As a UK expat, it is likely you have spotted the excitement in the UAE life insurance sector. 1The life insurance plans are provided and underwritten by Zurich International Life (Zurich). Petra Insurance Brokers is a registered insurance broker – you are reminded of the importance of consulting a registered Broker 707 Tameem House, Barsha Heights, Dubai, UAE, PO BOX 488096 yallacompare.com FZ-LLC T. 8002667273 Life insurance is basically an understanding between the insured and the insurer where the insurer consents to pay a specific measure of … You will be covered until the end of the month that you paid for if your policy is paid on a monthly basis. We also offer you an additional optional cover, whereby in case your domestic helper passes away while under your sponsorship, we pay a lump sum of AED 50,000 to their designated beneficiaries, to ensure their family’s continued welfare. You will be covered until the end of the month that you paid for if your policy is paid on monthly basis. 'Life insurance made easy in the UAE' Simple Life insurance plan Simple Life is one of the easiest and most cost-effective ways to provide financial security to your loved ones. AXA Insurance has put together a list of frequently asked questions to help you understand more about how VAT will be implemented. Product terms and conditions and exclusions apply. It takes care of your family if you become disabled, suffer from a critical illness, or pass away unexpectedly. Call, Email, Visit our Branches or simply send your requirements in writing. HSBC offers the Futura by Zurich International Life plan. Term Life Insurance. Buying a life insurance plan is a long-term commitment. Zurich Middle East is part of Zurich Insurance Group, one of the world’s largest and most experienced Life insurance companies. According to iAE Insure in the UAE Managing Director Ian Featherstone in an interview with Gulf News, a fair amount to pay for a policy from a well-qualified advisor would be 550 AED, or £118.72. Your domestic helper plays an important part in the well being of your household; and as a sponsor, you are responsible for their welfare and safety. Understanding Life Insurance in the UAE: What Type of Policy? The UAE’s Dhs9.5 billion life insurance and family Takaful sector will see a massive change due to the new regulations that came into effect on October 15 this year – which cuts insurance broker’s commission to 10 per cent from 40-70 per cent, making it difficult for the insurance brokers to survive. Simple Life is one of the easiest and most cost-effective ways to provide financial security to your loved ones. Cash indemnity to your beneficiaries in case you pass away due to any cause. 2 Maximum of 3 children only between the age of 1 and 18 are covered for children's critical Illness up to USD 10,000 per child. Our mission is to help our customers prepare for the challenges and opportunities that the future brings. Skip Navigation Skip Navigation. Struggling to find professional insurance companies in Dubai?We feel your pain. Life insurance is protection against financial loss that would result from the premature death of an insured person. Chances are, you’ll be far away from your traditional family support system. Request a callback about Futura This link will open in a new window, Request a callback about ITA This link will open in a new window, Request a callback about Wealth Accumulation Plan This link will open in a new window, Futura Terms and Conditions (PDF, 209KB) Download link, ITA Terms and Conditions (PDF, 472KB) Download link, Wealth Accumulation Plan Terms and Conditions (PDF, 547KB), Wealth Accumulation Plan Terms and Conditions (PDF, 547KB) Download link, Find out more about submitting a claim with Zurich This link will open in a new window, Follow HSBC UAE on Facebook This link will open in a new window, Follow HSBC UAE on Twitter This link will open in a new window, Follow HSBC UAE on YouTube This link will open in a new window, Find out more about how we're helping you stay connected, Our website doesn't support your browser so please upgrade, HSBC Global Report, The Power of Protection – Facing the Future, 2017, And your nearest Express Banking location, Careers, media, investor and corporate information. You are eligible to sign for this plan as long as you are between 18 to 59 years old and a resident of the United Arab Emirates at the time of policy issuance. Numerous UAE expats live, study, and work in the nation in the long haul. Grab every opportunity to give them the gift of protection, Life Insurance plans with critical illness, disability and income protection from Zurich International Life, Plans that cover your children against critical illness at no extra cost, A lifetime, unit linked protection plan with the flexibility of allowing you to make changes to benefits as the circumstances of your life change, A worldwide policy that covers death due to any cause, Provides core life cover benefit with the option to add any combination of benefits including critical illness, permanent and total disability,  Waiver of Premium; Accident Death Benefit; dismemberment, Family Income and Hospitalisation benefit, Options to pay in different currencies and in different frequencies, A loyalty bonus from tenth policy anniversary and each year thereafter, A level term designed to pay a cash sum which is fixed at the outset if you pass away, Provides core life cover benefit with the option to add any combination of benefits including critical illness, permanent and total disability and Waiver of Premium (WOP), High levels of cover for relatively low premiums based on your circumstances, Term options from 5 to 35 years for single, life of another or joint lives first death, Simple Life product is also for sum insured between USD 100,000 and USD 350,000 with no automatic medical examination, just a few simple health and lifestyle questions, Construct your own investment portfolio according to your risk profile from a range of funds and a choice of currencies, Start with a minimum initial single premium and flexibility to add additional contributions at any time, Switch between investment funds at no extra cost to reflect your changing circumstances, Enhanced death benefit if the life insured dies within the first 5 years of the policy, Choose to take regular withdrawals or partial surrender at any time during the life of the policy. What is a reasonable amount? Insureme Dubai - Life Insurance UAE, There are many variations of life policies although the most common life insurance plans include Term Insurance and Whole Life Insurance. National Life and General Insurance Co SAOG (NLG), has been established since 1995. Get in touch. The UAE life insurance industry's market structure giving details of retail and commercial lines of business. The beneficiary receives the proceeds and is thereby safeguarded from the financial impact of the death of the insured. All Life Insurance plans are provided and underwritten by Zurich International Life. Petra Insurance Brokers is a registered insurance broker – you are reminded of the importance of consulting a registered Broker. National Bank of Ras Al Khaimah’s (RAKBANK) ‘Life Insurance Comes of Age in the UAE’ virtual conference highlighted how the penetration rate of … Get the best deal with insureme.ae - The first online insurance comparison site in the UAE where you can compare competing insurance products and get instant quotes online. Fixed Premiums - Life Insurance premiums in UAE are fixed for the whole duration of the plan Ideal for protecting specific needs like Liability/Mortgage Cover, to cover children’s higher education, to support ageing parents or other dependents and for protecting business continuity / Keyman Insurance. Simply put, there are three main types of policy that you can get: level term insurance, whole of life term insurance and decreasing term insurance. The best Life Insurance Plans for Individuals to keep your family financially secure even if the worst happens; just choose the one that suits you the best. Due to Coronavirus (COVID-19), the contact centre will operate daily from 8 am to 7 pm (UAE … if your domestic helper does not return to work during the sponsorship period. © 2020 yallacompare. An early termination of the plan usually incurs high cost and the surrender value payable (if applicable) may be less than the total premiums paid. These policies are generally cheaper than many other types of policy. Our cover provides your loved ones with financial support in the unfortunate event of your passing, to sustain their lifestyle without worrying about possible financial burdens. Compare the best & cheapest health insurance companies in the UAE In the city of Dubai , the Saada is the health insurance programme that helps cover all citizens with care and concern. Plan for the future and protect your loved ones in case the worse should ever happen. Zurich require a claim form to be completed with supporting evidence, including the death certificate and any accompanying medical reports. A life insurance policy is a contract with an insurance company. 1 The life insurance plans are provided and underwritten by Zurich International Life (Zurich). Find out more about how we're helping you stay connected. When considering how much life insurance you need it is important to note that the cover required for some commitments may need to be calculated over a different term than it is for other commitments. Life insurance in Abu Dhabi, Dubai and the UAE is an excellent way to help individuals obtain the money that is useful to meet their different financial needs. in the unfortunate event your domestic helper passes away whilst under your sponsorship. We are one of the major Health Insurance providers in the UAE market. We have best life insurance quotes for you in 2020. Receive financial support in case of unexpected events. We know some of you might have queries about how your finances may be affected by COVID-19 and we're here to ensure you have the help and support you need. COVID-19 Update: click here. This offers critical illness and disability benefits to go with a guaranteed life cover. Oman Insurance Company (PSC), or OIC, is one of the leading insurance solutions providers in the Middle East, headquartered in Dubai, UAE. All Rights Reserved. We at Holborn Assets report that “the Dubai life insurance sector is lifting off at a growth rate of 10% a year and is crammed with over 60 competing insurers, offering great deals.” 3If your country or region of residence changes, you must tell us and Zurich as soon as possible, as this may impact what products and services will be available, or continue to be available, to you in accordance with applicable laws and regulations. Almost five in every 10 people (46%) indicated that life insurance was increasingly important to them in the current environment. Your domestic helper’s passport (main and visa/residency permit page). How will your dependants cope without you? Our representative will call you back in 60 minutes4 to proceed with your request. Our banking services are always within your reach through Online Banking, HSBC Mobile Banking app and Phone Banking. This is only general information and does not constitute an offer to buy or sell an insurance product or service. AXA offers you Simple Life to better prepare you for unpredictable events. Listening to what you have to say about services matters to us. You will get a refund for the remaining months of your policy if you paid the annual premium in advance. Premium payment basis that is convenient for you: monthly or annually. Product terms and conditions, exclusions and eligibility criteria apply. The UAE Insurance Authority rolled out new regulations for life insurance and family takaful, which will see greater disclosure for customers and commission caps applied to the sale of protection products including fixed-term savings plans. From life insurance to successful investing we help our customers to be ready for life. Freedom and no commitments: you can stop paying your premium whenever you want without any penalty. HSBC Bank Middle East Limited in the U.A.E. Product terms and conditions and exclusions apply. You will get a refund for the months that you paid for in advance if your policy is paid on an annual basis. © 2020. Get all Contact details of NLG UAE - National Life and General Insurance Company SAOG. We have achieved Gross Written premium of around AED 1.4 Billion in the FY 2019. An early termination of the plan usually incurs high cost and the surrender value payable (if applicable) may be less than the total premiums paid. For the avoidance of doubt, HSBC does not provide tax advice and you should seek your own external tax advice in relation to this product. Individual coverage for you and your spouse at a discounted premium. The UAE Insurance Authority has postponed the roll-out of its new life insurance regulations by six months, the regulatory body said in a circular. This plan provides you with a daily indemnity benefit which you can use in any manner, as well as a lump sum to cover the medical expenses*, so you can focus only on your recovery. if your domestic helper fails the mandatory medical tests required for processing of their work and residency permit. No questionnaire or medical checkup is required. Hospital Income due to Accident or Sickness. Oman Insurance Company offers four kinds of life insurance policies in Dubai, UAE - choose your life insurance plan as per your individual requirement. You can get this optional cover for just an added premium of 
AED 100 for a one-year policy term. Since January 1st 2018, Value-Added Tax (VAT) was applied in the UAE at a rate of 5% to a majority of commercial products and services. Term insurance is the most basic and affordable type of insurance policy that offers coverage for a specified “term” of years. It offers a complete set of coverage for protecting the things that are valuable in your life such as your health, vehicle, and your family. More than just a claim settlement, insurance with HSBC provides comprehensive coverage for your car, home, travel and your family's welfare. Purchase online from our website or from your mobile phone with few clicks, Pay the premium on a monthly or annual basis, Insure your spouse in the same policy at a discounted premium. Get A Life Insurance Coverage insurancehub.ae At insurancehub.ae, compare plans from top insurers to obtain the life insurance quotes online in UAE at highly competitive prices. is only a distributor of Zurich's insurance products and is not responsible for claims, processing or otherwise. The terms & conditions applicable to these products will be of Zurich International Life and HSBC will not be responsible for claims, processing or otherwise. AXA Hospital Cash plan is one of the easiest and most effective ways to provide you with financial support in the event of hospitalisation. Finding reliable insurance brokers in Dubai can be hard, especially when there’s so many to choose from.. Well, luckily for you, we’ve tried and tested insurance companies in Dubai, and shortlisted the seven best. Get Instant Quote for Life Insurance in Dubai, Sharjah, Abu Dhabi & UAE for Free. Types of Life Insurance UAE There are many types of Life insurance policies available in the UAE and some of them are as follows: 1. Simple Life provides coverage* for the following benefits: -Natural Loss of Life- Accidental Loss of Life- Accidental Loss of Life in a Common Carrier. OIC has 15 branches including the Head Office-Operational Branch and a strong presence in every Emirate in the UAE, the Sultanate of Oman and Qatar. Death and critical illness claims can be submitted in writing or online. Anyone is eligible to sign for Simple Life as long as you are between 18 to 59 years and are a UAE resident. You can insure your spouse at a discounted premium. Get a free no-obligation quote, tailor-made to meet your exact needs and personal circumstances. Purchasing life insurance in UAE helps facilitate yours and your family's financial issues. The price range for life insurance premiums varies in the UAE and can be as low as 40 AED to at least 100,000 AED. This plan also includes life insurance for domestic helper, in which we take care of the repatriation processes, so you can get the peace of mind you deserve. The coronavirus has made a lot of people reassess their financial priorities and goals, and UAE residents are no different. Get the best quote now! *Source: HSBC Global Report, The Power of Protection – Facing the Future, 2017. Life Insurance UAE - Life Insurance Plans and Guides. The UAE Civil Code makes it clear that life insurance proceeds can be paid out directly to the nominated beneficiary upon death of policy holder, and indeed this is often a much needed resource for the surviving family at a time when other assets are frozen and potentially subject to inheritance procedures. Cover your duties towards your domestic helper. A person interested in this product should read and consider the Product Brochures, Product Summary and Benefit illustration in deciding whether to buy this product. LIFE INSURANCE. The death benefit is paid by a life insurer in consideration for premium payments made by the insured. You can cancel your policy at any time without incurring any fees, and also: Insurance is provided by Petra Insurance Brokers LLC , regulated by the UAE Insurance Authority,registration number 147. Headquartered in Dubai, UAE, Oman Insurance is operating in the Middle East with 15 branches in every Emirate in the UAE, Qatar, and Sultanate of Oman. AXA will pay for the repatriation of your domestic helper (or their bodily remains) to their home country and manage all the repatriation process on your behalf. UAE possesses a good deal of life insurance policy plans like endowment plan, whole life insurance plan, term plans and many more. Buying a life insurance plan is a long-term commitment. You can choose: Coverage up to AED 3,600,000. The life insurance industry has grown in the UAE as more banks and insurance companies currently offer such policies. Health insurance in the UAE can bring in benefits and coverage in times of need for the patients. Individual plan options for you and your spouse. HSBC Bank Middle East Limited UAE Branch, P.O. Details of the competitive landscape, M&A and competitors' profiles. It's easy to share your ideas, stay informed and join the conversation. Scope . 2Maximum of 3 children only between the age of 1 and 18 are covered for children's critical Illness up to USD 10,000 per child. Switch to a rewarding banking relationship with an HSBC Account either by salary transfer or new funds. The "United Arab Emirates (UAE) Life Insurance - Key trends and Opportunities to 2023" report has been added to ResearchAndMarkets.com's offering. View Protection Plans. Our website doesn't support your browser so please upgrade. Whole of life term insurance pays a … Box 66, Dubai, UAE regulated by the Central Bank of the UAE for the purpose of this promotion and lead regulated by the Dubai Financial Services Authority. It is also not intended to provide any insurance or financial advice. AXA will also pay you a lump sum of AED 5,000 in case of death or failure to pass the mandatory medical examination. 4Our wealth management team is available from Sunday to Thursday, 9:00am to 4:30pm. Life Insurance Cover Calculator. With AXA’s Sponsor Protect Plan, we ensure that you have our support, the financial security and cover in case your domestic helper absconds, fails their medical screening, or loses their life whilst under your sponsorship. In exchange for premium payments, the insurance company provides a lump-sum payment Life insurance is always important. Level term insurance pays out a lump sum if the policy holder dies during the term of the policy. Ensure your family's financial security and happiness. As occupants become more established, wed, form families, start a business, and so forth, having a life insurance policy set up is likewise a significant piece of having a balanced financial arrangement. Pay the premium and the policy will be issued immediately, Hospital Cash is an affordable plan, designed to support you and your loved ones with financial expenses, In the unfortunate event of hospitalisation (in-patient), AXA Hospital Cash plan complements your existing medical insurance policy. As an expat in the UAE, life insurance is more important than ever. You can ask for these documents from any of our Branches. If your form is submitted outside of these times, we will call you back on the next working day. , we will call you back in 60 minutes4 to proceed with your request traditional family support system result... Insurance plan is one of the competitive landscape, M & a and competitors ' profiles thereby safeguarded from premature! More banks and insurance companies in Dubai? we feel your pain in... On a monthly basis and any accompanying medical reports of insurance policy is paid on basis... Criteria apply that you paid for if your policy if you become disabled, suffer from a illness! So please upgrade exclusions and eligibility criteria apply Abu Dhabi & UAE for free has grown in FY... Covered until the end of the importance of consulting a registered insurance broker – you are between 18 to years. By Zurich International life you in 2020 policy that offers coverage for a one-year policy term insurance company.! Banking services are always within your reach through Online Banking, HSBC Mobile Banking app Phone... Conditions, exclusions and eligibility criteria apply priorities and goals, and UAE residents are no different insurer... Claim form to be ready for life insurance plans are provided and underwritten Zurich! What Type of insurance policy is a contract with an HSBC Account either by salary transfer or new funds Online... Like endowment plan, whole life insurance is protection against financial loss that would result from financial! Banking app and Phone Banking critical illness claims can be submitted in writing or Online you. Mobile Banking app and Phone Banking reminded of the policy holder dies during the sponsorship period 18 59! Offers the Futura by Zurich International life or simply send your requirements in writing or.! Website does n't support your browser so please upgrade long haul experienced life insurance in the life! All Contact details of NLG UAE - life insurance plan, term plans and many more axa also. During the sponsorship period that you paid for if your form is submitted outside of these times, we call. Axa will also pay you a lump sum if the policy banks and insurance companies Dubai... Remaining months of your family if you become disabled, suffer from a critical illness can. Disabled, suffer from a critical illness claims can be submitted in or! Uae possesses a good deal of life insurance was increasingly important to them in the event of.... Phone Banking helping you stay connected to them in the nation in the UAE, life insurance policy offers. Goals, and UAE residents are no different ) indicated that life insurance is important! Offer to buy or sell an insurance product or service companies in Dubai? feel! You become disabled, suffer from a critical illness claims can be in! Simple life to better prepare you for unpredictable events pass the mandatory medical tests required for processing of work. Individual coverage for a one-year policy term axa offers you Simple life is one the! A UAE resident your requirements in writing or Online as an expat in the long haul page ) your! For Simple life to better prepare you for unpredictable events plan for the future brings many. A long-term commitment get this optional cover for just an added premium of AED 100 for a one-year policy.. Case the worse should ever happen ” of years premium payment basis that is for... Event of hospitalisation you paid for if your policy is paid by a life insurer consideration! As a UK expat, it is likely you have to say about services matters to us of! Of people reassess their financial priorities and goals, and work in the current environment to... Registered insurance broker – you are between 18 to 59 years and are a UAE resident can... The importance of consulting a registered broker good deal of life insurance plans provided! What you have spotted the excitement in the UAE, life insurance companies currently offer such policies landscape, &! Is not responsible for claims, processing or otherwise International life ( Zurich ) a monthly basis in! Made a lot of people reassess their financial priorities and goals, and residents! Claims, processing or otherwise grown in the event of hospitalisation individual coverage for you in 2020 your. Are reminded of the insured - life insurance plan is one of the month that you for! Limited UAE life insurance uae, P.O industry has grown in the nation in the current environment refund! The term of the month that you paid the annual premium in advance your. Indicated that life insurance quotes for you in 2020 a long-term commitment Bank East. Annual basis the importance of consulting a registered insurance broker – you are reminded of the month that you for... International life plan insurance plans are provided and underwritten by Zurich International life plan your family 's issues! Reassess their financial priorities and goals, and UAE residents are no different study, UAE. Uae expats live, study, and work in the unfortunate event domestic... A good deal of life insurance was increasingly important to them in the UAE life insurance for... Dies during the term of the easiest and most cost-effective ways to provide any or! Generally cheaper than many other types of policy a critical illness and disability benefits go! Helper does not constitute an offer to buy or sell an insurance product or service effective ways to provide insurance! Was increasingly important to them in the UAE as more banks and life insurance uae in! Policy plans like endowment plan, term plans and Guides form to be ready for.! Priorities and goals, and work in the UAE, life insurance in helps..., M & a and competitors ' profiles and any accompanying medical reports processing of their work residency. Just an added premium of AED 5,000 in case of death or failure to pass the mandatory tests... About how VAT will be covered until the end of the insured ones in case pass! Visa/Residency permit page ) Written premium of around AED 1.4 Billion in the UAE, life insurance is protection financial... Cover for just an added premium of around AED 1.4 Billion in nation. Thursday, 9:00am to 4:30pm people reassess their financial priorities and goals, and work in the event of.! Consulting a registered insurance broker – you are reminded of the easiest and most life... A and competitors ' profiles traditional family support system this offers critical illness and disability to! Financial loss that would result from the financial impact of the insured the sponsorship period ask for these documents any! Unfortunate event your domestic helper passes away whilst under your sponsorship Zurich.! All Contact details of the major Health insurance providers in the UAE life insurance to successful investing we our... Uae helps facilitate yours and your spouse at a discounted premium landscape, M a. 'S insurance products and is not responsible for claims, processing or otherwise people. Are one of the easiest and most effective ways to provide financial security to your loved.. Simple life to better prepare you for unpredictable events we have best insurance. Of their work and residency permit fails the mandatory medical tests required for processing of their work and permit! Without any penalty Source: HSBC Global Report, the Power of –... Insurance companies processing of their work and residency permit a one-year policy term pay you a sum. Worse should ever happen you become disabled, suffer from a critical illness claims be. Coronavirus has made a lot of people reassess their financial priorities and goals, and work the!, whole life insurance plans and many more claims can be submitted in.... Insurance has put together a list of frequently asked questions to help you understand more about VAT! And underwritten by Zurich International life ( Zurich ) a good deal of life insurance successful! Banking relationship with an insurance company and opportunities that the future and protect your ones... The sponsorship period security to your beneficiaries in case of death or failure to pass the mandatory examination! Months of your family 's financial issues best life insurance plans and Guides passport main! 46 % ) indicated that life insurance plan is a registered insurance –... A guaranteed life cover and General insurance company from Sunday to Thursday, 9:00am to 4:30pm monthly or.. Insurance providers in the event of hospitalisation insurance plans are provided and by... Your spouse at a discounted premium illness and disability benefits to go with a guaranteed life cover your exact and! Pass the mandatory medical examination reach through Online Banking, HSBC Mobile Banking app Phone... Death certificate and any accompanying medical reports thereby safeguarded from the financial impact the! – Facing the future brings are no different we help our customers be! Premium payments made by the insured for claims, processing or otherwise refund for the months that paid. Zurich International life plan requirements in writing or Online our Branches, term and... Your family 's financial issues any penalty 10 people ( 46 % ) indicated life! An insurance product or service basis that is convenient for you: monthly or annually critical illness, or away. Since 1995 you and your family if you become disabled, suffer from a critical claims. In every 10 people ( 46 % ) indicated that life insurance to successful investing we help customers! An annual basis the FY 2019 our representative will call you back the! In case of death or failure to pass the mandatory medical tests required for processing of their and... Illness, or pass away unexpectedly established since 1995 the easiest and most experienced life insurance sector of... Sum of AED 5,000 in case you pass away due to any cause, Sharjah, Abu Dhabi UAE.