HAYAH Term Insurance

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In today’s world, the importance of term insurance is certainly beyond any doubt. It not only provides financial security to one’s loved ones in their absence but also acts as a safety net to mitigate the financial uncertainties that life often throws our way.

With a rapidly evolving insurance landscape in the UAE, multiple term insurance providers offer an array of insurance plans in the country, with their plans tailored to the unique requirements of different individuals.

Amidst this sea of offerings, HAYAH term insurance has emerged as an exemplary choice among UAE residents, known for its innovative approach to insurance solutions.

In the following article, we will dive deeper into the specifics of HAYAH term insurance and explore its various plans, features, inclusions, and claim process, among other details. Through this comprehensive guide, you will also get an understanding of why HAYAH term insurance is the preferred choice for many.

What is HAYAH Term Insurance?

HAYAH, among the UAE’s newest and most invigorating insurance companies, specialises in life, medical, and savings policies. Registered with the Central Bank of the UAE and listed on the Abu Dhabi stock exchange, HAYAH Insurance Company P.J.S.C is an exciting addition to the country's insurance sector.

What sets HAYAH apart from other providers in the country is its cutting-edge digital interface which offers an effortless and secure user experience. This, in turn, makes the selection and management of insurance a seamless process.

HAYAH extends two specialised types of term insurance plans to suit different needs and circumstances -

  • Term Life Protect Plan: This comprehensive package is designed to shield you or your beneficiaries from financial burdens that may arise due to unfortunate events like loss of life, terminal illness, or disability. This plan offers a flexible term range, allowing you to choose coverage for anywhere between 1 to 35 years as per your specific needs and long-term plans.
  • Simple Life: This HAYAH term insurance plan focuses on providing coverage for various circumstances such as natural loss of life, providing beneficiaries with a safety net in the unfortunate event of the policyholder's passing. Additionally, this plan covers accidental loss of life as well as accidental loss of life in a common carrier to provide an extra layer of financial protection for those who frequently travel using common modes of transport.

Features and Benefits of HAYAH Term Insurance Plans

Have a look at the prime features and benefits of HAYAH term insurance plans in the table below -

Aspects Term Life Protect Simple Life
Coverage Provides you or your beneficiaries with coverage against loss of life, terminal illness, and disability for a duration ranging from 1 to 35 years Provides coverage against Natural Loss of Life, Accidental Loss of Life, and Accidental Loss of Life in a Common Carrier
Premium Payment Premiums can be paid in either AED or USD, and you have the flexibility to choose the frequency that suits you – monthly, annual, or single premium Premiums can be paid at a frequency that suits you – monthly or annual
Coverage Limit Coverage up to a limit of USD 50,000,000 Coverage up to a limit of AED 3,600,000
Premium Stability The premium amount remains constant throughout the term of the policy. The premium amount remains constant throughout the term of the policy.
Additional Features Benefit from free temporary life cover from the moment you fill in the application form until the policy is issued. Added benefits such as HAYAH’s Priority Screening are also included. You can insure your spouse under the same policy at a discounted premium. 

Eligibility Criteria of HAYAH Term Insurance Plans 

To be eligible to purchase HAYAH term insurance plans, you must meet certain criteria.

Here's a table highlighting the requirements for each of HAYAH term insurance offerings-

Aspects Term Life Protect Simple Life
Residency Applicants must be a resident of the UAE at the time of applying. Applicants must be a resident of the UAE at the time of applying.
Age at Entry The entry age for this plan ranges from 18 to 79 years. The entry age for this plan is from 18 to 59 years.

It's important to note that these are the basic eligibility criteria for HAYAH term insurance plans. For detailed information on policy terms and conditions, it's always recommended to reach out to HAYAH directly or carefully review the policy documents before making a decision.

Claim Procedure for HAYAH Term Insurance Plans

Understanding the claim process is a crucial aspect to consider before purchasing any insurance plan. It's the procedural roadmap that leads to your insurance payout, the financial protection that you've been investing in.

In the unfortunate case of an incident triggering insurance coverage, the last thing you want is a cumbersome or confusing claims process. Being well-versed in this process allows you to take immediate, appropriate action without losing valuable time, thus, ensuring that you or your beneficiaries receive the due benefits as promptly and smoothly as possible.

HAYAH, cognisant of the importance of a straightforward claim process, has made this a core feature of their offerings. The process with HAYAH is designed to be user-friendly and easily navigable, which ensures a hassle-free experience for policyholders during a potentially challenging time.

Here is a step-by-step guide to initiate the claim process with HAYAH term insurance:

  • Visit the official website of HAYAH Insurance.
  • Scroll to the bottom of the homepage and click on the 'Contact Us' section.
  • You'll be redirected to a new page with various options to reach out to the company.
  • Click on the 'Claims' section to initiate the claim process.
  • A form will appear, prompting you to fill in various details. These details will include your name, contact preference (via email or phone), your contact number, and your email address.
  • Type your query or claim details in the designated spaces.
  • Once done, a representative from the provider’s side will soon contact you and aid you in your HAYAH term insurance claim process.

Who Should Buy HAYAH Term Insurance Plans?

HAYAH term insurance plans are designed to cater to a broad range of individuals, taking into account various needs and life stages. The eligibility criteria for these plans, as discussed earlier, indicate that any UAE resident within the specified age range can apply.

Let's delve a bit deeper into the two plans to understand who they might be most suitable for.

Term Life Protect plan

The Term Life Protect plan offers coverage against loss of life, terminal illness, and disability for durations ranging between 1 to 35 years. Given its wide age range (18 to 79 years at entry) and high coverage limit (up to USD 50,000,000), this plan could be ideal for individuals in various life stages - from young adults establishing their careers to older adults wanting to secure their family's financial future. 

This plan can provide a safety net for those with significant financial responsibilities, such as mortgages or children's education costs, or those who wish to leave behind a sizeable financial legacy.

Simple Life Plan

The Simple Life plan primarily focuses on providing coverage against natural loss of life, accidental loss of life, and accidental loss of life in a common carrier. With an entry age of 18 to 59 years and a coverage limit of up to AED 3,600,000, this plan could be a good fit for younger to middle-aged adults, particularly those who travel frequently using common modes of transport. Additionally, the option to insure a spouse under the same policy at a discounted premium can make this plan an attractive choice for couples.

How to Apply for a HAYAH Term Insurance Plan?

Applying for a HAYAH term insurance plan is a straightforward process when done through the Policybazaarinsurance.ae platform. This intuitive and easy-to-navigate platform simplifies the entire application process, saving you valuable time and effort.

Here's a step-by-step guide on how to apply for HAYAH term insurance on the official platform of Policybazaarinsurance.ae -

  • Visit policybazaarinsurance.ae and navigate to the 'Term Insurance Plans' section.
  • Fill out the necessary details related to your profile in the given fields.
  • After filling out your details, you will be redirected to the term insurance plans quotes page.
  • On this page, use the filter option to sort and select the HAYAH term insurance plans.
  • Apply for your preferred HAYAH term insurance plan.

When you apply for the HAYAH term insurance plan on Policybazaarinsurance.ae, you get to enjoy benefits such as -

  • User-Friendly Interface: The platform has a highly intuitive interface, making it easy even for individuals not very comfortable with online navigation.
  • Comparison Tool: Policybazaarinsurance.ae allows you to compare different term insurance plans from the leading providers in the country in one place. This way, you can choose the best plan(s) that suit your needs.
  • Detailed Information: You can access detailed information about the HAYAH term insurance plans, helping you understand the policies fully before purchasing.
  • Secure Transaction: The platform provides a secure environment for transactions and ensures the safety and confidentiality of your personal and financial details.
  • Customer Support: Policybazaarinsurance.ae offers robust customer support so that you can easily get assistance if you encounter any problems or have any questions during the application process.

With these benefits (and much more), the Policybazaarinsurance.ae platform simplifies the application process and makes it easier for you to get the term insurance coverage you need.

Check out the next section for some frequently asked questions related to the HAYAH term insurance plans.

FAQ's

Q1. What are the main types of HAYAH term insurance plans?

Ans: HAYAH offers two main types of term insurance plans. The first one is 'Term Life Protect', which provides coverage against loss of life, terminal illness, and disability for a duration of 1 to 35 years. The second one is 'Simple Life', which offers coverage against Natural Loss of Life, Accidental Loss of Life, and Accidental Loss of Life in a Common Carrier.

Q2. How does the claim process work with HAYAH Term Insurance?

Ans: The claim process is a fairly straightforward one with HAYAH. Visit the official HAYAH website and click on the 'Contact Us' section at the bottom of the page. Choose the 'Claims' section, fill out the form with your details, and type your query to initiate the claim process.

Q3. What is the age eligibility for the HAYAH term insurance plans?

Ans: For the Term Life Protect plan, the age at entry ranges from 18 to 79 years. For the Simple Life plan, the entry age is between 18 and 59 years.

Q4. What are the unique features of the Simple Life plan?

Ans: In addition to coverage against natural loss of life, accidental loss of life, and accidental loss of life in a common carrier, the Simple Life plan allows you to insure your spouse under the same policy at a discounted premium.

Q5. How much coverage can I get under HAYAH term insurance plans?

Ans: Under the Term Life Protect plan, coverage can reach up to a maximum of USD 50,000,000. The Simple Life plan offers coverage up to AED 3,600,000.

Q6. Can the premium amount change during the term of the policy with HAYAH term insurance?

Ans: No, one of the advantages of HAYAH term insurance plans is that the premium will not change during the term of the policy. This feature ensures stability and predictability for the policyholders.

Q7. What is the HAYAH term insurance plan cost?

Ans: HAYAH term insurance costs vary as per several factors such as your age, health condition, smoking status, and more.

Reviews & Ratings

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