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Reasons to Buy a Life Insurance Policy

The survey conducted by Friends Provident International in 2018 showed that more than half of the inhabitants of the United Arab Emirates did not have a life insurance policy, and only a quarter of respondents admitted that they bought such coverage.
Reasons to Buy a Life Insurance Policy

Full life involves confidence in the future. This emotion can be provided with either a large fortune or life insurance policy. If you cannot name the insurance benefits, this article is for you.

Protection of loved ones

Many of us have close people who are completely dependent on us; it may be your spouses, children or elderly parents. “Think how much money your family will need if you are gone,” says Jamie Fletcher, Senior Advisor to Globaleye. “Think about housing, schooling, comfort, based on these expenses, and you will determine the amount of payment and contributions.”

Protection Against Unforeseen Events  

No one can predict their future; that is why your life insurance policy should include critical illness and long-term care. “If a person remains disabled, the insurance company will have to cover his medical care,” the source explains.

Debt Payment

If the worst case scenario is realized, the insurance company will pay off any customer debts including consumer loans and mortgages.

Source: https://gulfnews.com/business/personal-finance/7-reasons-you-really-need-life-insurance-1.1585815875639

Photos are from open sources.

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