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7 in 10 UAE expats underinsured on life cover, says new report
Majority of UAE expatriates either have no meaningful life insurance or hold policies too thin to protect their families, according to a deVere Acuma study
- PUBLISHED: Tue 30 Jun 2026, 6:17 AM
Around 70 per cent – seven in 10 – expatriates in the UAE have insufficient life insurance cover, exposing a major financial protection gap among, according to a financial reviews conducted by deVere Acuma over the past 12 months
The study found that approximately 70 per cent of expatriates either had no "meaningful life insurance cover in place” or held policies that were “insufficient” to adequately protect their families financially in the event of death.
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Expatriates account for nearly 85 per cent of the UAE, which boasts one of the highest per capita income in the world. The Gulf country’s poplulation reached stood at 11.67 million as of June 2026, up from 11.34 million last year, according to Worldometer.info.
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The UAE continues to attract record numbers of professionals, entrepreneurs and millionaires, many of whom have increasingly complex financial obligations spanning multiple countries.
The deVere Acuma’s findings emerged from financial planning assessments undertaken with prospective and newly-onboarded clients across the UAE in the last year in which advisers reviewed individuals’ existing protection arrangements against their income, liabilities, family commitments and long-term financial objectives.
Nigel Green, CEO and founder of deVere Group, said the findings reveal a significant disconnect between wealth creation and wealth protection.
“Over the last 12 months, we’ve been struck by how many successful expatriates have spent years building wealth, investing for the future and creating opportunities for their families, yet remain dangerously underprotected,” he said .
“One of the biggest financial planning contradictions we see is that people insure their homes, their cars, and their phones, but fail to adequately insure the income and assets that support their family's entire future,” he added.
“The most expensive insurance policy you'll ever buy is the one you realise you needed after it's too late. Our research over the past year demonstrates that too many expats remain financially exposed, usually without even realising it,” he added.
The UAE’s life and annuity insurance market is valued at $2.54 billion this year and it is expected to surpass $3 billion in 2031, according to Modor Intelligence.
By insurance type, it said, whole life led with 36.12 per cent of UAE life and annuity insurance market share in 2025.
Green pointed out that many expats assume their employer benefits will provide sufficient protection. But in reality, it frequently falls far short of what would actually be required to protect a family's lifestyle and long-term financial security.
Factors
According to deVere Acuma’s analysis, underinsurance among expatriates is being driven by several factors, including overreliance on employer-provided benefits, rising financial commitments, international family obligations and a failure to regularly review existing protection arrangements.
“Multiple properties, international education costs, cross-border investments and overseas dependants all increase the amount of protection that families genuinely require,” he added.
“For too many expatriate families, a financial plan exists to build wealth, but not to protect it. That's a serious vulnerability,” he concluded.
