Riyadh Life Insurance
Getting your life insured has become a very important requirement these days. Whether it is life insurance, health insurance, vehicle or home insurance, insurance is an indispensable requirement in order for you to lead a smooth life free from worries about your future.
Insurance companies offer insurance as a protection for your life in return for a regular payment of your annual premium. In case of the passing away of the insured person, the company pays the family of the deceased the sum promised as per the original insurance policy.
Such a guarantee helps the family of the deceased meet a lot of expenses like children’s education, run the family business etc. So if you are wise enough to think that you need to be prepared to face an unpredictable future, you need to plan well ahead so that your family is taken care of in case of an unwarranted situation.
But it should also be understood that the insured sum will be made available to the family of the insured only if the premiums are paid regularly until the end of the insurance period specified in the policy.
Life insurance is of three types:
Whole life insurance plan which involves investment of a part of your contribution in financial schemes that you choose so that the amount increases with time. This plan is valid for the entire life of the insured person. In the event of the death of the insured, the family gets an assured sum and other insurance benefits as returns. The premium for this type of insurance is normally high, but does not change with the age of the policy holder.
Endowment plan is a beneficial plan in which the endowment benefits are paid to the insured person’s family even before the maturity of the policy. The entire insurance amount may be paid after the policy term is completed. Surrendering the policy before completion of the term is permitted and the necessary deductions are done before returning the premium amount paid by the policy holder.
Investment-linked insurance plan is one in which the insured authorizes the bank to pay the premium to the insurance company that in turn invests the said amount in various investment funds so that the value of the investment is increased.
Life insurance in Riyadh is governed by Islamic principles and is Shari’a compliant.
When you first plan to opt for life insurance in Riyadh, your primary task would be to ask for quotes from the different insurance companies and decide on the best available option. It does not cost you anything to get such quotes but the task is indeed laborious with collection of information from a few different insurance agents and trying to decide on your own about the best product.
With the development of the internet, it may not be very difficult to collect this information but it would require an expert’s advice to make a final decision. Even if you chose the right product, applying for one would take time and energy and you will have to wait until you hear from the company about the status of your application.
This is where MoneyGulf comes into the picture. You could apply for a life insurance policy for a specific assured sum spread over a period of your choice depending on your affordability and preferences from the comfort of your own home with the help of MoneyGulf. Our representative will give you detailed advice about the right product that would be most suitable for you and assist you in the application process and follow-up.
Contact MoneyGulf and seek the assistance of the representative who will be at your door to give you the right advice regarding Riyadh life insurance.