Thinking Long-term on Insurance in UAE

Many people don’t realize the long-term benefits of an insurance policy in UAE until it’s too late. A host of insurance policies turn a savior during critical times in life or in business. In this piece, I elucidate why thinking long-term on insurance is to your benefit.

Over the years, lifestyle trends have changed undoubtedly. People marry and have kids late and that’s why educational or home loans spill over to the retirement phase. Even if you’ve lost your job or retired, the responsibilities towards your loved ones never cease. From taking care of their basic needs to funding their education and marriage, whereas their future is to be secured even in your absence.

If you have been procrastinating your decision to buy insurance, it’s time to assess your situation and devise a financial plan. Here are examples of how varied insurance policies help you tide over all the challenges life throws your way.

Life insurance policy in UAE

Uncertainty is an inevitable part of life, and you never know when lives can be cut short. The last thing you want is your family to drown in a well of troubles, being pestered for clearance of loans or debts.

A safeguard against uncertainties, life insurance is designed to support your dependents to stand back on their feet again even after your passing away. That’s why it’s also known as love insurance because it protects your family in your absence.  The death benefit pay-out helps pay for future expenses and clear off liabilities. All you need to do is choose between the two main types of insurance –term or whole life insurance. While the former offers coverage for a specific period, the latter offers lifetime coverage; hence it is termed as universal life insurance.

Long-term care insurance policy in UAE

As age catches on us, at some point we would need permanent assisted medical care. Serious health ailments and disabilities (Dementia, Alzheimer’s, or Parkinson’s) can rob our freedom of going about daily life activities.  The sad part is most of us don’t plan for the phase of growing older and unwillingly turn a burden on our children or relatives for long-term care.

If you want to live a dignified life in old age you need to insure those feeble days. Long-term care insurance policy in UAE is designed to help you afford assisted care either at home or in a nursing facility. As a hybrid insurance, it links life insurance with a long-term care policy and relieves you of the burden of paying enormous bills, while also helping you age with grace. All you need to do is select the right insurance plan to cover your medical costs whilst protecting your legacy.

Insurance Policy in UAE for business 

If you are an entrepreneur, you very well know that businesses can get caught in unexpected situations. The financial consequences of a potential mishap can easily wipe out the assets of a small business.

This is where general liability insurance offers coverage for property damage. A third-party liability claims and lawsuits while keeping business earnings intact. Most businesses start with liability insurance and gradually upgrade to include commercial property insurance, workers compensations and professional liability coverage.

Insurance- A need of the hour

The earlier you obtain insurance policy in UAE, the longer you’ll enjoy a host of benefits. Purchasing the right long-term insurance policies is highly beneficial to you. It can save you from reaching a helpless point in life. It saves your dear ones from the agony of endless struggles.

As experienced insurance brokers in UAE, we can help evaluate your financial situation to choose a mix of insurance plans to secure the future of you and your loved ones. 

Drop us a message or email hello@insurancepolicy.ae