LIC Life Insurance Policies in the UAE

With so many LIC policies in the UAE for financial security as well as savings and investment, choosing the right one that suits your specific needs is crucial.
To help you start, we have covered the best LIC life insurance policies in UAE along with their key features and benefits.

Features of Life Protect Term Plan

Find below the key features of this plan —

Benefits of the Life Protect Term Plan

You can enjoy the following benefits with this type of LIC insurance in UAE —

• Financial Protection

In case of the policyholder’s death, the nominee receives the full sum assured. It ensures the financial security of the family members and allows them to meet their regular expenses without any strain.

• Affordable Premiums

Since this is a pure-term plan, it offers high coverage at low premiums, making it a cost-effective choice for many. Furthermore, it provides affordable premiums for non-smokers, which further reduces the cost of the plan for people who lead healthy lives.

• Critical Illness Coverage (Rider)

The CI Rider provides a lump sum payout if the policyholder is diagnosed with any of the 37 critical illnesses. This can provide significant financial assistance in terms of meeting medical expenses, daily expenses, and more.

• Flexibility

You can choose a policy term from 5 to 35 years, with multiple payment modes (yearly, half-yearly, and monthly). This way, you can freely choose your premium payment frequency on the basis of your financial objectives.

Features of the New Future Bright Plan

The key features of this LIC plan are tabled below —

Benefits of the New Future Bright Plan

The key benefits of this plan are as follows —

• Guaranteed Payouts During the Policy Term

You will get 10% of the sum assured after 3 years and another 10% after 6 years. This ensures you have sufficient amount in hand at different stages of life to fulfill your specific requirements.

• Guaranteed Maturity Benefit

At the end of 9 years (fixed policy term), you will receive 102% of the single premium paid (excluding taxes and extra charges) along with a loyalty addition, if declared.

• Beneficiary Benefit

If the policyholder passes away during the policy term, the nominee will receive the full sum assured, even if they have already received the survival benefits.

• Financial Flexibility

If needed, you can take a loan against your policy after 1 year — up to 80% of its surrender value. In fact, you can also surrender the policy after 1 year and get back at least 95% of your premium (after deducting any survival benefits received).

Frequently Asked Questions