15 factors to consider when getting Life Insurance in Dubai

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Life Insurance in Dubai

Life insurance is simply income replacement. You should replace your income to cover all the unpredictable events in life.

Life insurance in Dubai
Life insurance in Dubai

Unpredictable events are events such as untimely death or disability that stop the bread-winner from providing for the family’s needs. Other unpredictable events are suffering from Diabetes, Heart Attack, Cancer, Multiple Sclerosis etc.

As an expat, having life insurance in Dubai is very important. Expats, come to Dubai one main reason – better standard of living. That is why replacing our income in case of unpredictable events becomes very important.

5 Questions to ask yourself –

  1. Have you exposed your loved ones to unnecessary financial risk?
  2. What would happen to your family’s income and standard of living in the event of your death?
  3. Have you safeguarded your loved ones financially, in the event of your permanent disability?
  4. Have you ensured that your family won’t suffer financially if you were diagnosed with a ?critical illness?
  5. How would your family be affected if your ?spouse were to die or suffer from a ?critical illness?

15 factors to consider when getting Life Insurance in Dubai

  1. Who should I approach for Life Insurance in Dubai?
  2. Are banks a reliable and qualified source of advice on Life Insurance in Dubai?
  3. What type of Life Insurance is suitable for you? Term Life Insurance or Whole of Life insurance.
  4. Should you take a Single Life policy or Joint life policy?
  5. What are death benefits and living benefits and how do you calculate them?
  6. What is the number and types of critical illness being covered?
  7. What is the growth rate and premium affordability in case of cash value policies?
  8. What are the different premium payment terms available?
  9. Is the plan you are considering, flexible enough for you as compared to others in the market?
  10. Where is your money being invested for insurance policies with cash values?
  11. Till what age does each benefit last?
  12. Are the benefits and levels of cover designed correctly as per your requirement? etc…
  13. Can you use your Life Insurance policy for mortgage protection?
  14. Can you insure your partnership capital through partnership insurance?
  15. Can you use your Life Insurance Policy for covering unprotected liabilities?

As you can see, getting life insurance in Dubai involves a lot of planning and careful decision-making. Please fill in your contact details in the form below and we will contact you for a free 30-minute review of your insurance requirements.

Ask Amit

About the author

Amit is an Independent Financial Advisor, based in Dubai since 1997. He is part of the prestigious ‘Million Dollar Round Table’ (MDRT), which is an elite club of the best financial advisors worldwide.

He has authored the ‘6-Step Financial Success Guide’, and the book ‘Creating, Preserving, Distributing Wealth’.

He helps business owners and professionals ‘Create A Second Income’ through investments.

Amit Mitbawkar

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