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Term Life Insurance

Insurance that provides financial coverage to the nominee due to the sudden death of the insured. This coverage is provided for a specific period of years. It is the most basic insurance policy with affordable premium rates.

The insurance also provides coverage to the insured family in case of any financial burden due to the unintended disability of the insured which has led to income loss.

Need for Term Insurance in the UAE

With lifestyle changes and higher cost of living in the UAE, getting term insurance for your family is very much beneficial. The major need of getting a term insurance policy is that it comes with lesser premium rates. The other reasons for having the term insurance are:

- In case of an abrupt decease of the insured, the benefit can be availed by the family

- As compared to other insurance premiums, the premium for term insurance is less and affordable which can help you to plan for child education, retirement, property purchase, etc.

- The disbursements are customized as per the availability of the insured. The insured can pay it as monthly payments or as a one-time payment.

- Different riders can be added to your existing term insurance policy which increases the coverage. Riders such as Permanent disability, critical illness, and accidental death can be added as additional coverage to the policy


The minimum eligibility of availing term insurance is 18 years and the maximum availability is 65 to 75 years, based on the insurance provider.

Documents Required

Based on the requirements of insurance companies, the documents vary. However, the most common documents required in UAE are:

- Emirates ID

- Residential Visa

- Recent Photographs

Choosing the Best Term Insurance

Purchasing insurance always comes with multiple questions and thoughts like which the best term insurance policy and the comparison with other insurances would be beneficial. A few tips on how to choose the best term insurance:

  • Affluence Ratio - Affluence ratio helps you the insurer you elect with an insurance based on the financial capability of settling the claim if the need arises.
  • Age - Always opt for insurance that gives you maximum coverage. It is difficult to get covered with insurance for people with older age as their chances of pre-existing illness are higher.
  • Inflation - The important point that one needs to understand is that inflation plays a major role in insurance policies. One should look for insurance that offers coverage with increasing every year by a secure percentage or is indexed to the frequency of inflation.

Inclusions in Term Insurance

Like any other insurance, term insurance comes with certain inclusions:

  • Death benefit - The insured amount can be utilized by the family members, in case of the sudden death of the insured
  • Family Income Benefit - In some situations, the insured has come across any type of disability and is unable to provide an income to the family, the policy would help with an amount on a regular basis that could meet their day-to-day expenses
  • Financial Protection - Pecuniary assistance can ben availed from the policy in unavoidable scenarios such as EMI, school fees, debt repayment
  • Family Takaful - Such benefits are provided by some insurance companies that could help cover any fatal illness

Benefits of Term Insurance

Compared to any other insurance, term life insurances are more affordable, and it can be availed for a higher life cover availing the same premium amount. Some of the benefits of having a term life insurance are:

  • Affordability - With the best plans available at an affordable premium rate which covers the benefits of having term insurance with viable premiums
  • No maturity value - There is no maturity value offered for a term insurance policy. It offers benefits post-death of the insured
  • Flexibility - This insurance policy is very flexible, once the insured stops paying the premiums, the coverage also stops
  • Easiness - Apart from the other life insurance policies, term insurance policies are the basic form of policies

Exclusions in Term Insurance

Having provided a list of inclusions, term insurance also has certain exclusions that cannot be covered:

  • If the death is occurred due to HIV / AIDS
  • Claim raised due suicide / attempted suicide or self-inflicted injury
  • Claims related to any illegal activities
  • Death due to alcohol driven accident
  • Claims related to childbirth or pregnancy complications

How to Claim a Term Life Insurance?

  • Step 1 - Claim Intimation - It is very important that the claim must be first informed to the insurance company. The insured needs to register the claim through customer service or through the insurance company directly.
  • Step 2 - Claim assessment - Once the claim is submitted, the insurance company will scrutinize the claim with the provided documents and assess to proceed further.
  • Step 3 - Claim settlement - Post assessing, the claim is settled directly to the insured bank account

Need More Info? Here’s Our Expert Guide To Help.

  • How much term insurance cover do I need?

  • How to choose the best term insurance cover?

  • What is the required information while purchasing term insurance?

  • Where should I purchase a term insurance policy online?

  • What is the validity of term insurance?

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