9 Reasons Why You Shouldn’t Ignore Buying Life Insurance in UAE

Life is full of uncertainties, and a life insurance policy helps you secure yourself and your loved ones from this unpredictability. It acts as a strategic tool to protect your family’s future and create a legacy. There are some compelling reasons to secure life insurance in UAE for your peace of mind and financial security. Some of them are discussed at length below. 

🛡️ Financial Safety Net for the Family

One of the advantages of buying a life insurance policy is that it acts as a financial cushion for your loved ones. In case of your untimely demise during the policy tenure, your family will receive the sum assured from the insurance company. This amount can be used for –

• Covering living expenses
• Replacing the income stream
• Supporting children’s education
• Meeting future financial requirements

📄 Flexibility to Personalise

You can easily customize your life insurance policy as per your requirements. You can add riders to your policy or increase coverage as and when required. Some riders that can help you big time include –

• Critical illness cover
• Terminal illness cover
• Permanent and total disability rider
• Accidental death benefit
• Second medical opinion

Customising life plans on your own can be challenging. With Policybazaar UAE, however, you don’t need to worry about the same. On just one platform, you can find the top riders as well as their key aspects. You can take your time, understand each option, and select the relevant ones to tailor your plan! 

🈺 Protects Your Business

Life insurance policy in UAE protects your business too. If you, as a business owner, buy this policy, it can be a strategic tool to ensure that your business continues even after your demise. This policy can be used to –

• Repay business debts
• Provide funds to continue business even in your absence
• Helps with succession planning

Note – This policy also serves as a keyman insurance policy to keep your company financially stable. 

💰 Helps in Fulfilling Long-term Goals

You can use life insurance to achieve your long-term objectives. The sum assured from the plan serves as funds to finance your children’s future education or help them get married when the time comes. 

💲 Wealth Generation

Life insurance plans like ULIPs enable you to generate wealth to meet your future goals. Your money gets invested in market-linked commodities and you control your investment portfolio. You earn the returns and the investment amount as maturity benefit if you survive the policy tenure. 

🛡️ Estate Planning Component

Another interesting reason to buy life insurance UAE is to plan your estate. The sum assured is directly transferred to the legal heirs and beneficiaries in case of your demise. By assigning your heirs as beneficiaries, you ensure that there is no delay in receiving the financial benefits. 

💵 Affordable Plans with Maximum Coverage

Usually, traditional life insurance plans like term insurance are not expensive. They are flexible, affordable and offer maximum coverage as per your requirements. When you select this plan, you have the flexibility to –

• Choose from whole life insurance and term insurance
• Pay premium monthly, half-yearly, quarterly, or annually
• Balance your coverage with income and expenses

😌 Assured Peace of Mind

Having a life insurance plan ensures that you have your family’s future secured. This assurance itself brings in peace of mind. A life insurance policy –

• Reduces financial stress
• Helps managing risk during difficult times
• Ensures financial security wherever you live

💰 Covers Debts and Other Financial Liabilities

Another key reason to buy this policy is that it covers your outstanding debts if something happens to you. This saves your family from carrying a financial burden while they grieve your loss. Plans like term life insurance are particularly effective in this regard, as they offer a higher sum assured. 

So, when you have a life insurance plan, you can –

• Pay off your personal or home loans
• Cover outstanding credit card balance

In Crux

There are a plethora of benefits of investing in a life insurance policy. These benefits go beyond mere financial safety. It supports your family to repay debts, create legacy, achieve long-term goals, and more. It secures your business interests, and contributes to wealth generation. You can explore these plans for their affordability and flexibility. Life insurance is a wise investment option in UAE towards stability and a secured future.

Explore the best life insurance plans tailored to your needs at Policybazaar UAE, where you can find comprehensive coverage and peace of mind in just a few clicks.