Alliance Term Insurance
Alliance Insurance is a leading insurance provider in the UAE. They have product offerings for corporations, individuals, and government bodies. The organization is particularly known for its term insurance offering.
Before going forward, it is important to understand what term insurance is.
Term insurance provides the policyholder with a life cover that extends for a pre-determined tenure. This tenure can range from 5 to 30 years depending on the customer’s needs. Alliance Insurance is a market leader when it comes to term insurance products that are available at zero cash values and low premiums.
Types of Alliance Term Insurance Plans in UAE
Alliance Insurance offers different types of term plans.
Level Term Plan
This plan offers a sum assured value up to AED 1 million. This is a level term plan, which means that the calculated premium remains the same through throughout the tenure of the plan.
Executive Term Plan
This too is a level term plan, but offers a sum assured value higher than AED 1 million. The plan tenure ranges from 5 years (minimum) to 30 years (maximum).
Limited Payment Term Plan
The applicant has the option to pay the premium for either 3 years or 5 years, for a plan with tenure options ranging from 10 years to 25 years.
Convertible Term Plan
This type of term plan allows the policyholder to convert his/her policy into a life insurance cover.
Key Features and Benefits of Alliance Term Insurance
Term plans provided by Alliance Insurance come with the following benefits.
The beneficiary of the policy will receive a payout in the event of the sudden demise of the policyholder due to any cause.
The guaranteed amount the nominee will receive in case of the policyholder's death. Alliance Insurance offers several sum assured options.
Alliance Insurance offers some of the lowest premiums in the market.
Alliance Insurance term plans come with tenure options of 5 years to 30 years.
Conversion of Policy
The insurer has the option of converting the policy into a life insurance cover offered by Alliance Insurance at the time of conversion. However, this conversion can only be done before the expiry date mentioned on the policy certificate.
Alliance Term Insurance Policies
The table provides an overview of the different term plans offered by the company.
Term Plan Type
Limited Payment Term
Why to Apply Online for Alliance Term Insurance?
The company offers its customers a certain confidence level that goes beyond the policy agreement. Apart from dynamic services, the company also has a helpful and professional support team that is available to provide customers with quality assistance.
Claim Process of Alliance Term Insurance
Alliance Insurance Company dedicatedly assists the beneficiary with the claims process. Here is a rundown of the claim process.
Contact Customer Care
The first step in the claims process is contacting the customer care and lodging the claim.
The next and most important step is the submission of all required documents to the company.
Reviewing and Processing
As part of the final step, the company will review the claim application along with all supporting documents. After the verification is complete, the company will process the claim.
Contact Details of Alliance Term Insurance
FAQs on Alliance Term Insurance
Q.1. How do I make payment of my premium?
Ans: The company gives you the following options for paying your premium.
- Deposits to bank accounts of Alliance with Emirates NBD or Union National Bank
- Direct Deposit at a branch
- Payment through credit card
- Telex Transfer to the company’s bank accounts
- Cash payment at the head office of the company or at the branch of a designated bank.
Q.2. How do I submit a death claim?
Ans: In the event of your death, your beneficiary will have to submit a claim form along with all supporting documents.
Q.3. Can I make the payment for my premium from outside the UAE?
Ans: You can pay your premium through telex transfer from any part of the world to any one of Alliance Insurance’s bank accounts in Emirates NBD or Union National Bank.
Q.4. Are there any special requirements if the policyholder dies outside the UAE?
Ans: If death occurs in a foreign country the death certificate needs to be attested by the UAE embassy in that country and the Ministry of Foreign Affairs. Once attested, it needs to be submitted with the claim form and other necessary supporting documentation.
Q.5. How will the claim be settled if the beneficiary is outside the UAE?
Ans: The due amount will be paid in any chosen currency by telex transfer to the beneficiary’s bank account in any part of the world.
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