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UAE extends housing loan age limit to 95 years with life insurance for senior citizens
It addresses the previous challenges where the maximum loan coverage age was limited to 70 years, which led to the rejection of some financing applications from senior citizens
- PUBLISHED: Wed 9 Jul 2025, 4:42 PM
The Ministry of Energy and Infrastructure on Wednesday, July 9, extended the loan coverage age to 95 years, providing comprehensive life insurance protection for housing loans, with a particular focus on supporting senior citizens.
The Initiative offers special insurance coverage for housing loans to enhance stability of Emirati families, covers both current and future loans at low cost.
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Represented by the Sheikh Zayed Housing Programme, the initiative aims to provide life insurance coverage that fully secures the value of housing loans, addressing previous challenges where the maximum loan coverage age was limited to 70 years, which led to the rejection of some financing applications from senior citizens.
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Under the new programme, insurance coverage has been extended to age 95, marking a significant policy shift that opens broader opportunities for senior citizens to benefit from housing support while enhancing social equity and reducing rejection rates caused by insurance or financing constraints.
The insurance covers cases of death or total permanent disability, whether due to accidents or other causes, providing long-term financial protection for Emirati families.
Suhail Al Mazrouei, Minister of Energy and Infrastructure, affirmed that the initiative aligns with the leadership’s directives to enhance the stability of Emirati families and ensure a decent life for all segments of society.
“Our wise leadership places the comfort and happiness of citizens at the forefront of its priorities. This initiative reflects the UAE’s firm commitment to providing adequate housing as a cornerstone of comprehensive development,” Al Mazrouei said.
“It represents a significant step in supporting senior citizens, as it is designed to address the challenges related to housing finance for this group, thereby improving their quality of life and contributing to family stability,” he added.
Al Mazrouei praised the collaboration with the banking sector and national insurance companies, noting that it reflects the UAE’s strategic vision of building sustainable partnerships that support social and economic development. He commended the ongoing efforts to develop the housing system in the UAE into a global model.
Mohamed Al Mansouri, Director General of Sheikh Zayed Housing Program, affirmed that the initiative embodies the leadership’s forward-looking vision to empower Emirati families and strengthen their social stability.
“Through this initiative, the program aims to provide flexible financing solutions that meet the needs of senior citizens, while ensuring comprehensive insurance coverage to protect them from financial risks,” Al Mansouri explained.
He pointed out that raising the maximum loan coverage age to 95 years marks a qualitative shift in housing policy, opening broader opportunities to benefit from housing support and enhancing social equity.
In line with the initiative, the Central Bank of the UAE has issued a new regulatory notice allowing banks and financing companies to adopt more flexible financing models.
The notice also permits financing for citizens with existing mortgages, provided that the new property serves as their primary and actual place of residence.
Citizens benefiting from the national loan programme are included after verifying their repayment capability, which enhances the inclusiveness of the initiative and ensures fairness in the distribution of housing support.
The Ministry is implementing the initiative in collaboration with the Central Bank of the UAE, financing partners, and Takaful service providers, along with a wide range of national insurance companies, including Sukoon Takaful and Abu Dhabi National Insurance Company (ADNIC).
This initiative is part of a series of achievements by the Sheikh Zayed Housing Programme, reflecting the UAE’s commitment to enhancing the quality of life for its citizens.
In recent years, the programme has undergone strategic developments that accelerated the housing support process, improved customer satisfaction, and expanded partnerships with the banking and financial sectors.
Ruqayya Alqaydi is a Special Correspondent with an endless curiosity to learn. Like a journalist on a caffeine overdrive, she is fuelled by passion and on a mission to uncover every gem in the UAE.