Welcome to Money Mata’s Blog

UAE focussed financial blog, provides actionable tools and ideas for Wealth Accumulation, Insurance and Financial Independence.



See More

Subscribe to Email Updates

Popular Stories

List of Medical Insurance companies in Dubai - Financial Planning in Dubai
How to invest in UAE, using 3 Bucket Investment Approach?
Top 5 Reasons Why I Use Zurich Futura Life Insurance...
Metlife Future Protect Review - Financial Planning in Dubai
Medical Insurance for Parents in Dubai - Financial Planning in Dubai
Written by Money Mata - aka - Damodhar Mata
on April 18, 2016

Critical Illness Insurance helps to protect loss of income; due to major illness like Cancer, Heart Attack, Stroke, Kidney Failure etc..

It is a cash lump-sum paid to the insured on the diagnosis of a critical illness covered by your policy/plan.

What is Critical Illness Insurance?

Unlike medical insurance, which pays for or reimburses the medical bills, Critical illness insurance aims to make good the loss of income, protecting lifestyle and protecting personal and family's financial goals like;

  • Children's Higher Education
  • Children's Marriage
  • Paying off a Mortgage 
  • Early Retirement for Self and or Spouse
  • Immigrating to another/back to home country

Moreover medical insurance covers only till the person is empleyed with the organisation, in the event of loss of job due to major illness, the visa and the medical card are cancelled.

Critical illness insurance comes very handy in such situations.

4 reasons, why you must have critical illness insurance?

  • Helps you protect loss of income when diagnosed with a major illness.
  • Allows you to focus on recoupment from Illness, instead of worrying about bills like rent, school fees etc..
  • Protects your major financial goals like Property investment, Business Startup, Retirement and Children’s Education
  • Keeps you financially independent, even when struggling with major illness

How much cover you must have?

It is recommended to have at least 3 to 5 years of annual income as critical illness insurance.  

It will help you survive in UAE or any other part of the world; without an income when struggling with a major illness like cancer, heart attack etc...

Critical Illness Insurance in UAE

Leading insurance companies in UAE like Zurich Intentional Life, Friends Provident, Metlife, Salama , LIC International and Arab Orient are providing a comprehensive critical illness benefit via two major plan types;

  1. Term Insurance policy
  2. Whole of Life and critical illness policy

The story of Have-nots

Screen Shot 2018-02-20 at 1.23.25 PM.png 80% of UAE residents do not have critical illness insurance.

 A recent survey by UAE’s leading insurance provider, Zurich International Life reveals that 80% of UAE residents do not have critical illness cover...

Are you one of them?

If yes!!!

What are you waiting for?

Do you know that people with diabetes and other pre existing condtions cannot get critical illness insurance at all, even if it is under control?

You can also arrange a free consultation for a comprehensive financial review, to help you protect loss of income and achieve your major financial goals like retirement, children's education etc...

Click Here to Arrange a Free Consultation

Let Us Know What You Thought about this Post.

Put your Comment Below.

You may also like:

Dollar based insurance Life Insurance Critical Illness Insurance Investments

Why NRIs should invest in a Dollar based Life Insurance or Investments in UAE?

When it comes to NRI insurance and investment, many Indians prefer investing back home in India. The challenge with send...

Critical Illness insurance in Dubai Critical Illness Insurance Life Insurance

How to protect loss of income due to Critical Illness? - Financial Planning in Dubai

A major critical illness like Cancer, Heart attack or Stroke can take a long time for recovery, mostly leading to prolon...

Life Insurance Zurich Futura Critical Illness Insurance

5 ways how Zurich Futura can adapt to changing life situations? - Financial Planning in Dubai

Flexibility is a key feature of Zurich Futura insurance policy, enabling it to adapt to your changing life situations. I...