Buy a term plan and secure your family
Till a few years back, most of the people were keen on purchasing endowment plans. These plans paid back premiums along with a bonus on maturity.
Lately, due to digital influence because of social media and financial forums, term insurance plan has become popular in the UAE.
Before we dig deeper into the top term plan providers in the UAE it is important to know why we should even buy a Term Insurance Plan.
The following reasons are why people residing in the UAE are more keen on opting for a term plan:
The best term insurance plans in the UAE are detailed below:
Salama, an Islamic Arab Insurance Company, is the world’s oldest and largest Shairah-compliant Takaful solutions provider. Salama believes that a term plan is a critical part of financial planning and therefore, offers the HemayaPlus Term Plan.
This is a convenient plan that helps in eliminating the risk of financial loss that your family may face in case of any unforeseen situation. It comes with built-in Terminal Illness and provides the option of customizing your plan with additional benefits such as accidental death benefit, family income benefit, and much more. It also gives the option of a single or joint life. The entry age for this plan is between 18 and 74 years, and the maximum age at expiry being 100 years. This plan also offers a grace period for up to 90 days.
The Pure Protection protects your family in case of any unforeseen event. This plan is cost-effective and is well suited for short-term financial goals such as coverage to pay off a loan so that your family members' dreams are not in stake in case any unfortunate situation that might happen to you. It can also be used to provide extra protection to your child.
It provides the basic takaful cover and additional covers such as permanent total disability, accidental death, critical illness, takaful contribution waiver. The term of this ranges between 5-30 years and you should be above the age of 20 years and below the age of 64 years at the time of applying.
The Alliance term insurance plan provides you life coverage for a specified period of time, which can be a pre-specified duration of 10, 20 or 30 years or until a specified age of 65 or 70 years. It offers a number of term insurance products, with low premiums and zero cash values.
The premium can be paid for a period of either 3 or 5 years and the protection is provided for either 10, 15, 20 or 25 years. This term plan can also be converted into any life insurance plan offered by Alliance, before the expiry date of the policy.
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Union insurance helps in providing financial security to your family members in case of unforeseen events. The Sure Term International Life Insurance Program is designed to offer you financial protection for your dependents. It provides global coverage, it has a flexible tenure ranging between 1 to 10 years, and it supports easy credit card payments.
To Further Conclude
Term insurance is a convenient and affordable means of financial security for your family in case of any unfortunate situation. It can be accessed at a variety of top providers in the UAE.