Gary Brodie didnt think he would need it
Case Studies

Gary Brodie Didn’t Think He Would Need It

Gary Brodie’s Story

Gary Brodie only protected his income because his adviser asked him to, and he thought he would never claim on it.

One day, a routine trip to the doctor turned out to be a tryst with cancer.

Watch the video below - he got paid his cover amount within 7 days.

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What People Are Saying

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I have been Amit's client since 2012. He has helped my save for my daughter's college education and also protect my income. He meets me regularly to review the status of my plans as well as my financial situation.

I would have struggled to achieve that goal was it not for his planning and professional approach. If you are a caring parent who wants to secure your child's future, you should contact Amit asap.

Milind Dande - Project Manager
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I've got in touch with Amit several years back and have taken a number of insurances / policies through him.

Amit has in-depth knowledge of the market and knew exactly what I wanted and was looking for. I would recommend him without hesitation to anyone who's looking for valuable financial advice, whether it is about a savings plan, income protection or retirement planning.

Anke Docherty - Head of HR & Administration
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What a refreshing difference to past experiences with other financial consultants, he did not try to squeeze me into a “one size fits all package” but provided a “Tailor Made Solution” based on my specific requirements together with some optional, good advice.

The choice of Amit as my Personal Wealth Adviser was a good one and I can recommend him with confidence to anyone who is concerned about preserving and growing their wealth.

Glen Gifford - Business Development & Investments Director
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Muskan’s Critical Illness Story
Case Studies

Muskan’s Critical Illness Story

Muskan’s Critical Illness Story

Most people don’t know what critical illness is all about. Sometimes they protect their income only because their friend and/or trusted financial adviser recommended them to.

Muskan was one such person who decided to ‘Protect her income’ against ‘Critical illness’, and ‘Permanent Disability’, based on her financial adviser’s advice.

This is her story… watch the video below, and protect your income today.

Ask A Question

Have a question? Feel free to ask me. Click the button below and Ask your question.


What People Are Saying

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I have been Amit's client since 2012. He has helped my save for my daughter's college education and also protect my income. He meets me regularly to review the status of my plans as well as my financial situation.

I would have struggled to achieve that goal was it not for his planning and professional approach. If you are a caring parent who wants to secure your child's future, you should contact Amit asap.

Milind Dande - Project Manager
profile-pic

I've got in touch with Amit several years back and have taken a number of insurances / policies through him.

Amit has in-depth knowledge of the market and knew exactly what I wanted and was looking for. I would recommend him without hesitation to anyone who's looking for valuable financial advice, whether it is about a savings plan, income protection or retirement planning.

Anke Docherty - Head of HR & Administration
profile-pic

What a refreshing difference to past experiences with other financial consultants, he did not try to squeeze me into a “one size fits all package” but provided a “Tailor Made Solution” based on my specific requirements together with some optional, good advice.

The choice of Amit as my Personal Wealth Adviser was a good one and I can recommend him with confidence to anyone who is concerned about preserving and growing their wealth.

Glen Gifford - Business Development & Investments Director
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How Cancer Devastated My Family's Finances
Case Studies

How Cancer Devastated My Family’s Finances

This is the 20th year running in Dubai for me and when I look back at all the significant events in my life, my father's bout with cancer is the thing I remember the most. In this post, I would like to share with you my father's story and hope you learn from the things we went through as a family.

Cancer the silent killer

My father was my role model. He was in Dubai since 1994 and had a comfortable government job that did not involve travelling. He was a very hard worker, and had no vices. He didn't smoke, rarely drank alcohol (only once a month), and didn't do anything that was overly damaging for his health.

We relied on his ability to continue working, for our goals and dreams. Heart disease has historically affected the male members in our family since 3 generations.

My grandfather died from a heart attack. My father's brother died from a heart attack, and my dad himself live through an open-heart surgery. My dad's open heart surgery was successfully completed in 2005. It was a significant cost that was borne by his medical insurance policy issued by his employer.

They gave him 20 years to live, things seemed back to normal. Everyone was happy in the family, that he survived this ordeal and then it happened.

It was June 2006, that we found out (during a routine check-up) that he had stage 4 lymphoma. Lymphoma is a cancer of the lymph nodes. Ironically all the time he and us were worried about his heart issues, we never realized that he had cancer and that he had less than a year to live.

The symptoms were non-existent, till one day he bit his tongue while eating food and the wound would not heal. When we did complete diagnostic tests, the cancer was detected.

The Financial Impact of Cancer

He had less than a year to live. Chemotherapy cost him AED 13,800 per session in a government hospital in Dubai. He need a session every month to survive. Money was initially paid by his medical insurance provider, but his employer was worried about their work getting done. Within 2 months of the cancer being detected he was asked to leave by his boss, so that he could be replaced and work could continue.

Without a job and visa, he had to leave for India. There the treatment costs were half as compared to Dubai, but still very significant. The medical insurance was no more as he lost his job. No insurance company in India would insure him, with this history of heart attacks and cancer.

His bank account was reduced to nothing. We (3 sons in Dubai) started sending him money for treatment. Imagine what must have been going through his mind, when he had to ask us for money.

On June 20th 2007, he passed away after suffering a lot. What happened after this was even more significant. My younger brother was engaged to be married and starting out in life. After our father died, I (being the eldest in the family) had to help him get married and settle down.

Dad had a mortgage on the family home in Goa through HDFC bank. We had to pay off the mortgage at the risk of losing the house. Our mother was a widow, and needed a retirement fund for her to manage her lifestyle. We had to help her create a regular income through investments.

As you can see, the financial impact on our family due to a critical illness (like cancer), was huge. It took us many years to recover from this, and get our finances in order, and I do not wish this on anybody.

What I did to secure my family’s finances

My father’s bout with Cancer and the financial after-effects of this devastating critical illness were the main reason I joined the financial industry. 

Today I have almost USD 500,000 of critical illness cover which will be paid out to me in case I suffer from any of the 36 critical illnesses, I am covered for, including cancer. This money is usually paid out in 7-10 days by Zurich International Life, and I can do whatever I need to do with the payout.

If you are concerned about your family and their ability to survive financially, in case you get a critical illness, please click the ‘Ask Amit' button on this page and ask your questions.

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The Guaranteed Savings Plan I Took For My Daughter
Case Studies, Financial Planning In Dubai, Saving For College, Savings Plans

The Guaranteed Savings Plan I Took For My Daughter

On the 28th of April 2016, I started a savings plan to save money for my daughter’s higher education fees.

As an independent financial advisor myself, I was faced with the decision of choosing between all the different providers of savings plans that are available in the market.

I used the following factors to evaluate and choose the best savings plan for me.

Principle Protection

  1. The S&P500 Index savings plan from Investors Trust is one of the two principle protected plans available in the U.A.E., that are ‘principle protected’.
  2. ‘Principle protected’ simply means that my capital is assured. The S&P500 Index savings plan assures that at the end of the term, the capital plus 40% (140%) is assured as the worst case scenario.

Fine print – This is subject to me contributing all the premiums over the full term.

This means that I have to ensure that I don’t miss any premium at all. While this may seem inflexible, I can pay future premiums in advance to avoid losing the guarantee.

I prefer this plan over other plans in the market, that provide no principle protection whatsoever. Moreover, with other savings plans, I could get back less than what I invested.

Market Participation

This product provides me with 100% market participation. This means that I get the actual performance of the market without any limits on the growth.

Underlying Investment

  1. Other savings plans in the market such as Vista from Zurich International Life, or Premier Advance from Friends Provident International, or Vision from Generali International, etc…, offer mutual funds as the underlying investments.
  2. While there is nothing fundamentally wrong with mutual funds, the fact remains that mutual funds are subject to market risk and have to be chosen correctly. The key here is ‘mistakes happen’ when selecting mutual funds.
  3. Wrong choice, now or in the future, could lead to losses in the portfolio.
  4. The S&P500 Index savings plan offers the S&P500 index as the underlying investment choice.
  5. There is only one variable that could affect the performance of the portfolio, which is the S&P500.
  6. This plan works without intervention from the plan holder or the financial advisor.

The advisor cannot make mistakes, causing you to lose money.

The S&P500 is simply a numerical index that gives the average performance of the top 500 stocks in the US stock market. I like the simplicity of this investment.

I don’t have to pick and choose anything where ‘mistakes could happen’.

Moreover, Warren Buffett himself advocates the S&P500 as the best investment to everyone including himself.

Not only that Warren Buffett has famously wagered a million dollars on the performance of the S&P500 over the best hedge funds in the world – Protege Partners.

This was a 10-year bet which is into its 8th year and Warren Buffett is right so far. The S&P500 has beaten the hedge fund in overall performance in the past 8 years.

Performance of the S&P500 Index

Historical performance matters even though it may not be an indicator of future results. All I did was look at the 25-year performance of the S&P500, and my mind was made up.

The S&P500 has averaged 12.98% per year over the last 25-year period.

Charges

There is a saying in life that you get what you pay for. This product is slightly more expensive as compared to the other savings plans in the market. But there are three factors that made me choose this product over the others.

  1. Principle protection of 140% which the other products don’t have, and
  2. Index fund – S&P500 that has actually outperformed any of the funds in the market over 25 years.
  3. Warren Buffett (one of the richest man in the world recommends it)

Term – (number of years)

The S&P500 Index Savings plan is only available for a term of 15 years. While others might find this unsuitable for their savings and investment goals, I found this perfect for my goal of saving for my daughter’s education.

She is 3 years old and I have exactly 15 years before I have to shell out approximately USD 320,000 for her higher education fees.

Specifics of my investment

My investment details are as below:

  • Monthly Contribution – USD 1,000
  • Term – 15 years
  • Total contribution – USD 180,000
  • Minimum Guaranteed amount (after 15 years) – 140% i.e., USD 252,000 or actual market performance.

Ask A Question

Have a question? Feel free to ask me. Click the button below and Ask your question.

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True Story Of Chris Schouten's Battle With Stroke
Case Studies

True Story Of Chris Schouten’s Battle With Stroke

I was browsing Youtube today for videos on ‘Income protection’ policy payouts, and I found this shocking but very powerful video about how Chris Schouten’s income protection policy helped him and his family stay afloat financially when he got paralysed.

Please share this video with everyone you care about.

Ask A Question

Have a question? Feel free to ask me. Click the button below and Ask your question.


What People Are Saying

profile-pic

I have been Amit's client since 2012. He has helped my save for my daughter's college education and also protect my income. He meets me regularly to review the status of my plans as well as my financial situation.

I would have struggled to achieve that goal was it not for his planning and professional approach. If you are a caring parent who wants to secure your child's future, you should contact Amit asap.

Milind Dande - Project Manager
profile-pic

I've got in touch with Amit several years back and have taken a number of insurances / policies through him.

Amit has in-depth knowledge of the market and knew exactly what I wanted and was looking for. I would recommend him without hesitation to anyone who's looking for valuable financial advice, whether it is about a savings plan, income protection or retirement planning.

Anke Docherty - Head of HR & Administration
profile-pic

What a refreshing difference to past experiences with other financial consultants, he did not try to squeeze me into a “one size fits all package” but provided a “Tailor Made Solution” based on my specific requirements together with some optional, good advice.

The choice of Amit as my Personal Wealth Adviser was a good one and I can recommend him with confidence to anyone who is concerned about preserving and growing their wealth.

Glen Gifford - Business Development & Investments Director
​Read More