Buy Term Insurance in UAE

Term insurance UAE offers financial protection to your family. It provides a lump sum payment — the death benefit — to the beneficiary if the insured individual dies in the policy term. This coverage is important for those who have dependents relying on them financially.

Term Insurance in UAE
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AED 1 million life cover starting @50/month
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Best Term Insurance Plans in UAE

Here are the best term insurance quotes in UAE are:

98.1% Claim Settlement Ratio
HAYAH Insurance (Previously AXA GCIC)
HAYAH Insurance (Previously AXA GCIC)
  • COVID-19 Coverage
  • Pre Existing Disease Coverage
  • Medical Checkup Not Required
  • Worldwide Coverage
97.5% Claim Settlement Ratio
Sukoon Insurance (Prev. Oman Insurance)
Sukoon Insurance (Prev. Oman Insurance)
  • COVID-19 Coverage
  • Pre Existing Disease Coverage
  • Medical Checkup Not Required
  • Worldwide Coverage
97.9% Claim Settlement Ratio
Zurich Insurance
Zurich Insurance
  • COVID-19 Coverage
  • Pre Existing Disease Coverage: Subject to Approval*
  • Medical Checkup Not Required
  • Worldwide Coverage
97.5% Claim Settlement Ratio
Sukoon Insurance (Prev. Oman Insurance)
Sukoon Insurance (Prev. Oman Insurance)
  • COVID-19 Coverage
  • Medical Checkup Not Required
  • Worldwide Coverage
97.4% Claim Settlement Ratio
Orient Insurance
Orient Insurance
  • Pre Existing Disease Coverage
  • Medical Checkup Not Required
  • Worldwide Coverage
blockqote blue Directly from experts
Our mission is to help you protect your family's well-being with affordable term insurance. We strive to make your experience hassle-free to the greatest extent possible, whether you are purchasing a policy or making a claim. Our dedicated team is here to help you find the best plan for your needs and ensure you get all the necessary assistance with claims, documentation, and more.
Joseph Terrence Business Head - Term Insurance
Joseph Terrence

What is Term Insurance in UAE?

Term insurance is a type of life insurance. It offers financial protection for a set period — usually between 5-35 years. In case of the death of the insured individual in the policy tenure, the insurance company pays a death benefit to the insured’s beneficiaries.

 

With its life coverage, a term policy ensures the financial stability of the insured’s family in unfortunate circumstances. Furthermore, term life plan costs are pretty nominal when we compare their potential benefits. This makes them an excellent option to financially secure your family. 

Term Insurance Insights

Particulars Specification
Term Insurance Cost Starting at AED 50
Plan Coverage Amount AED 1 million
Minimum Entry Age 18 years
Maximum Entry Age 65-79 years depending on the insurer
Term Insurance Plans Tenures

Starting 5 years to 35 years

Countries Covered 190+ Countries covered
Coverage
  • Accident From Day One
  • Sickness From Day One
  • COVID-19 Coverage
  • Worldwide Coverage
Who Should Buy a Term Insurance
  • Young Professional
  • Parents
  • Newly Married Couple
  • Self Employed Individuals
  • Working Women and Single Parents
Features & Benefits
  • Flexible Tenure ( starting 5 years to 35 years )
  • Flexible-Premium Payment Options
  • Easy to Buy
  • High Insured Sum
  • Flexible Payout Options
Claim procedure Can Claim both online and offline
Claim Settlement Ratio 94-98%

Why do You Need Term Insurance?

 

Top 7 Benefits of Term Insurance
Secure your family’s future with coverage of up to AED 1 million, starting at just AED 50/month*.
Available at lower premiums compared to life insurance and other categories.
Help your family maintain their lifestyle even in your absence.
Even in unfortunate circumstances, your family can have funds for children’s studies, marriage, life milestones, and more
Term policies replace the insured’s income in their absence 
Death benefits can be used to pay off outstanding debts and meet future obligations. This makes your family financially stable and debt-free.
Easily customise your policy with various riders related to Critical Illness, Disability, Premium Waiver and more.
term insurance

How Does Term Life Insurance Work?

As mentioned earlier, a term plan provides limited-period life cover to the policyholder and their beneficiaries against unforeseen events. If the insured individual dies during the policy tenure, the insurer provides death benefits to the dependent family members. 

Let’s understand this through a term life insurance example. 

 

Justin got his term plan for his family with the following terms —

  • Age at the time of buying: 35 years
  • Policy term: 20 years
  • Premium: AED 800* per year
  • Life cover: AED 1 million

*The premium is indicative only. Actual prices may vary.

 

Case 1: Justin Passes Away While the Policy is Active Case 2: Justin is Alive At the End of the Policy Term
His family will receive death benefits on filing a claim. For this, they will need to submit supporting documents and any other details required by the insurer.   No death benefit will be provided. The policy will simply expire. 

If you want such life coverage but also want benefits at the term end, check out life insurance here!

How to Buy Term Insurance from Policybazaar.ae
 

With Policybazaar.ae, getting the best term policy is just a matter of a few clicks. Here’s how you can get the best term insurance in UAE in 5 simple steps:

 

1
Go to Policybazaar.ae and select term insurance from the topmost bar.
2
Fill in your basic details like name, age, phone number, etc. in the form on the right.
3
Click on 'view quotes' to see the most relevant term insurance quotes.
4
Compare and select the one that suits you the best.
5
Click on apply and follow the on-screen instructions.
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When you buy term life insurance online via Policybazaar.ae, you get an additional advantage of 24x7 expert assistance to help you wherever you get stuck. Alternatively, you can visit your selected provider’s nearby office and submit your application in person.

 

Who Should Buy Term Insurance in Dubai, UAE?

Term Cover is crucial for working individuals, young parents, and people with dependent family members. To secure their loved ones during unforeseen circumstances, they need to buy a suitable plan. Following individuals must choose a term protection plan. 

  • Young Professionals

  • Parents

  • Newly Married Couple

  • Self Employed Individuals

  • Working Women and Single Parents

Young professionals who started working recently have lesser liabilities. It is the best time for them to choose a term insurance plan since they can avail of high insurance benefits with low premiums.

Being the sole earners of the family, parents need term insurance to protect their dependents against unfortunate events and secure them financially. 

A term insurance plan safeguards your spouse, assisting them in managing financial matters even in the event of your passing. 

Being a self-employed individual, you have dual obligations. One towards your loved ones and the other towards your business. The term plan benefits can help secure your venture and your dependent family members. 

Working women and single parents should consider a term cover plan to secure their loved ones from unforeseen situations.

What are the 4 Types of Term Life Insurance? 

There are various term plans in UAE that you can choose as per your security needs and family obligations:

1.  Level Term Insurance

It is the most common type of term insurance UAE. In a level term plan, the premium is pre-decided and remains unchanged throughout the tenure. Among all the term insurance plans, a level term cover is the cheapest in UAE. 

2.  Increasing Term Plan

An increasing term plan is a term policy that increases your assured sum every year at a specific rate. The rate of increment is pre-defined and disclosed to the policyholder at the time of purchasing the plan. The increasing term cover is best suited for individuals with changing life situations since the assured sum increases tackling inflation. Here, the premium for term life insurance UAE may or may not change over the period as per your insurer. 

3. Decreasing Term Plan

Unlike increasing term cover, decreasing term plans reduce the assured sum with every passing year. Again, the declining rate of the assured sum is pre-specified as per your age and health during the plan purchase. Decreasing term policy is suited for individuals with active loans or mortgages. Such term plans work on the notion that your liability decreases with your age, which shows in the reducing sum assured too. 

4. Convertible Term Insurance 

With convertible term insurance UAE, you get the option of converting your policy into whole life insurance, endowment, or money back plan. Individuals with changing financial situations can opt for convertible term insurance. To convert your plan, the insurer may require additional documents or medical check-ups as per the policy requirements.    

How to Find the Right Term Insurance Plan in UAE?

Here’s how you can find the best term life insurance policy for yourself —

  • Compare plans from multiple insurance providers 
  • Check the Claim Settlement Ratio (CSR) of insurers — this figure gives the idea of the number of claims settled against the total claims received
  • Understand your requirements — when getting term insurance Dubai, consider your current income and liabilities as well as your family’s needs, future plans, and more
  • See how easy the claim settlement process is — go with a company that has a straightforward process so that you don’t have to rush in time of emergency
  • Look for a plan that offers riders or add-ons — you can use them to increase the coverage of your term insurance UAE at nominal additional prices

Key Features of Term Insurance in Dubai, UAE

High Insured Sum
At very affordable rates, you can get high coverage. For instance, with premiums starting at just AED 50* per month, you can get coverage of up to AED 1 million.
Easy to Buy
The application process is quick and easy with lenient enrollment criteria. On Policybazaar.ae, you can make a few clicks and easily get the best term insurance for yourself.
Flexible Payout Options
As a policyholder, you can opt for lump-sum payments or staggered payment options, depending on your requirements.
Tenure as You Deem Fit
Depending on your age, you can opt for term cover plans with flexible tenures starting from 5 years to 35 years. Note that the term policy starting age is 18 years for most plans.
Flexible-Premium Payment Options
You can pay your premiums in monthly, half-yearly or annual installments. You also have the option to make a one-time payment for the entire duration of your premiums.
Premium Waiver
In case of permanent disability causing a loss of employment, the insurer can offer a premium waiver. Note that this will be available if you take an add-on with your term insurance in Dubai or any other Emirate.
Discounts and Offers
If you lead a healthy lifestyle (non-smokers/no pre-existing conditions, etc.), you can enjoy numerous offers and discounts when buying term life insurance UAE.

How to Get Term Insurance at Affordable Rates? 

Listed below are a few steps that you can take to get the best term insurance in UAE at affordable premiums — 

  • Start as early as possible: As we saw before, the younger you start, the lower your premiums. So even if you didn’t get a term life insurance policy earlier, it’s better to get it now rather than waiting for more time! 
    Make the first step today!
  • Maintain a healthy lifestyle: Regularly exercising, maintaining optimum BMI, and others can lead to a better life (and lower premiums too!). This is because insurance providers consider your health when assessing your premiums. 
  • Give up smoking: Besides leading to various diseases, smoking can also increase your costs for term life insurance UAE quite a bit! 
    Note: In case you’ve been a smoker, don’t forget to disclose it to your insurer. Hiding information can lead to claim rejections later.
  • Choose a suitable term and coverage: With the right policy tenure and coverage, you can fulfill your family’s requirements without stretching your budget.

With that said, keep in mind that it’s not only about premiums! While you might think getting a cheaper plan is good, it can also cause problems or insufficient coverage when your family makes a claim. This can actually leave them without any financial support in unfortunate circumstances.

Which Insurance Company is Best for Term Plans?

Following is the list of best term insurance companies in the UAE offering term insurance plan

Insurance Company
Term Plan
Claim Settlement Ratio
Minimum Premium
Hayah Insurance
Hayah Term Life Protect
98.1%
AED 57 per month
Zurich Insurance
Zurich International Term Assurance
97.9%
AED 106 per month
Metlife Insurance
MetLife Live Life Now
97.3%
Aed 88 per month
Sukoon Insurance
Sukoon DigiTerm
97.5%
AED 115 per month
Al Buhaira Insurance
Al Buhaira Life Protect
NA
AED 873 per year

What is the Difference Between Term Insurance and Life Insurance?

 

A term policy is a type of policy that financially secures the beneficiary in case the policyholder, unfortunately, passes away during the policy tenure. A whole life insurance plan is a policy that remains active throughout the policyholder’s life. 

Term Insurance

Life Insurance

Affordable premium

Higher premium rates

No surrender value

There is a surrender value

The policy tenure can go up to 30 years. 

The tenure is usually the policyholder’s entire life or specific ages like 95 or 100 years. 

If you are looking for more affordable options, you can opt for a term policy. However, if you want investment and insurance in one place, you can explore life insurance.

 

Read More: Difference Between Term and Life Insurance

Why Compare Term Insurance Policies Online? 

 

When you compare term plans online, here’s what you can enjoy — 

✅ Up to 35% discount* on plans ✅ Best term policies from the leading providers in one place
✅ Zero hassle – all work done from the comfort of your home ✅ Accurate details so that you make an informed decision
✅ Easily find both inclusions and exclusions ✅ Check the most relevant add-ons as per your plan

*T&Cs apply

Which Factors Affect Your Term Insurance Premiums? 

Here’s an overview of the top factors that affect term insurance costs — 

Age  Younger people usually get lower premiums due to lower health and mortality risks
Health Premiums are lower for those without any major illnesses than those having such a record
Sum assured The higher the sum assured or death benefits, the higher your premium for term insurance UAE
Policy term Generally, the longer you get coverage for, the higher your premiums
Lifestyle habits If you smoke or drink regularly, your premiums might increase

What is Covered in Term Life Insurance — and What’s Not?

 

Inclusions
Exclusions
Death due to natural causes or medical conditions Death after the maturity of term policy
Death due to accidents Death due to foreign invasions, wars, or warlike situations
On diagnosis of a terminal illness with less than 12 months of survival period Death due to an undisclosed or pre-existing health condition
Diagnosis of critical illnesses  Death due to alcohol or drug abuse
Permanent and total disability during the insurance tenure Death as a result of criminal activity under UAE laws
Premium waiver in case of total disability Death caused due to sexually transmitted diseases like HIV-AIDS

Additional Add-ons for Term Insurance in UAE

To enhance and customise your term insurance plan, insurance providers in UAE offer additional protection via add-on riders. With a nominal increase in your premium, you can include these riders in your base protection plan. 
Here are some popular add-ons for the best term life insurance in UAE — 

Add Ons Features
Critical Illness cover  The company provides coverage in case of life-threatening illnesses such as cancer, stroke, and more. On the diagnosis of a critical illness, the company provides a lump sum. You can use it for medical expenses as well as day-to-day needs and loss of income.
Accidental Death Cover Beneficiaries get an extra amount in addition to the death benefits in case you die due to an acc  ident. The accidental death benefit is calculated based on the base plan and may have an upper limit as per the insurer.
Terminal Illness Cover Your beneficiaries get a fraction of the assured sum if you are diagnosed with a terminal illness. This amount helps your family cope with situations and meet urgent medical expenses.   
Permanent Disability Cover The insurer compensates your income for around up to 10 years in case of loss of employment due to disability. This way, your family can maintain their prior lifestyle even during unforeseen situations. 
Premium Waiver Cover In case of inability to work due to accident or illness, the insurer waives your subsequent premiums while the policy remains active until the pre-decided tenure.

Documents Required to Purchase Term Life Insurance

Along with satisfying the term life insurance eligibility criteria, you need to submit relevant documents as proof of your identity, age, and address. 

The following is the list of documents you need to submit while purchasing a term policy in UAE. 

  • Emirates ID for UAE nationals and residents,
  • Valid Passport for expats with a valid Emirates ID
  • Utility bills for address proofs.

Term Insurance FAQs

How to choose the right term insurance plan?

To choose the right term insurance plan, you must first consider your family’s needs & lifestyle while also taking account of your income. You can then easily compare different plans from the top providers from Policybazaar.ae for a better idea of what may serve your interests the best .

Is term insurance a good idea?

Investing in term life insurance is a sensible plan for anyone who has a family to take care of. With this type of insurance, you can enjoy peace of mind by knowing that your loved ones will be covered even amidst unfortunate circumstances.

Is term insurance refundable?

Your premium is refunded only if you cancel your policy during the free-look period or if you opt for the return of the premium rider. Term policy premium is non-refundable otherwise. 

How to calculate term insurance?

Term cover can be easily calculated by using an online term insurance calculator. Here, you need to input a few details like the desired coverage amount, desired policy term, age, gender, health, lifestyle habits, and more. 

What is a term insurance plan?

Best term insurance in Dubai is a type of life insurance that provides coverage for a specific period, typically ranging from 5 to 35 years. It offers financial protection to the insured's beneficiaries in case of death during the policy term.

How to buy best term life insurance in UAE?

To buy term life insurance online, you can visit the online insurance marketplace of Policybazaar.ae. Here, you can compare policies from different providers side by side. Simply fill out a basic application form, provide necessary documents, and make the premium payment online to easily buy term insurance in Dubai or any other Emirate.

Can I withdraw money from my term life insurance in Dubai?

Withdrawal of money from term life insurance is generally not allowed as it is designed to provide a death benefit to beneficiaries upon the insured's death. However, some policies may offer options like policy loans or partial surrenders under certain conditions.

How to sell term life insurance?

Selling your term life insurance may not reap you a big amount. It is rather beneficial to convert it into a life insurance policy, if your resources & the policy allows. However, if you still wish to sell your policy, you can do so by finding a reputed broker who will charge a fee for selling it.

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