4 important reasons why you need life insurance in uae

Practically speaking, no one wants to die early, but the sad truth of life is that people die sooner or later.

The most important question is, “What will happen to your family and how will they manage in your absence?

All your dreams, plans, and goals you had for your family may be compromised or worse left unrealized.

A Simple life insurance can address this serious concern and ensure peace of mind that your family’s finances are secure in the event of early death.

The dreams and goals you had for your family can still come true. You can still be contributing to your family’s welfare, despite not being around.

You will always be remembered as a loving husband, a caring father, a dedicated son and a responsible human being!

The following four important reasons why you need life insurance in UAE?

There is life after death — your family lives on. 

“You don’t buy life insurance because you are going to die, but because those you love are going to live.” - Unknown.

Think about Rent, Groceries, School / Collge Fees, Medical expenses and Inflation. How will your family manage all this without your income?

Can they continue to live in the UAE after you? Or will they be forced to repatriate back home to start from scratch?

How easy or difficult will it be to move schools mid-year or just before crucial board exams?

Will your spouse be able to secure employment back home? Will they be able to focus at work and home as a single parent?

Buying adequate life insurance in UAE can ease many such concerns, providing your family with the needed funds to sustain in the UAE as long as necessary.

If and when they have to move back home, it can help them start a new life without financial stress.

Your Debt should not outlive you!

Think about your mortgage, personal loan, and/or your  business loan. Do you have enough savings to pay off these loans? 

In the unfortunate event of early death as an expat, your bank will deduct these loans from your current/savings account and end of service benefits. 

Do you want your family to pay your loans after you are dead? Is it fair to leave your burdens on your spouse and children?

Even if you have adequate savings to cover the loans, paying them off at death could leave very little money for your family.

Life insurance is cost-effective and tax-efficient

Contrary to popular belief, Life Insurance is affordable and tax-efficient. In UAE, you can buy a life insurance plan for as low as AED 65.

With the regulatory changes brought in October 2020, life and critical illness policies have become more affordable in the UAE

Proceeds of life insurnace are usually tax free in many countries. Please check with your tax advisor on how life insurance proceeds are taxed in your country. 

It is the only thing you can buy on an instalment plan, and your family won’t have to finish the payments in your absence.

Life Insurance is the easiest and the most affordable way to create a legacy that can impact the lives of one or more generations. 

Please don’t wait, don’t overthink, schedule a free discovery call to understand how you can protect your family’s financial future.

Bear in mind, whatever excuse you may now have for not buying life insurance now will only sound ridiculous to your widow.