Importance of protection
Can you afford not to be protected?
Life insurance is the cornerstone of any robust financial planning. It can protect your family, your home and your business against your premature death. Life insurance can support those you leave behind, so your children can complete their education for example, even if you are not around to celebrate their graduation with them. Depending on your situation, the proceeds of a life insurance policy can be used to discharge a mortgage or other debts, pay for repatriation costs and funeral expenses as well as any income or estate taxes.
Critical illness insurance complements life insurance and ensures you have resources available to help with recovery from a serious illness, or to make life more bearable if you are diagnosed with one of more from a wide range of serious illnesses. It can also cover loss of earnings if you are unable to work and the costs associated with any other major disruption to your life.
You should consider the financial implications for your family if you were to die or suffer a serious illness, especially if you are the breadwinner.
Serious illnesses are on the rise in the UAE however - according to our research* - less than half of the UAE's population have life insurance and less than a quarter are protected against the effects of a serious illness.
In this video, Chris Divito, Managing Director Middle East and Africa, talks about the importance of having protection, covers some of the key findings from our research and highlights some areas of concern.
*Research conducted by YouGov. 1003 UAE residents surveyed between 16 and 22 July 2018