Term life insurance in the UAE is seeing record-high demand, as residents increasingly recognise the importance of protecting their families financially. With the after-effects of the Covid-19 pandemic, rising health concerns, and a growing expatriate population, term life cover is now a vital part of financial planning for individuals and families across the Emirates. At IAE Insure, we’ve seen a sharp shift in how people approach life protection and future planning, particularly among younger adults and expats.
Why More People in the UAE Are Buying Term Life Insurance.
A growing number of UAE residents are taking proactive steps to ensure their loved ones are protected in the event of the unexpected. Several key trends are fuelling this demand including: a rising expatriate population seeking financial security; increased health awareness, especially related to lifestyle diseases; a shift in financial mindset post-Covid, with a greater focus on planning; and a desire for affordable life cover with high-value pay-outs.
‘We’re seeing an increasing number of individuals prioritise financial protection as a necessity, not a luxury,’ says Ian Featherstone, Managing Director of IAE Insure. ‘Term life insurance is affordable, accessible and essential for securing peace of mind.’
What Is Term Life Insurance?
Term life insurance offers cover for a fixed number of years – typically 10, 20, or 30. If the policyholder passes away during this term, their beneficiaries receive a tax-free lump sum. This makes it an ideal solution for budget-conscious individuals and families who want strong protection without high costs. Term Cover has a number of attractive attributes including:
- Low premiums and high cover
- Simple, transparent policies
- Flexible terms to suit your life stage
- Peace of mind for your dependents
‘The beauty of term life insurance is its simplicity’ adds Ian. ‘It offers protection when you need it most, without unnecessary complexity.’
UAE Residents Are Buying Cover Earlier in Life.
One of the most notable trends in the market is the increase in younger adults taking out term life policies. This is largely due to greater awareness of health risks linked to stress, obesity, poor nutrition, and sedentary lifestyles – conditions that are now affecting younger people more frequently. Healthcare experts in the UAE continue to raise concerns about rising cardiac incidents in people under 40, and many residents are responding by locking in cover early to benefit from lower premiums and more favourable policy terms. ‘The earlier you secure cover, the better your rates and options. It’s a smart move, especially for those just starting out in their careers or starting families,’ says Featherstone.
UAE Life Insurance Market Set for Major Growth.
With gross written premiums in the UAE life insurance market projected to exceed 3.87 billion dollars by 2024, the sector is rapidly growing. As awareness increases and financial planning becomes more mainstream, more residents are viewing life cover as a critical element of their overall financial health. ‘The UAE insurance market is maturing fast, and term life policies are leading the way. People want cost-effective, reliable protection – and that’s exactly what term life insurance offers’ adds Featherstone. ‘Whether you’re an expat planning for long-term peace of mind or a young professional looking to protect your future, term life insurance in the UAE offers the security you need. If you have any questions, our experienced advisors are here to help you find the right policy at the right price.’
Contact IAE Insure today and take the first step towards a more secure future.
