Buying life insurance in Dubai,  can definitely ease your financial future. Many people decide to skip this just to save the pain, not realizing that delaying the solution does not delay the problem. Buying adequate life insurance in Dubai with the right insurance provider can be very helpful. 

Many people fail to understand why life insurance should be an important part of financial planning. Regardless of your family income, you never know what the future holds. If you happen to be the only earner in the household and want to make sure your loved ones are taken care of even when you are not there, then securing your loved ones’ financial future and having a plan in advance is a wise decision. Let’s explore the benefits of having a good life insurance plan.

Long Term Goals Completion With Life Insurance

Life insurance policy in Dubai can also help you take care of your long term goals such as buying your dream home or having a back-up plan for your retirement. A life insurance policy gives you multiple investment options. Some of the policies come with an investment element that pays dividends based on funds and market performance that acts as a cherry on the cake for you.

Assistance With Paying Debts

We all want the best for us, but the wise plans for the worst!

If you want your family to stay safe, so they don’t have to deal with financial liabilities during a critical situation like death or debt, etc. then you’ll have to make sure you buy an adequate amount of life insurance and cover all your liabilities. 

Insurability Is Higher In Young Age

Insurability is another reason to consider life insurance in Dubai especially when you’re single and young. If you’re young, healthy and have a no health issues in your family history, you are eligible to get the best price on a life insurance policy. Life insurance policies are designed to cover uncertain events. You may have a perfect healthy body at the moment and paying a premium for life insurance may seem to be an added financial burden, but if you suddenly face an unexpected event or critical illness, then you may be less likely to get a cover. It’s worth noting that benefits like critical illness is something that money cannot buy but only your age and good health. 

Life Insurance In Dubai As Money-Saving Tool

A life insurance policy in Dubai also helps you save money in a disciplined manner. Depending on the type of Life insurance policy you choose, it’s designed to pay out a lump sum amount at a later stage by accumulating a certain amount over a period of time.

Life is uncertain; hence the least you can do for your loved ones is to secure their financial future by buying a life insurance policy. The right planning and a policy that comes with global coverage can help you significantly. Besides, you should not overlook the benefits of life insurance during your lifetime as well, especially while you are young. With you get a dedicated advisor who can help you assess your current & future needs and recommend the best policies as well as help you choose the best plan. For all your insurance needs has comprehensive plans and more! 

In most instances, health insurance in Dubai will bear the costs for those who have contracted Covid19 or are suspected to have the infection. This is according to a directive issued to all health facilities licensed by the Dubai Health Authority, on behalf of the Ministry of Health and Protection in early March, when Covid19 first started spreading around the world. 

Health Insurance to Cover the Costs

The directive made it clear that all Covid19 cases, whether confirmed or just suspected, were to be treated as emergency cases within 2 categories:

    1. Insurance coverage is available:

Regulations demand that the treatment costs of those tested and found positive for the virus are covered and paid for by insurance companies if the patient has an insurance cover.

Even if you are getting a test and treatment done at a private healthcare provider, if a physician has prescribed the test and treatment, it should be covered by your insurance.  

  1. Unavailability of insurance coverage.

Those without the mandatory health insurance cover required by law in Dubai, if identified as such, will also be protected by not having to pay the costs at DHA licensed health care facilities.

However, in all likelihood, insurers would not help those who went for testing purely to put their minds at rest concerning the deadly virus, but who showed no symptoms of Covid19. In this instance, the person would probably be expected to foot the bill for the testing, whether insured or not. 

What About Other Forms of Insurance Dubai?

  • Life Insurance may be a prime source of concern as the numbers of deaths rise as a result of Covid19. However, there is no need for this worry as a life insurance policy would still payout, should the one be covered. 
  • Travel Insurance: In case of Travel Insurance, although private insurers would usually cover Covid19 as a health emergency, there could be questions regarding whether or not the traveller had already shown symptoms of the virus when they signed for the cover and started their travels. This could rule out the insured’s cover completely.

For more information on insurance and what each type of policy covers, it’s worth speaking to our insurance advisors to get better clarity, especially on insurance you are about to buy. Whatsapp us your insurance queries at +971 50 246 0687.

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.