WHY CHOOSE LIFE INSURANCE WITH BAZDXB.COM
At Bazdxb.com we firmly believe we provide an unmatched customer experience and trust our members recognize that as well! Here are just 5 reasons why:
customer satisfaction is our number one priority and we’ve got the feedback to prove we deliver!
Dedicated insurance advisor to help answer your questions and help you with your purchase
Responsive, reliable and dedicated claims manager to offer advice, reassurance and assistance when you need it most.
Competitive prices and comprehensive products providing the cover you need at a price you can afford from the insurers you can trust
Great value-added services such as discount vouchers that are sent with your policy: you just keep on saving with bAZDXB.COM
Highest rated insurance provider in the UAE
Simple and fast claims process
Dedicated insurance advisor to answer all your questions
WHAT TYPE OF LIFE INSURANCE DO I NEED?
We all have different attitudes when it comes to risks and how much we are willing to pay to protect against them, so we can’t answer this question categorically. However, if we were to consider the main risk, which is death benefit, you have two clear options: term life insurance and whole of life plans. Let’s explore these a little further:
01.
Term Assurance:
With a term assurance policy, you are covered for a period between 5 to 35 years, depending on the tenure you choose. These policies don’t have a saving/investing element and offer monthly or yearly premium payment throughout the term of the policy.
02.
Whole Of Life:
These policies are valid throughout the lifetime of the insured person. Most offer either monthly or annual premium payments, and unlike term assurance policies they often have a saving/investment element.
Both are widely available in the UAE and all leading insurers have reputable, reliable products. At Bazdxb.com we have access to a wide range of policies and can therefore help you make the decision that is right for you.
WHAT IS NOT COVERED UNDER YOUR LIFE INSURANCE?
An insurance policy is designed to cover “relevant risks” and life insurances are no exception. Whilst life insurance policies seek to protect you as much as possible, some scenarios may lead the insurance company to deny paying your claim to the beneficiaries. Typical examples include:
Suicide as the cause of death:
If the cause of your death was proved to be suicide, the insurance company may refuse to pay out the death benefit to your beneficiaries.
Non-disclosure:
If you omitted to tell the insurer an important fact when taking out the insurance, the company may decide to refuse your claim. Examples of this include deliberately withholding information about a pre-existing medical condition, giving the incorrect age or falsifying information about family medical history.
WE WORK WITH THE LEADING LIFE INSURERS IN DUBAI AND THE UAE.
At bazdxb.com we’re proud to have enjoyed a lot of years’ experience of helping customers with their Life insurance needs and over these years have built great partnerships with the leading and most respected Life insurers in the Dubai/UAE market: big names such as Zurich, Oman, Orient, MetLife and many more. Our relationships and reputation mean we can secure great deals, discounts and covers that are the best in the market and pass all these benefits on to you!
WHAT ADDITIONAL COVER OPTIONS AND UPGRADES ARE AVAILABLE?
Whilst a life insurance policy provides many invaluable benefits as “standard”, it doesn’t cover every eventuality in its core benefits since different people have different needs. That’s why many insurers offer a range of additional covers for customers to choose from. These include benefits such as:
01.
Critical Illness Benefit:
A positive diagnosis for a potentially life-changing or life-threatening condition could severely affect your family. This benefit ensures a lump sum is paid to you upon diagnosis, so you have one less thing to worry about.
02.
Family Income:
Life insurance helps you plan for your family’s future in the event you’re no longer around to help provide and care for them. This benefit allows you to provide a regular series of payments to your family for a specified time.
02.
Hospitalization:
This is an additional payable benefit if you were hospitalized for 4 consecutive days or more.
WHAT DO I NEED TO GET A LIFE INSURANCE QUOTE?
- Purpose of the insurance: death benefit, income replacement, saving, etc.
- Marital status and number of children/dependents.
- Tenure of the insurance: fixed term or whole of life.
- Whether or not you’re a smoker.
- The level of financial cover you require (sum insured).
HOW CAN I GET LOW COST ONLINE LIFE INSURANCE?
There’s no magic formula for getting value for money life insurance but there are some steps you can follow and things you can do to get the best deal for your dirhams! We asked Bazdxb and here’s what he suggests:
Never buy insurance at the last minute. Give yourself plenty of time to consider the coverage you need against what’s available in the market. If time is running out then the budget can too if you blow it by taking the first deal that’s on offer……even worse, you might just end up paying a lot more money for a whole lot less cover!
Don’t be tempted to “go through it alone” in your search for the best policy at the best price. Let the experts help! At Bazdxb.com our insurance advisors are just waiting to do the hard work for you. It’s a simple but winning formula. No extra cost + no waste of your time = no brainer!
Don’t get too hung up on price alone. Being mindful of money is no bad thing but being bound by a budget can prove “false economy” if you don’t have the correct cover and lose out when it comes to a claim. At Bazdxb.com we search the market and work with you to find the best cover for your budget.
SOME FREQUENTLY ASKED QUESTIONS
What is life insurance?
Life insurance is a contract between an individual and an insurance company, where the policyholder pays regular premiums in exchange for a lump-sum payment (death benefit) to the designated beneficiaries upon the insured person’s death.
Why do I need life insurance?
Life insurance provides financial protection for your loved ones in the event of your death. It can help cover funeral expenses, replace lost income, pay off debts, and ensure the financial well-being of your dependents.
What types of life insurance are available?
The main types are term life insurance, which provides coverage for a specific term, and permanent life insurance, which includes whole life and universal life policies that provide coverage for the entire lifetime of the insured.
How much life insurance coverage do I need?
The amount of coverage depends on various factors, including your financial obligations, income, debts, and future needs. A common rule of thumb is to have coverage that is at least 10 times your annual income.
What is the difference between term and permanent life insurance?
Term life insurance provides coverage for a specified term (e.g., 10, 20, or 30 years), while permanent life insurance lasts for the entire lifetime of the insured. Permanent policies also have a cash value component that can grow over time.
How are life insurance premiums determined?
Premiums are typically based on factors such as age, health, lifestyle, and the amount of coverage. Younger, healthier individuals often pay lower premiums.
Can I change my life insurance coverage?
Yes, many policies allow you to adjust coverage amounts or convert a term policy to a permanent one. However, changes may be subject to underwriting and approval.
Is the life insurance payout taxable?
Generally, life insurance death benefits are not taxable. However, there are exceptions, such as when the policyholder has assigned the policy for value or if the estate is the beneficiary.
Can I have multiple life insurance policies?
Yes, it’s possible to have multiple life insurance policies from different insurers. This may be beneficial if you have specific needs that different policies can address.
Should I get life insurance if I'm single and have no dependents?
While life insurance is often associated with providing for dependents, it can also be used to cover debts and funeral expenses. Additionally, getting a policy when you’re young and healthy may result in lower premiums.