Term Insurance with Critical Illness and Accidental Disability Policy

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What does Term Insurance with Critical Illness and Accidental Disability Policy mean?

Term life insurance plan is one of the most affordable financial solutions in the UAE in terms of comprehensive coverage and financial protection for your family in case of your untimely demise. A term insurance with critical illness and accidental disability policy, however, extends to essentially covers your critical health conditions and the associated side effects (due to medication or surgeries). The accidental disability add-here on ensures cover for a permanent disability. The benefit earned here works as a monthly income in case you are unemployed due to a disability. 

Term Insurance Riders: An Overview

While term insurance with critical illness and accidental disability policy is among the most sought-after plans in the country, you can still consider a few riders when securing a term life insurance. The most relevant riders are discussed in detail below:

  • Critical Illness: This rider makes sure that the insured individual gets coverage upon the diagnosis of a critical illness. Some illnesses covered here include cancer, stroke, heart attack, kidney failure, etc. 
  • Permanent and Partial Accidental Disability: This add-on covers the insured if they meet with an accident and end up having a permanent or partial disability. They are paid a fixed amount for a specific period after the accident, with the amount being decided as per the sum assured. 
  • Accidental Death Rider: If the policyholder passes away due to an accident, the accidental death rider provides the beneficiary with an additional pay-out.  
  • Premium Waiver: If you are unable to pay the future premiums owing to the loss of income or disability, this rider will ensure that the remaining premiums are waived while your term life insurance remains active. 

Critical Illness and Accidental Disability Riders in a Term Insurance: Major Inclusions

The critical illness policy provides coverage against several life-threatening diseases and the costs incurred during their treatments (like surgical expenses). Generally, you will be provided coverage for:

  • Hospital admission fee
  • Medication expenses
  • Doctor’s consultation fees
  • Costs of surgery
  • Treatment costs until recovery

An accidental disability policy protects the policyholder in case they become disabled due to an accident, with most of the permanent disabilities covered here. Some disabilities specified in the term insurance with critical illness and accidental disability policy are

  • Neurotic disorder
  • Permanent deafness
  • Permanent blindness
  • Full-body paralysis
  • Leg paralysis
  • Loss of speech

Attributes of Term Insurance with Critical Illness and Accidental Disability Policy

Mentioned below are some common features of policies with critical illness and accidental disability riders:

  • Hospitalisation Costs: With the critical illness rider, all the costs of hospital admissions are covered.
  • Free Health Check-ups:  Several such policy plans in the UAE offer free preventive medical check-ups upon renewing the policy so that you can keep your overall health in check. 
  • Cover for Treatment: The term insurance with critical illness and accidental disability policy covers the costs of hospital room rent, medication, and doctor’s fees.  
  • At-Home Treatment Cover: In case the doctor suggests treatment at home, the insured can get medical attention at the comfort of their home without being required to pay for the medicines and treatment. 

Reasons to Buy a Term Insurance with Critical Illness and Accidental Disability Policy

Term insurance with critical illness and accidental disability policy is immensely valuable in most critical situations as it offers extra protection in terms of finances. With a critical illness cover, the insured can pay off their medical and treatment expenses as well as the expenses incurred due to hospitalisation. This rider helps the insured focus on their recovery without worrying about expenses. 

The accidental disability cover is similarly beneficial, as it can act as a source of income in case the insured faces permanent and partial disability because of an accident. 

Advantages of Term Insurance with Critical Illness and Accidental Disability Policy

Discussed below are the advantages of purchasing term insurance with critical illness and accidental disability policy:

  • Death Benefits: If the insured person passes away due to unforeseen circumstances, the beneficiaries will get the sum assured to equip them for their necessary expenditures as well as maintain their previous lifestyle.
  • Flexible Tenure: The tenure of your term insurance with critical illness and accidental disability policy depends on your age, generally varying anywhere between five years and 35 years. However, with the option of such a long coverage period, you can be assured of prolonged financial protection at nominal prices.
  • Sum Assured at Affordable Premium: Most term insurance plans with these two riders offers extensive coverage, with the amount of the assured sum being offered at reasonable premiums. 
  • Works as Income: The beneficiary can personalise the pay-out option as monthly payoffs upon the policyholder’s death. In this case, it can become a source of income when there is no earning member in the family. 
  • Premium Waiver: In case the policyholder becomes unemployed due to disability, the premium under the term insurance with critical illness and accidental disability policy is waived for the future. The policy, however, remains active. 

Best Term Insurance with Critical Illness and Accidental Disability Policy in the UAE

Policy Name

Plan Type

Coverage

Premium Amount*

Policy Term

Inclusions

Add-On Details

Noor Takaful Pure Protection

Level Term Plan

AED 500,00

AED 1,661

35 years

  • Covid-19 Cover
  • Worldwide Coverage
  • Pre-existing Disease Coverage
  • Critical Illness - Cover of AED 50,000 for 15 years - Charges AED 282
  • Permanent Total Disability (PTD) (accidental and sickness) - Cover for AED 50,000 for 27 years - Charges AED 14

Takaful Emarat - Fixed Term

Level Term Plan

AED 500,000

AED 2,879

35 years

  • Covid-19 Cover
  • Worldwide Coverage
  • Pre-existing diseases are covered based on the insurer’s approval
  • Critical Illness - Cover of AED 50,000 for 27 years

HAYAH Insurance - Term Life Protect

Level Term Plan

AED 50,000

AED 3,783

30 years

  • Covid-19 Coverage
  • Worldwide Coverage
  • Critical Illness - Cover of AED 50,000 for 27 years - Charges AED 277.52
  • Permanent Total Disability (due to accident and sickness - Cover of AED 50,000 for 30 years - Charges AED 271.1

*These premiums are provided at discounted rates.

Exclusions for Critical Illness and Accidental Disability Riders

There are some exclusions in term insurance with critical illness and accidental disability policy for critical illness as discussed below:

  • Illness diagnosed during the waiting period
  • Critical illness developed due to the consumption of tobacco, drugs, or alcohol
  • AIDS
  • Cosmetic surgery
  • Congenital disorder

The exclusions for accidental disability are as follows:

  • Accident under the influence of alcohol
  • Participating in an adventure activity (like car or bike racing) 

Eligibility Criteria for Term Insurance with Critical Illness and Accidental Disability Policy

The following are the common criteria to apply for a term insurance plan:

  • Minimum Age - 18 years
  • Maximum Age - 65 to 79 years
  • Eligible Individuals - Professionals and parents
  • Nationality - UAE citizen or resident

Eligibility for accidental disability -

  • Permanent blindness
  • Permanent deafness
  • Full-body paralysis
  • Physically handicapped

How to Buy Term Insurance with Critical Illness and Accidental Disability Policy in the UAE?

Several insurance companies offer term insurance with riders for the utmost benefit of the insured. To purchase the term insurance with critical illness and accidental disability policy, take the following modes into consideration:

Offline Purchase 

Visit a branch of the insurance provider or the agent with all the necessary documents like Emirates ID, passport and official Emirates Visa (for Expats), medical reports, and utility bills and address proof. 

The representative will help you choose the plan that meets your requirements. You can then include the critical illness and permanent disability riders for your convenience. 

Online Purchase via Policybazaar.ae

To purchase the term insurance with critical illness and accidental illness policy online, you can also visit policybazaar.ae and find a plethora of term insurance plans to meet your requirement. You can compare the plans from the top providers in the UAE and choose one that suits your needs. 

You can then fill in an online form with your personal information and submit the application. A representative will connect with you and brief you about the next steps. You can also earn discounts, offers, and rebates on the insurance plans on our website. 

Key Takeaways

  • Term insurance ensures complete coverage for the insured and their family in case of an adverse scenario and offers financial protection against most critical diseases and related side effects. 
  • The accidental disability cover protects the insured in case of a permanent disability due to an accident. The cover can also be provided in the form of monthly remunerations if you lose your job because of disability. 
  • Some of the most preferred riders in the UAE include critical illness, accidental death, permanent and partial disability, and premium waiver. Of these, the critical illness one covers all the expenses incurred in terms of hospital fees, costs of surgeries, doctor’s consultation fees, and more. 
  • The disability rider usually covers disabilities like neurotic disorder, complete paralysis, loss of speech, permanent blindness, leg paralysis, and permanent deafness. 
  • Some features and benefits of term insurance with critical illness and accidental disability policy are hospital admission cost, cover for treatment, at-home treatment cover, and free health check-ups. 
  • With this term insurance, you get death benefits while the cover can work as a source of income in case of the untimely demise of the policyholder or sudden unemployment due to disability. 
  • You can purchase the term insurance with critical illness and accidental disability policy either by visiting the insurance provider’s branch or online via policybazaar.ae. With the online portal offering a variety of insurance plans to choose from, you can compare and select the plan of your choice.
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