Every person who runs a family would want only one thing. Financial security. As a provider, you earn a lot and try your best to satisfy your family’s desire. However, the income that you receive should be protected if in case any unforeseen situation happens. Therefore, you must never hesitate to select the best insurance in UAE. While taking care of everyone’s needs, you may take some loan or mortgage to support any financial requirements. So, you also need to protect your family from these loans. Here is everything about Orient Insurance’s Loan Trust Plan.
With this plan, even if the breadwinner passes away, the family will be safeguarded from the mortgages and loans. They will not feel much difficulty in repaying or reducing the total default amount.
Let us learn more about the LoanTrust Plan in the coming sections.
What is the LoanTrust Plan?
This plan from Orient Insurance provides a complete life assurance. It covers your family and offers enhanced financial security. LoanTrust will relieve you of the pressure of handling uncertainty. You would not have to constantly worry about the unknown factor of life. Even after the earning member of the family passes away, the survivors will have enough to cover for the absence of the breadwinner.
On the death or disability of the insured, the sum assured will be paid to the beneficiaries.
Features of LoanTrust Plan
The features of this plan make this the best investment in UAE for expats. You must consider a number of factors before selecting a policy. For this, get the help of a professional who can guide you on the right path towards achieving financial security and stability.
Following are the key features of this policy:
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- This plan has worldwide coverage for all Gulf Cooperation Council (GCC) residents
- Every professional who does financial planning in Dubai for their clients prefers this plan. It is because the payment options are very flexible.
- LoanTrust policy gives the full freedom to the policyholder to choose either on one of the two currencies, namely, USD and AED.
- There are numerous options in this term that a person can opt for till the age of 70
- This plan provides a safe life assurance at an economical cost
- The policyholder can opt for any one of these add-ons to his policy:
- Passive war risk cover
- Permanent total disability because of accident or sickness
Term details
Selecting life insurance or term insurance for NRI will depend on the policy’s terms. It is advisable to get the help of a professional to know more about the details of a particular plan.
Following are the terms of the LoanTrust plan:
Eligibility
The minimum age of a person on entry is 18 while the maximum is at 65.
Premium payment
The policyholder can pay premiums in any one of the three methods:
- Every Month
- Once every 6 months
- Annually
Any life insurance plan will be cost-effective when you select one while you are young. With the LoanTrust plan, an individual will be able to provide his family with adequate financial security. Get in touch with Life Insurance Bazaar today to get quality assistance with selecting a wide range of term life, child’s education, and retirement plan in UAE.
