Short Term Disability Insurance - Short term disability insurance is a type of insurance plan designed to compensate for the lost income due to a disability
Buy a term plan and secure your family
Term insurance in the UAE is an affordable option to secure your life and provide financial assistance to your family during unforeseen events. Due to its popularity and affordability, the insurance companies come up with various customisations to the basic plan to suit the customer’s needs. Among various options, the insurance providers offer term insurance plans for spouses, protecting both the husband and wife under a single insurance plan.
The spouse term insurance plan provides comprehensive protection to the husband and wife in case of the untimely death of either of them. In addition to being cost-effective, these plans also offer a larger insurance benefit at a lower premium. Along with extensive protection, you also get various benefits and additional riders offering customisation to your plan. These factors make spouse term insurance a viable option for working couples to opt for joint term insurance in the UAE. The article below provides details of term insurance for spouses along with its features and benefits.
For working couples, term insurance plans are available as joint insurance plans, offering extensive coverage against untimely death and other life threats. Earlier, the term plans were mostly opted by the working male member of the family. However, with equal employment opportunities today, women as working professionals also need life protection to secure themselves and their families during untimely events. To resolve the issue, the insurance providers in the UAE offer joint term insurance plans for husbands and wives. Being a joint plan, the spouse term insurance is affordable and easy to manage. It also offers various add-on riders that couples can opt for to customise their protection plan by paying an additional premium.
You may also like this - Term Insurance for Family in UAE |
A term insurance plan is a specific life protection plan that provides security for a fixed tenure without any return on investment. Due to this reason, term insurance plans are cheaper in comparison to other life insurance plans. However, opting for separate term insurance for both husband and wife can be a bit expensive and also harder for the working spouses to manage their premiums.
To eradicate such problems and provide better term insurance for spouses, several insurance companies offer spouse term insurance plans in the UAE. With a joint term insurance plan, you can secure yourself and your spouse under a single term life insurance plan while enjoying extensive protection against various life threats. In the event of the untimely death of one of the spouses, the other gets death benefits to meet the funeral expenses and to look after the children. As a spouse term insurance policyholder, you can opt for payouts at regular intervals or choose a lump sum payment depending on your requirements. You can also opt for various add-on riders that cover critical illnesses, permanent disability and other life threats.
Along with life protection, the spouse term insurance plan provides various other features enhancing your insurance plan. The key benefits of spouse term insurance plans are mentioned below.
You may also like this - Term Insurance - The Key to Secure Your Family's Future |
Some benefits of spouse term insurance plans in the UAE are given below.
Young and married couples having a nuclear family are the best-fit for spouse term insurance plans in the UAE. Due to financial constraints and fewer savings in comparison to established families, both spouses need to work to meet their expenses. In such cases, choosing affordable life insurance becomes crucial to stay protected.
A joint term insurance plan not only provides a larger sum assured but also gives them the flexibility to pay their insurance premiums. The plan protects both the working members against death and disability while also securing their beneficiaries (children and dependent family members).
Alternatively, young parents with active loans should also opt for spouse term insurance so that their children remain burden free financially during any unforeseen event.
With numerous term insurance plans available in the UAE, several insurance companies offer insurance plans for husband and wife. However, finding the best spouse term insurance plan that suits your needs can take time and effort. So, we at Policybazaar.ae have compiled a list of top spouse term insurance plans to ease your selection process.
Insurance Provider |
Name of Insurance Plan |
---|---|
Alliance Insurance |
Solidarity - New Joint Insurance Plan |
LIC International |
Double Cover Joint Life Insurance |
Zurich Insurance |
International Term Assurance |
AXA Insurance |
Simple Life |
Solidarity - New Joint Insurance Plan from Alliance term Insurance protects both the husband and wife simultaneously. If any of the policy members die during the insurance term, the insurer provides assured benefits according to the policy terms and conditions.
Following are the key benefits of Alliance Insurance Solidarity - New Joint Insurance Plan.
With a Double Cover Joint Insurance Plan, LIC International term Insurance offers affordable term insurance to married individuals for securing their family during unforeseen events. The plan simultaneously covers the husband and wife under one term policy and pays the insurance benefits to the living spouse to meet financial needs.
Following are the key features and benefits of LIC International Double Cover - Joint Life Plan:
With Zurich Term Insurance, you can cover yourself and your spouse simultaneously with a single insurance plan and enjoy better life coverage and peace of mind. The joint term plan pays the death benefits if any one of the policy members dies during the policy tenure. However, to include your spouse in the insurance plan, you will need to pay a slightly higher premium.
Following are the key features and benefits of Zurich International Term Assurance (ITA):
AXA Simple Life is one of the most affordable and beneficial term insurance plans covering both husband and wife in a single plan. With the spouse term insurance plan from AXA, you get coverage of up to AED 3.6 million with a premium of as low as AED 10 per month. You can conveniently buy the AXA Simple Life joint insurance plan online and conveniently pay your premiums in monthly or yearly installments.
Following are the features and benefits of AXA Simple Life Insurance:
You may also like this - 5 Best Term Plans for Family in the UAE |
Conclusion
With a spouse term insurance plan, you not only get coverage for both husband and wife but also get to pay discounted premiums. Additionally, the joint term insurance plan provides better coverage, securing your dependent members during tough times. As a spouse term insurance policyholder, you get several add-on covers like premium waiver, critical illness cover, and permanent disability cover. These factors make spouse term insurance a feasible choice for young married individuals with nuclear families.