A few clients have contacted me to ask about whether their protection plans, their life insurance policies, are still valid considering the current situation in the UAE, and wider GCC.
In this article I explain the situation and give you some facts. Reassuring facts.
I am currently helping out someone in a tragic situation. Gemma (not her real name) is having to deal with a legal and financial nightmare.
Her husband died in an accident a couple of months ago, leaving her with two young children.
Apparently, they had said in passing that they needed to get their family finances sorted, to get wills and some life insurance, but they never got around to it.
Now she has to deal with the mess left behind and needs to support herself and two children on one income.
It is going to be hard.
But it didn’t need to be this way.
Imagine receiving news that can totally change your life in an instant.
No one knows what is around the corner. No one knows what will go wrong in their life, when illness will hit, when a breadwinner will die.
You can’t know what will go wrong but you can plan for it. You can be prepared for when life takes a wrong turn.
In the past three months alone, I have some across two cases where a parent has become very, very seriously ill. Both in their 40s. Too ill to work, probably not for many years, if they even survive. They have young children.
Now both families are in trouble as they have expenses and no, or significantly reduced, income. The last thing they need is money problems on top of everything else.
You do not want to be in this situation. And you don’t need to be if you take steps now.
I have written about critcal illness cover many times and I am a big believer is protecting yourself as as you never know what is around the corner.
Being seriously ill, whether you get cancer, have a heart attack or a stroke, or one of the many other illnesses covered, can financially derail your life, your plans, and lead to major difficulties in supporting your family.
In this article i just want to give you some facts and general information in visual form.
When you have children, you get lots of advice and tips from everyone but one area that tends to be overlooked is the financial aspect.
In the excitement of impending parenthood, or the crazy first few months – and years – you may never get around to taking some important financial steps. It’s too easy to forget this essential topic so this article is designed to be a useful guide to some of the issues you need to consider.
Multiple surveys have put the cost of raising a child at eye-watering levels over their first 18 years and expats working in the UAE have the added cost of education and medical bills to contend with.
Factor in university or college costs and the fact that many young adults may not be fully financially independent until closer to age 25, and you can see just how important it is to plan sensibly.
Let’s look at some of the financial steps you need to consider.
Whether or not you make formal resolutions at the start of a year, I am willing to bet that you have certain hopes when it comes to your financial situation.
You may dream of retiring at age 55. Perhaps you want to buy a holiday home or an investment property? Do you want to take a year off to travel the world? Maybe you know you need to put a few things in place to get properly organised?
You need to take action to turn these hopes into reality.
Invariably we could all do a little better and a little focus rarely goes amiss. With that in mind here’s a list of 10 steps you can take to get yourself financially fitter in 2024.
Your family is important. Your children are important. When you have dependents and loved ones, you want to make sure that they will be financially okay, no matter what happens.
Have a watch of this short clip to understand why you need to have life insurance.
Wellness is a term that has become very popular in the past few years. We tend to think of it in terms of mental or physical health but it is time we looked at financial wellness.
Simply put, financial wellness is a relative measure of how well a person manages their financial life. We all want to be financially well and this article is about what it means and how you can improve your financial wellness.
It has often been said that “a goal without a plan is just a wish”, meaning that action is required if you want to achieve your goals in life.
We all spend our lives hoping for the best but you need to do something if you are serious about your life goals, specifically your financial life goals. Do you want to retire at age 55? Do you want to buy a holiday home? Do you want spend some years travelling the world? Great ideas but how will you achieve them?
With proper planning you can take action to turn these wishes into reality so read on…
Many of us make New Year resolutions, but how many of those are about our finances? And how many of them do we really keep?
2020 and 2021 have been tough years for large numbers of people and we can’t be sure of what else is in store, but knowing you have taken all the right financial steps will put you in a good position to weather any future storm.
Invariably, we could all do a little better and some focus rarely goes amiss. With that in mind here’s a list of 10 steps you can take to get yourself financially fitter in 2022.