Affordable Life Cover for NRI`s
(27/3/2005)
Financial protection against death or a critical illness is a priority for many expatriates - whether this is to repay a mortgage, provide protection for their family or to establish key man insurance for their business.
However, there is only one international life insurance company in the UAE that provides cover for non-European expatriates and that company limits protection to a maximum of 10 years; not much use if you require the protection to cover a 15 year mortgage or protect your family until you reach retirement.
Identifying this need, Candour Consultancy has teamed up with two more international assurance companies to provide non-European expatriates living in the Gulf region with a affordable, flexible, international life assurance policy.
All such policies are regular premium contracta that provides a range of protection options such as life cover, that pays a cash sum on your death or diagnosis of a terminal illness, or critical illness cover as part of your overall life cover that pays you a cash sum following the diagnosis of a critical illness.
The policies can be established either on a single life, joint life first death or joint life second death basis. Additionally, the policy can be owned by the life assured, a company or a trust.
If required, benefits can be automatically increased each year either by a fixed amount (simple) or a set percentage (compound) on some policies.
|
