General insurance companies in UAE offer a wide range of insurance policies for their customers to take advantage of, and one of these options is credit insurance. Credit insurance is a form of cover that does not get spoken about as much as life insurance and auto cover and, therefore, a lot of people do not know much about it.
For those who are unaware, credit insurance is a cover that you can buy whenever you take out a loan. It offers protection for both you and the lender in circumstances where you cannot pay the loan back due to unemployment, disability or death. Whenever you take out a loan, credit insurance is sold with it. Sometimes it is built into the loan payment, and so you don’t hear anything about it. In other cases, you have an element control over the credit insurance companies in UAE you work with. However, before purchasing credit insurance, there are a few things you should consider. Firstly, if you have savings or any other assets that would cover your debts in the event of unemployment, death, or disability, then you may not need this type of insurance. You also need to weight up whether it is more cost effective to choose a credit insurance policy, or whether you would be better off going for a disability insurance plan or life insurance. Finally, make sure you read the terms of the policy. You need to know what is not covered by the policy, and, if you lose your job or become disabled, you must be aware of how long you need to wait before the monthly benefit is paid.
No matter whether you are looking for general insurance companies in UAE, for credit insurance, or any other type of insurance, begin your search with Insure4me (http://www.insure4me.ae/). We offer a leading comparison service of insurance companies, ensuring you end up with the best policy.