Why is Life Insurance Important?

Reading and sharing this short article could save yourself, your family, someone you know or a another family a lot of heartache and stress.

Thinking about life insurance means asking yourself some difficult questions. 

If you were to be diagnosed with a critical illness, disability or worse (pass away), how would you answer the following?

• How would you ensure your family continues to have an adequate income for living expenses, school fees, childcare and bills?
• How would your mortgage get paid?
• How would your children’s school and university fees be paid?
• Would your business survive if you weren’t there?
• How would you pay hospital bills/long term care bills?
• Consider your current lifestyle - how would your financial commitments be affected if you became critically ill, or worse?
• Do you know the difference between medical insurance and Critical Illness Cover?

Life insurance will give your family peace of mind in the midst of a difficult time. It also helps protect you, your family and your business. It provides you with protection that will pay a cash sum if:

• You pass away during the policy term
• You are diagnosed with a critical illness or disability during the course of the term*
• You become totally disabled during the policy term*

*conditions apply

The policy may not pay out when:

• You don’t answer application questions fully and truthfully
• You stop paying your premiums
• In some specific circumstances (eg. participation in way, breach of criminal law)

Already have life insurance?

• If it’s for a mortgage, is it level or decreasing (interest only)?
• If it’s based in your home country, are you covered in the UAE?
• Do you have sufficient cover for your lifestyle, debts and assets?

The numbers below may surprise you:*

50 - Average age for life insurance claimants

48 – Average age for critical illness claimant

45 - Average age for accidental death claimant

41 - Average age for permanent and total disability claimant

42 – Youngest accidental death claimant 

41 – Youngest permanent and total disability claimant

29 – Youngest critical illness claimant

27 – Youngest life insurance claimant

4 – Youngest child critical illness claimant

*Zurich Middle East claims statistics and insights – Jan 2014 – Dec 2016

If you were to suffer a serious illness or worse, the last thing you should worry about is the financial burden. Below is a PARTIAL list of critical illness and disabilities that are covered:

Alzeihmer’s, Dementia, Bacterial meningitis, Benign brain tumour, Blindness, Cancer, Deafness, Heart attack/failure, HIV, Kidney/Liver failure, Loss of limbs, Major organ transplant, Paralysis, Parkinson’s, Stroke, Third degree burns, Traumatic head injury*

*conditions apply

Have a question? Want to learn more? Want a sample life insurance quote?

Feel free to message me or email me at lydiahesse@holbornassets.com