Licensed by CBUAE

Life Insurance licensed by the Central Bank of UAE


Ask the important question first.

All insurance companies in the UAE should be approved and regulated by the Central Bank Of UAE (CBUAE). Being the national insurance regulatory authority, CBUAE makes sure that all insurance companies approved by them, follow industry best practices and offer you complete transparency. Life insurance regulation also ensures that policyholder protection rules are upheld and implemented where necessary, in a fair and transparent manner.

Which is why, Zurich urges you to only buy insurance products that follow the insurance regulatory laws of UAE. Always remember to ask the most important question first to your financial broker or advisor before purchasing any life insurance in the UAE - “Is my insurance policy approved by the CBUAE?”


1. Know the benefits of buying insurance that is approved by the CBUAE.

Insurance companies are regulated by the Central Bank of UAE in this country and approved insurance companies come with a lot of benefits. CBUAE will ensure the following:

  • Licensed life insurance providers who are fair and transparent in their dealings.
  • Transparency in fees and charges
  • Access to safe and secure insurance products that cover risks with appropriate insurance premiums.
  • Standardized insurance policies and products which continuously undergo enhancements and checks.
  • Option to issue official complaints against the insurance provider within the UAE.
  • 360° consumer protection against insurance frauds or unscrupulous agents.


2. Buying life insurance that is not approved by the CBUAE? Find out how it impacts you.

When you buy life insurance products from unapproved insurance providers, you may find it difficult to settle policy-related issues in the UAE. The issues you could face are many:

  • Have no transparency on fees or charges.
  • Inability to lodge any official complaint against the insurance provider.
  • Risk paying above-standard insurance rates for substandard products. 
  • Cannot enforce the insurance policy and obtain best rates. 
  • Get exposed to insurance frauds via unscrupulous agents.
  • Have no legal right to consumer protection and insurance best practices.


3. Don’t be swayed by big names. Ask the right questions.

If your insurance-buying decision is influenced by familiar names from back home, think again. Many of the big names from your home country are probably not approved by the Central Bank of the UAE. They might be selling insurance in the UAE, but if they are not approved by the insurance regulatory development authority, you could face difficulty settling policy-related disputes or insurance frauds within the UAE.

Since the Central Bank of UAE or CBUAE is the only insurance regulatory development authority for UAE’s insurance sector, your first question to your financial broker or advisor should always be, “Is my insurance policy approved by the CBUAE?”