Universal Life Insurance Saudi Arabia

To receive a quote for universal life insurance in Saudi Arabia, please provide us with the following information:

• your age
• gender
• smoker status
• the amount of life coverage you require
• your country of residence
• your email address

Once we receive this information, we will be able to provide you with a quote within 24 hours. To get started, simply reach out to us using the contact form at the bottom of this page. We look forward to assisting you with your life insurance needs

Yes, Saudi residents can invest in indexed universal life insurance, also known as IUL. An IUL can supplement retirement income and estate planning needs.

1. Indexed universal life insurance
2. Whole life insurance
3. Variable universal life

All the policies supplied to Saudi Arabian wealth managers by Capital for Life are single-life policies. We do not offer joint life second death policies or survivorshp policies.

Some life insurance companies offer universal life insurance to Saudi Arabian residents with no medical. But if you want life insurance coverage of $5m or more, you will need a medical. Capital for Life Saudi Arabia has an approved list of medical clinics in Riyadh and Jeddah that high net worth clients can attend.

You can borrow against the cash value of your life insurance policy if you are a Saudi resident. Loans secured against your life policy typically have lower interest rates because you are using the policy as collateral. You can either take the policy to a Saudi private bank to borrow money and pledge it as collateral, or take a loan directly from the insurance company itself.

Popular reasons why Saudi residents take a life insurance policy loan are to:

• Buy property overseas in places like London and Paris.
• Invest in equities and bonds with the expectation of a higher return.
• Provide short term liquidity for a Saudi business venture.

Yes, Saudi Arabian residents can obtain financing for their universal life insurance policy. This premium financing can be for up to 100% of the policy's cash surrender value and is subject to underwriting. However, it's important to note that this financing strategy may not be suitable for all types of Saudi financial planning and it's recommended to consult with a tax adviser before proceeding. Capital for Life can make a suitable introduction upon request.

Universal life cover with a death benefit from $1m upwards can be bought by a Saudi Arabian high-net-worth resident.

Yes, you can use Capital for Life for all your international life insurance and financing solutions. We partner with Saudi Arabian bankers and wealth managers who want to use our solutions with their high-net-worth private clients.

Yes, Capital for Life serves high-net-worth clients across Saudi Arabia and can assist with finding a suitable universal life insurance policy. Our team works with global partners and professional advisers to design a solution that meets the specific needs of each client. While we do not offer advice on specific universal life insurance products, we are dedicated to helping our Saudi based clients find the coverage they need. Contact us today to learn more about the universal life insurance options available to high net worth individuals in The Kingdom of Saudi Arabia.

Universal life insurance (ULI) quotes are available in most countries in the Middle East region. Some examples of countries where you can get a universal life insurance quote include:

• United Arab Emirates

It is worth noting that the availability and terms of universal life insurance may vary across countries in the Middle East. It is recommended that you speak with an insurance professional at Capital for Life to learn about the specific options available in the country where you live.

Learn more about universal life cover across Australasia from Capital for Life

Capital for Life offers universal life insurance services in Saudi Arabia. Our services include policy comparison, cost calculation, and understanding policy features to find the best fit for your client. We also provide tax advisory, trustee, and premium financing services to ensure correct ownership and financing of the policy. Contact us for more information on our universal life insurance options across The Kingdom of Saudi Arabia.

According to data published by the World Health Organisation (WHO) in 2020, the average life expectancy in Saudi Arabia is XX years. Male life expectancy in Saudi Arabia is 73 years, while female life expectancy is 74 years. Saudi Arabia ranks 84th in the world for life expectancy. These statistics are based on the latest available data and are subject to change over time.

Life expectancy for Saudi Arabia is an important factor for life insurance companies when determining the premium rates for their policies issued to Saudi Arabian residents. A person's life expectancy plays a role in calculating the risk level associated with insuring them, as the longer a person is expected to live, the more likely they are to make a claim on their policy. As a result, life insurance premiums are typically lower for individuals with a higher life expectancy and higher for those with a shorter life expectancy. By understanding the average life expectancy in The Kingdom of Saudi Arabia, life insurance companies can better evaluate the risk associated with offering coverage to residents of Saudi and adjust their premiums accordingly. Sauidi Arabia is classed as an 'A' risk rated country by many international life insurers meaning it is deemed a high life expectancy country.

Life insurance companies in Saudi Arabia 2023

1. Tawuniya Cooperative Insurance Company
2. Bupa Arabia for Cooperative Insurance
3. Medgulf Cooperative Insurance Company
4. Saudi United Cooperative Insurance (Walaa)
5. ACIG Arabian Shield Cooperative Insurance Company
6. Saudi Arabian Cooperative Insurance (SAICO)
7. Aljazira Takaful Taawuni Company
8. Malath Cooperative Insurance & Reinsurance
9. SABB Takaful Company
10. Al Rajhi Company for Cooperative Insurance (Al Rajhi Takaful)