Introduction to Standard Chartered Life Insurance in UAE
Standard Chartered Life Insurance provides the customer financial protection. It ensures that you stay protected financially in case of a serious event like an accident or serious illness. In addition to protecting you, it offers financial protection for your family in case something unfortunate should happen to you. Some of the insurance plans not only offer protection but they act as an instrument to meet your financial goals.
Types of Life Insurance Plans offered by Standard Chartered Bank
There are three types of life insurance policies offered by Standard Chartered Bank.
Traditional Life Insurance:
Term insurance plans are the affordable insurance plans which protects your family in your absence. The sum assured doesn’t fluctuate and the plan has no investment component thus the insured doesn’t have to handle investment returns or investment losses if the policy expires before the occurrence of the insured event. It offers flexible payment options and guaranteed cash value along with tax advantages.
Traditional life insurance plans offered by Standard Chartered Bank allows you to avail protection while allowing you to achieve your financial objectives simultaneously. The premiums for traditional life insurance policy is higher compared to the premiums of term life insurance. The accumulated cash depends on the period of the policy. There are different types of traditional life insurance and they are listed below.
- Whole of life policy
- Annuity policy
- Universal life policy
You can choose a traditional life insurance policy depending on your protection and investment needs.
Investment Linked Insurance:
If your priority is investment when it comes to life insurance, then Investment Linked Insurance is the best plan for you. The policy offers protection and investment returns. The premiums paid are divided between Life insurance protection and investment units in professionally managed investment linked funds. This policy doesn’t provide guaranteed cash value since it all depends on the underlying fund units.
Why choose Standard Chartered Bank Life Insurance?
Standard Chartered Bank offers not one but three kinds of life insurance policies with various benefits. The life insurance policies offered not only provide protection but they also provide investment returns. It offers flexible payment options and hassle free application process.
Other products offered by Standard Chartered in UAE are:
Frequently Asked Questions - FAQs
What are the types of traditional life insurance policies?
Traditional Life Insurance plan offers three kinds of policies, they are:
- Whole life
- Annuity policy
- Universal Life policy
Do Investment Linked Plans assure guaranteed cash value?
No, Investment Linked Plans don’t assure guaranteed cash value.