Policybazaar.ae, one of the UAE's
leading digital insurance platforms, has partnered with Alliance Insurance
P.S.C. to launch the Smart Return Term Plan. The plan gives UAE residents
strong life protection for their families and the chance to get back every
dollar of base premium they have paid.
For years, term insurance in the UAE has
been a hard conversation. People understand why they need it. They want their
families protected if something happens to them. But almost everyone asks the
same question before signing up: "What if nothing happens? Do I just lose
all that money?" The Smart Return Term Plan is built as a clear answer to
that question.
The plan is pure protection at its core.
If the life assured passes away during the policy term, their beneficiaries
receive the full Sum Assured as a lump sum. What sets it apart is the Smart
Exit feature. For policies with a term of 30 years or more, the policyholder
gets a one-time option to exit the plan during a one-year Exercise Window,
which opens exactly six years before the policy's end date. Those who choose to
exit receive a refund of 100% of the base premiums they have paid.
Take a 30-year-old who buys a 30-year
policy. They stay protected through the years when their family depends on them
most. At 54, when the children may be grown and the home loan paid down, they
can decide whether to keep the cover running or walk away with their base
premiums back.
Those who choose not to exit keep their
full life cover in force until the end of the policy term. The decision stays
with the customer, and it is made at a point in life when they actually know
what they need.
Neeraj Gupta, Chief Executive Officer,
Policybazaar.ae,
said: "Term insurance is the most important financial decision a
breadwinner can make, and the one most often postponed. In the UAE, many
families rely on one income for school fees, rent and home loans, yet term
cover remains badly underpenetrated. The barrier is not awareness. It is the
belief that decades of premiums vanish. Until now, no term plan in this market
offered a way to get that money back. The Smart Return Term Plan changes the
equation: full protection when it matters most, and a clear path to recover
every dollar of base premium. With Alliance Insurance, we are setting a new
standard for life cover in the UAE."
Rami Al Mughrabi, Chief Executive
Officer, Alliance Insurance,
said: "For more than five decades, Alliance Insurance has focused on
building products that fit the real lives of people in the UAE. The Smart
Return Term Plan reflects that. It keeps the simplicity and affordability of
term insurance, and adds the flexibility people have been asking for. Our
partnership with Policybazaar.ae lets us put this plan in front of customers in
a way that is transparent, easy to compare and easy to buy. We see it as an
important step in widening access to life protection across the country."
The plan is open to individuals aged 20
to 65, with cover available up to age 85 and policy terms starting from five
years. Premiums are payable in US Dollars for the full policy term, on a
monthly, quarterly, semi-annual or annual basis, and there is no policy fee.
Beneficiaries receive a lump-sum death benefit equal to the Sum Assured, while
policyholders on terms of 30 years or more can use the one-time Smart Exit
option to recover 100% of their base premiums. Every policy also includes
built-in cover for Passive War and Passive Terrorism, capped at USD 1,000,000
per life. Customers choosing a term below 30 years with a Sum Assured of USD
500,000 or more benefit from a 20% discount on their premium.
The Smart Return Term Plan is available
now through Policybazaar.ae, where customers can compare options, get quotes
and speak with licensed advisors to find the cover and policy term that suit
their goals.
