UAE ministry signs agreement to expand insurance coverage for housing loan beneficiaries

Ministry of Energy and Infrastructure has signed a new agreement to provide extended insurance coverage for housing loan beneficiaries, in a move aimed at strengthening support for citizens and improving access to financing.

The agreement, signed through the Sheikh Zayed Housing Programme, is with Sukoon Takaful and focuses on offering a wider insurance protection system for beneficiaries.

Officials said the move builds on earlier efforts to develop the housing finance system and supports long-term sustainability.

Extended coverage

Under the agreement, insurance coverage will now extend up to the age of 95, providing longer-term protection for beneficiaries.

The coverage includes cases such as death or total permanent disability, helping reduce financial risks and making it easier for citizens to access housing loans.

Officials said the step is expected to support more groups, especially senior citizens, who may have previously faced challenges in securing financing.

Integrated system

The agreement forms part of a broader housing finance system that brings together government, financial and insurance entities.

This approach aims to provide more flexible and sustainable solutions, while improving access to housing support.

Eng. Mohammed Al Mansoori, Undersecretary at the Ministry, said the agreement represents an important step in developing the housing sector.

“This reflects our focus on providing integrated solutions that meet the needs of different segments of society,” he said.

He added that offering flexible insurance coverage gives beneficiaries more confidence in their long-term housing stability.

Supporting citizens

Officials said the initiative highlights the government’s commitment to supporting citizens at different stages of life, particularly retirees and senior citizens.

They added that partnerships with the financial and insurance sectors play a key role in building a strong housing system that can adapt to changing needs.

The ministry said it will continue to introduce initiatives aimed at improving access to housing support and enhancing quality of life.

Officials noted that such steps help strengthen family stability while supporting the UAE’s wider development goals.