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Buy a term plan and secure your family
Founded in 1995, National Life and General Insurance has consistently proven its dedication to protecting individuals and their families over the years. By offering comprehensive life insurance solutions tailored to diverse needs, the company empowers customers to face uncertainties with confidence.
What sets National Life and General Insurance apart is their unwavering commitment to excellence, resulting in numerous industry accolades. Renowned for their exceptional service and innovative products, they have earned prestigious awards, including the Insurance Provider of the Year for three consecutive years. These honours serve as a testament to their steadfast commitment to customer satisfaction and their distinguished expertise in the life insurance sector.
In this article, we will delve into the life insurance plans offered by National Life and General Insurance in the UAE.
As a prominent life insurance provider in the UAE, National Life and General Insurance offers 2 major types of life insurance products. Let’s take a look at their salient features below -
This is an affordable and effective National Life and General Insurance product that assures financial security for the policyholder’s family in case of their unfortunate demise. This life insurance plan enables the family of the deceased policyholder to meet their future financial objectives even in the latter’s absence.
The minimum age to enter this policy is 20 years. The maximum age limit, on the other hand, is 60 years.
Check out the table below for the major benefits that the policyholders and their family members can receive by purchasing this policy -
Specifications |
Minimum Amount |
Maximum Amount |
---|---|---|
Death Benefit (DAC) |
AED 350,000 |
AED 1,800,000 |
Terminal Illness Sum Assured |
AED 350,000 |
100% of the Death Benefit Sum Assured |
Critical Illness Sum Assured (Optional) |
10% of the Death Benefit Sum Assured |
50% of the Death Benefit Sum Assured |
Accidental Total Permanent Total Disability - Waiver of Premium (optional) |
N/A |
Equivalent to the remaining premium from the incident date |
Listed below are some of the salient features of this life insurance product -
This life insurance product from National Life and General Insurance helps organisations financially secure their employees against life’s uncertainties at affordable rates. This plan is usually provided as a part of a comprehensive employee benefit package.
A group life insurance plan offers the employees of an organisation an assured financial safety net to compensate for the loss of income, cover financial obligations, and daily expenses in case of an unfortunate event.
The group life insurance from NLG is vouched for its smooth functioning in terms of ease of removing former employees and adding new employees into the policy. Let’s now look into the basic cover offered by Group Life Insurance from National Life and General Insurance -
Death Benefit - If an employee passes away, the insurance provider would offer a lump sum amount as sum assured. The criteria for choosing this sum assured are mentioned below -
Terminal Illness Benefit - If the employee is terminally ill, the life insurance provider will pay a lump sum amount.
Discussed below are some add-ons that you can opt for your company with this life insurance policy -
Following are the complete details of the inclusions of Individual term life insurance plans offered by the company:
Following are basic and additional value-added benefits of the group life insurance plan offered by National Life Insurance Company:
Life Insurance Plan | Highlights |
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Term Life Insurance Plan |
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Group Life Insurance Plan |
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Following are the eligibility criteria for both individual and group life insurance plans is as follows:
Here are the reasons why you should buy a life insurance plan from National Life and General Insurance -
The best way to purchase a life insurance plan without any hassles is via Policybazaar Insurance UAE. This is an online portal that hosts the best life insurance plans in the UAE from the major insurance players in the country. The website is pretty easy to use and allows you to apply for life insurance in just a few clicks.
To apply for a life insurance plan, you can start by visiting the ‘life insurance’ tab on the home page. You will be then directed to the lead form - fill it out correctly and click on the “View Quotes” button.
This will take you to our life insurance quotes page, where you can look for National Life and General Insurance’s life insurance products and explore their features, estimated premiums, and more. Once you make the decision, click on the ‘Apply Now’ button and follow the instructions mentioned thereon.
You will only need a basic set of documents to buy a term life insurance plan. Listed following is the complete set of all the documentation necessary:
Note: Additional documents may be required as per your company policy for group insurance plans. You can confirm with the HR of the department for the same.
You can file a claim for the term insurance by following the below-given steps:
Terms life insurance plans are supposed to help your dependents financially in case of your untimely demise. So, it is safe to say that you should consider buying a term insurance plan as soon as you have someone relying on you as a dependent. The most popular time to buy term insurance has been recorded to be the 20s and 30s when parents are about to or have retired and you have a family on the way.
Ageing comes with a risk of diseases and illnesses which means an added risk of death for the applicant as well. Since the insurance company will be undertaking a bigger risk by insurance the applicant’s life who has aged significantly, the charge a higher premium to cover for that risk.
This depends on the kind of term insurance plan. The premium amount stays the same throughout the tenure for the level term life insurance plan that the National Life Insurance Company offers.
There are several factors you need to consider when deciding the total assured sum for your National Term Insurance Company term insurance plan. The more responsibilities and dependents and nominees you have, the higher the assured sum has to be for all of them to be compensated and taken care of ideally in your absence.
Yes, the premium charged from smokers is generally higher than that charged from non-smokers.
If you have smoked more than 4 times a week in the past 6 months then you will be considered a smoker. However, not a chain smoker.
Yes, you must disclose any kind or degree of smoking that you do daily or occasionally to your insurance company so that the medical records are correctly filed.
Incorrect records of medical conditions will simply mean denial of national term life insurance claim made by your nominee after your demise.
Yes, the National Life Insurance company will appoint a medical officer to perform the essential medical tests for the term insurance plan. These tests will be basic – just to identify any terminal or critical pre-existing condition that can affect the life expectancy of the applicant.
Yes, you can easily change or add nominees to your national term life insurance in UAE. Simply contact the insurance office and have them help you through the process.
Riders are also known as the add-on plans that can be bought along with the term insurance plan from the National Life Insurance company to customise the basic insurance plan.
Term life insurance policies are more affordable for younger individuals (compared to older ones) due to the fact that healthier individuals generally pay lower premiums compared to older individuals. While people between the ages of 20 and 60 have the option to choose term insurance, starting in your 20s is generally considered an ideal time to enter the insurance market and prepare for your family's future.
A policyholder’s loved ones can get up to AED 1,800,000 as a death benefit upon the former’s unfortunate demise.