Buying a life insurance policy in the UAE helps provide financial security for you and your family. But did you know you can adjust your life insurance to better fit your needs by adding riders? Life insurance riders are extra benefits that you can add to your main policy, giving you more options and wider coverage.
In this blog, we will look at what a life insurance rider is, the different types available, and the main benefits. This will help UAE residents make better choices to improve their life insurance.
What is a life insurance rider?
A life insurance rider is an extra feature you can add to your existing life insurance policy. It allows you to increase your coverage beyond the basic life insurance plan, which typically only provides a death benefit. Riders come with an additional cost, but they are flexible and can be tailored to meet your needs, offering more protection for you and your family.
In the UAE, where many people are expats, riders are often chosen to cover specific needs, like protection against critical illnesses or income loss.
Why choose life insurance riders?
Adding life insurance riders is a great way to adjust your policy to fit your needs. Here’s why riders are popular in the UAE:
- Customisation: Riders let you adjust your coverage to cover all possible risks.
- Cost-effective: Adding a rider can be cheaper than buying a separate insurance policy.
- Extra protection: Riders cover situations that a basic life insurance policy may not, like serious illness, accidental death, or disability.
Types of life insurance riders available in the UAE:
Here are the most common life insurance riders in the UAE, with a simple explanation for each:
| Rider type | Description |
| Critical illness rider | Gives a payout if diagnosed with a serious illness like cancer, heart disease, or kidney failure. Helps cover high medical costs in the UAE. |
| Accidental death benefit rider | Offers extra payout if the insured dies in an accident. Adds more protection, especially considering the risk of road accidents in the UAE. |
| Waiver of premium rider | Waives future premium payments if you become disabled or unable to work while keeping your policy benefits active. Useful in the UAE due to high medical costs. |
| Family income benefit rider | This ensures that your family receives a steady income for a specific period after your death. This is important in the UAE, where living costs are high. |
| Spousal rider | It allows you to add your spouse to your life insurance, providing coverage for both partners. This is useful for families in the UAE, where both spouses contribute to income. |
| Child term rider | Covers your child in the event of their unexpected death. Many expats and UAE nationals choose this for peace of mind and financial protection. |
| Long-term care rider | It helps cover costs for long-term care, such as nursing homes or in-home care. This is beneficial in the UAE, where long-term care can be expensive. |
Here is a simple step-by-step guide to adding riders to your life insurance policy:
If you want to add riders to your life insurance, follow these simple steps:
1. Understand your needs: Consider your personal risks and what you need. Do you need coverage for serious illness, or do you want to ensure your family gets income after you pass away?
2. Talk to your insurance company: Get in touch with your insurance provider or agent to determine their rider options.
3. Compare prices: Although adding a rider is usually affordable, it’s a good idea to compare prices from different insurance companies to get the best deal.
4. Check the details: Carefully read the terms and conditions. Make sure you understand any limits or exclusions for each rider.
5. Add the rider: After deciding which rider is right for you, ask your insurance provider to add it to your current life insurance policy.
6. Keep it updated: As your life changes, check your policy to see if you need to adjust your riders to match your new needs.
What’s the final takeaway?
Adding life insurance riders is an excellent way to improve your financial protection and secure the future of your loved ones. Whether you are a UAE national or an expat, understanding the different types of riders and their benefits allows you to tailor your life insurance policy to fit your unique needs. Riders like critical illness or accidental death offer extra coverage for specific situations. Get in touch with your insurance provider today to explore which riders work best for your personal and family circumstances, ensuring you get the most comprehensive protection possible.
If you’re looking to compare different rider options and see what fits your circumstances, it’s helpful to consult with experts like InsuranceMarket.ae who can provide insights and help you make the best decision for your protection.
