If you die and leave your family behind, you can’t stop the heartache, but you can make sure that they don”t have financial worries, that they can stay in their home or have enough money to relocate, and that your children can continue their education. Protecting your family in this way, should the worst happen, is one of the kindest things you can ever do for them.
There are various reasons why people don’t take out life cover so in this short article I want to address some of these.
With the spread of COVID-19 around the world, it is no surprise that people have queries about their existing life policies and that we have seen an uplift in applications in recent weeks. People have also been asking specific questions. Is it still possible to get life cover? Will my existing policy cover COVID-19? Will my premiums increase?
In this article I want to give you answers to many of the common questions I am being asked at this time.
The sad and somewhat worrying fact is that anyone can suffer from a serious illness at any time. It doesn’t matter how healthy you feel, and serious illness does not discriminate by gender, age, nationality or income.
Have you considered how you are your family would manage if you were seriously ill, or if your partner became ill and unable to work for an extended period? Not happy thoughts but ones that need to be addressed.
The statistics for serious illnesses in the UAE are significant, even for a relatively young population, when compared to countries with large numbers of retired residents.
Your medical insurance should cover the cost of treatment but it won’t replace an income. That’s where critical illness cover comes in. This is a plan that will pay out a cash lump sum in the event that the policyholder is diagnosed with a serious illness and this insurance is both important and worthwhile.
Consider the statistics for the UAE: