4 reasons, Why you need Critical Illness Insurance in UAE? - Financial Planning in Dubai

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18-Apr-2016 14:50:00
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Critical Illness Insurance helps to protect loss of income; due to a major illness like Cancer, Heart Attack, Stroke, Kidney Failure...

Unlike medical insurance, Critical illness insurance pays a cash lump sum on diagnosis of an illness covered by your policy. You may use this cash lump sum at your discretion. 

What is Critical Illness Insurance?

Typically people use the critical illness claim proceeds to pay for the following;

  • Living expenses until the insured is fully recovered and can get back to work
  • 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 until the person is employed with the organisation. In the event of a job-loss, the visa and the medical card are cancelled.

Critical illness insurance can be very useful in such situations.

Four 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 significant financial goals like Retirement and Children’s Education, Property investment, Business Startup etc.,
  • 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 dreaded disease 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. The whole of life and critical illness policy

The story of Have-nots

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 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 you can buy a critical illness plan for as low as AED100 per month?

Contact me now to avail the best critical illness protection plan. You can also arrange a free consultation for a comprehensive financial review.

Click Here to Arrange a Free Consultation

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