Go Back  British Expats > Living & Moving Abroad > Middle East
Reload this Page >

Critical illness/disability coverage

Critical illness/disability coverage

Old Jul 11th 2017, 12:42 am
  #1  
Just Joined
Thread Starter
 
Joined: Oct 2016
Location: Abu Dhabi
Posts: 6
ToePick is an unknown quantity at this point
Default Critical illness/disability coverage

Has anyone purchased critical illness and disability insurance while living in the UAE? Are there companies there that offer this? If so, is it difficult to get?

If I were to stay in my home country, I could get excellent coverage but I am unable to get decent coverage while I am outside the country. I need to decide before I leave if I want the coverage they have offered me (which is pathetic) or take a chance and purchase it there... so I am hoping this group can help me out.
ToePick is offline  
Old Jul 11th 2017, 2:27 am
  #2  
BE Forum Addict
 
Joined: Jan 2017
Posts: 2,268
carcajou has a reputation beyond reputecarcajou has a reputation beyond reputecarcajou has a reputation beyond reputecarcajou has a reputation beyond reputecarcajou has a reputation beyond reputecarcajou has a reputation beyond reputecarcajou has a reputation beyond reputecarcajou has a reputation beyond reputecarcajou has a reputation beyond reputecarcajou has a reputation beyond reputecarcajou has a reputation beyond repute
Default Re: Critical illness/disability coverage

There are companies geared towards expats that offer this, as well as things like term life insurance. I did not purchase but if I was in my 40s or 50s, I would.

What is your home country? It helps to know these things to analyse/make comparisons.
carcajou is offline  
Old Jul 11th 2017, 3:15 am
  #3  
Just Joined
Thread Starter
 
Joined: Oct 2016
Location: Abu Dhabi
Posts: 6
ToePick is an unknown quantity at this point
Default Re: Critical illness/disability coverage

Originally Posted by carcajou View Post
There are companies geared towards expats that offer this, as well as things like term life insurance. I did not purchase but if I was in my 40s or 50s, I would.

What is your home country? It helps to know these things to analyse/make comparisons.
Home country is Canada. I already have term life insurance that I'm pleased with.
ToePick is offline  
Old Jul 11th 2017, 3:50 am
  #4  
BE Forum Addict
 
Joined: Jan 2017
Posts: 2,268
carcajou has a reputation beyond reputecarcajou has a reputation beyond reputecarcajou has a reputation beyond reputecarcajou has a reputation beyond reputecarcajou has a reputation beyond reputecarcajou has a reputation beyond reputecarcajou has a reputation beyond reputecarcajou has a reputation beyond reputecarcajou has a reputation beyond reputecarcajou has a reputation beyond reputecarcajou has a reputation beyond repute
Default Re: Critical illness/disability coverage

On your term life, make sure there is no fine print that says you must remain resident in Canada, or that if you are outside Canada for a year or more, the insurance invalidates.

You should be able to find companies targeting expats that suit your requirements. I have looked into it, but some years ago, but can't recall specifics too well. Try the same ones offering term life, I seem to remember they offered those products as well.

Good luck.
carcajou is offline  
Old Jul 11th 2017, 3:55 am
  #5  
Just Joined
Thread Starter
 
Joined: Oct 2016
Location: Abu Dhabi
Posts: 6
ToePick is an unknown quantity at this point
Default Re: Critical illness/disability coverage

Originally Posted by carcajou View Post
On your term life, make sure there is no fine print that says you must remain resident in Canada, or that if you are outside Canada for a year or more, the insurance invalidates.

You should be able to find companies targeting expats that suit your requirements. I have looked into it, but some years ago, but can't recall specifics too well. Try the same ones offering term life, I seem to remember they offered those products as well.

Good luck.
Thank you!
I did purchase the life insurance policy specifically stating I will be outside Canada but I'll check the fine print to make certain I'm covered.
I will look for disability insurance when I arrive.
ToePick is offline  
Old Jul 11th 2017, 5:36 am
  #6  
BE Forum Addict
 
Joined: Jan 2011
Location: Dubai
Posts: 3,439
jam25mack has a reputation beyond reputejam25mack has a reputation beyond reputejam25mack has a reputation beyond reputejam25mack has a reputation beyond reputejam25mack has a reputation beyond reputejam25mack has a reputation beyond reputejam25mack has a reputation beyond reputejam25mack has a reputation beyond reputejam25mack has a reputation beyond reputejam25mack has a reputation beyond reputejam25mack has a reputation beyond repute
Default Re: Critical illness/disability coverage

Friends Provident are advertising such products on the radio at the moment. Not sure of the specifics as I zone out when adverts come on. Dunno if its any good either. Worth a look though.
jam25mack is offline  
Old Jul 11th 2017, 9:12 am
  #7  
BE Forum Addict
 
mission's Avatar
 
Joined: Jul 2008
Location: Dubai
Posts: 2,839
mission has a reputation beyond reputemission has a reputation beyond reputemission has a reputation beyond reputemission has a reputation beyond reputemission has a reputation beyond reputemission has a reputation beyond reputemission has a reputation beyond reputemission has a reputation beyond reputemission has a reputation beyond reputemission has a reputation beyond reputemission has a reputation beyond repute
Default Re: Critical illness/disability coverage

Originally Posted by carcajou View Post
There are companies geared towards expats that offer this, as well as things like term life insurance. I did not purchase but if I was in my 40s or 50s, I would.

What is your home country? It helps to know these things to analyse/make comparisons.
what's 'term life insurance'?
mission is offline  
Old Jul 11th 2017, 9:54 am
  #8  
BE Forum Addict
 
Joined: Jan 2017
Posts: 2,268
carcajou has a reputation beyond reputecarcajou has a reputation beyond reputecarcajou has a reputation beyond reputecarcajou has a reputation beyond reputecarcajou has a reputation beyond reputecarcajou has a reputation beyond reputecarcajou has a reputation beyond reputecarcajou has a reputation beyond reputecarcajou has a reputation beyond reputecarcajou has a reputation beyond reputecarcajou has a reputation beyond repute
Default Re: Critical illness/disability coverage

Term life insurance is life insurance, but only valid for a finite number of years (ie, the "term").

For instance - your standard life insurance policy in Australia is usually valid until you turn 70 or 99, and just automatically rolls over each year as long as you keep paying the premiums. That is not term life insurance.

Your standard life insurance policy is also only valid as long as you are resident in Australia - if you move to the Middle East for than a year, it gets cancelled, and they won't sell life insurance to anyone not resident in Australia.

Therefore, expats in the Middle East need another solution. So banks and insurance brokers sell life insurance that's only valid for 5 or 10 years, not until you turn 70 or 99. That is term life insurance.

You can also usually buy term life insurance in your home markets.
carcajou is offline  
Old Jul 11th 2017, 10:08 am
  #9  
BE Forum Addict
 
mission's Avatar
 
Joined: Jul 2008
Location: Dubai
Posts: 2,839
mission has a reputation beyond reputemission has a reputation beyond reputemission has a reputation beyond reputemission has a reputation beyond reputemission has a reputation beyond reputemission has a reputation beyond reputemission has a reputation beyond reputemission has a reputation beyond reputemission has a reputation beyond reputemission has a reputation beyond reputemission has a reputation beyond repute
Default Re: Critical illness/disability coverage

Originally Posted by carcajou View Post
Term life insurance is life insurance, but only valid for a finite number of years (ie, the "term").

For instance - your standard life insurance policy in Australia is usually valid until you turn 70 or 99, and just automatically rolls over each year as long as you keep paying the premiums. That is not term life insurance.

Your standard life insurance policy is also only valid as long as you are resident in Australia - if you move to the Middle East for than a year, it gets cancelled, and they won't sell life insurance to anyone not resident in Australia.

Therefore, expats in the Middle East need another solution. So banks and insurance brokers sell life insurance that's only valid for 5 or 10 years, not until you turn 70 or 99. That is term life insurance.

You can also usually buy term life insurance in your home markets.
thanks - so does this policy eventually 'mature' and hence you get some kind of lump sum at the end of the number of years the 'term' is for?
mission is offline  
Old Jul 11th 2017, 10:10 am
  #10  
BE Forum Addict
 
Joined: Jan 2017
Posts: 2,268
carcajou has a reputation beyond reputecarcajou has a reputation beyond reputecarcajou has a reputation beyond reputecarcajou has a reputation beyond reputecarcajou has a reputation beyond reputecarcajou has a reputation beyond reputecarcajou has a reputation beyond reputecarcajou has a reputation beyond reputecarcajou has a reputation beyond reputecarcajou has a reputation beyond reputecarcajou has a reputation beyond repute
Default Re: Critical illness/disability coverage

It would depend on the policy - but generally no. It's usually just a short-term solution.
carcajou is offline  
Old Jul 11th 2017, 10:11 am
  #11  
BE Forum Addict
 
mission's Avatar
 
Joined: Jul 2008
Location: Dubai
Posts: 2,839
mission has a reputation beyond reputemission has a reputation beyond reputemission has a reputation beyond reputemission has a reputation beyond reputemission has a reputation beyond reputemission has a reputation beyond reputemission has a reputation beyond reputemission has a reputation beyond reputemission has a reputation beyond reputemission has a reputation beyond reputemission has a reputation beyond repute
Default Re: Critical illness/disability coverage

so it's another form of health insurance?
mission is offline  
Old Jul 11th 2017, 10:12 am
  #12  
BE Forum Addict
 
Joined: Jan 2017
Posts: 2,268
carcajou has a reputation beyond reputecarcajou has a reputation beyond reputecarcajou has a reputation beyond reputecarcajou has a reputation beyond reputecarcajou has a reputation beyond reputecarcajou has a reputation beyond reputecarcajou has a reputation beyond reputecarcajou has a reputation beyond reputecarcajou has a reputation beyond reputecarcajou has a reputation beyond reputecarcajou has a reputation beyond repute
Default Re: Critical illness/disability coverage

PS That kind of policy - called "Return of Premium" term life insurance - has been discontinued in many places, including Australia.
carcajou is offline  
Old Jul 11th 2017, 10:14 am
  #13  
BE Forum Addict
 
Joined: Jan 2017
Posts: 2,268
carcajou has a reputation beyond reputecarcajou has a reputation beyond reputecarcajou has a reputation beyond reputecarcajou has a reputation beyond reputecarcajou has a reputation beyond reputecarcajou has a reputation beyond reputecarcajou has a reputation beyond reputecarcajou has a reputation beyond reputecarcajou has a reputation beyond reputecarcajou has a reputation beyond reputecarcajou has a reputation beyond repute
Default Re: Critical illness/disability coverage

Originally Posted by mission View Post
so it's another form of health insurance?

No - if you have term life insurance (for, say, $500,000) and you die while the policy is in effect, whomever you designated as the beneficiary would get $500,000. They also usually advance a small amount (like $10K to $15K) immediately for funeral expenses.

You can vary coverage amounts and so on.

Some policies, if you are diagnosed with a terminal illness, will pay out in full before you die, if you are expected to pass within a year.
carcajou is offline  
Old Jul 11th 2017, 11:26 am
  #14  
BE Forum Addict
 
mission's Avatar
 
Joined: Jul 2008
Location: Dubai
Posts: 2,839
mission has a reputation beyond reputemission has a reputation beyond reputemission has a reputation beyond reputemission has a reputation beyond reputemission has a reputation beyond reputemission has a reputation beyond reputemission has a reputation beyond reputemission has a reputation beyond reputemission has a reputation beyond reputemission has a reputation beyond reputemission has a reputation beyond repute
Default Re: Critical illness/disability coverage

Originally Posted by carcajou View Post
No - if you have term life insurance (for, say, $500,000) and you die while the policy is in effect, whomever you designated as the beneficiary would get $500,000. They also usually advance a small amount (like $10K to $15K) immediately for funeral expenses.

You can vary coverage amounts and so on.

Some policies, if you are diagnosed with a terminal illness, will pay out in full before you die, if you are expected to pass within a year.
ah i see, thanks.
mission is offline  
Old Jul 12th 2017, 11:39 am
  #15  
Bored liberal
 
Meow's Avatar
 
Joined: Feb 2007
Location: Over there ----->
Posts: 13,704
Meow has a reputation beyond reputeMeow has a reputation beyond reputeMeow has a reputation beyond reputeMeow has a reputation beyond reputeMeow has a reputation beyond reputeMeow has a reputation beyond reputeMeow has a reputation beyond reputeMeow has a reputation beyond reputeMeow has a reputation beyond reputeMeow has a reputation beyond reputeMeow has a reputation beyond repute
Default Re: Critical illness/disability coverage

Originally Posted by ToePick View Post
Has anyone purchased critical illness and disability insurance while living in the UAE? Are there companies there that offer this? If so, is it difficult to get?

If I were to stay in my home country, I could get excellent coverage but I am unable to get decent coverage while I am outside the country. I need to decide before I leave if I want the coverage they have offered me (which is pathetic) or take a chance and purchase it there... so I am hoping this group can help me out.

I advise on and arrange such plans for clients, with a number of international providers, so please drop me a PM if you'd like independent advice (from a qualified and experienced professional).
Meow is offline  

Contact Us - Archive - Advertising - Cookie Policy - Privacy Statement - Terms of Service - Do Not Sell My Personal Information

Copyright © 2018 MH Sub I, LLC dba Internet Brands. All rights reserved. Use of this site indicates your consent to the Terms of Use.