Life Insurance in Sharjah

Sharjah Life Insurance

Life insurance is the monetary guarantee or cover extended to one’s life by insurance companies. So, while there is no guarantee to your life, there is every possibility of monetizing it by insuring yourself. This policy covers different areas such as compensation to one’s family after the insurer’s death or personal compensation after injury as well. It also includes investment plans that do come in handy for future personal or family development.

Key benefits of buying life insurance in Sharjah

The benefits include:

  • Personal compensation or compensation to family in case of death or terminal injury
  • Total protection for you and your loved ones at the expense of a reasonable amount as premium
  • All your loans and mortgages are covered in the event of a mishap
  • In case of terminal illness, the cost of treatment is taken care of by the insurance company

Types of life insurance plans

Term Insurance plan: This plan covers loss of life and pays the proceeds of the insurance to the family of the insured if they die during the term of the policy. 
Whole life insurance plan: Whole life insurance plan is valid till the end of the policy holder’s life with their family getting the sum assured and the promised benefits after the demise of the holder.

Endowment plan: This package comes with the provision for one’s beneficiaries to be paid the benefits if the policy holder dies before the policy matures. It also provides for the holder to surrender the policy and get back their premium during the policy term.
Investment insurance plan: It carries the dual advantage of investment and insurance wrapped up in one package. The insurer takes the money you insured with them and pools it into a common fund and makes prudent investments. At the expiry of the term, you get back your premium with an agreed interest.

Eligibility to buy life insurance in Sharjah

Although there are a few disparities in requirements among providers of life insurance in Sharjah, most of them are a standard formality:

  • Accurate details of the policy holder’s health conditions such as any terminal disease or HIV/AIDS
  • Accurate details of any risky lifestyle habits such as drinking or smoking
  • Disclosure of one’s financial status
  • Honesty in furnishing all the necessary details in order to be safe from cancellation of your policy

Now, it may seem a mammoth task to look around for information regarding the different kinds of life insurance in Sharjah and evaluate their benefits so as to ensure total protection for your family in case of an untoward change of circumstances in your life by way of death or accident.

MoneyGulf plays an important role in providing the necessary assistance for you to choose and buy the best life insurance in Sharjah. You will be able to save a lot of time and work by letting MoneyGulf do all the work for you except for the final decision.