Life Insurance

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“Better to have it for lifetime and not need it, than to need it for a day and not have it.”

In UAE, only health insurance is mandatory, whereas Life Insurance and Critical Illness Cover are not.  Getting life insurance is not only a sentimental decision but also a smart financial one.  With the right policy, you can secure your family’s future.  Life insurance ensures that yourfamily is able to live their lives to the fullest in case of your untimely death.

Life insurance is a type of contract where the insurance company assures to provide a lumpsum payment to the beneficiary or nominee, in the event of death of the insured.  It ensures that your family’s financial future is secure by providing for expenses such as child’s education, ongoing loans and debts.

It is highly advised to get insured at a young age. You don’t burn a hole in the pocket because when you are younger, you are typically healthier and have a longer time horizon to pay premiums.  You can get more benefits at a lesser cost with minimal documentation; it saves you and your family from the devastating effects of an untoward incident.

Different policies offer different options. Life Insurance can be for a particular term or whole life depending one’s specific needs and budget.  Term Insurance helps to overcome the loss of earnings during working years and is less expensive.  Whole life insurance helps preserve the wealth.There are life insurance policies that cover not only your family expenses, but help address business needs too.  For those leading a hale and healthy life, life insurance helps attain a more peaceful post-retired life.   If you find it difficult tomakebothends meet,life insurance can supplement your retirement funds and helpyou lead a dignified life, post-retirement.

The need and type of life insurance changes with age and time and based on finances and obligations.  New Age Insurance Brokers can help you choose the policy best suited to your needs.When you think Life Insurance – Think New Age Insurance Brokers.  Dubai’s leading Life Insurance broker is at your service.

Education Planning

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Inarguably, the best way to prepare yourself or your children for all the challenges that life has to bring is education. Early planning is the only way to ensure that you have given the best gift of college education to your children.

We can help you through the complete process of choosing the right education plan from among the most reputed companies and helping you realize your dream for your little ones.

“College education is expensive – not going to college is more expensive.”

Critical Illness Insurance

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Statistics shows one of three people will contract a serious illness, like cancer or heart attack, before the age of 65. If any such thing were to happen to you while you haven’t prepared for it, the consequences could be catastrophic for you and your family. Let’s show how you can protect yourself against the financial impact of a serious illness and let your savings and your dreams be in tact.

Types of critical illness that are covered under this scheme.

  • Heart Attack
  • Cancer
  • Parkinson’s disease
  • Major Organ Transplant
  • Multiple Sclerosis
  • Any other terminal disease

Retirement Planning

Retirement Planning

“Retired person without money is called an old man, and with money, a gentleman”

Everyone needs to plan for retirement. Every person is unique and so are their needs and aspirations. However, one thing is more or less constant – how to adequately plan for your retirement. The following guidelines will help you plan better for yours and your family’s future.

Earlier the better:

Starting with a proper retirement plan at an early age offers numerous advantages. The earlier your start the smaller the sums of money are needed to be saved towards your retirement pot. The cost of delaying savings in significant because you lose out on compounding interest. Read our blog to learn more about the enormous cost you are paying by delaying savings for even one year.

Plan for the costs:

The cost of retirement can be determined by calculating the likely expenses at retirement in today’s value and the adjusting it with expected inflation rate. Medical emergencies, routine health care costs, vacation to meet friends, relatives and grandchildren are typically the big expenses one needs to account for assuming that housing and transportation are already secured. Expats who work upto 65 years have to calculate and provide for the next 15 to 20 years, post-retirement.

Diversify Investments:

Don’t put all your eggs in one basket, however attractive the scheme may be. Use different strategies and avenues of investment to minimize risk. Investments can be classified as High Risk, Medium and Low Risk. High risk investments have the potential to give high returns, while low risk investments are much safer, but the returns are small. A judicious allocation between all the three categories helps safeguard the investment and get better returns at the same time.

Inflation and Tax Liabilities:

The tax rules vary from country to country. Inflationary trends too. Take these factors into account while going for a retirement plan. The cost of living, inflationary trends and tax structure in your home country have to be factored in.

Service Gratuity – Is it enough?

Too much reliance on service gratuity is fraught with risk such as will the company be around when you retire or will you be let go long before retirement? Even in the best-case scenario, the service gratuity paid by companies and governments for their employees is nominal and only a supplement to one’s own retirement savings.

Long Term vs Short Term:

For retirement planning, long term commitment to savings is important. Short term behavior such as withdrawing funds to book immediate returns can be tempting. However, keeping money invested in long term is wise, even if your retirement pot takes a temporary hit due to market fluctuations.

Our advisors can help you plan for your financial requirements after retirement; e-mail us at info@newageib.com for more info.

Medical Insurance

In today’s world, medical costs are on the rise and absence of a right medical plan could have a devastating effect on your finances.

Choosing the plan that suits your need and budget could be very challenging. With our in-depth knowledge of medical plans and our association with leading product providers, we are in a unique position to choose the right plan which will take care of you and your loved ones in those difficult times.

Personal Accident Cover

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Future is always unpredictable, but the best way to face such uncertainties is prepare for them in advance.

Major accident or long-term illness can be devastating both emotionally and financially.

Our team of insurance experts offer you economical solutions to ensure you have replacement income during such an unfortunate situation.

Motor Insurance

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We can offer you competitive prices for your vehicles from reputed local and international companies, backed by excellent after-sale service.

House and Mortgage Insurance

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The most prized worldly possession anyone can ever have is a beautiful home. Whether it’s a home in the suburbs, an apartment in downtown or a villa facing the sandy beaches; at New Age we invite you to set your sights on your dream house and we will help you arrange cover for your mortgage needs.

Travel Insurance

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A holiday is fun unless the experience gets nasty with the loss or damage to your luggage, unanticipated medical expenses or getting stuck at the airport. Hold on to the fun part of the holiday and let the travel insurance coverage take care of the rest. Say hello to a worry-free traveling experience.