“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 on 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 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 to make both ends meet, life insurance can supplement your retirement funds and help you lead a dignified life, post-retirement.
The need and type of life insurance change 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.
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