Term Insurance in Dubai | UAE | Dhanguard
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Term Insurance

Acquiring Term Life Insurance

In the event of the insured's untimely death, term life insurance offers financial protection to the nominee. This coverage is provided for a set amount of time. It is the most basic insurance policy available in the UAE, with competitive premium rates. Dhanguard will walk you through the whole process and answer any questions you might have.

Term Life Insurance provides financial coverage to the nominee in case of sudden death of the insured. This coverage is delivered for a specific period of time. It is the most basic insurance policy with affordable premium rates available in UAE. Dhanguard will guide you through the whole process as well as solve your queries.

The insurance also offers coverage to the insured family in case of any financial crises due to the unintentional disability of the insured that has led to loss of their income.

What is the Need for Term Life Insurance in the UAE?

With the changing lifestyle and higher cost of living in the UAE, attainment of term life insurance for your family is very much useful. The main need of acquiring a term insurance policy is that it approaches with less premium rates.

The other reasons for having the term insurance are as follows-

  1. In case of an sudden death of the insured, the advantage can be availed by the family members;
  2. As compared to other premium insurance, the premium for term insurance is less as well as affordable that will help you to plan for your child education, retirement, purchase of any property and many other things for your livelihood;
  3. The payments are customized as per the obtainability of the insured. The insured person can pay it as monthly payment or as a one-time payment;
  4. Various conditions can be added to your prevailing term insurance policy which surges the coverage. Conditions such as critical illness, permanent disability, and accidental death can be added further as an additional coverage to the policy.
Who is eligible to get Term Life Insurance in UAE?

The minimum eligibility of availing term insurance in UAE is the age criteria. Person availing this insurance has to be minimum of 18 years and the maximum of 65 to 75 years which is totally based on the insurance provider.

What are the Documents Required for Term Life Insurance?

Based on the necessities of insurance companies, the documents differs. Still, the common documents required in UAE are as follows-

  1. Emirates ID
  2. Residential Visa
  3. Recent Photographs

How to choose the Best Term Insurance?

Acquiring insurance always comes with numerous questions and thoughts such as which is the best term insurance policy and the assessment with other insurances would be advantageous. A few tips on how to select the best term insurance are as follows-

Affluence Ratio

Affluence ratio aids the insurer you select with an insurance based on the fiscal capability of resolving the claim if the necessity arises.

Age

Always choose for insurance that offers you with maximum coverage. It is challenging to get insurance for people of age as their chances of pre-existing illness are greater.

Inflation

The significant point that one needs to understand is that inflation plays an important role in insurance policies. One should always look for insurance which offers increasing coverage every year by a locked percentage or is guided to the inflation frequency.

What are Inclusions in Term Life Insurance in UAE?

Term insurance comes with certain inclusions that are stated as follows-

Death benefit

The insured amount can be used by the family members in case of the sudden demise of the insured person.

Family Income Benefit

In some circumstances, the insured can come across any kind of disability and is incapable to provide an income to the family. Thus, this policy will help with a monetary amount on a regular basis that might meet their day-to-day expenditures.

Financial Protection

Financial assistance can be availed from the policy in any inevitable situations such as school fees, EMI, debt repayment and many more.

Family Takaful

Such assistances are provided by some insurance companies that can help cover any fatal illness of the insured or family member of the insured.

Frequently Asked Questions

The coverage under insurance is totally based on the requirement of the family. Always pick for a policy that exclusively covers your family and its terms.

The best way to select an insurance policy is by comparison of various insurance policies. There are many selections available in the market to check and claim the best term insurance policy.

The basic required information while purchasing term insurance in UAE are personal information, residential proof and premium amount.

The policy is valid till the insured pay the premium amount.

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