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.
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.
Winston Churchill is a towering figure in British political history but was also an orator and writer. What I want to focus on is a quote that is relevant to most of our lives, even now, over 100 years after he said them: