Is life insurance required to secure a mortgage in UAE?

Yes, obtaining a mortgage requires mandatory life insurance to protect the lender's investment. Usually, banks will insist that you purchase their own life insurance policy as a condition for the mortgage.

However, there are opportunities to save on costs, as some banks allow you to use an external life insurance policy instead. By utilizing these exclusive deals, you could potentially save around 50% compared to the bank's in-house policy. This flexibility can make a significant difference in your overall mortgage expenses.