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Top 5 Term Insurance Plans Available in the UAE

By PolicyBazaar
  | Published: 27 November 2019 | Last Updated On: 08 February 2021

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Given the fast and frenzied lifestyle, Financially securing the future of loved ones remains the number one objective for almost everyone in the UAE. This is where term insurance plans come to the rescue of UAE residents.

But what exactly is Term Insurance?

Term insurance plans are the purest form of life insurance products that offer a lump sum amount as the death benefit to the nominee of the policy, upon the demise of the life insured, during the term of the policy.

But the sheer multiplicity of term insurance plans can baffle even the most seasoned of investors. In fact, most UAE residents often get confused and at times bewildered when they plan to compare term insurance plans and buy the best one in the market.

If you too have been looking to compare term insurance plans and buy the best available options, you’ve come to the right place. We are going to pull the curtains and reveal the top 5 best term insurance plans in the UAE.

So, let’s dive right in. Shall we?

International Term Assurance (ITA)

International Term Assurance (ITA) from Zurich International Life Ltd invariably makes it to the top of all popularity charts amongst UAE residents who are often to be seen looking to compare term insurance plans and get hold of the best one available in the UAE market.

This term plan has been carefully conceptualized and thoughtfully designed to provide comprehensive life cover for up to 80 years and a maximum tenure of 35 years. But what makes this term plan from Zurich International Life sell like hot cakes in the UAE is its excellent claim settlement ratio and company’s feted after-sales service.

Live Life Term Insurance Plan

Live Life term plan from MetLife UAE is yet another popular term insurance plan available for UAE residents. This brilliant plan provide comprehensive financial protection to the life insured and the designated beneficiaries in the event of critical illness or demise of the life insured. This amazing term insurance plan is available in 2 different options:

  • 5-year Renewable Policy: This variant of the plan allows policy holders to renew their existing plan in every 5 year, or convert their term plan to whole life or endowment policy during the first 10 years of tenure of the policy.
  • Level Term: This variant of the plan allows policy holders to enjoy the benefits of a regular term plan with 25 years as the maximum tenure of the policy.

In addition to its 2 brilliant variants, Live Life term plan also comes with a wide range of riders to provide added benefits and protection to the policy holders. Forever Plan is one such rider that provides coverage against Permanent Partial or Total Disability arising out of an accident or sickness.

International Protector Middle East (IPME)

Offered by Friends Provident International, International Protector Middle East is an acclaimed term insurance plan that has been carefully designed to offer maximum benefits and flexibility to the policy holders. This innovative plan comes with 3 distinct cover options. These options are:

  • Life cover or earlier critical illness cover
  • Stand-alone critical illness cover
  • Stand-alone life cover

Policy holders can take their pick of the cover option depending upon their future financial objectives and their budget. But what makes this term insurance plan rather interesting is the fact that it is amongst the most affordable term insurance plans available in the UAE.

Healthee

Next on our list is Healthee, an innovative term insurance policy offered by LIC International. This amazing term insurance plan comes packed with a wide variety of riders. Some of the most notable ones include:

  • Critical Illnesses Benefit
  • Daily hospitalisation benefits
  • Total and permanent disability cover

This term insurance plan is available a maximum tenure of 35 years or for age up to 70 years, which is lower.

Hemaya Plus Family Takaful Term Plan

Hemaya Plus is one of the bestselling term insurance plans offered by UAE’s leading Islamic Arab Insurance Company, SALAMA. This magnificent term insurance policy comes packed with a wide range of unique benefits for the policy holders. Some of the outstanding benefits of the plan include:

  • Maximum Expiry Age of 100 Years
  • Family Income Benefit
  • Total or Partial Permanent Disability Benefit
  • Monthly/quarterly/bi-annual/annual premium payment frequency

This is one of the best options for those looking to compare term insurance plans that are Shari’a approved.

Over to You!

So there you have it – top 5 term insurance plans available in the UAE. But before you jump into action, it makes sense to carefully compare term insurance plans available at your disposal and choose the one that aptly addresses your protection needs and fits well within your budget.