Insurance in UAE – Orient

Table of Contents

BEST ENDOWMENT PLAN FOR LIFE INSURANCE 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.

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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.

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PARAMETERSTRIPLUS-Money Back PlanEDUCARE – Child Education PlanEDUCARE Ltd – Child Edu PlanLIFESHIELD – Saving Plan
Minimum Term6 years5 years8 years5 years
Maximum Term30 years30 years30 years30 years
Maximum Age at Entry64 years65 years62 years65 years
Maximum Age at Maturity70 years70 years70 years70 years
Guaranteed Maturity Benefit50% of Sum Assured + Guaranteed Bonus (1% x Term x Sum Assured)+ Terminal Bonus100% of Sum Assured + Guaranteed Bonus (1% x Term x Sum Assured)+ Terminal Bonus100% of Sum Assured + Guaranteed Bonus (1% x Term x Sum Assured)+ Terminal Bonus100% of Sum Assured + Guaranteed Bonus (1% x Term x Sum Assured)+ Terminal Bonus
Death Benefit100% of the Sum Assured + Accrued Bonus1% of the Sum Assured every month till maturity + WOP + 100% Sum Assured + Accrued Bonus at end of term100%SumAssured 1% of the Sum Assured every month till maturity + WOP + 100% Sum Assured + Accrued Bonus at end of term100% 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 2of 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 4of 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 BonusPerformance based bonus which can be declared by Orient Insurance CompanyPerformance based bonus which can be declared by Orient Insurance CompanyPerformance based bonus which can be declared by Orient Insurance CompanyPerformance based bonus which can be declared by Orient Insurance Company
Terminal BonusOn declaration will be payable on Death or MaturityOn declaration will be payable on Death or MaturityOn declaration will be payable on Death or MaturityOn declaration will be payable on Death or Maturity
Min. Monthly PremiumAED250/USD 70AED250/USD 70– AED250/USD 100AED250/USD 70
Min. Quaterly PremiumAED950/USD260AED950/USD260AED750 USD 250AED950/USD260
Min. Half Yearly PremiumAED1750/USD 480AED1750/USD 480AED1,500/USD 500AED1750/USD 480
Min. Yearly PremiumAED 3000 / USD 820AED 3000 / USD 820AED 3,000/USD 1000AED 3000 / USD 820
Premium Grace Period90 days from the last premium due date90 days from the last premium due date90 days from the last premium due date90 days from the last premium due date
Reinstatement24 month since the earliest due date for which premium was unpaid24 month since the earliest due date for which premium was unpaid24 month since the earliest due date for which premium was unpaid24 month since the earliest due date for which premium was unpaid
Scope of CoverWorldwide coverageWorldwide coverageWorldwide coverageWorldwide coverage
RidersAccidental 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)
SurrenderAllowed after 2 years from commencement of plan. Depends upon the term of the planAllowed after 2 years from commencement of plan. Depends upon the term of the planAllowed after 2 years from commencement of plan. Depends upon the term of the planAllowed after 2 years from commencement of plan. Depends upon the term of the plan

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