”

 

Abdul Aziz Bin Mohammed Al Sedeas, Al Rajhi Takaful Chief Executive Officer said: “We are proud to partner with Abdul Latif Jameel Motors to innovate new products and bring them to the Saudi Arabian market. We have a strong record of working together and will continue to strive to develop further new products with Abdul Latif Jameel.”

Abdul Latif Jameel Motors is the first company in Saudi Arabia to offer complimentary payment protection insurance.

To qualify, individuals must:

  • Purchase a new Toyota vehicle through a lease agreement with Abdul Latif Jameel Finance
  • Be a resident in Saudi Arabia
  • Be in employment, and
  • Be over 18 years old.

The initiative is the latest in Abdul Latif Jameel Motors’ commitment to supporting Saudi Arabia’s economy and citizens. In 2017, the company announced a new intake of Saudi Arabian management trainees – helping to empower future generations with training and employment opportunities.

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