Alliance Life Insurance

Alliance Insurance, established in the UAE in 1975, is a leading insurance provider in the UAE as well as around the world. It offers a comprehensive range of plans with excellent benefits that you can avail of at affordable rates. Alliance life insurance makes for one such offering of the company, with the plans available under the same helping you plan for the financial security of your family.

In the article below, we will cover all the important aspects of Alliance life insurance plans such as their categories, features, additional benefits, supplementary riders, and more.

Types of Plans Under Alliance Life Insurance

The Alliance Insurance Company offers the following life insurance plans in UAE –

1. Anticipated Endowment Platinum

It is a protection and accumulation plan that comes with guaranteed death and survival benefits. Under this plan, the policyholder can receive 3 maturities throughout the plan’s tenure. Moreover, this plan provides sufficient coverage for the family or beneficiaries of the policyholder in case they pass away during the plan term.

Tabled below are the general specifications of this Alliance life insurance plan –

Specifications
Premium currency	UAE Dirhams (AED)·   US Dollars (USD
	· Minimum age of the applicant at entry – 5 years   · Maximum age at entry – 65 years   · Maximum maturity age – 80 years
Policy term	12, 15, 18, 21, 24, and 30 years
Premium payment mode	Monthly, quarterly, half-yearly, and annual
Guaranteed survival benefits	· 25% of sum assured – 1/3rd policy term   · 25% of sum assured – 2/3rd policy term   · 50% of sum assured + accrued terminal bonus at the completion of the tenure of the policy
Death benefit	Sum assured + accrued terminal bonuses
Critical illness cover	· Maximum entry age – 65 years   · Maximum coverage age – 70 years   · Up to 50% of basic Sum Assured can be availed
Premium interruption	· Grace period of 30 days   · Automatic premium loan   · Policy revival period of 2 years   · Surrender option   · Paid up option   · Extended term cover

• Critical illnesses 40
• Family Income Benefit
• Permanent or Partial Total Disability cover
• Passive war benefit
• Trip Accident Benefit
• Waiver of Premium Benefit
• Accidental Dismemberment

2. Endowment Assurance Platinum Plan

It is a special personal protection, savings, and investment plan, with guaranteed death benefits offered to the beneficiaries of the policyholder in the event of the death of the policyholder. Moreover, the policyholder can also get survival benefits if they survive the term of this Alliance life insurance policy. Another notable feature of this plan is that several optional coverage plans are available for the policyholder.

Check out the major features of this plan below:

Specifications
Premium currency	· US Dollars (USD)   · UAE Dirhams (AED)
	· Minimum age at entry: 5 years   · Maximum age at entry: 65 years   · Maximum maturity age: 80 years
Policy term	12, 15, 18, 21, 24, and 30 years
Premium payment mode	Monthly, quarterly, half-yearly, and annual
Guaranteed survival benefits	· 25% of sum assured – 1/3rd policy term   · 25% of sum assured – 2/3rd policy term   · 50% of sum assured + accrued terminal bonus at the end of the policy term
Death benefit	Sum assured + accrued terminal bonuses
Critical illness cover	· Maximum entry age: 65 years   · Maximum coverage age: 70 years   · Up to 50% of the basic Sum Assured can be availed
Premium interruption	· Grace period of 30 days   · Automatic premium loan   · Policy revival period of 2 years   · Surrender option available   · Paid up option   · Extended term cover

Additional benefits of the plan include the following –

• Critical Illness 40
• Accidental death and dismemberment
• Permanent/partial total disability
• Triple accident benefit
• Passive war benefit
• Waiver of premium
• Family income benefit

3. Quantum Four Platinum

Quantum Four Platinum is an investment and protection plan with guaranteed survival and death benefits as well as the freedom to add optional coverage plans. As a policyholder, you can avail of 4 maturities throughout the tenure and excellent returns on your plan, all while having the life coverage of the plan so that you get the best of both investment and financial security of your family.

Listed below are the additional benefits that you can avail of with this plan –

• Critical Illness 40
• Family Income Benefit
• Permanent or Partial Total Disability
• Passive War Benefit
• Trip Accident Benefit
• Waiver of Premium
• Accidental Dismemberment and Death Plan

Specifications
Premium currency	· US Dollars (USD)   · UAE Dirhams (AED)
	· Minimum age at entry: 5 years   · Maximum age at entry: 65 years   · Maximum maturity age: 80 years
Policy term	12, 16, 20, and 24 years
Policy payment terms	Single/Full pay, or pay in 3 or 5 years
Premium payment mode	Monthly, quarterly, half-yearly, and annual
Guaranteed survival benefits	· 15% of sum assured – 1/4th policy term   · 15% of sum assured – 2/4th policy term   · 20% of sum assured – 3/4th policy term   · 50% of sum assured + accrued terminal bonus at the completion of the term of the policy
Death benefit	Sum assured + accrued terminal bonuses
Critical illness cover	· Maximum entry age: 65 years   · Maximum coverage age: 70 years   · Up to 50% of basic sum assured can be availed
Premium interruption	· Grace period of 30 days   · Automatic premium loan   · Policy revival period of 2 years   · Surrender option   · Paid up option   · Extended term cover

4. Child Protection Plan

Availing of the Child Protection Plan is a great choice if you want to ensure proper financial arrangements for your child’s education. This Alliance life insurance plan comes with guaranteed survival and death benefits, and allows you to have sufficient money to complete your child’s education while having adequate life coverage as well.

The following table illustrates how the percentage of sum assured changes with age at death -

Age at death	Sum assured
1 year	20% + Bonus
2 years	40% + Bonus
3 years	60% + Bonus
4 years	80% + Bonus
5 years	100% + Bonus

5. Higher Education Assistance Plan

As the name suggests, the Higher Education Assistance plan is specifically designed to help you prepare for the financial requirements of your child’s higher education. With this plan, you can make small savings over time and have a corpus so you’re your child gets the best higher education.

Besides death benefits and maturity benefits, you can have further coverage by opting for any of the following optional coverage plans –

• Accidental Death Benefits
• Family Income Benefits
• Accidental Dismemberment and Death Plan
• Critical Illness Cover
• Passive War Benefits
• Triple Accident Benefits
• Permanent Total Disability Cover

Check out the following table to find out how the percentage of sum assured changes with age at death –

Age at death	Sum assured
1 year	20% + Bonus
2 years	40% + Bonus
3 years	60% + Bonus
4 years	80% + Bonus
5 years	100% + Bonus

Specifications
Premium currency	· US Dollars (USD)   · UAE Dirhams (AED)
	· Minimum age at entry: 1 year   · Maximum age at entry: 65 years   · Maximum maturity age: 80 years
Policy term	At least 10 years and up to 20 years
Premium payment mode	Monthly, quarterly, half-yearly, and annual
Maturity benefits	On completing the term of the plan, you will receive the basic sum assured along with accrued bonuses in 4 equal instalments

6. Money Builder Plan

In contrast to the previous plans related to children’s education, the Money Builder plan can help you build a good corpus for any future requirement that you deem fit. As a policyholder, you can have a considerable amount over time and enjoy the benefits of life assurance protection.

Keep in mind that you would be required to pay at least USD 2,500 in the form of an annual premium.

The plan offers the following optional coverage –

• Critical illness cover
• Total permanent disability
• Waiver of premium benefit
• Triple accident benefit
• Passive war risk
• Accidental death benefit
• Total permanent disability

7. Optima Gold

The Optima Gold plan is another plan offering a combination of savings, security, and investments. Besides having terminal illness coverage and death benefits, you can easily have funds for your planning related to your child’s education as well as retirement.

You would be required to make a minimum annual contribution of USD 1,500 in premiums.

As a policyholder, you can avail of these benefits –

• Accidental death benefit
• Accidental dismemberment and death
• Triple accident benefit
• Passive war risk
• Family income benefit
• Critical illness cover
• Permanent and total disability cover
• Waiver of premium benefit

8. Suprema

Suprema is a single premium bond plan designed to provide you with high returns on your investment over the insurance plan term, in which you will have life assurance protection and death benefits.

This plan facilitates the growth of your investment via investment in a diverse range of instruments such as fixed deposits, commercial properties, and bonds having good ratings.

As mentioned earlier, Suprema is a single premium bond plan. To get this plan, your single contribution must be at least USD 5,000 as a premium at the start of the plan.

9. Whole Life Limited Assurance Plan

The Whole Life Limited Assurance plan is a great Alliance life insurance product if you want insurance coverage for the whole life and get payouts as well. Notably, you can enjoy worldwide coverage for this plan.

You can get two options under this plan – Level Premium and Limited payment. However, irrespective of the option chosen, you must make a monthly minimum contribution of AED 1,000 in premiums.

You can also avail of the following benefits with this plan –

• Triple accidental death benefit
• Waiver of premium

The guaranteed premium amount remains the same throughout the plan

Specifications
Age limits	· Min entry age: 18 years   · Max entry age: 65 years   · Coverage term: 90 years
Premium payment term	Up to the maturity date of policy
Premium frequency	Monthly, quarterly, semi-annual, or annual contributions
Minimum premium	AED 1,000 for monthly mode
Premium currency	AED and USD only

10. Solidarity – New Joint Life Plan

This Alliance life insurance plan is unique in that it covers the life of two individuals. The plan also allows you to add optional coverage plans.

The plan offers the following optional benefits:

• Accidental death benefit
• Accidental death & dismemberment
• Triple accident benefit
• Temporary or total disablement
• Waiver of premium benefit
• Family income benefit
• Critical illness
• Permanent total disability

11. Personal Accident Insurance

With a Personal Accident insurance plan, the policyholder can be covered against death as well as accidents that can cause serious injuries. With these plans, the policyholder can secure their finances and income during unfavourable situations.

The two types of plans offered under this category include the following –

• Secura – Personal Accident Insurance: The Secura – Personal Accident Insurance includes permanent partial disability and permanent total disability cover. Thus, the policyholder or their beneficiaries would receive benefits in case of the former’s demise as well as disability. The optional benefits available with the plan include level-term life rider and repatriation.
• Total Cover – Personal Accident Insurance: This personal accident insurance plan includes numerous recovery and death benefits. As a result, the policyholder can recover from an injury or illness without worrying about finances.

The total sum insured for this plan is given below:

Death	Serious Illness	Recovery
At least 60% and up to 100% of the total sum insured	30% of the total sum insured at the diagnosis date of serious illness	10% of total sum insured   Recovery benefits directly related to serious illness

12. Group Life

Besides the individual plans discussed above, Alliance also offers a Group Life Insurance plan. Here, you can include multiple individuals in the plan and have them covered under one plan.

This plan is a great option if you want coverage for more than one person and avoid the hassle of getting an individual plan for each.

The optional coverage offered by the plan includes the following –

• Accidental death benefit
• Permanent & total disability (accidental & sickness)
• Critical illness
• Terminal illness
• Repatriation benefits in the case of death only
• Accidental benefits of medical expenses

Key Features of Alliance Life Insurance

Listed below are the general features of the Alliance Life Insurance policies –

• Guaranteed survival benefits when you survive the policy
• Guaranteed death benefits for beneficiaries in case of the policyholder’s demise
• Inclusion of optional coverage plans
• Premiums are payable in UAE Dirhams and US Dollars

Benefits of Buying the Alliance Life Insurance

With an Alliance Life Insurance policy, you may enjoy the following benefits –

• Flexible premium payment options - Alliance life insurance comes with a flexible premium payment option. Depending on your budget and convenience, you can pay the premium on a monthly, quarterly, half-yearly, or annual basis.
• Extended global coverage - With most Alliance life insurance plans, you can avail of global coverage at considerably affordable premiums.
• Loan facility - Some Alliance life insurance plans feature an automatic premium loan facility, where the premium will be paid from the cash value of the plan in case the premium is not paid for a period due to a financial crisis.

Eligibility Criteria

For these plans –

• Anticipated Endowment Platinum
• Endowment Assurance Platinum Plan
• Quantum Four Platinum
• Child Protection Plan
• Higher Education Assistance Plan
• Money Builder Plan
• Optima Gold
• Whole Life Limited Assurance Plan

The minimum age requirement at entry is 5 years, while the maximum limit for the same is 65 years. Similarly, the maximum age allowed at maturity is 80 years. Please note that no age restrictions are applicable on the Suprema plan.

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