About Term Life Insurance
Term life insurance in the UAE is the most effective low cost plan that provides comprehensive financial security to your family in case of your untimely death. In your absence, your loved ones suffer, not only from grief, but also financial strain caused by the loss of your income. Term plan helps take care of your family’s living expenses, as well as future financial goals; in case you are not around to provide for them. The unpredictable nature of life makes life insurance cover a must-have.
GET A FREE QUOTE
Who are eligible to buy our Term Life Insurance Plan?
| Customer Category | Minimum Age at Entry | Maximum Age at Entry |
|---|---|---|
| Individual Customers | 20 | 60 |
Table of Benefits:
The summary of benefits and limits are shown below:-
| Specification | Criteria | Benefit |
|---|---|---|
| Death Benefit(DAC) | Pays Sum Assured(SA) chosen |
SA chosen |
| Terminal Illness (inbuilt) | Pays SA equal to DAC SA on accelerated basis |
Equal to DAC |
|
Critical illness (Optional) Accelerated |
If chosen, Pays SA equal to cover opted for CI on accelerated basis |
10% to 50% of DAC sum assured |
| Accidental Total permanent Total Disability (Optional)-Waiver of premium |
If chosen, Premium will be waived of for remaining minimum payment terms and policy will continue. |
|
Financial Coverage:
| Sum Assured | Minimum | Maximum |
|---|---|---|
| Death Benefit(DAC) | AED 350,000 | AED 1,800,000 |
| Terminal Illness(TI) Sum assured | AED 350,000 | 100% of DAC SA |
| Critical Illness(CI) Sum assured (if opted) | 10% of DAC SA | 50% of DAC SA |
|
Accidental Total permanent |
– | Equal to outstanding premium from the date of incident |
Key Features of the plan:
- Flexible policy terms to choose: Minimum 5 years to Maximum 35 years.
- Mode of Payment: M, Q, HY, A.
- Free Look period: 30 days from the date of commencement.
- Grace Period: 30 days from due date
- Revival Period: Allowed up to 9 months from the date of lapsation
When is the Right Time to Buy Term Life Insurance?
A term life insurance policy is a lot more affordable when you buy them young. The reason is pretty simple, healthy overall tend to enjoy lower premiums than their older counterparts. Anyone between the ages of 20 to 60 can opt for term insurance. However, your 20s is a good time to get into the insurance market and plan for your family’s future.
How to Buy?
| CALL or WHATSAPP | CONTACT YOUR NEAREST BRANCH | |
|---|---|---|
| Dubai (Call/WhatsApp): +971-43961331 | Dubai:Â servicesdubai@nlicgulf.com | Locate Us |
Why National Life & General Insurance Co. SAOG (NLG)
- Customised policy term
- Flexible premium paying terms
- Worldwide coverage
- Easy and worry-free claims settlement
- 24 x 7 Call Centre to assist you
How to Submit your Claim
Our dedicated life insurance claims department is always available to help whenever you require assistance, we also offer an easy claims submission process for a smooth and time-saving experience.
Related Articles
Term insurance offers comprehensive financial security to your loved ones in your absence with added perks and benefits. The premiums are affordable and the terms and conditions are easy to…
A term life plan is the purest form of life insurance. It offers death benefits to the nominees if the insured passes away within the stipulated duration. So, in case…
