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Wealth Builder Plan

Wealth Builder Plan


There is a large work force of expatriates in the Middle East. These people go out of their countries in search of better employment opportunities.

The expatriates work force in the Middle East earns substantially higher than what it would earn in their country. These migrant workers receive, on average, five to eight times of what they would receive from employment in their country.

These expatriates, in essence, care a lot for their families. This is evident from the very fact that they leave behind their families only to provide for a better future for them. They send regular foreign remittances to their families in their country so that they can have a better standard of living and a secure future.

Since the earning level of expatriates is higher, so is their saving capacity. As long as these expatriates remain in the Middle East their families enjoy a high standard of living. However, it has been observed that due to the absence of a disciplined method of saving, these expatriates on their return to their country often find that enough funds are not available to provide for their family’s long term needs such as children’s marriage and education.

The expatriates, thus, need a plan, which not only provides for a disciplined method of saving but also protects their families from the consequences of their untimely death.

The stay of the migrant workers is usually short. Although there are other plans of State Life which provide for a disciplined method of saving, they do not take into account the fact that due to their short stay abroad, these people cannot afford to pay a high amount of premium when they return to their country.

Keeping in view the needs of the expatriates, State Life is proud to present a “WEALTH BUILDER PLAN” where in insurance protection and saving term is twenty years, but the premium paying term is only seven years.

This policy is available in the UAE, in US Dollars and UAE Dirhams and in Kuwait and Saudi Arabia, in US Dollars only. If the policyholder has paid all seven premiums and no further premiums are payable, the plan will continue to participate in State Life’s surplus and earn bonuses. Whether the policyholder stays in the Middle East or returns back to their country, benefits at maturity or earlier death will be payable in US Dollars or UAE Dirhams, as the case may be.

Wealth Builder Plan


Death Benefit

Full Sum Assured plus attached bonuses is payable to the dependants on the death of the Life Assured.
Death of the breadwinner could result in severe financial crisis for the dependants. This amount could provide some financial respite for the bereaved family.

Maturity Benefit

Full Sum Assured plus attached bonuses is payable to the policyholder on the survival to maturity.
This amount could be used for higher education or marriage of children or setting up business.


Premiums are payable under the plan for the first seven (7) years only.
Only yearly mode policies are available.

Admissible Ages And Terms

Both men and women could purchase this plan. The age at entry of the policyholder can range from 20 years to 55 years nearest birthday. The term of the policy is fixed at twenty years.


This is a with-profits plan i.e. the plan would participate in the surplus of State Life. The policy continues to receive bonuses even after the premiums paying term.

The rate of bonuses applicable will be the same as for Endowment Assurance for a term of 20 year.

Supplementary Contract

In order to provide additional protection, premium rates for the following two riders have been specially designed. These premium rates would be payable for seven years only, whereas, protection would extend for entire term of the policy. The Riders available are:

  • Accidental Death Benefit
  • Term Insurance Rider

The maximum entry age allowed under TIR is 50 years and under ADB 40 years. No other supplementary contracts are available under this plan.

Surrender & Loan Value

This plan is a saving cum insurance plan. Therefore, the policy does have a surrender value. Policies issued under this plan will acquire a cash value after at least two full years’ premiums have been paid. The cash surrender value will be quoted on request.

As with all cash value products, a policy loan is available under this plan. The policy loan will be granted by State Life against the policy’s cash value on the written request of the policyholder. The rate of interest and other terms and conditions will be determined by State Life at the time of granting of loan.

Paid Up Values

During the premium paying period of 7 years, the policyholder can convert this plan into a paid-up policy by making a written request. The conditions relating to paid-up conversions are that at least two full years’ premiums must have been paid and no premium be in default.

Automatic Non-Forfeiture Option

The usual “Automatic Premium Loan” and “Automatic Paid-Up” options are also offered under this plan. The automatic option gets activated during the premium paying period of 7 years when the policy has acquired a cash value and a premium remains unpaid beyond the grace period.