How a Term Insurance Plan is Useful for Women in the UAE?

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Term insurance is a type of life insurance policy that gives financial coverage to the beneficiary in the event of the policyholder’s demise. Term insurance plans are more budget-friendly and affordable in comparison to other life insurance plans. The insurance plan offers no cash value, but unlike other life insurance plans, this one comes with a guaranteed death benefit.

A term insurance plan can help women protect their whole family against any financial crisis in their absence. A term insurance plan can provide their family with financial security even after their death or disability. Keep reading to know how a term insurance plan can be beneficial for women in the UAE.

Best Term Insurance Plan for Women in UAE

AXA - Life Protect
Term Policy 10 Years
  • Life Cover Upto AED 3 Million
  • Accident From Day One AED 300,000
  • Sickness From Day One AED 300,00
  • COVID-19 Coverage : Yes
  • Medical Checkup : Not Required
  • Worldwide Coverage : Yes
Starting from AED 195 Yearly
Takaful Emarat - Fixed term
Term Policy 10 Years
  • Life Cover Upto AED 3 Million
  • Accident From Day One AED 300,000
  • Sickness From Day One AED 300,000
  • COVID-19 Coverage : Yes
  • Pre Existing Disease Coverage : Subject to Insurer Approval
  • Worldwide Coverage : Yes
Starting from AED 215 Yearly
Noor Takaful - Pure Protection
Term Policy 10 Years
  • Life Cover Upto AED 3 Million
  • Accident From Day One AED 300,000
  • Sickness From Day One AED 300,000
  • COVID-19 Coverage : Yes
  • Pre Existing Disease Coverage: Subject to Insurer Approval
  • Worldwide Coverage : Yes
Starting from AED 600 Yearly
Union Insurance Smart Term
Term Policy 10 Years
  • Life Cover AED 250,000
  • Accident From Day One 100% of Sum Assured
  • COVID-19 Coverage : After 30 days
  • Pre Existing Disease Coverage: Pre-approved upto AED 1,000,000
  • Worldwide Coverage : Yes
  • Maturity Bonus Payout : No
  • Medical Checkup : Not Required
Starting from AED 600 Yearly
National Life Term Plan
Term Policy 10 Years
  • Life Cover AED 350,000
  • Accident From Day One AED 350,000
  • Sickness From Day One AED 350,000
  • COVID-19 Coverage : After 30 days
  • Pre Existing Disease Coverage : Subject to Insurer Approval
  • Worldwide Coverage : Yes
  • Maturity Bonus Payout : No
Starting from AED 260 Yearly
Noor Takaful Pure Protection Cashback
Term Policy 10 Years
  • Life Cover AED 350,000
  • Accident From Day One AED 350,000
  • Sickness From Day One AED 350,000
  • COVID-19 Coverage : After 30 days
  • Pre Existing Disease Coverage : Subject to Insurer Approval
  • Worldwide Coverage : Yes
  • Maturity Bonus Payout : No
Starting from AED 260 Yearly
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Why Should a Woman Take a Term Insurance Plan?

Here are the major reasons why a woman must take a term insurance plan.

  • Financial Security - A term insurance plan offers financial security in the event of the policyholder’s disability or demise. It helps women create financial security for themselves and their loved ones. With a term insurance plan, she can have a regular monthly income in case of her permanent or total disability. 
  • Wealth Development - A term insurance plan helps a woman create a reserve for her family members. With a few term insurance plans in the UAE, the policyholders can invest their money in various financial investment options such as bonds, securities, shares, stock market and more. This helps them get the interest and grow their funds.
  • Retirement Benefits - A term insurance plan helps a woman start planning her post-retirement life at an early age. With a term insurance plan, a woman can get a monthly pension after retirement and maintain her living standards as they were while she was working. The retirement benefits are available in pension plans.
  • Lower Insurance Rates - Women usually get lower interest rates in comparison to other applicants. The insurance companies in the UAE offer a 10 to 20 percent discount on the insurance premiums when a woman buys an insurance policy. 
  • Critical Illness Coverage - A term insurance plan covers all the medical expenses if a policyholder gets diagnosed with any of the critical illnesses like organ failure, cardiac problems, strokes, cancer, etc. Most women have a modern lifestyle that can lead to such medical conditions. A woman can buy a term insurance plan and add a critical illness rider to the same for better coverage and insurance benefits.
  • Special Disability Riders - Most term insurance plans in the UAE offer coverage against different ailments, and the policyholders can choose the one depending upon their medical needs. With these riders added to the term insurance policy, the beneficiaries can receive an increased amount of sum assured in the event of the policyholder’s demise due to any covered ailments.
  • Other Reasons - The best part about the sum assured of term insurance in the UAE is the flexibility of spending the amount of sum assured. The policyholders or their beneficiaries can use this amount to meet any kind of financial requirements such as paying their medical bills, credit card bills, loan EMIs, education expenses, and more.

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What is the Best Term Insurance Plan for Women?

The insurance companies in the UAE offer a wide range of term insurance products for their customers. Choosing the right term insurance for women can be a confusing task for the policyholders. Women in this modern age contribute equally in managing their household finances. So they must also ensure the financial security of their dependants against unfortunate and sudden events.

The best term plan for women should be the one that offers financial protection for the beneficiaries along with the policyholder’s lifetime benefits. This helps them deal with the hospital bills and other medical expenses if they suffer from any critical illness.

You may also like this - 5 Best Term Plans for Family in the UAE

What to Look for in a Term Insurance Policy?

There is no correct or incorrect time of buying a term plan in the UAE. A woman can consider buying one after analysing her present and future financial needs while keeping in mind all the possibilities. 

Here are a few features that a woman must find in their chosen term insurance policy.

  • Maturity Benefits - Before purchasing a term insurance plan, an applicant must check all the maturity benefits of the insurance policy. Most term insurance plans offer lifetime benefits with maturity benefits at some additional cost. The applicants can determine their needs and opt for additional riders to enhance their term insurance plan coverage.
  • Extended Coverage - In UAE, the term insurance plans for women come with the benefit of extended insurance coverage for the policyholders. The applicants must go through all the riders and add-ons available in the policy and add suitable ones based on their needs.
  • Easy Claim Process - An insurance policy must have an easy claim process. The applicants must contact the insurer and ask for the detailed claim process to avoid any difficulties while reporting a claim. They must also check the claim settlement ratio of the insurance company to check how frequently the company settles the reported claims. This helps them make an informed financial decision.
  • Multiple Payment Options - The best term insurance plans in the UAE offer multiple payment options to help policyholders make easy premium payments. The applicants must check out the payment options before buying a term insurance plan for themselves. 
  • Flexible Term - Term insurance plans usually offer flexible terms for the policyholders depending upon their age when they apply for the same. The applicants can choose the policy term based on their financial preferences. They must make sure that they are getting the right deal with flexible insurance terms.
  • Early Withdrawal - There is a clause of early withdrawal of insurance policy in some term insurance plans. If the applicants are financially weak and might need funds to meet some sudden expenses while their policy is active, they must check for this feature with their insurer and opt for the same if required.

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The Bottom Line

Most employers in the UAE also offer insurance cover for their employees. Make sure if the insurance coverage provided by your employer is sufficient or you need to buy your own term insurance plan. 

It is always the best idea to buy an insurance plan of your own. You can visit our website to check out the benefits and features of various term insurance plans and make a wise financial decision. In case you have doubts, you can also call our help and support team. They will take you through the entire list of benefits of a term insurance plan for women, and you can then buy one based on your requirements.

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