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
In this uncertain world, it is important to secure ourselves and our loved ones to tackle unforeseen emergencies. Life insurance is one such tool that provides financial protection and security against untimely events while offering several other benefits like coverage of accident and hospital expenses. A life insurance policy is basically an agreement between the insurer and the policyholder where the company (insurer) provides an assurance of financial benefits to the policyholder’s family in the event of his untimely death. The policyholder has to pay a premium (regular or one time) to the insurance company to get a life insurance policy. There are many benefits of life insurance including death and survival benefits, easy access to funds during emergencies, a regular source of income, etc.
The life insurance plans offer numerous financial benefits as well as confidence and peace of mind to the policyholder. The policyholder’s family gets an insured death benefit in case of his/her untimely demise and assistance in times of financial needs. Following are some of the important benefits of Life Insurance Plans.
When it comes to the variety of insurance policies in UAE, each life insurance is designed as per the customers’ needs and comes up with its own features and benefits. Below are the types of insurance plans available in the United Arab Emirates.
Term Life Insurance is a basic and one of the cheapest available insurance policies. It guarantees financial assistance to the policyholder for a predefined duration. The family members of the insured individual receive death benefits if he/she dies during the active tenure of the policy. Some benefits of Term Life Insurance are mentioned below:
The Whole Life Insurance Plan provides coverage for the entire life of the policyholder and in the event of his/her demise, the insurer pays the death benefit to the policyholder’s family. Moreover, a saving component is also accumulated and is paid as cash value.
Following are some key benefits of Whole Life Insurance.
Unit Linked Insurance Plan or ULIPs are market linked insurance policies that provide financial protection as well as work as a savings plan. ULIPs offer a unique mixture of investment and insurance to the policyholders. The unit linked insurance plan invests the amount into the market to accumulate extra benefits while providing the benefit of life cover.
Following are some key benefits of Unit linked Insurance Plan
Endowment plans are policies that provide maturity benefits as well as death benefits to the policyholder, thereby acting as an investment and insurance plan at the same time.
Key benefits of Endowment Plans are mentioned below:
The money back policies are versatile insurance plans that offer death benefits, survival benefits and maturity benefits. The policyholder receives a percentage of the assured amount at regular intervals in the form of survival benefit. If the person dies during the tenure of the money back policy, then his/her family receives a death benefit. Moreover, when the plan matures, the policyholder gets the maturity amount after deducting the amount received as a survival bonus. Following are the key benefits of money back policy:
Pension plans are also referred to as retirement plans and provide financial security after retirement. By paying a certain premium in the pension plan, the policyholder accumulates a considerable sum of money that he/she can regularly receive after retirement.
Key benefits of Pension Plans are mentioned below:
It’s clear that having a life insurance plan gives financial assurance in adverse situations and provides peace of mind, security, and confidence. The benefits of insurance plans include easy liquidity during emergencies while providing life and critical illness coverage. Moreover, the life insurance plan can also be a great financial tool for savings and investment. Therefore, it is of utmost importance to hold a life insurance plan to be prepared to face an adverse situation and safeguard your loved ones.