Life Insurance in Doha
Life insurance is a policy extended to one’s life by an insurance company. A Life policy covers wide areas that extend to compensation to the policy holder’s family after their passing on or personal compensation following permanent or terminal injury.
Key benefits of buying life insurance in Doha
Personal compensation or their families in the event of passing away or permanently getting injured;
Financial indemnity for policy holders and their precious families;
All of the holder’s loans and mortgages are covered; and
Should the holder get terminally ill, the cost of treatment is catered for.
Types of life insurance plans
Term Insurance plan
This plan covers death and pays the proceeds of the insurance to the policy holder’s family in case they pass away in the middle of the policy’s term.
Whole life insurance plan
Whole life insurance plan has a validity period tied to the holder’s life term. Their family gets the insured premium and benefits after the passing of the policy holder.
This plan includes the provision for one’s beneficiaries to be paid the benefits if it happens that the policy holder dies before the policy comes to a closure.
The policy holder may also surrender the policy and get refunds for their premium.
Investment insurance plan
It combines investment and insurance. The insurance companies pool the premiums into a common fund and then make prudent investments with it. When the term come to a closure, the policy holder gets back their premium with interest.
Eligibility to buy life insurance in Doha
Although there are a few differences in mandatory requirements among most of the providers of life insurance in Doha, a great many of the requirements issued by insurance companies in Doha pass for a standard procedure:
Truthfulness in information regarding one’s health conditions such as terminal diseases;
Truthful information regarding any risk-carrying habit such as alcoholism or substance abuse;
Truthful disclosure of one’s financial position; and
Truth in all the necessary information provided so as to prevent policy termination.