Introduction to Dubai Islamic Bank Life Insurance in UAE
Dubai Islamic Bank (DIB) offers ‘Osrati’, a takaful life insurance plan which offers protection to the insured and their family. ‘Osrati’ is owned by Noor Takaful and distributed by DIB. In this plan the insured makes contributions/payments for a minimum of five years or more and avail benefits all their life. It is an effective savings plan with affordable regular premiums. It offers a life takaful cover up to AED 20 million. The insured and their family can enjoy the benefits of the plan for their entire life (till the age of 99 years). It also has additional benefits that can offer better protection.
Features and Benefits of DIB Life Insurance
- Natural death benefit- It offers lump sum benefit to the family in case of death of the insured.
- Offers critical illness benefit- Offers cover for all the major critical illness.
- Offers cover for permanent and total disability benefit.
- Offers additional benefit riders.
- The product is owned by Noor Takaful and distributed by DIB.
- The minimum term is five years.
- Offers life cover up to AED 20 million.
Eligibility Criteria for DIB Life Insurance
- Minimum- 18 years
- Maximum- 64 years
- Plan term - Up to the age of 99 years
- Payment term - Minimum 5 years
- Minimum contribution - AED 500 per month or AED 6,000 per annum
- Free look period - 15 days
- Takaful cover:
- Minimum-AED 100,000
- Maximum- AED 20,000,000
Why choose DIB Life Insurance?
The life insurance plan offered by DIB is a takaful life insurance plan. The main feature of the plan is that the insured can enjoy the benefits of the plan up to the age of 99 years just by making payments for a minimum of 5 years. The plan offers life cover of a whooping AED 20,000,000. It offers fund value at maturity.
Other products offered by Dubai Islamic Bank in UAE are:
Frequently Asked Questions - FAQs
What is the maximum cover amount offered by the plan?
Is there a minimum plan term?
Can expats avail the plan?
What happens in the case of the death of the insured?
What is the minimum monthly contribution?
Can the beneficiaries be changed?
What is the free look period?
The plan offers a maximum cover of AED 20,000,000.
The plan has a minimum term of 5 years.
No. Only UAE residents between the age of 18 and 64 are eligible for the plan.
A lump sum amount is paid to the family of the insured in case of the death of insured.
The minimum monthly contribution is AED 500.
The option to change beneficiaries is allowed.
The free look period is for 15 days.