Life Insurance

Life Insurance

A life insurance policy is essentially a contract between an individual and an insurance provider, where the company promises to pay a specified amount of money to the family or beneficiary of the individual, in return for regular payments over a period of time.


Joining with a life insurance policy helps to lower the risk of financial difficulties which would be faced by the families in case of the sudden death of the policyholder. Certain life insurance plans offer you the avenue to create wealth. Such insurance plans enable you to make systematic savings and create wealth that can be used for your future endeavours. It alsoe helps you to reach your long-term goals such as buying a home or planning your retirement, child education, traveling abroad, etc.

Types of Life Insurance

Different kinds of life insurance policies exist in the UAE market. Some common types of life insurance plans are described hereunder

  • Term Life Insurance Policy – Term Life Insurance policies are which covers only for a specific term, it may be one year or more depending on the policy. If the policy holder dies the  benefit will be paid to the family of the policyholder during the policy term.  Premiums should be paid compulsory to get benefits. Some term insurance policies are elegible for renewal after termination period. The premiums more often than not increase with age for each renewal.
  • Whole life Insurance Policy – Whole Life Insurance Policy  is an investment linked insurance plan which covers up to the age of 95 years. The customer or investor can avail the benefits of protection from the policy for whole life by paying premiums only for a certain period of time. The Whole Life Insurance policy usually comes with level premium.  
  • Universal Life Insurance Policy -This allows the  policyholder customise their policy by adding a different range of investment options. The  benefits include death benefit, tax benefits and much more.
  • Personal Accident Insurance Policy – This is an optional insurance feature which can be added to the policyholder’s general life insurance policy. This insurance policy will help the family of the policyholder with  expenses such as funeral expense and other expenses after the death of the policyholder.

Types of Financial Investment Plans

  • Pension plan or retirement plan:  This is a typical investment plan, which facilitates you to accumulate a part of your hard earned savings over a long-term period to enable you to have a secured financial future. This Pension Plan will be a great help to deal with the lifes uncertainties after your retirement and ensure you a steady flow of income after retirement. 
  • Savings Plan: This plan helps you to prepare financially for the uncertain personal downfalls and medical emergencies. This can also be treated as a means to achieve your family goals such as  child’s higher education plans, marriages, health emergencies and so on. As this is a low risk plan featuring safety and security to the invested capital it gives you good returns in the long run and a great financial discipline. 
  • Child Investment Plan: By investmenting in this plan you are procuring your future as well as the future of your kid by ensuring your children to explore the best possible facilities to shape up their careers and prepare them to fly on their wings. 
  • General Investments:                                   
  1. Investment in equity
  2. Fixed Income or Debt Investments
  3. Investment in stocks & shares, Bonds
  4. Investment in Mutual Funds, SIP, Unit Linked Insurance Plans, Other Debt Investments.
  5. UAE National bonds

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