5 Key Benefits of Having a Life Insurance Policy in UAE

Many expats here live, study, and even support families. As your responsibilities grow, however, it becomes crucial to secure the future of your children, spouse, and family. An excellent way to do this is through life coverage. 

For a small premium, your policy can give financial coverage against unforeseen circumstances. Some types can go a step beyond and provide coverage with an investment value as well. Ultimately, the biggest benefit of life insurance for expats is peace of mind. Even if your family is far from you or lives with you in a non-native country, they won’t have to face any financial problems — even if you’re not there.

How Does Life Insurance Work for Expats in the UAE?

Life cover works the same, whether you’re a national or an expat. 

A life policy gives a sum assured to your family if you pass away during the policy tenure. This amount is decided at the time of purchasing the policy. For this coverage, you pay a premium to the insurance company. You can do this in one go or periodically, which could be monthly, annually, and more. Some plans for life insurance for expats in UAE, as mentioned earlier, can also bring an investment component.

You can also find many riders or add-ons. These options can improve your plan’s coverage for a nominal additional price. Some popular add-ons include critical illness cover, permanent disability cover, and more.

Why Expats Need Life Insurance in UAE?

Expats in the UAE often have responsibilities both in the UAE and back home. This includes children’s education, loans, supporting ageing parents, and more. All of this makes life coverage essential.

With expat life insurance benefits, you can keep your family financially safe even in your absence. Without such cover, your children and spouse can exhaust their savings for even basic expenditures. The payout of a policy can help your family manage daily expenses, life’s big events, children’s education, and more. It brings peace of mind in that your family will be protected. This, in turn, can free you to focus on creating wealth without any worries.

Key Benefits of Life Insurance for Expats in UAE 

Without further ado, let’s understand the major expat life insurance benefits —

1. Financial Security for Family

While the UAE is excellent for career and education, it can be pretty expensive. Whether it’s education, food, or any other expense, the costs can run high. In case of your death, the burden of all these expenses can fall on your spouse. 

With a life policy, you don’t need to stress about such issues. If you choose a plan with a high sum assured, the amount can be sufficient to cover your family’s daily expenses, bills, and more. This gives them stability even in such scenarios.

2. Support for Education

Education in the UAE can be costly. In fact, many among us plan to send children to study in the USA, the UK, and more. The education expenses in such places can be even higher. Your untimely demise, however, can derail such dreams. 

With expat life insurance benefits, your children’s education continues as it is. The sum assured can cover not only the tuition fees but also the costs related to living abroad and more. 

3. Replacement of Income

If your income stops due to death or disability, your life plan can step in. Its sum assured can be invested so as to get a monthly income. This regular payout is one of the key benefits of life insurance for expats. It can help your family maintain their lifestyle and fulfil daily expenses without any worries.

4. Support for Ageing Parents 

The parents of many individuals rely on monthly remittances. In case of the death of the insured, the parents can find it difficult to support themselves in old age. However, with the best life insurance for expats, your parents can get a lump sum to replace this support. So even if you’re not there, your parents can still manage their daily expenses, medical costs, and more. 

5. Peace of Mind

Living away from your home can be stressful. This holds true whether your family is living with you in the UAE or back home. One of the greatest benefits of life insurance for expats is the assurance — your family will remain safe, wherever they are. Knowing that their daily expenses and future goals are covered, you can focus on your work and life without constant worries.

How to Get the Best Life Insurance for Expats in UAE?

Finding the right policy can be challenging, but you’re already on the right platform with Policybazaar.ae. This is the best website to compare the top plans from the leading insurers, understand your options, and apply for a plan that best fits your needs. Our experts are there to help you understand policies and make an informed choice.

The process is fairly easy. Click the button below and fill out the specified information. This will take you to our quotes page. Here, you can find the best life plans for expats. After comparing and exploring, apply for a plan.