The company said the DTA will complement the coverage offered by the existing plan, which includes life, critical illness, life or earlier critical illness and total and permanent disability benefit.
It added that it will provide a solution to customers that have a protection requirement which will reduce over time, such as a mortgage.
In a DTA plan, the sum insured reduces in line with the balance outstanding on a mortgage or a loan. This is designed to clear the balance if the customer falls seriously ill or dies before the amount borrowed is fully repaid.
International Protector Middle East is available exclusively through financial advisers holding business with FPI and its bank distribution partners.
FPI’s general manager, Middle East and Africa, Matthew Waterfield, said: “With the currently buoyant housing market in the UAE, the introduction of DTA is very timely.
“The vast majority of banks in the region require their mortgage customers to have life and or critical illness insurance in place as a condition of the loan and DTA is an extremely cost effective way of meeting this requirement.”
Earlier this month, FPI launched a trust offering flexible encashment and contribution options with tax mitigation benefits.
The Flexible Future Benefit Trust is aimed at both retirees and those saving for retirement, and presents a useful tool for advisers seeking to help clients plan for future eventualities.
Irvine Baxter, UK regional sales director at FPI said: “The Flexible Future Benefit Trust offers flexibility unrivalled by other trusts in the market place and meets the needs of the growing number of people affected by inheritance tax and the reduction in the pensions annual and lifetime allowances. It will appeal to those planning for retirement as well as those now enjoying it.
FPI provides life assurance, pensions and investment products for Asia, Middle East, Europe, UK as well as other markets. It has offices in United Arab Emirates, Hong Kong, Singapore and the Isle of Man, and employs over 400 staff worldwide.
