The UAE is a nation of expatriates: with over 88 per cent of its population coming from overseas and comprising of more than 200 nationalities. Two things they all have in common, are first, a doubtless desire to avail the great opportunities that exist here to build their future, and second, a residency visa of some description.
Talking of the future, we wondered what advice the experts at InsuranceMarket.ae could give us for protecting ours, so we talked to two members of their executive team to find out more.
Rachel Al Mughairi, chief engagement officer at InsuranceMarket.ae, said: “Statistics have shown that many are making the UAE their home for much longer periods than before. The average tenure for an expat in the UAE is now 5.5 years and rising, and with the introduction of new visa types like the retirement and golden visas making it easier to stay here, it’s important to consider your financial and protection needs, wants and goals. Retirement visas, for example, require minimum thresholds of evidenced income, protection, savings and assets, so if your plan is to work and stay here for a lengthy proportion of your life, then life assurance products with investment elements can be a smart option.”
Avinash Babur, CEO at InsuranceMarket.ae, added: “Life Insurance plans cover much more than death benefits, and although that is important, what many don’t realise is that life products can also assist with future financial planning. Term assurance can cover home loans protecting your debt, and plans with investment elements can help to contribute towards funds accrual such as a retirement pot. This makes life products both flexible and affordable since both sums assured and periods of cover can be selected according to needs and wants identified.”
We’re convinced, and off to assure our future by calling InsuranceMarket.ae today.