K H A L E E J T I M E S A DV E RT I S I N G S U P P L E M E N T
Get a cover to secure your life needs — your spouse, kids or old parents. There might be a number of financial goals attached to your earnings every month — savings and investing for children’s education, a special present for the better half on the next wedding anniversary, medical expenses of the elderly, saving for retirement and so on. But what if life throws an unpleasant surprise? While it is good to be optimistic, it is better to be prepared for the worst and invest in a life insurance policy. Being a financial hub, Dubai is home to a number of life insurance companies. Financial planners advice buying a term plan, which is a plain vanilla life insurance plan that comes for a set term and doesn’t yield anything in return on maturity of the plan. Before buying a policy always do a comparison, hunt for the ones that give you the best value, and should be enough to pay for the family, should something happen to you.
Being optimistic helps, but it is good to have a safety cover to protect you and your loved ones from any eventuality
Suneeti Ahuja-Kohli
W
e all go an extra mile to see a smile on the faces of our loved ones; ensure that we are able to fulfil each and every wish and keep them hale and hearty forever. But imagine, who will be able to take such good care of them in your absence. Well, even though
we would not like to invoke fear psychosis and build a case for you to buy insurance, a cover that shields your family against all calamities, material ones, here is the list of must-have insurance products: Life insurance: A monthly pay cheque provides for the bread and butter, but also brings along umpteen happiness to the ones that rely on you for their financial
Before buying a policy always do a comparison, hunt for the ones that give you the best value, and should be enough to pay for the family, should something happen to you
Health Insurance: The next most important cover is the health insurance. With the rising medical inflation, it is wise to keep your family protected with a health insurance cover. There are a host of options available in this space as well. You can either opt for an individual cover, or buy a family floater that protects the entire family under a single cover. This is economical and works
well for a family of four. Vehicle insurance: Thankfully enough, vehicle insurance is mandated by law, which necessitates that every one buys it before they drive their prized vehicles. However, this should not be bought in a rush and, as mentioned above, you should do research and compare policies by different companies before diving for one that asks for the lowest premium. A number of web aggregators and brokers, who deal with multiple companies, are the best sources to choose the best policy for you. Even though the law mandates only third party insurance, it is in your and your loved ones interest to buy a comprehensive insurance that takes care of all the passengers, in case there is some unfortunate event. Property Insurance: Last and the most ignored insurance is the property insure. The insurance company takes a stock of all the valuables and other items that are present in the house and insures the house for an estimated amount — leaving you stress free in case something unfortunate happens. So, take some time off and think why it is in your best interest to insure your loved ones dreams and good health. —suneeti@khaleejtimes.com