25% of claims paid by Zurich were from policies issued within just three years of inception.
What's even more concerning is that 85% of these claimants had no prior medical history or existing ailments.
Source - Benefits Paid report 2023 - Zurich Middle East
Pause for a moment...
And imagine the dire consequences if they had postponed their decision to purchase a policy for another year or two.
The outcome could have been devastating.
Fortunately, these claimants had the foresight to make a wise choice early on.
What about you?
Do you have adequate life/critical illness insurance?
If not, what are you waiting for?
If you wait too long, you may find that you cannot get a policy or that the insurance cost is too high because of your age or health status.
If you have dependents, it's important to buy life insurance now.
You may think otherwise, but you never know what the future holds.
And if something does happen, you'll have the peace of mind of knowing that your loved ones will be taken care of financially.
The best time to buy life insurance was when you were 18. The next best time is now.
Talk to a financial advisor to determine how much coverage you must ideally have. Take into account your family's lifestyle, goals, and aspirations, and most importantly, provide for inflation.
Compare different types of policies and providers. Understand the features, benefits, and costs.
Read the terms and conditions to understand the scope & limitations.
Avoid the six silly mistakes when buying life insurance
Nominate both primary and contingent beneficiaries on the plan.
Review your protection needs every 3 - 5 years or when a major life event like promotion, marriage, child Birth, or immigration happens.
Act now - Don't delay buying life insurance.
Click here to schedule a no-cost discovery call to learn more.