Any person with the right financial mind would never consider life insurance premiums as an expense. Protecting your assets, business, and family matters the most than earning for them. Life insurance will secure everything that belongs to you financially in case of an unforeseen event. Without insurance, there is no security. In this post, we will know about Zurich’s Simple Wealth Plan which is termed as one of the best life insurance in Dubai.
Once you choose a life insurance plan, then your life becomes stress-free as there is no need to worry about any uncertainty. Look into the various terms and plan benefits of a policy before selecting one for yourself. But, for now, let us see about the Simple Wealth Plan.
About the Simple Wealth Plan from Zurich Insurance
This policy is a unit-linked life insurance policy that allows for a single premium payment. You can also grow your investment through further premiums. In this plan, the beneficiaries will get a certain agreed sum of money on the death of the last-life insured.
Why should you choose this policy?
It would be very helpful in consulting a professional in assisting you with selecting the best investment plans in Dubai. Here are some reasons that will make you consider the Simple Wealth Plan:
- Enables a single premium payment to fulfill all of your financial goals.
- Has the option to make extra premiums at your convenience.
- You can allocate all of your premiums to the plan.
- Gives you the choice to either make a single or regular withdrawal, if you want to.
- The plan offers suitable investment funds that will cater to your risk tolerance and profile.
- This Zurich insurance Dubai’s policy lets you decide among different currencies.
- Like any other life insurance policy, it will pay out an assured benefit on the death of the life insured. But, this plan has an additional feature.
- Besides the cash sum to the life insured, this plan will also offer an enhanced benefit till the initial 15 years of the plan.
Product terms
Now that we have seen the primary features of this term insurance in UAE. Let us look into the terms of this Simple wealth policy from Zurich.
Ownership in this Policy
In this plan, there are two types of ownership:
- Single Policy
- Joint Policy
Life insured bases – The policy can either be on your own life, joint lives – last death, or life/lives of another
Age requirement
Policyholder – On the start date of the plan, the policyholder must be at least 18 years of age and not more than 74 years of age.
Life Insured – The terms for the life insured is the same as the above cases. However, if one needs to be eligible for the enhanced death benefit, then the maximum age limit is reduced to 60 years.
Policy Term
Since this plan is a whole life insurance policy, it does not have a fixed term. But, to grow your capital to a considerable amount, then it is advisable to hold the policy for at least five years.
Death Benefit
When the death of the last life insured person occurs, the beneficiaries will be paid 101% of the surrender value. In the case of an enhanced death benefit, either the aggregate premium minus any withdrawals will be paid or the 101% of the surrender value—whichever is less, will be given.
To know more about this plan or to get professional guidance in helping you choose a retirement, savings, life, or child education plan, consult Life Insurance Bazaar!
