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The Best Life Insurance Cover in UAE

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Life is full of uncertainties. While we work hard to provide for our loved ones, it’s certainly worth considering how they would maintain their quality of life if we were no longer able to provide for them.

In the fast-paced world of the UAE, having the right life insurance cover is crucial for ensuring peace of mind and financial security for your family. With a range of simple, flexible, and best-value life insurance products available, you can easily safeguard your loved ones' future and ensure that they don’t face any financial difficulties — even in the face of unfortunate circumstances.

What is the Importance of Life Insurance in UAE?

Life insurance serves as a financial safety net for the policyholder’s family in case of the former’s demise during the policy tenure. This type of insurance ensures that the policyholder’s beneficiaries can maintain their standard of living, meet financial obligations, and pursue their dreams even if the primary earner of the family passes away.

Whether it's paying off debts, funding education, or covering everyday expenses, life insurance provides much-needed financial support during challenging times.

Types of Life Insurance Covers

Does life insurance cover natural death? Will be we reimbursed the amount in case we outlive the term? Such questions can come to our minds whenever buying a life insurance cover for ourselves or our family members.

The answer, however, is more than a plain ‘yes’ or ‘no’. Life insurance in the UAE comes in various types, each designed to cater to different requirements and preferences.

Let's explore the main types of life insurance available across the UAE -

  • Term Life Insurance: Among the simplest life insurance options, term insurance provides affordable coverage for a specified term of years. In case the policyholder passes away during the tenure, this plan will offer financial stability and security to their family by paying out a death benefit to the beneficiaries.
  • Whole Life Insurance Plan: A whole life insurance plan, as the name suggests, remains in force for the insured individual’s entire life. More than simply offering death benefits, it also provides the flexibility to partially withdraw the sum when necessary.
  • Unit Linked Insurance Plans (ULIPs): ULIPs serve a dual purpose — they act as a safety to financially cover one’s loved ones against financial hardships after their demise while also serving as an investment tool. Policyholders can invest a portion of their insurance premium in various asset classes to generate capital growth. The policy's cash value fluctuates based on the net asset value (NAV) of the chosen investment portfolio.
  • Money Back Policy: Similar to what the name indicates, a money back policy offers regular interval payments to the insured, providing a certain degree of liquidity during the policy term. If the insured individual survives until maturity, they receive the balance sum amount. In case they pass away, the full amount is paid to the nominee(s).
  • Pension Plan: A pension plan is ideal for those seeking peace of mind during their retirement years along with insurance coverage. Opting for this plan ensures that you have a regular pension income later in life, which can provide significant financial security after retirement.
  • endowment plan: Endowment plans offer a lump sum payout if the insured individual lives until the maturity date. These plans are known as traditional life insurance policies and often include a nomination option for unforeseen events.

The functioning of these life insurance plans is fairly straightforward. The insured individual pays premiums to the insurance provider at certain intervals (monthly or annual basis) in exchange for coverage. The provider guarantees financial stability for the policyholder’s family in case of death or other unfortunate circumstances. In some cases, the insured individual receives the maturity benefit upon maturity.

Top Life Insurance Plans in the UAE

As mentioned earlier, you will find a range of life insurance products in the UAE to meet your specific requirements. Let's explore some of the best life insurance plans and the benefits that they offer -

Plan Features
Hayah Term Life Protect
  • Life cover of up to AED 1,000,000
  • Passive war risk coverage - 10 years
  • Terminal illness cover of up to AED 500,000
  • 98.1% claim settlement ratio
  • Temporary life cover
  • Pre-existing disease cover (subject to the approval of the provider)
Takaful Emarat Fixed Term
  • Life cover of up to AED 1,000,000
  • Terminal illness cover - AED 1,000,000
  • Pre-existing disease cover (subject to the approval of the provider) 
  • 98.2% claim settlement ratio
  • Worldwide coverage
Watania Takaful Pure Protection
  • Life cover - up to AED 1,000,000
  • Passive war risk protection of up to 10 years
  • Pre-existing disease cover (subject to the approval of the provider) 
  • 98.9% claim settlement ratio
Orient International Term Plan
  • Life cover of up to AED 1,000,000
  • Terminal illness cover
  • Passive war coverage - up to AED 1,000,000
  • Permanent total disability cover of up to AED 100,000
  • 97.4 % claim settlement ratio
  • Critical illness cover add-on available
Sukoon DigiTerm
  • Life cover of up to AED 1,000,000
  • Claim settlement ratio of 97.5 %
  • Pre-existing disease cover (subject to the approval of the provider) 
  • COVID-19 coverage
  • Worldwide coverage

Why Choose Policybazaarinsurance.ae?

Policybazaar Insurance UAE is your one-stop site to get the best life insurance plans in the UAE at the best rates. With us, you can easily compare and get the most suitable plan for yourself  — all from the comfort of your home.

Here’s what we have in store for you -

  • Utmost Convenience: With our easy-to-navigate site and intuitive platform, you can easily go through various plans, compare the best ones as per your requirements, and apply for one in the most seamless manner. With us, getting life insurance is literally a breeze!
  • One Place for the Best Plans: Policybazaarinsurance.ae hosts the best term insurance and life insurance plans in one place. Instead of hopping to different sites, you can simply visit our platform and get the top options in one place. 
  • Seamless Comparison: Extensively comparing the top plans of any insurance product is the key to getting the best one for yourself. With us, you can do that in just a few clicks.
  • Expert Support: Our team of leading insurance experts is always available to assist you at every step of the application, guiding you through the process and helping you make informed decisions. In case you are facing any troubles, you can also connect with our 24/7 customer support team.

To Conclude

Securing your loved ones’ future is a major responsibility that cannot be overlooked. With a range of simple, flexible, and cheap life insurance covers in the UAE, you can rest assured that your family's financial well-being is in safe hands.

Whether you opt for term/life coverage or an innovative hybrid insurance-investment plan, the right life insurance cover will offer you the peace of mind you deserve. The key here lies in getting life insurance as early as possible so that you find the best deals at affordable rates!

So don't wait — take the first step towards a secure future and invest in the best life insurance cover today!

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