BEST ENDOWMENT PLAN LIFE INSURANCE PRODUCTS IN UAE
1. TriPlus
TriPlus is a money back plan for individuals who require money at certain intervals in their lifetime to meet short and long-term financial needs like purchasing a house, a dream car, or even a vacation. Through TriPlus, Orient Insurance gives you a plan with dual benefits of Life Insurance as well as Capital Guaranteed savings and accrued bonuses during the Policy.
2. EduCare (Regular + Limited option)
EduCare is a life insurance plan bundled with insurance that protects your child’s education and other family requirements in the event of death. This product is designed to provide complete flexibility on plan term and premium payments and allows you to save with capital guaranteed returns on savings and accrued bonuses during the policy.
3. Life Shield
LifeShield is a simple long term capital guaranteed savings plan bundled with insurance benefit that takes care of your family and help them maintain their standard of living – should something happen to you or your partner. Apart from taking care of outstanding loans or mortgages, Life Shield can also protect your children’s education or provide for your partner’s retirement.
| PARAMETERS | TRIPLUS-Money Back Plan | EDUCARE - Child Education Plan | EDUCARE Ltd - Child Edu Plan | LIFESHIELD - Saving Plan |
|---|---|---|---|---|
| Minimum Term | 6 years | 5 years | 8 years | 5 years |
| Maximum Term | 30 years | 30 years | 30 years | 30 years |
| Maximum Age at Entry | 64 years | 65 years | 62 years | 65 years |
| Maximum Age at Maturity | 70 years | 70 years | 70 years | 70 years |
| Guaranteed Maturity Benefit | 50% of Sum Assured + Guaranteed Bonus (1% x Term x Sum Assured)+ Terminal Bonus | 100% of Sum Assured + Guaranteed Bonus (1% x Term x Sum Assured)+ Terminal Bonus | 100% of Sum Assured + Guaranteed Bonus (1% x Term x Sum Assured)+ Terminal Bonus | 100% of Sum Assured + Guaranteed Bonus (1% x Term x Sum Assured)+ Terminal Bonus |
| Death Benefit | 100% of the Sum Assured + Accrued Bonus | 1% of the Sum Assured every month till maturity + WOP + 100% Sum Assured + Accrued Bonus at end of term | 100%SumAssured 1% of the Sum Assured every month till maturity + WOP + 100% Sum Assured + Accrued Bonus at end of term | 100% of the Sum Assured + Accrued Bonus |
| Guaranteed Benefit Payouts | · 25% of SA on completion | · 25% of SA on completion | · 25% of SA on completion | · 25% of SA on completion |
| Guaranteed Benefit Payouts 2 | of 1/3 of the policy term. | of 1/3 of the policy term. | of 1/3 of the policy term. | of 1/3 of the policy term. |
| Guaranteed Benefit Payouts 3 | · 25% of SA on completion | · 25% of SA on completion | · 25% of SA on completion | · 25% of SA on completion |
| Guaranteed Benefit Payouts 4 | of 2/3 of the policy term. | of 2/3 of the policy term. | of 2/3 of the policy term. | of 2/3 of the policy term. |
| Guaranteed Benefit Payouts 5 | · 50% at Maturity. | · 50% at Maturity. | · 50% at Maturity. | · 50% at Maturity. |
| Reversionary Bonus | Performance based bonus which can be declared by Orient Insurance Company | Performance based bonus which can be declared by Orient Insurance Company | Performance based bonus which can be declared by Orient Insurance Company | Performance based bonus which can be declared by Orient Insurance Company |
| Terminal Bonus | On declaration will be payable on Death or Maturity | On declaration will be payable on Death or Maturity | On declaration will be payable on Death or Maturity | On declaration will be payable on Death or Maturity |
| Min. Monthly Premium | AED250/USD 70 | AED250/USD 70 | - AED250/USD 100 | AED250/USD 70 |
| Min. Quaterly Premium | AED950/USD260 | AED950/USD260 | AED750 USD 250 | AED950/USD260 |
| Min. Half Yearly Premium | AED1750/USD 480 | AED1750/USD 480 | AED1,500/USD 500 | AED1750/USD 480 |
| Min. Yearly Premium | AED 3000 / USD 820 | AED 3000 / USD 820 | AED 3,000/USD 1000 | AED 3000 / USD 820 |
| Premium Grace Period | 90 days from the last premium due date | 90 days from the last premium due date | 90 days from the last premium due date | 90 days from the last premium due date |
| Reinstatement | 24 month since the earliest due date for which premium was unpaid | 24 month since the earliest due date for which premium was unpaid | 24 month since the earliest due date for which premium was unpaid | 24 month since the earliest due date for which premium was unpaid |
| Scope of Cover | Worldwide coverage | Worldwide coverage | Worldwide coverage | Worldwide coverage |
| Riders | Accidental Death Benefit, Partial & Total Permanent Disability, Waiver of Premium (Inbuilt in EduCare) | Accidental Death Benefit, Partial & Total Permanent Disability, Waiver of Premium (Inbuilt in EduCare) | Accidental Death Benefit, Partial & Total Permanent Disability, Waiver of Premium (Inbuilt in EduCare) | Accidental Death Benefit, Partial & Total Permanent Disability, Waiver of Premium (Inbuilt in EduCare) |
| Surrender | Allowed after 2 years from commencement of plan. Depends upon the term of the plan | Allowed after 2 years from commencement of plan. Depends upon the term of the plan | Allowed after 2 years from commencement of plan. Depends upon the term of the plan | Allowed after 2 years from commencement of plan. Depends upon the term of the plan |