Takaful Emarat Term Plan Insurance

Types of Takaful Emarat Term Insurance Plans

Everyone’s financial responsibilities are different. Some people want to protect their family’s future. Others just want to ensure outstanding loans don’t become a burden on their loved ones. To meet these varying needs, Takaful Emarat offers two Shariah-compliant term life insurance plans.

1. Takaful Emarat Fixed Term Life Insurance

The Takaful Emarat Fixed Term Plan is designed for individuals who want a fixed amount of life cover throughout the chosen policy term. If the life assured passes away during the policy period, the beneficiary receives the agreed sum covered, subject to the policy terms and conditions.

Key Features of the Takaful Emarat Fixed Term Plan

The coverage availability, policy terms, and underwriting requirements are subject to the insurer’s eligibility criteria.

2. Takaful Emarat Decreasing Term Insurance

Unlike a fixed term plan, Takaful Emarat Decreasing Term Insurance provides life cover that gradually reduces over the policy period. It is specifically designed to protect financial liabilities that also reduce over time, such as mortgages, home finance, personal loans, or business loans.

As your outstanding loan balance decreases, the sum covered under the policy also reduces accordingly. This ensures that your family is not left with significant financial obligations if something unexpected happens during the policy term.

Many UAE residents finance their homes or businesses through long-term loans. A decreasing term plan helps ensure these liabilities do not become a financial burden for surviving family members.

Key Features of the Decreasing Term Plan

Fixed Term vs Decreasing Term Insurance: Which One Should You Choose?

Choosing between the Takaful Emarat Fixed Term Plan and Decreasing Term Insurance depends on your financial goals rather than simply comparing premiums.

For example, if your goal is to give your family a consistent financial safety net for future expenses such as education and living costs, a Fixed Term Plan may be more appropriate. On the other hand, if your primary concern is that your outstanding home loan or business borrowing does not become your family’s responsibility, a Decreasing Term Plan may be a better fit.

How Does Takaful Term Life Insurance Work?

When you purchase a Takaful term plan, you make regular contributions to a shared participant fund that operates according to Shariah principles. This fund is managed by the Takaful operator. Eligible claims are paid from the fund in accordance with the policy's terms and conditions.

Here’s a simple overview of the process:

1. You select your desired coverage amount and policy term.
2. Your contribution is calculated based on factors such as age, health, lifestyle, coverage amount, and policy duration.
3. Your contributions are allocated according to the Takaful model and policy structure.
4. If the covered event occurs during the policy term, the policy benefit is paid to the nominated beneficiary, subject to the policy terms and underwriting conditions.

Why Should You Buy a Term Insurance Plan from Takaful Emarat?

As an Islamic insurance company, Takaful Emarat operates on the concept of shared contributions and cooperation.

Some of the key highlights that demonstrate Takaful Emarat’s presence in the UAE insurance market include:

These milestones reflect the company’s continued focus on delivering ethical, customer-centric, and Shariah-compliant insurance solutions while supporting individuals and businesses across the UAE.

Note: These figures are based on information published by Takaful Emarat on its official website and may be updated periodically.

Features and Benefits of Takaful Emarat Term Insurance Plans

Takaful Emarat term insurance is available under two different plans. Here are the features and benefits of each type —

Here are its benefits —

• This is a level-term plan
• The policy tenure ranges from 5 years to 35 years
• The premium can be paid annually or by opting for a limited pay option
• It is a Shariah plan
• The riders available with this plan include —
  • Critical Illness*
  • Terminal Illness

*If you choose the critical illness benefit, you make your term plan comprehensive. This plan offers additional coverage in case the life assured gets diagnosed with any of the covered critical illnesses.

Here are the features of this particular cover —

• Cover of up to 50% of the sum assured
• Waiting period of 90 days
• Total illnesses covered - 11 (including cancer, chronic liver diseases, bypass surgery, stroke, blindness, and more)

Eligibility Criteria for Takaful Emarat Term Insurance in the UAE

To apply for Takaful Emarat Term Insurance, applicants generally need to meet the following eligibility criteria:

What is Not Covered (Exclusions) in Takaful Emarat Term Cover?

Standard industry exclusions under Takaful Emarat life policies generally include:

• Suicide or Self-Inflicted Injury: Claims arising from suicide or intentional self-harm within the first 12–24 months of policy inception
• Illegal or Criminal Acts: Death or disability resulting from participation in illegal activities or violation of UAE laws
• War & Acts of Terrorism: Loss or injury resulting from war, invasion, civil commotion, or nuclear contamination
• Hazardous Activities: Payouts may be excluded if death/disability occurs while participating in unapproved extreme sports or aviation (other than as a fare-paying passenger)
• Undisclosed Pre-Existing Conditions: Non-disclosure or deliberate concealment of critical pre-existing medical conditions during application

Who Should Buy Takaful Emarat Term Insurance?

Takaful Emarat term insurance is suitable for individuals who want to protect their family’s financial future and cover major financial responsibilities. It is particularly beneficial for:

Primary Income Earners

If your family relies on your income, this plan can help provide financial support in your absence.

Parents with Young Children

Helps secure your children’s education and future household expenses

Homeowners with Mortgages

Provides financial protection so your family can manage outstanding home loan repayments

Individuals with Financial Dependents

Suitable if you financially support your spouse, parents, children, or other dependents

Business Owners

Can help protect your family’s finances against business-related liabilities and financial commitments

Young Professionals

Buying coverage early may help you secure lower premiums, subject to age, health, and underwriting

What is the Takaful Emarat Term Plan Claim Process?

Filing a claim under your Takaful Emarat Term Insurance policy is simple if you have the required documents ready. Here’s how the process works:

Step 1: Inform Takaful Emarat

Notify Takaful Emarat about the claim as soon as possible. Give your policy details along with information about the insured event.

Step 2: Submit the Claim Form

Complete the relevant life insurance claim form and submit it with the required supporting documents.

Step 3: Provide Supporting Documents

Depending on the type of claim, you may need to submit:

• Completed claim form
• Death or disability certificate
• Medical reports
• Any additional documents requested by the insurer

Step 4: Claim Assessment

Takaful Emarat reviews the submitted documents to verify the policy coverage. It then assesses the claim according to the policy terms and conditions.

Step 5: Claim Settlement

Once the claim is approved, the policy benefit is paid to the eligible beneficiary or claimant as per the policy terms.

Note: The documents and processing time may vary depending on the type of claim and individual policy. Refer to your policy document or contact Takaful Emarat for the latest claim requirements.

Which Factors Affect Your Takaful Emarat Term Plan Premium?

One of the most frequently searched queries is "Takaful Emarat term plan premium." While premiums vary from one applicant to another, insurers generally calculate contributions based on several underwriting factors.

These commonly include:

• Applicant’s age
• Coverage amount (sum covered)
• Policy term
• Medical history
• Lifestyle habits (such as smoking status)
• Occupation
• Financial underwriting requirements
• Any optional benefits or riders selected (if available)

Generally, younger and healthier applicants may qualify for lower contributions, while higher coverage amounts or additional benefits may increase the premium. Final pricing is determined after the insurer completes its underwriting assessment and approves the application.

Frequently Asked Questions

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