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ADCB - Term Life Insurance
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Features: Defined Term Insurance, No Salary Transfer |
Life Insurance:
Life is unpredictable and while we all hope to live a long and healthy life, planning and providing for your family after your death will ensure that they are financially sustainable whatever happens, becomes permanently Totally disabled or is diagnosed with a critical illness . Life insurance is an insurance policy that will pay out an amount of money if the insured person dies.
- Your mortgage?
- Your children’s education?
- You or your family’s bills of day to day expenses?
Term Life Insurance:
Term Life insurance is an insurance cover for a defined term. the amount needed to cover your expenses is calculated, where you make regular premium payments (cost of insurance) in return for the life cover (sum insured). You are protected for as long as your premiums are paid. In the event of the person insured dying during the policy term and while the premiums are being paid, nominated beneficiaries will receive the sum insured. Where the Insured person survives the policy term, the premium payments will cease and the policy expires.
This type of insurance offers high cover values at very affordable cost.
If you are an existing ADCB customer, you can apply for this product in just few clicks through ADCB Personal Internet Banking
Disclaimer:
Insurance Products are made available to clients based on their need analysis and request. Insurance products are underwritten by respective insurance providers and issued subject to their terms and conditions. Abu Dhabi Commercial Bank (ADCB) does not offer insurance advice, nor does it manage, underwrite or issue insurance policies. ADCB is not responsible for rejected applications or claims by any insurance company. Premiums received by ADCB for insurance plans are not bank deposits. Investment products are not bank deposits and are not guaranteed by ADCB. They are subject to investment risks, including possible loss of principal amount invested. Past performance does not guarantee future results. Please refer to ADCB Terms & Conditions for Investment Services. This web-page is for information purposes only and does not constitute an offer or solicitation to purchase investment products.
** Calculator Definitions
Amount:
The total amount of money borrowed, also referred to as the principal amount.
Rate (%):
This is the annual interest rate on the product which is equivalent to APR, which is going to be calculated in this example.
Years:
This is the original term or length of the product, stated in years.
Effective Monthly Payment:
This is the effective monthly payment, which takes into consideration fees and other costs associated with this product. The effective monthly payment is the basis for the APR calculation.
Calculated Annual Percentage Rate (%):
The Calculated Annual Percentage Rate (APR) is determined using the annual interest rate of the product plus fees and other costs. This rate may differ from bank to bank. APR is useful when comparing two or more products with different interest rates and fee structures.
