Introduction to ADIB Life Insurance in UAE
Abu Dhabi Islamic Bank (ADIB) offers a life insurance plan that offers protection to you and your loved ones. ‘Hyat’- Superior Family Takaful is the life insurance policy offered by ADIB that protects you and your family against unforeseen tragedies. The insured has to pay a contribution amount for a defined term to enjoy protection along with multiple benefits that supports your financial needs. This plan is similar to conventional Unit Linked plans, investors should be aware of market risks and choose their investment strategy. The plan is Shariah approved and customers can apply for the plan online and once the details are received, one of the financial advisors from ADIB will reach out to the applicant and take it further.
Features and Benefits of ADIB Life Insurance
- Minimum monthly contribution- AED 200
- Minimum cover amount- AED 350,000
- Offers cover for critical illness
- Waiver of contribution
- Accidental death benefit
- Total permanent disability
- Accidental dismemberment benefit
- Family income benefit
- Coverage term- 100 years minus the age at entry
- Coverage basis- Single life only
- Currency option- USD and AED
- Full encashment allowed
- After the 3rd plan year, the member can partially withdraw at any time without any withdrawal charge.
- Switching between existing funds can be done any time free of charge.
- The plan is Shariah approved
Eligibility Criteria for ADIB Life Insurance
- Age -
- Minimum- 18 years
- Maximum- 74 years
- Minimum life cover - AED 350,000
- Minimum premium -
- Monthly - 50
- Quarterly - 150
- Half yearly - 300
- Yearly - 500
Why choose ADIB Life Insurance?
ADBI’S Life Insurance, Hyat, is a Sharia approved life insurance plan. It offers various benefits like full encashment, partial withdrawal, fund switching and contribution holiday thus making the plan very beneficial. The plan is available in two major currencies, AED and USD. It offers a hassle free process and the applicant can apply for the plan online through the ADIB official website.
Other products offered by Abu Dhabi Islamic Bank in UAE are:
Frequently Asked Questions - FAQs
What are the currencies allowed?
How often can premium payments be paid?
Is the plan approved by the Shariah law?
What is the minimum monthly contribution?
What is the minimum cover offered by the plan?
Does the plan allow partial withdrawal?
The plan allows USD and AED currencies.
Premiums can be paid monthly, quarterly, half yearly and yearly.
Yes, the plan is Shariah approved.
The minimum monthly contribution is AED 200.
The minimum cover offered by the plan is AED 350,000.
Partial withdrawal can be made free of cost after the 3rd plan year.