Life is uncertain. You might be working in a plush office, drawing a fat pay check and have a huge mortgage to support your increasing financial needs and lavish lifestyle. But what if an accident tomorrow leaves you incapacitated for life or worse kills you, leaving your family in doldrums. A life insurance policy is, therefore, a must if you care for your family’s needs in the event of your death. A life cover will provide a lump sum to your family in the case of your death. In addition to the life cover, a life insurance policy may offer several other attractive features such as waiver of premium on disability, critical illness coverage and so forth. In order to choose the most suitable life insurance policy, you should do market research before zeroing in on several features such as the contribution period, currency, and permanent total disability and accident death benefits among many others.

• Term Life Insurance Policy – Term Life Insurance policies offer insurance cover only for a defined term, it may be one year or more depending on the policy. Death benefit will be paid to the family of the policyholder in case of death of the policyholder during the policy term. Protection will be offered as long as the premiums are paid. Though the policy terminates after a certain period of time, some term insurance policies offer the option of renewal. The premiums more often than not increase with age for each renewal.
• Whole life Insurance Policy – Whole Life Insurance Policy also known as straight life insurance policy is probably the only life insurance policy that offers cover up to the age of 95 years. The customer or investor can avail the benefits of protection from the policy for whole life by paying premiums only for a certain period of time. The Whole Life Insurance policy usually comes with level premium. It is an investment linked insurance policy.
• Universal Life Insurance Policy -A Universal Life Insurance Policy is a life insurance policy that will let the policyholder customise their policy by adding a wide range of investment options. The policy comes with a wide range of benefits including death benefit, tax benefits and much more.
• Personal Accident Insurance Policy – Personal Accident Insurance is an optional insurance feature that can be added to your general life insurance policy. This insurance policy will assist the family of the policyholder with expenses such as funeral expense and other expenses after the death of the policyholder. There are certain limits on this policy.

• Offers life cover protection. With life coverage benefit, your family can meet any financial necessities or obligations in the event of your death.
• Offers low premium costs. Life insurance policies, by and large, are affordable in that they provide high coverage at lower costs compared to other insurance products.
• Multi-currency: Customers can choose between three major currencies – USD, GBP or EURO in Dubai. In the event of the death of the policyholder, his or her family will get the lump sum in the currency selected.
• Value addition: Life insurance is an affordable financial policy which ensures that your family can pay off all your liabilities in the event of your death.
• Flexibility in terms of customization: Life insurance policies can be customized to suit your requirements by adding various benefits, namely, forever benefit, waiver of premium, accidental death benefit, permanent total disability and personal accident among others.
• Offers Renewable Terms: Most life insurance policies offer renewable terms. For instance, if you choose a five year renewable term policy, you can not only enjoy coverage for the said period but also renew the policy for the same duration. The term can be converted to a permanent plan, i.e., whole life or endowment plans. Also, a level term insurance offers customers the flexibility to pay premiums over a period of 10, 15, 20 and 25 years with a fixed premium throughout the policy term.
• Some life insurance policies have a provision of a replacement income if the sole breadwinner dies.
• In many cases, life insurance cover helps consumers repay any loans or debts left behind by the policyholder.