The US company, which has built its reputation on insuring government foreign service workers as they move around the world, opened an office in Dubai in March last year, and has since been building relationships with local brokers.
The new product, Guaranteed Issuance Term Life Insurance, will initially be offered to consumers through brokerage, Globaleye, which is headed by Tim Searle, although Clements said it is planning to roll out the product in due course with a number of other brokerage firms.
The Guaranteed Issuance Term Life Insurance product offers cover for up to $500,000 (£297,341), with no medical test or underwriting, coverage against death as a result of illness, accidents and acts of war and terrorism. It is valid regardless of where in the world the client is.
Christophe Allafranco, head of sales and business development for Clements Worldwide Dubai, said: “Our best-in-class international term life product is specifically designed to offer financial security to the families of expat individuals in MENA who are living and working outside their home country.
“We look forward to bringing additional innovative solutions to our customers via our partners over the coming months.”
Clements Worldwide provides international car, property, life and health insurance, and specialty and high risk cover.
It was founded in 1947 by husband and wife team Robert Clements and Juanita Guess-Clements, the latter of which was employed by the US Department of State. It is through this link the company began offering insurance solutions to international workers of the US Government.
Clements Worldwide now has offices in Washington, London and, more latterly, Dubai.
