Authorized Broker|Online Convenience

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How to Protect your Family Financially With a Term Life Insurance

Category: Life Insurance Published on: 24 May 2023

Term Life Insurance in UAE

Life Insurance is for every individual who cares for his family and wants to give financial security to his family. The primary advantages are: The family can stop paying premiums immediately and get the insured sum as per the chosen plan. Especially some plans (term plans) give a complete payout in a single go, while investment-type plans are received as monthly/yearly payments for fixed years.

Buying life insurance is not rocket science. It is plain commonsense. Based on your perception of your family’s needs, you can choose the right plan easily.

Compare Life Insurance in UAE

Broadly life insurance plans are of two types – term life insurance plans and investment-linked plans. Both give advantages in different ways.

Term Life Insurance in UAE is the simplest plan. In this plan, you pay the buyer of insurance pays a fixed amount monthly or annually. This amount is known as a premium. The premium you pay determines the payout if the insured dies prematurely. There is an upper age limit up to which this type of insurance can be bought. The age limit might vary from one insurance company to another. Lastly Term Life insurance policies for individuals and families give good cover.

Life Insurance Policy Linked to an Investment Plan

In Term Life Insurance, there is no payout or financial incentive unless death occurs. Linked life insurance policy on the other hand gives the insured a maturity bonus in addition to a payout if the insured outlives a predetermined period (usually years).

The advantage for the family is they don’t have to pay premium money if the insured dies. The family gets the payout money. There are so many variants in investment-linked life insurance, and to optimize your returns, you must talk to a life insurance broker in Dubai or other places in UAE.

To Compare Life Insurance in UAE and invest in a high-return optimum-payout plan, contact Platinum Insurance Broker LLC in UAE. You can call them or visit their web portal for all your life insurance and non-life insurance needs. You will benefit from the best life insurance plans for individuals and families.