Insurance Long Term Agreement Template for United Arab Emirates

Create a bespoke document in minutes, or upload and review your own.

4.6 / 5

4.8 / 5

Let's create your Insurance Long Term Agreement

1. Select your governing law and document type:

2. Enter your key requirements:

3. Create your document to edit, review or download

Get your first 2 documents free

Your data doesn't train Genie's AI

You keep IP ownership of your information

Key Requirements PROMPT example:

Insurance Long Term Agreement

"I need a UAE-compliant Insurance Long Term Agreement for a corporate group life insurance policy covering 500+ employees of a construction company, with additional critical illness coverage and annual premium adjustments based on workforce size, to be effective from March 1, 2025."

Document background

The Insurance Long Term Agreement is a specialized contract designed for use in the United Arab Emirates, establishing extended insurance coverage relationships between insurers and policyholders. This document is essential when parties seek to establish insurance coverage extending beyond one year, typically ranging from 5 to 25 years. It must comply with UAE federal insurance laws and regulations, including specific requirements from the Insurance Authority (now part of the Central Bank of UAE). The agreement can be structured for both conventional insurance and Takaful operations, incorporating investment components where applicable. It's particularly vital for life insurance, pension schemes, education savings plans, and other long-term insurance products in the UAE market. The document includes comprehensive details about coverage, premiums, investment mechanisms (if applicable), policyholder rights, claims procedures, and regulatory compliance requirements.

Suggested Sections

1. Parties: Identification of the insurer and policyholder with full legal names and addresses

2. Background: Context of the agreement and brief description of the insurance product being offered

3. Definitions: Detailed definitions of terms used throughout the agreement

4. Scope of Coverage: Detailed description of insurance coverage, benefits, and exclusions

5. Premium Payment Terms: Premium amount, payment frequency, and payment methods

6. Duration and Renewal: Term of the policy, renewal conditions, and continuation provisions

7. Claims Procedure: Process for filing claims, required documentation, and claims settlement procedures

8. Rights and Obligations: Detailed responsibilities and rights of both insurer and policyholder

9. Cancellation and Surrender: Terms for policy cancellation, surrender values, and related procedures

10. Confidentiality: Provisions regarding confidentiality of information and data protection

11. Compliance: Compliance with UAE insurance regulations and anti-money laundering requirements

12. Governing Law and Jurisdiction: Specification of UAE law as governing law and jurisdiction for disputes

13. Notices: Methods and requirements for formal communications between parties

14. General Provisions: Miscellaneous legal provisions including severability and entire agreement clauses

Optional Sections

1. Shariah Compliance: Required for Takaful insurance products, detailing compliance with Islamic principles

2. Investment Components: For unit-linked or investment-linked insurance products, detailing investment mechanisms and options

3. Beneficiary Provisions: Detailed section on beneficiary designation and changes, required for life insurance policies

4. Bonus and Profit Sharing: For participating policies that include profit-sharing mechanisms

5. Policy Loans: Terms and conditions for policy loans, if this feature is offered

6. International Coverage: Required if the policy offers coverage outside the UAE

7. Group Policy Provisions: Required for group insurance policies, detailing member eligibility and administration

Suggested Schedules

1. Schedule A - Coverage Details: Detailed breakdown of coverage amounts, limits, and specific terms

2. Schedule B - Premium Schedule: Detailed premium calculations, including any adjustments or escalations

3. Schedule C - Benefits Table: Comprehensive list of benefits and corresponding amounts/limits

4. Schedule D - Exclusions: Detailed list of exclusions and limitations of coverage

5. Schedule E - Investment Options: For investment-linked policies, details of available investment options

6. Schedule F - Commission Structure: Details of any commission or charges applicable

7. Appendix 1 - Claims Forms: Standard forms and procedures for claims submission

8. Appendix 2 - Privacy Policy: Detailed privacy and data protection policies

9. Appendix 3 - Regulatory Disclosures: Required disclosures under UAE insurance regulations

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co

Relevant legal definitions

Clauses

Relevant Industries

Insurance

Financial Services

Banking

Healthcare

Real Estate

Construction

Manufacturing

Energy

Transportation

Retail

Professional Services

Education

Hospitality

Relevant Teams

Legal

Risk Management

Compliance

Finance

Insurance Operations

Claims Processing

Underwriting

Customer Service

Product Development

Actuarial

Policy Administration

Corporate Treasury

Regulatory Affairs

Relevant Roles

Chief Risk Officer

Insurance Manager

Legal Counsel

Compliance Officer

Chief Financial Officer

Risk Management Director

Insurance Underwriter

Policy Administrator

Claims Manager

Actuarial Manager

Insurance Broker

Corporate Treasury Manager

Benefits Administrator

Insurance Operations Manager

Takaful Operations Manager

Regulatory Compliance Manager

Find the exact document you need

Insurance Introducer Agreement

UAE-governed agreement between an insurance provider and introducer for client referrals, including commission terms and regulatory compliance requirements.

find out more

Easement Indemnity Policy

UAE-governed insurance policy providing indemnity coverage for easement-related risks and disputes on property.

find out more

Insurance Distribution Agreement

UAE-governed agreement between an insurer and distributor establishing terms for insurance product distribution, compliant with UAE Federal Insurance Laws.

find out more

Insurance Pooling Agreement

UAE-governed agreement establishing an insurance pool arrangement between multiple insurers for shared risk and premium management, compliant with UAE federal insurance laws.

find out more

Insurance Addendum

A UAE-compliant legal document modifying an existing insurance policy's terms, conditions, or coverage under CBUAE regulation.

find out more

Gap Indemnity Agreement

A UAE-governed agreement providing protection during the gap between property transaction completion and official registration.

find out more

Fine Print Renters Insurance Agreement

UAE-governed renters insurance agreement outlining coverage terms, claims procedures, and policyholder obligations for rental property occupants.

find out more

Insurance Long Term Agreement

UAE-governed long-term insurance contract detailing coverage terms, premium payments, and policy benefits in compliance with UAE insurance regulations.

find out more

Car Insurance Agreement

A UAE-governed agreement establishing motor vehicle insurance terms and conditions, complying with UAE federal insurance and traffic laws.

find out more

Health Insurance Agreement

UAE-governed health insurance contract establishing coverage terms and conditions in compliance with federal and emirate-level insurance regulations.

find out more

Life Settlement Agreement

A UAE-governed agreement for the sale and transfer of a life insurance policy from the original owner to a third-party purchaser, compliant with UAE federal laws and regulations.

find out more

Download our whitepaper on the future of AI in Legal

By providing your email address you are consenting to our Privacy Notice.

Thank you for downloading our whitepaper. This should arrive in your inbox shortly. In the meantime, why not jump straight to a section that interests you here: https://www.genieai.co/our-research

Oops! Something went wrong while submitting the form.

Genie’s Security Promise

Genie is the safest place to draft. Here’s how we prioritise your privacy and security.

Your documents are private:

We do not train on your data; Genie’s AI improves independently

All data stored on Genie is private to your organisation

Your documents are protected:

Your documents are protected by ultra-secure 256-bit encryption

Our bank-grade security infrastructure undergoes regular external audits

We are ISO27001 certified, so your data is secure

Organizational security

You retain IP ownership of your documents

You have full control over your data and who gets to see it

Innovation in privacy:

Genie partnered with the Computational Privacy Department at Imperial College London

Together, we ran a £1 million research project on privacy and anonymity in legal contracts

Want to know more?

Visit our Trust Centre for more details and real-time security updates.

Read our Privacy Policy.

How a Sales & Marketing Lead uses Genie AI to reduce contract drafting time by 95%

Let's create your Insurance Long Term Agreement

Authors

Alex Denne

Find the exact document you need

Insurance Introducer Agreement

Easement Indemnity Policy

Insurance Distribution Agreement

Insurance Pooling Agreement

Insurance Addendum

Gap Indemnity Agreement

Fine Print Renters Insurance Agreement

Insurance Long Term Agreement

Car Insurance Agreement

Health Insurance Agreement

Life Settlement Agreement

Download our whitepaper on the future of AI in Legal

Genie’s Security Promise

Your documents are private:

Your documents are protected:

Organizational security

Innovation in privacy:

Want to know more?

Commercial

Employment

IP

Administration

Finance

R&D

Use Cases