Life Insurance Dubai
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The Cost of Life Insurance
Many of us overestimate the cost of life insurance and fail to protect our families financial wellbeing.
Still think you cant afford life insurance? Compare the yearly costs against items you wouldn’t give a second thought about buying.
life insurance benefits
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Death Benefit
To ensure that your loved ones don’t financially suffer if you die unexpectedly. The death benefit is the payout your beneficiaries receive if you die. The life insurance death benefit payment is the amount of coverage you purchase when you sign up for your life insurance policy.
Dismemberment benefit
This benefit provides additional cover if the life insured sustains bodily injuries and suffers the loss of sight or limb as a direct of result of those injuries. A lump sum is payable, either full or part of the sum insured, as defined in the policy.
Hospitalisation benefit
This is an optional benefit which is payable if the life insured is hospitalised for 4 or more consecutive days. The lump sum can be used for meeting additional expenses outside the health insurance cover or for compensating the loss of income during the period of hospitalisation.
Critical Illness
Critical illness cover provides our customers with tremendous financial security. It allows for income replacement if the life insured is unable to work as a result of a critical illness covered by the policy. The lump sum pay out in the event of a critical illness diagnosis reduces financial disruptions for the family which might affect daily living and increase expenses
Financial security
Financial security is one of the primary benefits of having life insurance because it provides a safety net for your loved ones in the event of your death. Life insurance can help replace lost income, pay off debts such as mortgages or loans, cover funeral expenses, and ensure that your family can maintain their standard of living without facing financial hardship.
Family income benefit
Family income benefit allows you to provide your family with a regular income, in the unfortunate event of your demise. The family would receive a fixed income on a regular basis for a predetermined term, following the death of the life insured.
Total and permanent disability benefit
Disability cover allows for a family to remain financially independent in the event of total and permanent disablement of the life insured. A lump sum is payable to help meet the increased costs of living with a permanent disability, thereby replacing the possible loss of income.
Additional coverage
Additionally, life insurance can offer peace of mind, knowing that your beneficiaries will have financial support during a difficult time. This assurance can alleviate worries about the future and allow you to focus on enjoying life without the burden of financial uncertainty.
Types of Life Insurance
Each life insurance policy offers unique features and benefits that cater to different financial goals and needs.
- Grant a death benefit if the policyholder deceases during the policy term
- Economical and immune to market variations
- Furnish financial security for the policyholder's family in the event of an unexpected demise
- Lack maturity benefits
- Terminate coverage upon the policyholder surviving the policy term
Each life insurance policy offers unique features and benefits that cater to different financial goals and needs.
- Offer coverage for the entirety of the policyholder's life, often up to 99 years
- Ensure beneficiaries receive a death benefit, irrespective of when the policyholder deceases
- Might involve a cash value element accessible for borrowing or withdrawal during the policyholder's lifetime
- Typically entail higher costs compared to term insurance
- Provide both death benefits and cash value advantages
- Encompasses a collective of individuals under a single master policy, typically offered by an employer
- Coverage remains intact as long as individuals remain part of the group
- If a member passes away while part of the group, their beneficiaries receive a payout
- Generally more economical than individual life insurance
Frequently asked questions
Any questions we are here to help.
Life insurance is a contract between an individual and an insurance company where the insurer promises to pay out a sum of money (the death benefit) to the designated beneficiaries upon the death of the insured person.
Life insurance provides financial protection for your loved ones in the event of your death. It can help cover funeral expenses, replace lost income, pay off debts, and ensure financial stability for your dependents.
The amount of life insurance you need depends on various factors such as your income, debts, lifestyle, number of dependents, and future financial goals. A common approach is to calculate a death benefit that would adequately cover your family's financial needs in your absence.
To choose the right life insurance policy, consider factors such as your financial situation, goals, risk tolerance, and the needs of your beneficiaries. It's advisable to compare quotes from different insurers and understand the features and benefits of each policy type.
Premium life insurance typically refers to whole life or universal life insurance policies where the insured pays higher premiums compared to term life insurance. These policies provide coverage for the insured's entire life as long as premiums are paid and often include a cash value component.
Premium life insurance policies, such as whole life or universal life, provide coverage for the insured's entire life, whereas term life insurance provides coverage for a specific period (e.g., 10, 20, or 30 years). Additionally, premium policies usually have higher premiums but offer lifelong coverage and the potential to accumulate cash value.
Premium life insurance offers several benefits, including lifelong coverage, guaranteed death benefits, potential cash value accumulation, and the ability to access cash value through policy loans or withdrawals.
Some insurance companies offer the option to convert a term life insurance policy to a premium life insurance policy, such as whole life or universal life, without the need for a medical exam. This conversion option allows policyholders to maintain coverage beyond the initial term period.
Exceptional Service, Exceptional Benefits
Whole of life policies provide you with a complete peace of mind. Live knowing that your future needs will be taken care of in the event of any unforeseen circumstances such as an early death or other life events that may threaten the financial security of your family. Whole of life policies generally provide flexibility and convenience allowing for variations in the benefits to suit the changing circumstances in your life.
Whole of life policies provide you with a complete peace of mind. Live knowing that your future needs will be taken care of in the event of any unforeseen circumstances such as an early death or other life events that may threaten the financial security of your family. Whole of life policies generally provide flexibility and convenience allowing for variations in the benefits to suit the changing circumstances in your life.
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