Since you are not aware about what will happen in the very next moment, it can leave you hesitant sometimes to take some important decisions in life especially when it is some kind of financial decision in which your family is involved. Here, life insurance plays an important role. It is a great tool that provides a financial aid to your family during crucial times, when you are not around. The beneficiary of your policy will be given a predetermined amount of money in the event of your death. You must hire an insurance broker in Abu Dhabi to get the best kind of insurance policy.
Although the insurance brokers in Abu Dhabi would simplify the process of applying for life insurance here, but read on further to get a summary of steps that are required for a life insurance:
- Compare the policy rates: make sure to compare the rates of the life insurance policies of different companies, before settling for one. Work with your broker who will bring forward different types of insurance policies from different companies and will suggest you to choose the most appropriate one.
- Application process: after you select the policy, proceed with the application form which will take around 20 minutes to fill it.it usually includes some basic questions about your health and beneficiary.
- Medical examination: as soon as you fill in the life insurance application form, medical exams will be scheduled at your convenience. A nurse from the company will visit your home for checking your weight and B.P. Your blood and urine sample wiil also be taken for lab testing and some basic health related questions will also be asked.
- Underwriting: in this step your application would be reviewed, your medical and personal history will be assessed by the insurance company where you applied this procedure will take around a month. It will be figured out whether the policy you applied for is appropriate for you or you deserve a better one.
- Decision: after completion of underwriting process, the company will either send their personal insurance agent or will send the decided policy through the insurance broker you hired. The policy type you get depend upon your health, lifestyle and family history.
One of the best insurance broker firms in UAE is PIBCo. The expert brokers here will help you in applying for the most appropriate policy type that will fit your requirements.