The Abu Dhabi National Insurance Company (ADNIC) has introduced a new life insurance offering that provides coverage for UAE nationals up to the age of 95. The initiative, developed in collaboration with the Sheikh Zayed Housing Program (SZHP), marks a significant expansion in insurance accessibility and support for Emiratis seeking housing finance later in life.
Extending Financial Protection Beyond Industry Norms
Under the new scheme, Emiratis aged up to 70 can now qualify for housing loans with repayment terms of up to 25 years—made possible by the extended insurance coverage that runs until the age of 95. This is a notable shift from the prevailing market cap of 70 years for life insurance policies, and it addresses a key gap for older citizens looking to access long-term financial services.
The housing loans are administered through various leading local banks that have been core partners of the SZHP since its inception. By removing insurance-related age limitations, the scheme enables broader access to housing finance and contributes to increased economic empowerment for ageing populations.
ADNIC Reaffirms Community-Focused Commitment
Commenting on the launch, Charalampos Mylonas, Chief Executive Officer of ADNIC, said:
“As an insurer working at the very heart of the community, we understand why life insurance is so important as it guarantees families a measure of protection against the adverse financial consequences.
As such, we’re proud to work alongside the Sheikh Zayed Housing Program to give individuals a greater sense of economic security and peace of mind. At ADNIC, our commitment remains to make insurance truly about people by protecting their income, assets, health, and lives.”
Program Now Active Through Partner Banks
While the initiative is already operational via participating banks, the official announcement was made during a signing ceremony, solidifying the partnership between ADNIC and SZHP. The launch reflects ADNIC’s broader strategy to innovate its offerings while aligning with national housing and financial inclusion goals.
By enabling life insurance coverage to span an unprecedented age range, ADNIC is setting a new benchmark for inclusive financial services in the UAE.
