Best Group Term Life Insurance Plans & Policy with Key Benefits

By Pardeep Garg
  | Published: 15 July 2021

Buy a term plan and secure your family

Average Rating / 5 (ratings ) | 248 Views
Term Insurance in UAE
Secure your family’s future Flat 35% OFF on Term Insurance

T&C Apply

Select Gender
  • Male
  • Female

What is Group Term Life Insurance?

Term Life Insurance in the UAE is a type of insurance that provides financial cover to your family in case of your untimely demise. In case you are diagnosed with a terminal disease or lost physical ability to work or passed away, term insurance provides a lump insured sum to your family to ensure that at least they do not have to struggle financially. Extending the benefits of term insurance, the insurance companies have introduced group term life insurance.

As the name suggests, Group Term Life Insurance is term insurance for more than one person. This plan insures a group of people under one policy. Usually, this plan is useful for companies seeking to offer financial cover to their employees. In the event of the death of the employee, the group term life insurance will pay out the insured sum to the family of the employee ensuring that the family of the employee is financially independent. Numerous companies these days are offering the advantage of group term life insurance in the UAE to attract more talented and dedicated human power to the company.

Key Benefits of Group Term Life Insurance Plans in UAE

Numerous insurance companies in the UAE offer term life insurance plans UAE. However, some companies offer the best group term life insurance plans in the UAE. These include:

  • Alliance Insurance Company
  • MetLife
  • Oman Insurance Company
  • Takaful Insurance Company
  • Union Insurance Company
  • Zurich Insurance Company

Alliance Group Life Insurance

Aiming to offer you peace of mind, Alliance Insurance Company offers a group life insurance plan that provides life cover for all your employees. As per the requirement of your workforce, you can alter the plan and offer protection for families of your office staff. This will give peace of mind to your employees as well boosting their morale and increasing their productivity at the job. Following are the additional benefits offered on the insurance:

  • Accidental Death Benefit
  • Permanent and Total Disability-Accidental
  • Permanent and Partial Disability-Accidental
  • Permanent and Total Disability-Sickness
  • Permanent and Partial Disability-Sickness
  • Temporary and Total Disability-Accident/Sickness
  • Medical Expense Benefit-Accidental
  • Repatriation Benefit-Death
  • Terminal Illness Benefit
  • Critical Illness Benefit
discount offers - Policybazaar uae

To purchase this plan for your employees, you require submitting the following details:

  • Name of your organization
  • Nature of your business
  • Insured Sum for each employee
  • Special hazards undertook by an employee
  • A list of people to be insured
  • Each employee’s date of birth, occupation, and salary
  • Whether the person’s group membership is compulsory or not
  • Past three year’s claim if any

You can purchase Alliance Group Life Insurance Plan at the Alliance Insurance webpage or call at 04 605 1111

Alternatively, you can also purchase this plan at policybazaar.ae.

MetLife Group Life and Disability Plan

According to a study conducted by MetLife group, providing a life cover to your employees is one of the best ways of ensuring their loyalty and boosting their morale. Nothing creates a better working environment than a caring employer. Applying the theoretical knowledge, MetLife has introduced a Group Life and Disability Plan. It is a group term insurance plan that safeguards the financial condition of your employees’ families in case of their untimely demise. Besides, MetLife allows you to make changes to this plan as per need. Following are the benefits offered on the policy:

  • Permanent and Total Disability-Sickness
  • Permanent and Partial Disability-Sickness
  • Accidental Death Benefit
  • Permanent and Total Disability-Accidental
  • Permanent and Partial Disability-Accidental
  • Medical Expense Benefit-Accidental
  • Temporary and Total Disability-Accident/Sickness
  • Repatriation Benefit-Death
  • Terminal Illness Benefit
  • Critical Illness Benefit

Plans offered:

MetLife offers three types of plans for Group Life and Disability Plan in the UAE

  • Multiple Earning Plan: This plan offers group life insurance based on multiples of annual or monthly earnings
  • Flat Amount Plan: This plan offers the same amount of insured sum for all your employees
  • Class Plan: This plan allows to alter plans according to employee’s salary and position in the company

To purchase Group Life and Disability Plan for your employees you can visit MetLife webpage or policybazaar.ae

Oman Group Life Insurance Plan

Oman Insurance Company believes that providing a life cover for your employees is one of the best things that you can do for them. Encouraging office ethics, Oman Insurance Company has introduced Oman Group Life Insurance Plan that lets you provided term life insurance to your employees. This ensures that the family of the employee remains financially independent in case your employee meets an unfortunate accident or is diagnosed with a terminal illness. The benefits offered under this insurance plan include:

  • Customized Plans
  • Life cover irrespective of the cause of death
  • Accidental Death Benefit
  • Accidental Medical Expenses
  • Permanent and Total Disability-Accidental
  • Permanent and Partial Disability-Accidental
  • Temporary and Total Disability-Accident/Sickness
  • Repatriation Expenses
  • Terminal Illness Cover
  • Weekly Indemnity in case of Temporary complete Disability cover
  • Critical Illness Cover

To buy this term life insurance for your employees:

  • Apply offline by visiting one of the branch offices of Oman Insurance Company
  • Apply by Email by mailing all the details
  • Apply by your phone by calling at 800 4746
  • Apply online by visiting the Oman Insurance Company webpage

You can also apply at policybazaar.ae

Takaful Group Family Takaful

When your company is your home, your employees become your family members. Promoting the sentiment of family among the companies, Takaful Insurance Company offers a Group Family Takaful plan. This group life insurance plan provides you with good options to cover the life of your employees and allowing financial freedom to your employees’ families in case of their untimely demise or complete disability. Some of the key features of this plan are:

  • Lower Premium
  • Annual Renewal at a cheaper rate
  • One policy for the whole group
  • Flexibility to tailor the plan later
  • Easy administration of addition and subtraction of members in the group
  • Most employees are covered without any medical test or reports
  • Preparation of quotations within 5 business days of quotation requests from the customer
  • Operational procedures to ensure optimal quality services
  • Well-trained staff
  • Quick Service

You can add supplementary benefits to the plan such as:

  • Temporary Total Disability due to sickness or accident Benefit
  • Permanent Partial Disability due to sickness or accident Benefit
  • Permanent Total Disability due to sickness or accident Benefit
  • Medical Expenses Reimbursement Benefit
  • Accidental Death Benefit-Double Indemnity
  • Critical Illness Benefit
  • Repatriation Benefit
  • Passive War Risk-Benefit

Required details for Uniform Coverage

  • List of employees to be covered
  • Employee Code or any other unique ID numbers
  • Dates of birth

In case of graded coverage:

  • Salaries of employees
  • Designation of employees
  • Length of service

You can purchase this group term life insurance plan at Takaful Insurance Company’s webpage or policybazaar.ae

discount offers - Policybazaar uae

Union Group Life Insurance

If you invest in your employees wisely, you will not need to worry about the growth of your company. With Union Group Life Insurance you can invest in the most important asset of your company, your employee so that your employees can live without stress and focus on their work. Union Group Life Insurance plan provides financial security to your employees’ families against disability, accident, and sickness. This life insurance is one of the most beneficial term life insurance in the UAE with the following features:

  • Cheaper insurance plan
  • Simplified administration process
  • Easy enrollment
  • Financial security
  • Annual Renewal
  • Assured Sum
  • Add-on for riders
  • Accidental Death Benefit
  • Permanent Partial Disability
  • Permanent Total Disability
  • Death due to any cause
  • Temporary Total Disability
  • Repatriation Expenses
  • Critical Illness
  • Temporary Total Disablement Benefits
  • 24 hours coverage
  • Worldwide Coverage
  • Easy Claim Process

To apply for Union Group Life Insurance visit the Union Insurance Company webpage and fill in the e-form. You can also apply for this insurance at policybazaar.ae

Zurich Team Group Life and Disability Cover

Zurich Insurance Company offers group term life insurance for your entire staff to protect your employees from any unfortunate event that might render their family to fend for themselves or financially helpless. The Team group life and disability cover protects against any circumstances that may not permit the employee to work. The benefits offered on Zurich Group Life and Disability Cover include:

  • No Health checks
  • No consideration of pre-existing medical conditions
  • Easier to manage
  • Flexible Annual Renewals
  • Quick and efficient claim handling
  • Lower Premiums
  • Customized Plans
  • Life cover irrespective of the cause of death
  • Accidental Death Benefit
  • Accidental Medical Expenses
  • Permanent and Total Disability-Accidental
  • Permanent and Partial Disability-Accidental
  • Temporary and Total Disability-Accident/Sickness
  • Repatriation Expenses
  • Terminal Illness Cover
  • Critical Illness Cover

To purchase Zurich Team Group Life and Disability Cover, visit Zurich Insurance Company’s webpage and fill in your full name, company’s name, location, Email ID, and Job Title. You can also apply at policybazaar.ae

Applying through policybazaar.ae

At policybazaar.ae you can compare, check, and choose the most suitable group term life insurance that suits your needs. All you need to do is:

  • Visit policybazaar.ae
  • Enter details
  • Check premium and cover for group term life insurance plan
  • Select the most suitable plan
  • Enter the required details
  • Pay the premium amount