Life Insurance in Abu Dhabi

What is life insurance?

By definition, life insurance is a policy or cover extended to one’s life by insurers. This policy may cover various areas such as compensation to one’s family after demise or personal compensation following injury as also investment plans that come in handy for future personal or family development. 

Benefits of buying Abu Dhabi life insurance

Buying life insurance in Abu Dhabi is one of the wisest things you would be doing as you work and raise a family here. There are scores of benefits that you achieve when you invest in life insurance.
These include:

  • Compensation to one or their family in case of death or injury
  • Total protection for you and your loved ones
  • All your loans and mortgages are covered
  • In case of terminal illness, the cost of treatment is taken care of

Types of life insurance plans

Below is a list of the most common life insurance types:

Term Insurance plan
This insurance plan covers loss of life and pays the proceeds of the insurance to one’s family in the event of death of the policy holder during the term of the policy.

Whole life insurance plan
Whole life insurance plan is valid till the end of the insured person’s life with their family getting the assured amount plus benefits after the death of the policy holder.

Endowment plan
This package comes with the provision of one’s dependents being paid the benefits in the event of the death of the insured before the end of the policy term. There is also provision for the holder to surrender the policy during its term and get back their premium.

Investment insurance plan
This plan has a dual advantage of investment and insurance cover. The insurance company takes the money you pay by way of premium and pools it with other deposits in order to make prudent investments. At the end of the term, you get back your money plus an agreed interest.

Eligibility to buy life insurance in Abu Dhabi

Despite a few variations here and there, most of the requirements insisted by the insurance companies in Abu Dhabi are standard:

  • Details of one’s health condition and mention of a terminal disease if any
  • Details of risky lifestyle habits such as drinking or smoking
  • Financial status disclosure
  • Absolute honesty in furnishing all the necessary details so as to avoid cancellation of policy

You may be hesitant to make a clear decision when it comes to buying life insurance in Abu Dhabi mainly because you are not familiar with its intricacies and you would need a lot of time in educating yourself first before actually choosing the best insurer.

The role of MoneyGulf in assisting you in this important task is exemplary in that you will not need to do anything other than to weigh the pros and cons as placed before you by your MoneyGulf representative and make an informed decision.

Make the most of the benefits offered by Abu Dhabi insurance by seeking the able guidance of MoneyGulf!