Business Credit Cards with Life Insurance in UAE

Apart from offering quick and convenient short-term loans, the business credit cards in the UAE come with a range of lifestyle, entertainment, travel and stay benefits. With the increasing demand for credit cards amongst the customers, the banks also step up to provide numerous rewards and benefits. Along with reliable financial management aiding your cash flow, the business credit cards in the UAE also come with life insurance to protect your debts from being a liability to your enterprise and loved ones. In addition, the business credit cards with life insurance benefits secure you against critical illnesses, accidental injuries, and death, cover your emergency medical expenses, and a lot more. As a part of your credit card life insurance, several banks also provide travel insurance business credit cards to secure trips against accidents and inconvenience.

A business credit card with life insurance provides extensive protection against unforeseen events and ensures your dependents and business from not being burdened with debt. To avail of business credit card insurance, you need to pay a premium every month. Several banks automatically enrol you in the credit card life insurance program. Go through the following article to know more about business credit cards with life insurance in the UAE with their features and benefits.

Best Business Credit Cards with Life Insurance in the UAE

Securing yourself against unforeseen events gives you a sense of peace and confidence. Life insurance protects you from mishaps and events that could result in financial losses. Researching over a range of business credit cards available in the UAE, we have compiled a list of the best business credit cards with life insurance coverage in the UAE. 

1- Emirates NBD Business Rewards Signature Credit Card

Benefits & Features of Emirates NBD Business Rewards Signature Credit Card

• With Emirates NBD Business Rewards Signature credit card, you get Protect Plus Insurance that secures outstanding balances in case of 
  • loss of life
  • Job loss
  • Critical Illness
  • Emergency medical expenses
  • Permanent total disability
• The credit card also provides complimentary travel and medical insurance to secure your vacations and business trips. 
• With the reward signature credit card, you get 55 interest-free days to repay your bills without any interest. 
• When you pay the joining fee, you get 5,000 business reward points as a joining bonus. 
• Using the credit card, you can avail of complimentary access to over 650 premium airport lounges across 300 cities around the world. 
• With Emirates NBD Business Rewards Signature credit card, you get up to a 30% discount on all of your dining expenses. 
• With Emirates NBD Business Rewards Signature credit card, you get an extended warranty that doubles the manufacturer’s warranty on the product. 
• On purchasing products using your Rewards Signature business credit card, you get purchase protection to secure your products against damages, burglary and losses.
• Emirates NBD business credits cards are accepted across 22 million outlets and 1.3 million ATMs worldwide. 
• As a part of your lifestyle privilege, the credit card also offers complimentary access to five premium golf rounds in the UAE. 
• With each and every daily life expense in USD equivalents, you earn up to 2 business reward points.
• The bank offers you complete control over credit card expenses through an online credit card account. Monitor, limit or freeze your card with a few simple clicks. 
• With the signature business card, you can enjoy 24*7 roadside assistance up to 3 times a year.

2- RAKBANK Titanium Business Credit Card

Benefits & Features of RAKBANK Titanium Business Credit Card

• With the RAKBANK Titanium Business credit card, you get comprehensive credit shield insurance to secure your card debt from unforeseen events.  
• Your outstanding balances stay secured in case of accidental or natural death, critical illnesses, total permanent disability and job loss. 
• The RAKBANK business credit card offers you travel inconvenience and accident insurance that secures your trip from accidents for up to 90 days.
• The card does not include annual membership charges whatsoever. 
• With the RAKBANK Titanium business card, you get a low retail finance rate. 
• The bank offers a high credit limit on the business credit card. 
• You get up to 55 days of interest-free period. If you pay the card bills in full within the period, the bank won’t charge any interest. 
• With the RAKBANK business credit cards, you get unlimited airport lounge access across the MENA region. 
• With the RAKBANK Titanium Business credit card, you get purchase protection of up to USD 1,000 per item and up to USD 4,000 per occurrence.
• With this credit card, you can earn up to 1% cashback on all local and international transactions.
• You can enjoy exclusive dining offers across 2000 restaurants in the UAE. 

3- Emirates Islamic Business Credit Card

Benefits & Features of Emirates Islamic Business Credit Card

• With Emirates Islamic Business credit card, you get emergency medical and legal referrals anywhere around the world.
• Using the business card, you can also avail yourself of multi-trip travel insurance to secure your travel against accidents and inconveniences for up to 90 days. 
• For each purchase using the Emirates Islamic credit card, the cardholder earns El SmartMiles that he/she can redeem later to avail of exclusive discounts. 
• Using your Emirates Islamic Business credit card to buy a product automatically increases its warranty by one additional year on manufacturer warranty.
• With the Emirates Islamic Business credit card, you get complimentary access to over 750 airport lounges worldwide. 
• The card offers purchase protection that secures your purchased products against loss, theft and damages. 
• With the Emirates Islamic business credit card, you get multi-trip travel insurance that secures your trips and vacations for up to 90 days.
• With easy payment plans, you can convert your larger purchase into convenient instalments and manage your cash flow efficiently. 
• Using the Business credit card cash advance facility, you can withdraw up to AED 10,000 daily at any ATM worldwide. 
• With Emirates Islamic business credit card, you get exclusive offers and discount on business trip booking through Kaligo.com
• For Signature business credit cardholders, the bank offers a global concierge service to book your flights, hotels, restaurants and more. 

4- ADCB Business Platinum Credit Card

Benefits & Features of ADCB Business Platinum Credit Card

• With an ADCB Business Platinum credit card, you get Credit Shield insurance that protects your outstanding balances against accidental death, critical illnesses, job loss, permanent disability, etc. The total coverage amount caps to AED 200,000.
• In addition, the bank also offers Corporate Liability Waiver in case of fraudulent use of the business credit card by an employee. 
• ADCB Business credit card also offers fraud insurance that protects you from unauthorised transactions, stolen cards and any fraudulent activity. 
• Using the ADCB Platinum credit card, you can avail of free airport lounge access across the globe up to 3 times a year. 
• With the Platinum business credit card, you get exclusive access to Buy 1 Get 1 offers across the Middle East and Africa. You simply need to make the purchase using the business credit card to avail of the discount. 
• As a lifestyle benefit, you can avail yourself of a complimentary 60-minute spa and fine dining. 
• Additionally, you get 25% off on all the up-street restaurants and select diners across the UAE. 
• For making business purchases, you get rewarded with cashback and rewards, and you can save up to AED 16,700 each year to add up to your cash flow. 
• ADCB Platinum Business credit card can be customised with the name of your company, boosting your recognition.  

Eligibility Criteria to Apply for Business Credit Cards with Life Insurance in the UAE

Business entities willing to apply for a credit card offering life insurance need to satisfy a few criteria related to their business operation and revenue. Several banks in UAE may also consider the owner’s personal details before offering a business credit card. Applicants need to satisfy the following eligibility criteria while applying for business credit cards with life insurance.

• Individual’s age - To acquire a business credit card in the UAE, an applicant must have attained the age of 21 years. Few banks have an upper age limit of 60 to 65 years, above which the individual cannot apply for a credit card. 
• Minimum Relationship Balance - Before offering a credit card, numerous banks in UAE consider the liquid funds available with business entities. It shows their stability and capability to cope with emergencies. With better stability, the chances of acquiring a business credit card increase.  
• credit Score and History - While reviewing credit card applications, banks in the UAE enquire about the business’s creditworthiness. It may also consider the credit scores of the business owners. Businesses with better credit scores and history are eligible for business credit cards with life insurance. 
• Annual Revenue - Annual revenue is the total turnover of a specific business. To apply for business credit cards with life insurance, the enterprises need to satisfy the annual revenue requirements depending on the bank and the credit card.  
• A Valid UAE Trade Permit - Along with other requisite documents, the entities applying for a business credit card needs to have a valid trade license issued by the Department of Economic Development (DED) UAE. 
• Business Location - The business needs to have a local office and operate within the geographical boundaries of the UAE. A business established outside the UAE needs to have an active branch in the UAE.
• Operation Period - The businesses need to operate successfully for 1-3 years depending on the bank’s requirements before applying for the credit card. The bank lays down these criteria to know the financial stability and reliability of the business. Since new businesses are unstable and possess a higher risk than established businesses, they may find it difficult to acquire a business credit card.

Documents Required while applying for Business Credit Cards with Life Insurance 

After the company checks its eligibility, it needs to collect the required documents and submit them to the bank in the prescribed format. The documents may vary depending on the issuing bank and type of business. The list of documents a business requires during credit card application is as follows.

• A copy of the trade license issued by the Department of Economic Development UAE
• Valid passport of all the business owners, partners, signatories or stakeholders (if applicable) 
• Valid Emirates ID of all the partners, signatories or stakeholders residing in the UAE
• Past one or two years business performance (cash flow report) of the enterprise
• Company incorporation certificate or details
• Bank account statement of the company of the past 12 months
• Power of attorney or the board members’ resolutions
• A bank reference letter or company profile is applicable
• Official address proof of the company
• Memorandum of Association or Partnership Agreement
• Documents related to the business and its operations

Tip: To have a hassle-free business credit card application, produce all the relevant documents related to your business and its owners. 

How to Apply for a Business Credit Card with Life Insurance in the UAE?

UAE banks accept applications via numerous online and offline modes. The applicants can use the online channels to apply for a business credit card or they can visit the bank in person to apply for a credit card. Various means of applying for a credit card with life insurance are as follows.

• Online Application - For online applications, individuals need to visit the bank’s official website and scroll through the business credit card section. Subsequently, they need to select the best business credit card with life insurance as per their requirements. After selecting the business card, you need to enter your contact and personal details. The bank will contact you for the further application process. 
• Offline Application - To apply offline, the business representative needs to visit the bank with relevant documents. Later, they need to select their credit card and fill in the required details as per the instructions of the banking personnel. Once your application is approved, the bank releases the credit card to the registered address of the client. 
• Application via Phone - Numerous banks in the UAE accept business credit card applications via phone. The applicants need to contact the bank’s support team with the phone number provided on the bank’s website. The support team will guide the applicant through the application process.

Annual Charges on Business Credit Cards with Life Insurance in the UAE

Business credit cards are subject to charges related to annual membership and retail finance rates. In addition, business credit cards also include various transaction charges depending on the bank. The following list shows the annual charges on business credit cards with life insurance in the UAE.