Best Life Insurance Quotes in UAE for 2024

Life insurance is a simple agreement between two parties i.e. the insurer and the insured. The insured party pays an amount on regular intervals known as the premium in return to the services offered by the provider. With the correct life insurance in place, the loved ones and family members receive a death benefit in the form of sum assured in case of any event that leads to the demise and disability of the primary breadwinner.

The policyholder can choose the beneficiary of the insurance plan based on their convenience and requirement. Very often insurance seekers are stuck in the confusion of choosing the best life insurance plan amongst the quotes offered. If you are looking forward to buying a life insurance plan in the UAE to safeguard your loved ones and family members this quick read will help you to choose the best life insurance quotes in UAE for 2024.

Best life Insurance Providers and Plans in UAE

The insurance market in the UAE is quite diverse and filled with a variety of options to choose from. There are a plethora of insurance providers that offer different types of life insurance-based plans on the needs and requirements of the customers. Some of the best life insurance providers along with the plans in UAE are as follows-

How to Buy Life Insurance in the UAE

Insurance seekers can purchase the best life insurance plans in UAE online as well as offline based on their convenience. However, purchasing life insurance online is easier, user-friendly, time-saving, and budget-friendly. There are numerous online web aggregators that provide services and offer life insurance plans online in the UAE.

Alternatively, life insurance can be purchased offline as well. Insurance seekers can visit the office of their desired provider and apply for life insurance in UAE offline. Before purchasing life insurance plans in the UAE, it is vital to assess the needs and the requirements of the family. The first step in purchasing life insurance in the UAE is to analyze the needs followed by research and shortlisting of the best plans that suit your budget and fulfill your needs.

Salama

Salama also known as the Islamic Arabic Company is one of the pioneers in the UAE takaful industry. The company was incorporated in 1979 and is considered as the oldest takaful provider in the world. Salama provides shariah-compliant takaful solutions to its customers.

The company offers both wholes of life and term plans. Hyatt superior and Hyat plus are whole of life plans from Salama that offer financial protection against uncertain events along with wealth creation based on shariah-compliant guidelines.

Hemaya and Hemayati plus are term insurance plans from Salama that offer financial cushioning at affordable prices to its customers. Term plans from Salama come with add-on riders that enhance the protection quotient of the basic life insurance plans in the UAE.

Union Insurance

Union Insurance company was incorporated in the year 1998 with its headquarter located in Dubai. The company is listed on the Abu Dhabi stocks exchange making it one of the most popular insurance providers in the region. Union insurance company offers a wide range of insurance products in the UAE ranging from endowment plans to unit-linked investment plans.

Union Life Insurance offers both individual and corporate insurance plans to fulfill the needs of its customers. UIC Flexi sure is an individual life insurance plan that is designed to adapt to the changing lifestyle of the customers. The plan provides financial security along with various other benefits. Sure term from Union insurance company is a term life insurance plan that provides financial protection and safeguards the family members in case of a variety of events.

Zurich Insurance

Zurich Insurance is a swiss insurance company that operates and functions in the UAE as well. The company is known for its high claim settlement ratio and providing innovative insurance solutions to its customers.

Your life from Zurich is a simple and affordable life insurance plan designed to protect your loved ones and family members against uncertain events on the trail of life. The plan does not require the applicants to undergo any sort of medical examination which makes it quite popular amongst customers in the UAE.

ITA or international term assurance is another Policy Zurich life insurance that provides financial security for a fixed period of time. The ITA provides protection against loans and outstanding financial obligations in the UAE.

Friends Provident Insurance

Friends provident Insurance also known as FPI is an International insurance company that has an overall experience of 40 years in the insurance sector. The company is one of the biggest players in the UAE insurance market and is quite popular amongst expatriate and Emirati customers.

The international protector is one of the insurance plans offered by friends’ provident insurance. The FPI Life insurance plan offers peace of mind along with financial cushioning to safeguard the loved ones of the insured in the UAE. Insurance seekers can opt for add-on riders to enhance the strength of these plans.

Takaful Emarat

Takaful Emarat is another leading insurance company that operates in the UAE and offers a variety of insurance products both individuals and corporate clients. Takaful Emarat was established in the year 2008 as a primary shariah-compliant insurance provider in the region.

The company is known for providing shariah-compliant insurance solutions to its customers. A fixed-term plan from Takaful Emarat is one of the best term insurances in the market. A fixed-term plan offers financial security in case of any unfortunate event. Decreasing term insurance plans are another category of insurance solution offered by Takaful Emarat.

Oman Insurance Company

Oman Insurance company abbreviated as OIC is one of the most popular insurance providers in the UAE. The company is owned by Mashreq bank which is one of the biggest financial institutions in the UAE. OIC was incorporated in the year 1975 in the city of Dubai.

The company offers a wide range of insurance products and solutions to its customers. Oman Life Insurance offers life protect which is a whole life insurance plan and offers financial protection to its customers. Apart from life protect OIC offers ULIPs and various other term insurance plans to protect the future of its customer’s loved ones.

Noor Takaful

Incorporated in the year 2009, Noor Takaful is one of the largest shariah-compliant insurance providers in the UAE. Noor Takaful is built with an objective of catering best in class insurance products and solutions that are shariah compliant.

Lifecare is one of the plans offered by Noor takaful. The Noor Takaful life insurance plan is an investment-linked plan that protects the financial future of the family in case of the untimely demise of the policyholder. Policyholders have the choice of investing a sum as a future investment.