Life Insurance in UAE

There are umpteen companies of Life insurance in the UAE, which have perfect plans with the best prices. I have short-listed down these companies to 3, which are the best ones. Let us discuss them. 

The first name that I have is,

1. Oman Insurance Company

It was established in 1975; Mashreq Bank owns its majority. It is situated on the ground floor, Majestic Tower, Al Khan, Corniche Street, Sharjah.

What Does The Company Deal In?

In terms of life insurance, Oman Insurance Company covers all the aspects of life insurance as it has a comprehensive protection plan that combines the benefit of life insurance with a range of global investment options. Their plans are quite affordable; they specialize in health insurance for providing good programs at the most affordable rates. Their insurance plans are readily available with very little documentation, and the settlement of claims is also quick.

How Good Is The Company?

Oman insurance company comes under the most reliable names when we talk about life insurance plans. It has been rated as excellent by Standard and Poor’s.

The second name in our list, when we talk about companies of Life insurance in UAE is,

2. Salama Life Insurance Company

Salama Life Insurance company is an Islamic Arab insurance company based in Dubai, UAE. It’s been operating in the market since 1979. It is situated at Spectrum building,4th floor, block A, Sheikh Rashid Road, Dubai.

What Does The Company Deal In?

Salama Life Insurance Company specializes in providing accurate solutions to the clients’ diverse needs. It has a wide range of protection Savings Investment plans, which can be customized according to the customer needs, to suit the requirements of the individual. Salama Insurance Company offers three programs in life insurance that are,

1.Hyat Plus Whole Of Life Plan
2.Hyat Superior Whole Life Plan
3.Hemaya Plus Term Plan.

These plans are very comprehensive and can be personalized.

How Good Is The Company?

Salama Life Insurance has been rated as B-plus from Standard and Poor’s
The third company which is regarded as reliable amongst for life insurance in UAE is,

3. Union Life Insurance Company

It was established in 1998 and had its corporate office in Dubai and is listed on the Abu Dhabi securities exchange. It is situated at Single Business Tower, former Sheikh Zayed Road, Business Bay, Dubai, UAE.

What Does The Company Deal In?

Union Life Insurance Company offers different Life Insurance plans like Group life insurance, offering much-needed financial security to the company’s employees and family members, against several mishappenings. Then we have, Flexi Life Insurance plan supporting policyholders’ economic aspirations and circumstances, and then we have a Short term program offering financial help to the insured family members.

How Good Is The Company?

The company has been rated as B++ by Standards and Poor’s.

The Most Cost Friendly Company

Suppose we review all these companies of life insurance in the UAE. In that case, we see that the Oman insurance company is the most pocket-friendly company because it offers the most comprehensive plans, customized according to customer needs with various benefits at very affordable prices. These plans are very detailed, and the settlement of claims is also accurate and quick.

The Best Company

Comparing all the companies, in terms of the quality of service and other factors, I think the best life insurance company in UAE is, Union Insurance Company, owing to different schemes, the company has under life insurance, to cater to the financial aspirations and circumstances of the insured, offering them and their family members full-fledged security.