Is life insurance necessary for a mortgage in the UAE?

Yes, life insurance is typically required when securing a mortgage in the UAE to safeguard the lender’s investment. Most banks will require you to purchase their life insurance policy as part of the mortgage conditions.
However, some banks offer the option to use an external life insurance provider, which can lead to significant savings. By opting for an external policy, you could save up to 50% compared to the bank’s in-house insurance, helping reduce your overall mortgage costs.