Have you ever heard the expression “family first”? Well, when it comes to priorities, we’re sure it’s at the top of your list and whether your family is near or far, big or small, you probably see it as a “safe space” in which to be yourself and share your hopes, dreams and plans for the future.

It’s no wonder then that we are passionate about protecting our families. However, when it comes to family and finances are we equally passionate and proactive in our protection? Talking about money and the future can be difficult for a number of reasons. Take Life insurance, for example. It can still be somewhat of a “sensitive” subject, since at its core, is the objective of providing funds after death of a loved one. Thinking about such things can be uncomfortable, but it needn’t be the case if handled in the right way.

We’d always recommend addressing the purchase of a Life plan as soon as possible: making it part of a family discussion to consider everyone’s needs, wants and goals. Engaging everyone in the process means you ensure that they are all represented, well-provided for, and most importantly, made aware of what the cover offers and how it works, reducing any potential for stress or distress later.

Life Insurance plans cover much more than death benefits, although of course that is often the key consideration. For example, did you know that a Term Assurance policy can be purchased for a specified period of time to cover a specific need or goal, like protecting a home loan or auto financing, for example. And plans with savings and investment elements can be set up to cater for significant future expenses like university education or wedding costs.

Life products can be both flexible and affordable, with both sums assured and periods of cover tailored according to purpose. And the good news is, the earlier you start a plan the more affordable it is.

So don’t delay: have that conversation with your family today and make sure your future is assured.

About Author

Rachel Al Mughairi

About Author

With over 34 years in the international insurance industry in a variety of senior management roles, and as holder of the Diploma in Insurance from the Chartered Insurance Institute, Rachel surely knows her insurance! With experience in London, continental Europe and the Middle East, Rachel is here to share her knowledge and help you understand more about insurance products in this easy-to-understand series of videos and blogs.